Jobs at Hedge Funds

A few weeks ago I conducted an hour long interview with JobSearchDigest.com. Below is the result of this discussion written up by their team:
_______________________________

Richard Wilson is a hedge fund consultant, author of two books, The Hedge Fund Blog Book and Rainmaker, and the founder and publisher of HedgeFundBlogger.com, one of the most visited websites covering the hedge fund industry.
Richard and four other professionals have also established the Certified Hedge Fund Professional (CHP) Designation. The CHP Designation is the only certification program designed exclusively for professionals who work in the hedge fund industry or for wealth management and service providers who would like a better understanding in order to serve hedge funds as clients.
We caught up with Richard recently to get his views on the industry and the prospects for those seeking hedge fund jobs. Read the rest of this interview here.

Related Terms: Hedge Fund Job Search, Jobs in Hedge Funds, Hedge Fund Job, Hedge Fund Jobs New York, Hedge Fund Job New York, Hedge Fund, Hedge Fund Career, careers

Jobs at Hedge Funds

A few weeks ago I conducted an hour long interview with JobSearchDigest.com. Below is the result of this discussion written up by their team:

_______________________________

Richard Wilson is a hedge fund consultant, author of two books, The Hedge Fund Blog Book and Rainmaker, and the founder and publisher of HedgeFundBlogger.com, one of the most visited websites covering the hedge fund industry.

Richard and four other professionals have also established the Chartered Hedge Fund Associate (CHA) Designation. The CHA Designation is the only certification program designed exclusively for professionals who work in the hedge fund industry or for wealth management and service providers who would like a better understanding in order to serve hedge funds as clients.

We caught up with Richard recently to get his views on the industry and the prospects for those seeking hedge fund jobs.

What is your professional background?

I went to Oregon State University for my undergrad degree in business. I helped a European currency foreign exchange hedge fund out of Germany and Denmark do leading indicator trading research. That was my first experience in the industry, while I was still in college, working for them on a part-time basis.

When I was done with that degree, I attended the University of Portland, and earned an MBA in finance. At that point, I was working for a risk consulting firm. So we reviewed risk processes for a variety of different groups, and analyzed their risk controls and what they had in place. That helped me later on when I was working with hedge fund managers. Basically, a hedge fund manager is just managing risk. Many times, people make the mistake of shooting for 20%+ returns. When a shrewd investor sees that they often ask, at what risk did you get that return? Are we going to get hammered the next time you try to take the same risk?

After that, my other experience was in capital raising. I helped raise capital from institutional investors, for a South African fund of hedge funds. And I also worked for a consulting firm for several years that provides outsourced marketing to investment managers, including fund of funds and hedge funds. Our pitch to clients was basically, “We have years of marketing experience. We have thousands of contacts with investors. Don’t hire a marketing professional. Hire our firm, and you can outsource your entire marketing department to us.” Hedge fund managers are so busy, they’re always trading, meeting with their traders and focusing on operations. It’s difficult for them to find the time to do the marketing work.

What changes have you seen in the job market for hedge fund professionals?

Many hedge funds that were expanding, as recently as two or three months ago, including large groups like Citadel, but also small groups in the $20 to $50 million range, are now waiting to see what happens because their performance is slightly negative and they’re not sure how that’s going to affect their marketing.

A lot of funds are still outperforming the average fund, but many are wondering, with the new presidential administration, and the SEC probably taking action after such a large retraction, how some new regulations might hinder the industry from growing as quickly as it in the past. I think a lot of people are playing the wait-and-see game, both with their money, in terms of allocating the cash, but also in terms of allocating to new positions. The only exception to that is probably in the marketing and sales area. There are some hedge funds which have positive performance and so they are optimistic about what that is going to do for their marketing. They are very hungry to bring on new marketing and sales professionals to take advantage of their track record and really get the word out.

What sort of background do you need for a hedge fund marketing job?

Generally if a firm is hiring for hedge fund marketing jobs, they want you to have hedge fund marketing experience. Sometimes people are willing to take on somebody who’s green to the financial industry and move them up the learning curve. But it’s not too common, and you won’t be paid nearly as much, because you’ll need to get your security exams and have your license in place. You need to learn the lingo and how everything works. It takes six months to get you productive instead of two months, if you’ve already been in the industry.

Even if you are working in a marketing function, do you still need to be licensed?

It depends if you’re working for an external marketing firm, which is quite common today, or if you’re working inside a hedge fund. Some funds and hedge fund consulting companies that work in the marketing space are more strict about that than others. It comes up fairly often as part of the job interview discussion and it can be a barrier to entry for some folks.

