7.08.2005

Q&A: How is working at Hedge Funds different from working at Investment Banks?

I was $14k shy from taking up a job at a hedge fund, but from my research (before the interview) and inputs from friends working in that circle (and friends of friends), hedge funds tend to have very thin supporting cast (if any), quite unlike that at an investment bank. Supporting cast inlucde anything that ease the workload of traders, like performing ad hoc valuation, fixing Excel/VBA problems, trade entries and new recruits. Overall, It feels like working at a startup (like those back in the dotcom days), where you have to be ready to chip in in areas that are remotely related to your expertise. May be good if you like to learn the whole nine yards (ie. recent grads).

Most hedge funds are small, and the fund's strategy have a major influence on how things should be done. For example, a fund specialize in high frequency trading is most likely to have a much higher percentage of Ph.D. staff than a bank.

Category: C++ Quant

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