7 Keys to Getting a Hedge Fund Job

1. Determine Your Passion and Pick a Specialty

Don’t be afraid to specialize. Just make sure you specialize in a field that funds are interested in. Being a generalist is fine for many jobs, but in the hedge fund industry you will be pushed into one of a handful of roles – research, trading, programming, sales etc. Make it easy for the hiring manager to determine which role you fit into by building your resume around a distinct skill set.

2. Research the Funds You Intend to Work For

You have spent decades obtaining your education, work experience, and credentials. Don’t blow it by writing generic cover letters or showing up for interviews without a solid understanding of the firm’s business. For some firms you can find 13F filings that detail some of their largest holdings. Search Bloomberg and other financial sites for relevant articles, holdings, and recent regulatory issues. At HedgeFundJobList.com we provide website URLs and other contact info for of firms we cover. The addition of hiring manager e-mails for the majority of firms provides a solid starting point for your hedge fund career search.

3. Gain Credibility and Understanding with a Certification

If you have only a bachelor’s degree, you may want to consider getting additional certifications and licenses. The Series 7 may be necessary for certain sales roles that deal with non-qualified investors. However, the Chartered Financial Analyst (CFA) is by far the most respected credential. It is also the most difficult to get, requiring several hundred hours and three years to obtain. You might also consider the Chartered Alternative Investment Analyst (CAIA).

4. Network

Surely you have heard people say that the best jobs go to personal connections. This may be true, but your lack of direct hedge fund contacts shouldn’t stop you from expanding your rolodex. Join networking sites like LinkedIn and financial job sites such as Vault and Wall Street Oasis.

5. Perfect Your Resume / Cover Letter

No matter what you have done or achieved in your life, your resume and cover letter will be your primary means of conveying these achievements to your prospective employer. Don’t expect to crank out your resume and a bunch of cover letters in a few hours. You may be competing with prospects that have better qualifications than you. A little extra attention to your cover letter and resume will help you stand out.

6. Work on Your Interview Skills

Perfecting your interview skills is a holistic process. First, spend a few hours, or days if necessary, reviewing intermediate math and accounting. At some point in the interview process you will be asked questions that require these skills. You should also have someone quiz you for practice. Another option: get real-life interview practice by applying to non-hedge fund jobs you are over-qualified for (bank teller, personal banker, insurance sales). Treat the interview just as you would a hedge fund or private equity interview. You won’t get the same caliber of intellectual questions, but it will make you more comfortable when you interview for a more prestigious position.

7. Be Proactive!

Don’t sit around waiting for hedge funds to post jobs on the internet. Even in better economic times, most funds bypass generic sites like CareerBuilder and Craigslist. A handful use Vault and other financial specific sites. Even when jobs are posted, the flood of applicants for hedge fund jobs quickly overwhelms the manager, and your resume is unlikely to be given the attention it deserves. Direct contact involves writing unsolicited letters to hiring managers and is a terrific option in the current environment because there will certainly be fewer applicants. This is what our hedge fund lists are designed for. You should also explore using recruiters like GloCap and Robert Half, though entry-level candidates can sometimes feel undervalued.