To be licensed, you have to be sponsored by a broker/dealer. So it’s kind of a Catch 22 in terms of having to get licensed but not having a job yet. A lot of times you have to wait until you get hired.

Is this still a good time to be looking for a job in hedge funds?

I think if you really want to work in the industry then it’s always a good time. And you should be working as hard as you can. If you’re passionate about it, you should never stop. And if you’re not that passionate about it, then maybe you shouldn’t even try in the first place. It’s really competitive, and the first two or three years will probably be relatively tough in terms of compensation and trying to find positions.

There are people who say, “I want to work in the hedge fund industry. Period.” They identify the 2-3 positions they are most interested in. Then they commit to contacting 100 firms that offer those types of services or strategies. These people will probably get a job. It’s always a good time if you’re really passionate and really want to get in.

To learn more about the CHA Designation please visit http://CHADesignation.Org.

Related Terms: Hedge Fund Job Search, Jobs in Hedge Funds, Hedge Fund Job, Hedge Fund Jobs New York, Hedge Fund Job New York, Hedge Fund, Hedge Fund Career, careers

Jobs at Hedge Funds

A few weeks ago I conducted an hour long interview with JobSearchDigest.com. Below is the result of this discussion written up by their team:

_______________________________

Richard Wilson is a hedge fund consultant, author of two books, The Hedge Fund Blog Book and Rainmaker, and the founder and publisher of HedgeFundBlogger.com, one of the most visited websites covering the hedge fund industry.

Richard and four other professionals have also established the Certified Hedge Fund Professional (CHP) Designation. The CHP Designation is the only certification program designed exclusively for professionals who work in the hedge fund industry or for wealth management and service providers who would like a better understanding in order to serve hedge funds as clients.

We caught up with Richard recently to get his views on the industry and the prospects for those seeking hedge fund jobs. Read the rest of this interview here.

Related Terms: Hedge Fund Job Search, Jobs in Hedge Funds, Hedge Fund Job, Hedge Fund Jobs New York, Hedge Fund Job New York, Hedge Fund, Hedge Fund Career, careers

Jobs at Hedge Funds

A few weeks ago I conducted an hour long interview with JobSearchDigest.com. Below is the result of this discussion written up by their team:

_______________________________

Richard Wilson is a hedge fund consultant, author of two books, The Hedge Fund Blog Book and Rainmaker, and the founder and publisher of HedgeFundBlogger.com, one of the most visited websites covering the hedge fund industry.

Richard and four other professionals have also established the Certified Hedge Fund Professional (CHP) designation. The CHP Designation is the only certification program designed exclusively for professionals who work in the hedge fund industry or for wealth management and service providers who would like a better understanding in order to serve hedge funds as clients.

We caught up with Richard recently to get his views on the industry and the prospects for those seeking hedge fund jobs. Read the rest of this interview here.

Related to Jobs at Hedge Funds | Interview

• Careers & Employment Guide
• Fund Marketing and Sales Advice
• Hedge Fund Careers
• Hedge Fund Associations
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Tags: Hedge Fund Job Search, Jobs in Hedge Funds, Hedge Fund Job, Hedge Fund Jobs New York, Hedge Fund Job New York, Hedge Fund, Hedge Fund Career, careers

Jobs at Hedge Funds

A few weeks ago I conducted an hour long interview with JobSearchDigest.com. Below is the result of this discussion written up by their team:

_______________________________

Richard Wilson is a hedge fund consultant, author of two books, The Hedge Fund Blog Book and Rainmaker, and the founder and publisher of HedgeFundBlogger.com, one of the most visited websites covering the hedge fund industry.

Richard and four other professionals have also established the Chartered Hedge Fund Associate (CHA) Designation. The CHA Designation is the only certification program designed exclusively for professionals who work in the hedge fund industry or for wealth management and service providers who would like a better understanding in order to serve hedge funds as clients.

We caught up with Richard recently to get his views on the industry and the prospects for those seeking hedge fund jobs.

What is your professional background?

I went to Oregon State University for my undergrad degree in business. I helped a European currency foreign exchange hedge fund out of Germany and Denmark do leading indicator trading research. That was my first experience in the industry, while I was still in college, working for them on a part-time basis.

