Working in a hedge funds company has never been easy. A lot of preparation is required before you even get started in the industry. From character traits to abilities to basic knowledge of terms that are used in the industry, you need to know a lot of things before you start looking your first job in the industry. Before stepping down in a company for job you should take a look on the following things:
- Analysis and skills sets required
- Basic knowledge related to hedge funds
- Internship, mentors and networking
- Defining a role where you can fit easily
Once you’ve taken a closer look on these things, you should start looking for the job. The culture of hedge funds is hyper, risk-taking and pressurizing in nature. Since recession the hiring has dampened in industry. But still there are enough jobs for skilled professionals in the industry.
The very first step that you should take before entering this industry is analyzing your personality against the pressurized work environment of hedge funds. The competition of outperforming your peers remains insanely high in this industry and you need to consider whether you really can thrive under that pressure or not. You should also have the ability of evaluating data frequently for keeping the edge.
The second step you’ll need to take is being aggressive with networking. You need to get very comfortable with networking and you need to avoid the rejections instead of taking them personally (something that most people fail in doing). Leverage whatever contacts you’ve, because you won’t get a chance of walking into a hedge funds conference. Their business remains under wraps, so no such gathering are organized in this industry. Focus on clarity and brevity when you’re networking with hedge funders. Convey everything with clarity; especially your qualifications, your desires, reasons behind your desires and the benefit that they’ll get from you. If you can’t convey these things with clarity then either you’ll be ignored or you’ll be seen as annoyance.
Since a lot of metrics are used in hedge funds, you need to be specific while presenting your accomplishments. Use numbers wherever they seem good.
Never forget doing your homework before you approach a fund. You need to know the type of investments that your target fund makes. This job isn’t for “faint of the heart” or “lazy” type of people. You need to be a workaholic and strong hearted for surviving in this industry.