Create an Effective Hedge Fund Resume

It is important to note that you should have at least two (maybe more) distinct hedge fund resumes. One to post on internet job boards, and another that you send directly to potential employers. This resume guide is intended for hedge fund and private equity job-seekers using the latter method, who intend to contact the firms they are interested in directly.

One great way to contact hedge funds directly is with our hedge fund lists. They include a column showing which firms are hiring as well as career and executive emails.

If you are posting your hedge fund resume on job boards like Vault, CareerBuilder, etc. you will want a resume that is full of the keywords that recruiters look for. You can find plenty of sites that will help you “stuff” your resume with the type of keywords financial employers (and their search software) are looking for. However, when sending a resume to funds directly (whether using one of our lists or replying to a specific job post) these overused keywords will only serve to distract or annoy the sometimes intelligent, mostly impatient, and often highly paid person reviewing your resume.

Hedge funds and private equity firms do not hire like other businesses. In fact they don’t even hire like other financial firms. More than 90% of hedge funds and private equity firms do not have a single dedicated human resource officer. Your communications will likely go to the managing director or CEO of the firm directly (our lists provide four methods of contacting them). The person making the initial decision on whether your hedge fund or private equity resume deserves further review, or a quick trip to the recycle bin, is a highly compensated entrepreneur who considers his/her time very valuable. Do not waste their time with financial mumbo-jumbo, vaguely worded accomplishments, or other unnecessary hyperbole.

Each position/experience item that makes it on to your resume should be directly applicable to the position you are applying for. Your hedge fund or private equity resume should:

Be Concise

Your hedge fund resume and cover letter must be concise. As stated above, your resume will most likely be reviewed by a partner or director who considers their time very valuable. Waste their time and your resume will end up in the waste basket, regardless of your qualifications.

If you are relatively entry-level (less than 4 or 5 years of financial experience) there is absolutely no reason your resume should be more than one page. Some managers throw out any and all multiple page resumes. They don’t have time to read them, and they believe if you have accomplished enough to justify multiple pages, they would surely have heard of you from your interviews on Bloomberg or your Nobel Prize in Economics.

Remember, it is not the quantity of your accomplishments, but rather their unique qualities. It is best to share two or three really powerful and distinguishing accomplishments accompanied by just enough detail to justify them.

A concise hedge fund resume is easy to read. Don’t use color, don’t use graphics, don’t play around with fancy templates. Few hedge fund managers will be impressed by your Microsoft Office skills, but many will be turned off by your distracting extravagance.

Keep it simple. Hedge funds and private equity firms expect all members of their organization to help in the acquisition and retention of client assets. If you cannot communicate your ideas effectively in your resume and cover letter, should they expect you to be able to do so with clients?

Be Specific

Your resume must be specific in two senses: specific information on your achievements and specific information on how you can help the firm.

Remember that your hedge fund resume should be no longer than one page and note only your most relevant and important accomplishments. Highlight a couple of these and describe what exactly you did, how you were able to succeed, and the implications of your work. These accomplishments should emphasize skills that are relevant to the prospective employer. For example, let’s say you worked on a team at Alliance Bernstein that helped develop sell-side research on the tech industry. You could phrase this in a couple of ways:

1. Conducted analysis and background to help the Technology Research Team with its monthly research reports.

2. Used (my) statistical background to develop a new quantitative cash flow valuation model that propelled the Technology Research Team to its status as Top Research Sector at Alliance Bernstein for 2016-2017.

The first response relies entirely on generalities. In fact, it would be true even if all you did was photocopy charts. Analysis, background, and research are all vague terms that say little about the quality or implications of your work. Truthfully, the second example could use a bit more detail as well, but is far more specific than the first example. It also provides a direct connection between your work and the success of the firm.

Determine Your Role

This guide is intended for constructing hedge fund and private equity resumes that will be sent directly to employers without the use of a recruiter or headhunter. When posting your resume on the internet, or using a recruiter, it is often acceptable to display a broader set of skills because your resume may be seen by dozens of employers with different needs. However, when applying to funds directly, particularly for positions that may or may not actually exist, it is critical that you define yourself and the role you would like to play within the firm.

As noted earlier, the person reviewing your hedge fund resume may be a very highly compensated partner, MD, or even the CEO of a small asset management or private equity firm. Do not expect them to be so impressed with your qualifications that they spend the time to figure out what role you would be best in. Tell them directly. If you have less than five years of financial experience, you are most likely to get a job as a junior analyst or associate. Research what these roles entail and emphasize the skills that are most relevant to this specific position. Analytical and strategic thinking skills are a requirement for these positions, not a bonus. Don’t mention the overused terms, “strategic” and “analytic” unless you can back them up with specific evidence of these attributes.

Candidates for entry-level positions will be expected to do everything from coffee runs to acting as a research “gopher”. Your resume should therefore note your ability to work in a team environment (and don’t just say it, prove it).

Entry-level finance jobs are seldom as glamorous as one might hope. Accept this and use your past experience to indicate your willingness to proactively help the firm succeed in whatever manner is necessary. Most managers would prefer this type of dedication to a very intelligent person who finds such work beneath them. Intelligence and market savvy are keys to running a successful fund. Hard work, dedication, and cooperation are the keys to being successful in a junior role (a certain degree of intelligence and experience are prerequisites as well). They will not be hiring you because they think you will be successful at managing large sums of money. They will be hiring you because they think you can help them be more successful by providing them relevant research, handling routine administrative tasks, and working well with your teammates. Your accomplishments should illustrate your ability to be proactive and accomplish more than was asked of you. Make sure your hedge fund resume clearly demonstrates these qualities.

Don’t Rely on Your Cover Letter to Communicate the Role you Want

Most people fall into the trap of writing a general resume, and rely on their cover letter to describe why they would be a good fit in a given role. What if the manager never even reads the cover letter? Don’t expect that both your cover letter and resume will be read thoroughly, or at all.

It is essential that your resume convey your skill-set in such a manner that the reader immediately knows what role you are applying for, without having read your cover letter. You can also use the “objective statement” to convey the position you see yourself in, but it is best to avoid redundancy with your cover letter. In fact, if the achievement/accomplishment portion of your resume is written well enough, you may not even need an “objective statement”.

Remember, this is not a complete guide to hedge fund resume writing. We didn’t discuss the resume layout or format, the inclusion of an educational background, or many other features common to good resumes. You should have no trouble finding resources to help with these general subjects. All good resumes, are clear, concise, and specific, but this guide emphasizes how critical these attributes are when applying for a hedge fund or private equity job.