When I was done with that degree, I attended the University of Portland, and earned an MBA in finance. At that point, I was working for a risk consulting firm. So we reviewed risk processes for a variety of different groups, and analyzed their risk controls and what they had in place. That helped me later on when I was working with hedge fund managers. Basically, a hedge fund manager is just managing risk. Many times, people make the mistake of shooting for 20%+ returns. When a shrewd investor sees that they often ask, at what risk did you get that return? Are we going to get hammered the next time you try to take the same risk?

After that, my other experience was in capital raising. I helped raise capital from institutional investors, for a South African fund of hedge funds. And I also worked for a consulting firm for several years that provides outsourced marketing to investment managers, including fund of funds and hedge funds. Our pitch to clients was basically, “We have years of marketing experience. We have thousands of contacts with investors. Don’t hire a marketing professional. Hire our firm, and you can outsource your entire marketing department to us.” Hedge fund managers are so busy, they’re always trading, meeting with their traders and focusing on operations. It’s difficult for them to find the time to do the marketing work.

What changes have you seen in the job market for hedge fund professionals?

Many hedge funds that were expanding, as recently as two or three months ago, including large groups like Citadel, but also small groups in the $20 to $50 million range, are now waiting to see what happens because their performance is slightly negative and they’re not sure how that’s going to affect their marketing.

A lot of funds are still outperforming the average fund, but many are wondering, with the new presidential administration, and the SEC probably taking action after such a large retraction, how some new regulations might hinder the industry from growing as quickly as it in the past. I think a lot of people are playing the wait-and-see game, both with their money, in terms of allocating the cash, but also in terms of allocating to new positions. The only exception to that is probably in the marketing and sales area. There are some hedge funds which have positive performance and so they are optimistic about what that is going to do for their marketing. They are very hungry to bring on new marketing and sales professionals to take advantage of their track record and really get the word out.

What sort of background do you need for a hedge fund marketing job?

Generally if a firm is hiring for hedge fund marketing jobs, they want you to have hedge fund marketing experience. Sometimes people are willing to take on somebody who’s green to the financial industry and move them up the learning curve. But it’s not too common, and you won’t be paid nearly as much, because you’ll need to get your security exams and have your license in place. You need to learn the lingo and how everything works. It takes six months to get you productive instead of two months, if you’ve already been in the industry.

Even if you are working in a marketing function, do you still need to be licensed?

It depends if you’re working for an external marketing firm, which is quite common today, or if you’re working inside a hedge fund. Some funds and hedge fund consulting companies that work in the marketing space are more strict about that than others. It comes up fairly often as part of the job interview discussion and it can be a barrier to entry for some folks.

To be licensed, you have to be sponsored by a broker/dealer. So it’s kind of a Catch 22 in terms of having to get licensed but not having a job yet. A lot of times you have to wait until you get hired.

Is this still a good time to be looking for a job in hedge funds?

I think if you really want to work in the industry then it’s always a good time. And you should be working as hard as you can. If you’re passionate about it, you should never stop. And if you’re not that passionate about it, then maybe you shouldn’t even try in the first place. It’s really competitive, and the first two or three years will probably be relatively tough in terms of compensation and trying to find positions.

There are people who say, “I want to work in the hedge fund industry. Period.” They identify the 2-3 positions they are most interested in. Then they commit to contacting 100 firms that offer those types of services or strategies. These people will probably get a job. It’s always a good time if you’re really passionate and really want to get in.

To learn more about the CHA Designation please visit http://CHADesignation.Org.

Related Terms: Hedge Fund Job Search, Jobs in Hedge Funds, Hedge Fund Job, Hedge Fund Jobs New York, Hedge Fund Job New York, Hedge Fund, Hedge Fund Career, careers

Hedge Fund Paralegal

Hedge Fund Paralegal Position Open

Just a quick note to alert you to a new job listing within the Compliance & Legal Hedge Fund jobs Category.

A hedge fund in Minnesota is looking to hire a paralegal this quarter. For more information please see the job listing page here: Legal & Compliance Jobs

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Third Party Marketing Career

Hedge Fund Third Party Marketing Careers

If you are starting a third party marketing career you are in good company, dozens of highly experienced investment and hedge fund marketing/sales professionals are entering the industry each year. In terms of total firms offering services the industry is growing by over 15% each year. While some professionals may leave an investment manager or hedge fund to start their own third party marketing firm many more first work or partner with an existing third party marketing firm. The benefits of starting or working for a third party marketing firm are many and doing either is relatively easy to do.

