How hard is it to get a job at a hedge fund? (2024)

How hard is it to get a job at a hedge fund?

If you want a hedge fund job, you'll typically need to have an excellent academic record and – if you want to be an analyst or a portfolio manager – you'll need to be no stranger to very hard work. “The game has gotten much harder,” says Colin Lancaster.

How hard is it to get hired at a hedge fund?

Hedge funds employ some of the best-paid business professionals anywhere, but landing your first job in the industry is no cakewalk. Building a hedge fund career takes determination, networking stamina, and a fierce competitive streak. Here are some steps to help get you to that interview and then land that job.

Why do you want to work for a hedge fund answer?

Why Work at a Hedge Fund? Hedge funds are good if you're extremely passionate about the public markets, and you want to follow companies and other securities rather than work on deals. “Extremely passionate” means: You're constantly reading about the financial markets in books and other media.

How stressful is it to work at a hedge fund?

Long and stressful days

The day for hedge fund managers is very long and full of stressful hours. The end of the market day doesn't necessarily mean that they are done for the day. Many hedge fund managers run positions in overnight markets so they will need to monitor those trades, often late into the night.

What questions to ask in a hedge fund interview?

Do hedge funds pay well?

Hedge funds are widely regarded as offering significant earning potential. Junior level employees are able to achieve salaries upwards of $500k in some places, and the best fund managers can see their net worth ultimately reach nine or even ten figures.

What majors do hedge funds hire?

What education is required to become a hedge fund manager? Many hedge fund employers require employees to receive a bachelor's degree in finance or a related specialty like accounting or economics. Some hiring managers may require a master's in business administration as well.

How hard is it to get a job at Citadel?

Is it hard to get hired at Citadel? Glassdoor users rated their interview experience at Citadel as 46.3% positive with a difficulty rating score of 3.31 out of 5 (where 5 is the highest level of difficulty).

What are the cons of working at a hedge fund?

On the negative side, the hours are still long and stressful (though better than investment banking hours), job security can be low, and your exit opportunities will be limited.

Why do hedge funds pay so much?

Consequently, most hedge fund managers are paid based on how much they increase investors' wealth—a percent of the return—not on how well they do relative to a benchmark, thus focusing their performance exclusively on positive returns.

What is the best degree to work in a hedge fund?

A B.S. in finance can prepare you for a range of hedge fund positions: asset manager, portfolio or equity analyst, and equity trader. A finance-oriented bachelor's degree can also be a great primer for a Master of Business Administration (MBA).

Do hedge fund managers make millions?

Successful hedge fund managers tend to be highly paid and can be worth billions of dollars.

Who is the highest paid hedge fund manager?

What should I wear to a hedge fund interview?

“If they are in jeans, dress business casual,” he said. “If they are business casual, wear something like a jacket with no tie.” He said that none of his current hedge fund clients have a suit-only dress code. While jeans may be a bit over-the-top at some firms, so is overly formal dress.

How hard is it to intern at a hedge fund?

Getting an internship at a hedge fund can be very competitive and difficult. Hedge funds typically attract top-tier talent from prestigious universities and business schools, and the interview process is often rigorous and highly selective.

What do hedge funds look for in candidates?

Current Book Size: Hedge Funds typically look for PM candidates that have been running at least $200m-$500m+ in another Hedge Fund (or similar) setting, ideally with at least 2-3+ years with full ownership of the track.

What is a PM at a hedge fund salary?

Compensation spans a huge range at this level because it's linked almost 100% to performance. We gave a range of $500K to $3 million USD in the hedge fund career path article for the “average” PM, with median pay in the high-six-figure-to-low-seven-figure range. But there are several important footnotes and caveats.

How much do Citadel PM make?

$249K (Median Total Pay)

The average Portfolio Manager base salary at Citadel is $159K per year. The average additional pay is $90K per year, which could include cash bonus, stock, commission, profit sharing or tips.

How many hours a day do hedge fund managers work?

Hedge Fund Analyst Hours and Lifestyle

At smaller, single-manager funds, the average might be 10-12 hours per day, for a total of 50-60 hours per week (weekend work is rare). As you move to larger, multi-manager funds, the hours and stress get worse, so the average may be more like 60-70 hours per week.

Which schools do hedge funds recruit from?

Undergrad: The Ivy League schools (HYP and UPenn (Wharton) more than the others), NYU (Stern), U Michigan (Ross), UC Berkeley (Haas), Notre Dame (Mendoza), Georgetown (McDonough), Northwestern, Duke, UVA (McIntire), Stanford, MIT, UChicago, and arguably the top liberal arts colleges (Williams, Amherst, etc.).

Where do most hedge fund managers go to college?

According to an eFinancialCareers.com analysis of its curriculum vita database, the following U.S. colleges are the most popular for hedge fund professionals: Columbia University, New York University, University of Pennsylvania, Cornell University, University of California, Harvard University, University of Chicago, ...

How to get a job at a hedge fund with no experience?

The easiest path to landing a job at any type of hedge fund is to work in banking for the first two years out of undergrad. During those years, make sure you develop a good reputation and try to be a top bucket analyst. You need to be very good at excel and have a strong grasp on valuation / modeling.

What GPA do you need to work at Citadel?

A cumulative GPA of 3.4 or higher. Proficiency in Excel, Data Analysis, and basic programming is a plus.

Is working at a hedge fund prestigious?

They are considered the most prestigious jobs, pay the most, and offer the highest advancement potential and the best career opportunities. At some funds, there are additional roles – for example, at quant hedge funds, there are also quants and programmers with math/statistics/computer science backgrounds.

Does Citadel pay a lot?

The average Citadel salary ranges from approximately $85,000 per year for Operations Associate to $236,000 per year for Portfolio Manager. Average Citadel hourly pay ranges from approximately $27.54 per hour for Recruiting Coordinator to $29.25 per hour for Intern.