Traders, I am in my senior year of college and looking to get into prop trading and eventually a career in a hedge fund. This is a pretty broad and generic question, but what would be the best advice in applying to hedge funds and finding even just entry level jobs / positions? Thanks for the input.
can you explain what you mean? seems like getting a job in one would be impossible from what you're saying?
Why don't you trade your ass off like that 14 year old up in Toronto? Establish a track record and use that to get your foot in the door at a hedge fund. In fact, this is around the hour of the day when he's finishing up trading the Hang Seng and Kospi.
You should get into the business of closing hedge funds. It'll be a growth industry in the next 3 years.
3 types of people work as traders at hedgefunds: 1) Quant/Phd types from top schools who program and build algorithms. 2) MBA types, who probably played lacrosse, hockey, or football at Princeton, who are somewhat charismatic, who get lucky, and manage to land an interview, and probably know people "on the street" so they can milk them for inside information and rumors.. 3) trust fund kids whose dads basically golf with the portfolio manager, and got them a job. They offer very little value, so they pretty much "monitor" orders and positions all day. I am not saying you cant get lucky, but the odds are stacked against you b/c you need to be very well connected, very smart (like really smart), or be a superstar trader, and prove your ability. I would focus on trading for yourself. Make sure you use a demo account first. If you can do this, you can probsably get a job at a smaller fund I would guess. Or.... Call financial recruiters and ask them if they ever get entry level positions for hedge funds (operations). THey will probably say no, but try it. Also, ask your school about any alumni that might be involved and offered to allow you to contact them.. Try to network your way in. Unless your brilliant its your only way in.
Check out this link and you'll see the critera required in several listings in what a hedge fund looks for in an applicant: http://jobs.efinancialcareers.com/Hedge_Funds-Trading/USA-NY.htm