If you can raise capital, and consistently bring in $100m-$200M/year you can typically eliminate most types of political/corporate risks while earning 2-10x more than you would while working for a large institution such as Lehman Brothers or Goldman Sachs. As the economy goes through this rough patch and bonuses are skimmed and 50 year old executives laid off I see this trend of third party marketing startups and career moves increasing.

- Richard

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Hedge Fund Jobs

4 Tips for Industry Switching

Every day I get resumes from industry switchers, folks who’ve built a career in mortgage lending, medical sales, engineering, etc… and want to move into the hedge fund world for the big money. It’s a hard time to try the switch because the financial sector has been hit hard: hedge funds are running leaner and meaner. It’s also a challenging time because the poor economy, particularly the implosion of the mortgage industry, has flooded the hedge fund world with thousands of applicants vying desperately for any chance to make big money again. But we don’t always get to choose our timing! So here are 4 tips to help you MAXIMIZE your chances of making a successful industry switch:

1. Back to school. One established path for industry switchers is the full-time MBA programs at top universities. Every year, folks enter Harvard, Wharton, Stanford, and other top schools with a game plan to hop from some other industry into financial services upon graduation. And many of them are successful at switching. This path includes taking the Summer between years to do an internship at a financial services firm. It also includes taking a pay cut, at least at first. Despite these sacrifices, the path can work. If this option would fit into your life, it’s something worth considering. Keep in mind that only top 20-ish schools make the cut. Generally speaking, hedge funds and investment banks focus their MBA recruitment energy at the top schools.
2. Industry designations. The Hedge Fund Group (HFG) and many others offer hedge fund and investment related certifications and designations. These show that you’ve learned the terminology and are serious. For someone making a switch, those two things can really set you apart! Keep in mind that these tools will not allow you to walk into a management job or a senior analyst role unless you’re an amazing stud (or studlet) from an industry with very transferrable skills (e.g. sometimes pedigreed and successful statisticians, mathematicians, engineers, or physicists can walk into high-level analyst or even PM jobs). Nevertheless, if you’re trying to break into the industry, designations and certifications can be ice-breakers.
3. Network, network, network. If you want to switch into the industry, you’re not going to get in by sending your resume to headhunters. Firms hire headhunters to fill specific roles and when they’re paying recruitment fees they expect industry-insiders with know-how, track record, and CONTACTS. Firms do not hire headhunters to supply them with random resumes of people from random industries with no industry contacts. You’re also not going to get a shot by posting your resume on an online job database or job board, even a financial services or hedge fund oriented site. Again, firms only go to these sources to fill a very specific need and they are looking for people with experience, track record, and industry contacts. Does this mean you’re wasting your time? Heck no! But your path to success is not posting or emailing your resume. If you’re going to industry switch, you need to get a foot in the door with someone you know. This means networking, lunches, trade shows, getting to know people and then expanding your web of contacts. People in all industries hire friends and acquaintances from outside of their industry – knowing that they can ramp them up to speed. It’s the same thing in the hedge fund world. Breaking in through friends and acquaintances is pretty easy. Breaking in by emailing your resume to headhunters and posting it online is a waste-o-time.
4. Commission-only capital raising. If you’re willing to dial-for-dollars on a commission-only basis until you prove yourself, there are openings for you everywhere. Just directly apply to firms and you’ll find that a significant percentage will be willing to talk. Just make sure you look and sound sharp. Even commission-only, you’re still representing the firm.

If you’re an industry switcher, you’ve got to differentiate yourself from the 5 million people flooding cyberspace with their resume right now. Use these tips and you’ll blaze a path to your new career in the alternative investment world.

Marc Goormastic of Goormastic Executive Search

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Tags:Entry Level Hedge Fund Jobs, Hedge Fund Jobs, Finding a Hedge Fund Job, How to get a hedge fund job? Advice on obtaining a hedge fund job, hedge fund recruiters advice, tips to get a hedge fund job

Financial Certification

Financial Certification in Hedge Funds

Here is the result of a recent interview I completed with the Financial Times regarding the Hedge Fund Group (HFG) and Certified Hedge Fund Professional (CHP) Designation, a new financial certification. Thanks to Fintag for the friendly (overly friendly) plug over on his blog here.

Here is a short excerpt from the Financial Times article:

“Students can receive qualifications for almost anything, be it a “maple syrup” course at New York’s Alfred University or “cyberfeminism” at Cornell. Basic economics teaches that so long as there is demand and resources, supply will shortly follow.

