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Landing a job with a hedge fund is the goal of many recent college graduates and young financial professionals. Like investment banking jobs with Goldman Sachs or consulting positions with Bain or McKinsey, jobs with top hedge funds like Citadel in Chicago or Farallon in San Francisco are highly coveted. Some of the brightest financial minds vie for the opportunity to interview with these top funds.
Of course not all intelligent young financial professionals attended Ivy League universities or have the financial experiences typical of successful applicants to high powered hedge funds like Citadel. However, there are over 5,000 hedge funds in the United States of varying sizes and specialties. The top hundred of these are the target of disproportionate attention from job applicants. The competition for Junior Analyst positions is extremely competitive. Meanwhile thousands of smaller hedge funds remain under the radar, partly because many hedge funds are difficult to locate and keep a low-profile. The chances of getting a job with these lesser-known hedge funds are far higher than for the average candidate.
The three best ways to get an interview with a hedge fund,
personal connection: It’s somewhat unfortunate that this method is probably the best way to get a hedge fund interview. However, the definition of “personal connection” varies. For some lucky people, this may be a family friend who manages a fund in CT or NY. For others it may be a college classmate who is now an analyst at a hedge fund. These types of connections can get you an interview when your resume alone may not be enough. Don’t forget online networking and sites like LinkedIn to expand your larger network of contacts.
Financial Recruiter: Because large hedge funds are often hesitant to post open positions on job boards, they rely heavily on financial recruiting firms/headhunters. It is recommended to use headhunters and recruiters for candidates with many years of experience and substantial resumes. Less experienced applicants may find themselves at the bottom of the totem pole. However, it’s often worth working with a larger recruiter. Glocap Because it requires minimal effort (you’ll likely have an in-person interview with the recruiter and fill out some forms and submit a resume).
direct contact: One of the most overlooked ways to get an interview with a hedge fund is to contact the hedge fund directly. The vast majority of hedge funds have fewer than ten employees and do not have a human resources manager. With these small funds, send a well-written cover letter and your resume to the CEO or MD. Because hedge funds, especially the thousands of smaller firms, maintain a low-profile, it’s worth getting one. list of hedge funds with contact information.
Remember, the most important characteristic of successful hedge fund analysts is their intelligence and determination. Looking for a hedge fund job can be a test of your determination at times, but the right attitude and a few tools can help keep you one step ahead of your competitors.
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