Getting a Job in Hedge Funds: An Inside Look at How Funds Hire (Glocap Guide)
By Adam Zoia, Aaron Finkel

                                CONTENTS

Chapter I :Getting Started 1

• Bigger and Bigger 2

• What Is a Hedge Fund? 3

• Hurdles and High-Water Marks 5

• Hedge Fund Styles 5

• Developing Your Search 11

Chapter II Out of Undergraduate School 17

• Be an Investor 18

• Hit the Books 18

• The First Step: An Analyst Program 18

• Positioning Yourself for an Analyst Program 19

• Hedge Fund Internships 20

• Other Options 21

• Choosing the Right Banking Group 21

• What if I Get an Offer? 21

Chapter III Pre-MBA 23
 

• Out of an Analyst Program 23

• Being in the Right Group 25

• Traders 26

• Out of Private Equity 27

• Consulting 28

• Case Studies 28

Chapter IV Out of Business School 49

• Positioning Yourself 51

• Case Studies 52

Chapter V Getting in Later in Your Career 59

• Industry Expertise 60

• Lateral Moves 60

• Interviews 62

• Case Studies 63

Chapter VI Fund Marketing 75

• The Roles 76

• Career Path 77

• Room for Undergraduates 77

• Positioning Yourself 77

• Sample Job Searches 79

• Case Studies 81

Chapter VII Risk Management 87

• Risk Hierarchy 88

• Room for Undergraduates 89

• Fund of Funds 89

• Career Path 90

• Positioning Yourself 90

• Sample Job Searches 91

• Case Studies 93

Chapter VIII Operations 99

• The Roles 99

• Positioning Yourself 100

• Sample Job Searches 101

• Case Studies 104

• Chapter IX Accounting 109
  

• Career Path 110

• Positioning Yourself 111

• Interviews 112

• Sample Job Searches 112

• Case Study 115

• Chapter X Fund of Hedge Funds 119
  

• What Is a Fund of Funds? 119

• A Major Asset Class 119

• Roles and Responsibilities 120

• Sample Job Searches 122

• Case Study 123

Chapter XI The Resume 127

• Format 128

• The Objective 128

• Keep it to One Page 128

• Be Honest 128

• Jobs: Be as Descriptive as Possible 129

• Have You Invested? 129

• Anything Is Fair Game 129

• Don’t Forget the Months 129

• Mind the Gaps 130

• Test Scores Matter 130

• What about High School? 130

• The Personal Section 130

• Language/International 131

• Some Other Dos and Don’ts 131

Chapter XII The Interview 133

• The Process 133

• Some General Tips 135

• The “Why Hedge Fund?” Question 137

• Investing 137

• Personal/Fit Questions 138

• Technical Questions 139

• Brainteasers/Logic Questions/Problems 139

• Thought-Provoking Questions 140

• Investment Ideas/Case Studies 140

Chapter XIII Compensation 143

• Hedge Funds versus Private Equity 144

• Investment Professionals 144

• Profi t-Sharing Bonuses 145

• Traders 146

• Risk Management 147

• Marketers 147

• Accounting 148

• Operations 148

Chapter XIV Working with a Recruiter 149

• Tips for Getting the Most Out of a Recruiter 150

• Appendix A Resources 153

• Appendix B Sample Resumes 161