Richard Wilson, founder of the Hedge Fund Group (HFG), a professional networking organisation, witnessed a demand for a programme dedicated to the study of hedge funds. This discovery led to the Certified Hedge Fund Professional (CHP) Designate initiative. Mr Wilson previously worked for a currency and commodity hedge fund and a fund of funds in South Africa before joining a hedge fund marketing firm.

The charter he has helped create is a programme designed to prepare students for life in a hedge fund. “It will also save two-thirds of training on the job and enable them to walk right in and know what is going on,” says Mr Wilson.

The Chartered Financial Analyst and Chartered Alternative Investment Analyst are well established rival programmes. The CHFA project, launched in mid-July, is designed to be similar, but not a copy of others…. An online training forum provides career advice, CV checks, and access to a directory of managing directors and recruiters for students. Students gain admission to the Hedge Fund Group (HFG) and its 9,000 members.

The charter received roughly 900 applications for the first year, but intake was limited to 100…. “The Hedge Fund Group (HFG) team has been fabulous. They answer every question quickly, accurately and professionally. It’s this stuff that, quite simply, builds credibility,” says, Sameer Vishwanathan, a new student of the CHP Designation Program.”

Here is the full article.

Certified Hedge Fund Professional (CHP) Links

• Top 10 Certified Hedge Fund Professional (CHP) Designation Benefits
• Certified Hedge Fund Professional (CHP) Overview
• Hedge Fund Group (HFG) Board of Advisors
• CHP FAQ
• CHP Study Guide
• CHP Registration

- Richard

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Middle Office Jobs

Middle Office Job & Operations Jobs Available

Just a short note that I’ve posted two new open hedge fund positions to the Finance and Accounting Job section of my Hedge Fund Job Listings page.

The first is a Hedge Fund Operations Associate position and the other is a Hedge Fund Middle Office Associate position. To view both please see this page: Finance and Accounting Jobs.

- Richard

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Analyst & Due Diligence Jobs

Please see below for open analyst and due diligence jobs within the hedge fund industry:

Position #1: Operational Due Diligence Analyst (New York Tri-State Area)
A New York Tri-State area hedge fund of fund specializing in global investments is seeking an Operational Due Diligence Analyst to assess operational risks and identify potential control weaknesses of hedge funds and private equity funds that the firm intends to invest in. The position requires a good understanding of hedge fund and private equity fund structures, operational processes, controls and service providers.

• Job Description: Research, analyze, and document the operational process and controls of investment advisors. Coordinate, prepare, and conduct due diligence site visits/calls with potential and existing investment advisors to evaluate their processes, policies, procedures and controls. Coordinate problem resolution with colleagues in related functional disciplines including Legal, Compliance and Product Management. Continuously benchmark and upgrade our processes to adjust for industry developments and improvements in best-practices
  
• Required Skills: 3-5 years of Alternative Investment audit experience from BIG 4 or current due diligence experience from a FOF or Hedge Fund
• Compensation: Base $90K-$110K before bonus

Apply: If you meet the required experience and skills for this position and would like to apply please send your resume and relevant background details to Ross Weil at RWeil@BOCStaffing.com

Open Position #2: Senior Retail Analyst – The Senior Retail Analyst will be working with the senior team to design and build our research product in retail and restaurants.

This is a unique opportunity to help craft a sector and its associated offerings. We have access to and are currently vetting several proprietary databases and information sources that have proven extremely valuable in providing transparency into the fundamental drivers for many companies in the sector. Our highly differentiated approach, which triangulates across multiple proprietary data sets and other information, will allow our Retail team to provide insight that no other firm can match.

• Responsibilities: Working with research and development and business development teams to craft a world-class product offering. Building out a research team for the retail sector, including hiring associates. Aggressively marketing the research product, including traveling regularly with Sales for client and prospect visits, talking intermittently to printed press and TV, and overseeing periodic industry expert dinners with clients. Working with the Director of Business Development to identify new unique proprietary sources of data in the Technology space that will allow us to triangulate our research and expand our coverage
• Requirements: Minimum of 3 years covering retail and/or restaurant names on either the buy-side or the sell-side. Comfort with and passion for data. Outstanding verbal and communication skills. Sales-oriented mentality. Bachelor’s degree (MBA/CFA and/or advanced engineering degree preferable). Outstanding academic record from top institution(s). Minimum 4 years’ experience either on the buy-side or the sell-side or possibly from the industry for a particularly outstanding candidate.

Apply: If you meet the required experience and skills for this position and would like to apply please send your resume and relevant background details to Eric Krause at ersusgroup@comcast.net

Please email Richard@HedgeFundGroup.org to add your open position here now.

