Breaking Into Hedge Fund Business?

Discussion in 'Professional Trading' started by Churn4Fun, Nov 8, 2006.

  1. Hey guys, great forum!! I'm new but have already learned quite a bit digging through the archives...and picked up some of the books recommended on the site.

    Unlike many people in the business, I'm not (yet) interested in starting my own fund, but finding a job trading, clerking, or assisting traders at a hedge fund. My question...what sort of experience, education, and qualities are these firms looking for?

    I have a undergrad degree in Economics from one of the better schools on the east coast, but put off the MBA so that I could dive into trading. I've been working as a prop trader for 1.5 years in a modest but lucrative firm, and I've had a good measure of success....but not the sort of "Hedge Fund Success" I read about in the industry mags or from friends-of-friends who work in the industry. The simple fact is that, in spite of the fact that I'm loyal to office and appreciate everything they've taught me, I can only go so far using their strategies.

    Should I go back and get an MBA? Maybe a CFA? Should I continue to work here to gain additional experience?

    How exactly does one get into the business (aside from marrying the Senior Traders daughter)?
  2. sps_45


    Good question to be honest. I am in the same situation. I want to be closer to the traders, but am doing accounting/operations at a hedge fund right now.

    If you ask me its not easy making it onto a trading desk at a fund. The guys on our trading desk either have 10-15 yrs of experience or have graduate education including MBA's from UPENN, Columbia, NYU or have financial engineering degrees from NYU, Columbia.

    I only have an undergrad in finance from a FL school. I am strongly considering going back to grad school for a financial engineering degree to hopefully qualify me to get on the trading desk, but admissions for the programs here in the NY/NJ areas are extremely tough. NYU and Columbia only select top tier GMAT/GRE & GPA applicants, but even a school like Baruch selects only the top candidates. I consider myself a smart person, but realistically I don't even think I can get into Baruch.

    Even if I got in the program is VERY VERY hard. I think with the will one can successfully pass the program. The hard part is getting in.