Not interested in these positions but interested in looking at other open hedge fund jobs? Please see HedgeFundBlogger.com’s Hedge Fund Job Listings page.

- Richard

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Investment Book

Investment Book on Hedge Funds

In 1 week I will be updating my free investment book on hedge funds – The Hedge Fund Blog Book. So far this book has had over 7,000 downloads. Once it reaches 100,000 I will publish a “real book” in paper back form.

I am looking for more tips and short interview pieces with industry experts. If you have been in the industry for 7 or 10+ years I could appreciate any lists of:

• Top 10 hedge fund marketing tips
• Top 10 tips for gaining employment in the hedge fund industry
• Top 10 tips for starting a hedge fund

To submit these or other pieces of wisdom please email me at Richard@HedgeFundGroup.org and I will include most submitted pieces here on my blog and then also within the next version of the Hedge Fund Blog Book.

To download the book for free now please visit http://hedgefundsbook.com

- Richard

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Hedge Funds Job

Getting Your Foot In The Door

I’m constantly getting asked: “How do I get my foot in the door and get my first hedge funds job?” Everybody wants to get in, especially ex-mortgage people. The perception is of astronomical pay, glamor, Hickey Freeman suits, Ferragamo shoes. Here are 3 tips to wedge your foot in that door…

1) Work for free. Industry switching usually means taking a cut in pay. To get your foot in the door, be willing to start commission-only or at a very low pay rate. Once you prove yourself valuable there will be plenty of opportunity.

2) Improve your pedigree. While there may be a few people involved with hedge funds who didn’t graduate from a good college – they are either unusually experienced or unusually brilliant. For most of us, pedigree matters. Consider going back for an MBA at a “name school”. Full-time programs are more fashionable than executive programs if you’re making an industry switch. Consider industry-specific training program and designations such as the CAIA, CHA, CPA or CFA.

3) Have friends on the inside. Getting hired off the street into a hedge fund, even for an entry-level job, is pretty hard. Getting hired at a hedge fund where one of your good friends works is not so hard. Keith Ferrazzi’s book “Never Eat Alone” is a new classic. Read it and then read it again.

Remember that the financial market is pretty tough right now. A lot of folks are sitting on the sidelines with their money and hedge funds, like everyone else, are trying to run lean and mean. Top performers with track record, pedigree, and “know how” are prized. Random people who washed out of other industries are in LOW demand. To get your foot in the door you’ll need to go the extra mile. That’s not what everyone wants to hear, but it’s the truth.

Marc Goormastic of Goormastic Executive Search

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Hedge Fund Jobs

Getting Your Foot In The Door

I’m constantly getting asked: “How do I get my foot in the door at a hedge fund?” Everybody wants to get in, especially ex-mortgage people. The perception is of astronomical pay, glamor, Hickey Freeman suits, Ferragamo shoes. Here are 3 tips to wedge your foot in that door…

1) Work for free. Industry switching usually means taking a cut in pay. To get your foot in the door, be willing to start commission-only or at a very low pay rate. Once you prove yourself valuable there will be plenty of opportunity.

2) Improve your pedigree. While there may be a few people involved with hedge funds who didn’t graduate from a good college – they are either unusually experienced or unusually brilliant. For most of us, pedigree matters. Consider going back for an MBA at a “name school”. Full-time programs are more fashionable than executive programs if you’re making an industry switch. Consider industry-specific training programs and designations.

3) Have friends on the inside. Getting hired off the street into a hedge fund, even for an entry-level job, is pretty hard. Getting hired at a hedge fund where one of your good friends works is not so hard. Keith Ferrazzi’s book “Never Eat Alone” is a new classic. Read it and then read it again.

Remember that the financial market is pretty tough right now. A lot of folks are sitting on the sidelines with their money and hedge funds, like everyone else, are trying to run lean and mean. Top performers with track record, pedigree, and “know how” are prized. Random people who washed out of other industries are in LOW demand. To get your foot in the door you’ll need to go the extra mile. That’s not what everyone wants to hear, but it’s the truth.

Marc Goormastic of Goormastic Executive Search

Permanent Link: Entry Level Hedge Fund Jobs

Tags: Entry Level Hedge Fund Jobs, first hedge fund jobs, getting a hedge fund job, how to get a hedge fund job

Marketing Internship

Third Party Marketing Internship

If you are looking for an internship within the area of third party marketing or hedge fund marketing please send me an email. We have room for two additional non-paid interns who would like to get their feet wet in this area and build a strong foundation of knowledge to start a career on. To apply please send an email to Richard@HedgeFundGroup.org.

Permanent Link: Third Party Marketing Internship

Tags: Third Party Marketing Internship, Hedge Fund Marketing Internship, Hedge Fund Sales Internship, 3PM Internship, Hedge Fund Capital Raising Internship

Hedge Fund Recruiting

Hedge Fund Recruiting – 3 Secret Handshakes

When I first glance at your info, there are clues right off the bat that tip me to either keep reading or hit the “delete” key. You might call these “secret handshakes” because top recruiters and hiring managers know them but they’re rarely discussed. Getting these right doesn’t guarantee you the job. It’s table stakes at the highest levels of competition. Here are 3 hallmarks of “A” players who know the “secret handshakes”:

1. Be Concise. Great people at great companies are concise. They have to be because they’re busy and their time is worth a lot of money. When I see resumes and emails with blathering I know the person just doesn’t get it. Ditto with phone and in-person interviews. A failure to be concise makes you look insecure, inconsiderate, and weak. Cut to the chase.

2. Be Discrete. Great people keep confidences and err on the side of understatement. They avoid gossip and they avoid trashing people or organizations. When ethics demand whistleblowing, they handle it professionally. That means revealing the problem through the proper channels to the proper authorities with no “leaking” and no drama creation. Discrete people are balanced when revealing their own past mistakes – giving adequate disclosure without getting too personal or graphic.

3. Focus On Results, Not Activities. Great people are results-driven. They get excited talking about what they have gotten done. Great people know that preparation, planning, meetings, and process-mapping are meaningless by themselves. Nothing happens until something happens. If the resume details accomplishments and achievements then my interest grows. If a resume limps along with gems like “managed relationships with 200 broker-dealer offices in 4 states” and “oversaw department of 20 people”, I start wondering whether you just like to run up the phone bill and sit on a pile of overhead.

If your resume suggests conciseness, discretion, and results-orientation then content begins to matter. Without these three things, it really doesn’t matter that you went to Stanford or worked at Citadel. Resumes don’t always give a clue to all three “secret handshakes” and that’s okay. No news is good news. But if your resume shows these things, it’s a leg up against the competition. Savvy recruiters gather info on these traits in the phone screen and the in-person interviews, so keep them in mind at all times. These 3 “secret handshakes” are key emotional intelligence competencies: they are common to almost all true “A” players.

- Guest Blogger Marc Goormastic of Goormastic Executive Search

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7. Join the Hedge Fund Group (HFG)
8. Certified Hedge Fund Professional (CHP)
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10. Chartered Financial Analyst CFA

Permanent Link: Hedge Fund Recruiting – 3 Secret Handshakes

Tags: Hedge Fund Recruiting, Recruiting for Hedge Funds, Alternative Investment Recruiting, Fund of Hedge Fund Recruiting, Hedge Fund of Funds Recruiting

Hedge Fund Recruiting

Hedge Fund Recruiting – 3 Secret Handshakes

When I first glance at your info, there are clues right off the bat that tip me to either keep reading or hit the “delete” key. You might call these “secret handshakes” because top recruiters and hiring managers know them but they’re rarely discussed. Getting these right doesn’t guarantee you the job. It’s table stakes at the highest levels of competition. Here are 3 hallmarks of “A” players who know the “secret handshakes”:

1. Be Concise. Great people at great companies are concise. They have to be because they’re busy and their time is worth a lot of money. When I see resumes and emails with blathering I know the person just doesn’t get it. Ditto with phone and in-person interviews. A failure to be concise makes you look insecure, inconsiderate, and weak. Cut to the chase.

2. Be Discrete. Great people keep confidences and err on the side of understatement. They avoid gossip and they avoid trashing people or organizations. When ethics demand whistleblowing, they handle it professionally. That means revealing the problem through the proper channels to the proper authorities with no “leaking” and no drama creation. Discrete people are balanced when revealing their own past mistakes – giving adequate disclosure without getting too personal or graphic.

3. Focus On Results, Not Activities. Great people are results-driven. They get excited talking about what they have gotten done. Great people know that preparation, planning, meetings, and process-mapping are meaningless by themselves. Nothing happens until something happens. If the resume details accomplishments and achievements then my interest grows. If a resume limps along with gems like “managed relationships with 200 broker-dealer offices in 4 states” and “oversaw department of 20 people”, I start wondering whether you just like to run up the phone bill and sit on a pile of overhead.

If your resume suggests conciseness, discretion, and results-orientation then content begins to matter. Without these three things, it really doesn’t matter that you went to Stanford or worked at Citadel. Resumes don’t always give a clue to all three “secret handshakes” and that’s okay. No news is good news. But if your resume shows these things, it’s a leg up against the competition. Savvy recruiters gather info on these traits in the phone screen and the in-person interviews, so keep them in mind at all times. These 3 “secret handshakes” are key emotional intelligence competencies: they are common to almost all true “A” players.

- Marc

Permanent Link: Hedge Fund Recruiting
Tags: Hedge Fund Recruiting, Recruiting for Hedge Funds, Alternative Investment Recruiting, Fund of Hedge Fund Recruiting, Hedge Fund of Funds Recruiting

Hedge Fund Job Tips

Hedge Fund Job Advice + Tips

I recently wrote a hedge fund career related article for Investopedia.com on how to get a hedge fund job. This is a short two page article which details from my experience what tangible steps one can take to work in the hedge fund industry. The steps I suggest include:

1. Make sure you really want to get a hedge fund job
2. Become a student of the hedge fund industry
3. Use the 3 circles strategy for your career decision making progress
4. Identify several mentors to help you secure a hedge fund job
5. Complete multiple hedge fund internships
6. Develop your unique value proposition
7. Hedge fund job tips
8. Land the unadvertised hedge fund job
9. Consider hedge fund service provider jobs
10. Apply to hedge fund jobs

To read the advice given under each of these 10 sections please read the full 2 page hedge fund career advice article here: http://www.investopedia.com/articles/financialcareers/08/hedge-fund-career.asp

- Richard
HedgeFundsCareer.com

Permanent Link: Hedge Fund Job Tips
Tags: Careers,finance,money,jobs,job,job tips,investments,investing,blogs,employment,recruiting,wall street,hedge funds,hedge fund

Get a Hedge Fund Job

Get a Job at a Hedge Fund

I recently wrote a hedge fund career related article for Investopedia.com on how to get a job at a hedge fund. This is a short two page article which details from my experience what tangible steps one can take to work in the hedge fund industry. The steps I suggest include:

1. Make sure you really want to get a hedge fund job
2. Become a student of the hedge fund industry
3. Use the 3 circles strategy for your career decision making progress
4. Identify several mentors to help you secure a hedge fund job
5. Complete multiple hedge fund internships
6. Develop your unique value proposition
7. Hedge fund job tips
8. Land the unadvertised hedge fund job
9. Consider hedge fund service provider jobs
10. Apply to hedge fund jobs

To read the advice given under each of these 10 sections please read the full 2 page hedge fund career advice article here: http://www.investopedia.com/articles/financialcareers/08/hedge-fund-career.asp

Read dozens of additional articles related to Hedge Fund Jobs by visiting the Hedge Fund Employment Guide.

- Richard

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7. Hedge Fund Careers
8. Hedge Fund Associations
9. Chartered Alternative Investment Analyst (CAIA)
10. Hedge Fund Newsletter

Permanent Link: Get a Job at a Hedge Fund

Tags: Get a Job at a Hedge Fund, How to Get a Job at a Hedge Fund, Tips on How to get a Hedge Fund Job, How to get a Fund of Hedge Fund Job,hedge funds,careers,finance,investments,wall street,money,investing,blogs,blogging

Third Party Marketing Career

Third Party Marketing Careers

If you are starting a third party marketing career you are in good company, dozens of highly experienced investment and hedge fund marketing/sales professionals are entering the industry each year. In terms of total firms offering services the industry is growing by over 15% each year. While some professionals may leave an investment manager or hedge fund to start their own third party marketing firm many more first work or partner with an existing third party marketing firm. The benefits of starting a third party marketing firm are many and relatively easy to implement.

If you can raise assets, and consistently bring in $100m-$200M/year you can typically eliminate most types of political/corporate risks while earning 2-10x more than you would while working for a large institution such as Lehman Brothers or Goldman Sachs. As the economy goes through this rough patch and bonuses are skimmed and 50 year old executives laid off I see this trend of third party marketing startups only increasing.

Permanent Link: Third Party Marketing Careers
Tags: Third Party Marketing Careers, Third Party Marketing Career, 3PM Career, Third Party Marketing Startups, Third Party Marketing Career, Third Party Marketing Jobs, Hedge Fund, Hedge Funds, investments, investing, finance, marketing, sales, jobs, careers, employment