[Nismo G]

Just curious if anyone in here works or has worked for/with a hedge fund? Not really looking for a specific type of fund, just in genera (large, small, long/short, market neutral)l. I am thinking of changing jobs and would like some input. I currently work for a brokerage firm, i won't say which one, but we have about 3 Trillion in assets and in the grand scheme of things we are a "small firm". Great company, but i feel like my career here is getting a little boring and it will take a while to move to where i want to be. With that said, I am by no means a lazy worker or impatient with career moves...right now i put in around 65-70 hours a week, but in order to get where i want to be this will be the norm for about another 5 years...

With all that said i come from a trading background in derivatives. Since I worked on a desk for high net worth clients I am used to dealing with large orders usually $500k+. Largest order I have worked by myself has been $20MM. Even though my team was an options desk, we still executed orders for money markets, MFs, and stocks. I am very familiar with margin for both day traders and long term investors.

I am looking at applying for trading jobs at some local hedge funds (Boston) and I have noticed that a lot of them want programming experience as well, which I don't have, but this week i have been working with Python just to learn basics etc.

If anyone has any direct experience I'd love to hear your thoughts...I am even open to hearing "well i've heard" stories.

Thanks!

[P1]

No, not me. Sorry.

[Volrath]

Are you looking for a trader position or looking to help run a portfolio? Have a CFA?

You'll find that trader jobs are usually not super exciting and you had mentioned being bored

[Nismo G]

Looking at just a trading job right now. Learn the mechanics of how a HF runs...probably work towards CFA if I were to take a trader position.

[Volrath]

Originally Posted by Nismo G

Looking at just a trading job right now. Learn the mechanics of how a HF runs...probably work towards CFA if I were to take a trader position.

Most larger hedge funds won't even consider you unless you have passed lvl 2 CFA and or have some serious employment history. Just FYI. I would start for a larger company ie. Janus, JP Morgan, etc. as a intern/entry level trader. Gain some experience and work your way up. Possibly lateral move after a few years.

Keep in mind most equity/derivative traders make sizable incomes and that is not something you can just jump into without advanced experience.

Oh and BTW 3 Trillion in assets, is not small.

[bimmerfrk]

Originally Posted by Nismo G

Just curious if anyone in here works or has worked for/with a hedge fund? Not really looking for a specific type of fund, just in genera (large, small, long/short, market neutral)l. I am thinking of changing jobs and would like some input. I currently work for a brokerage firm, i won't say which one, but we have about 3 Trillion in assets and in the grand scheme of things we are a "small firm". Great company, but i feel like my career here is getting a little boring and it will take a while to move to where i want to be. With that said, I am by no means a lazy worker or impatient with career moves...right now i put in around 65-70 hours a week, but in order to get where i want to be this will be the norm for about another 5 years...

With all that said i come from a trading background in derivatives. Since I worked on a desk for high net worth clients I am used to dealing with large orders usually $500k+. Largest order I have worked by myself has been $20MM. Even though my team was an options desk, we still executed orders for money markets, MFs, and stocks. I am very familiar with margin for both day traders and long term investors.

I am looking at applying for trading jobs at some local hedge funds (Boston) and I have noticed that a lot of them want programming experience as well, which I don't have, but this week i have been working with Python just to learn basics etc.

If anyone has any direct experience I'd love to hear your thoughts...I am even open to hearing "well i've heard" stories.

Thanks!

Yep but I work at a hedge fund on the IT side of things. I am an infrastructure manager between our NYC and London offices. Mainly focus on DR capability and implementing low latency / high frequency trading environments.

[jophish17]

Originally Posted by Volrath

Oh and BTW 3 Trillion in assets, is not small.

Yeah 3 trillion is huge. Like Black Rock huge

[Flying Ace]

Originally Posted by bimmerfrk

Yep but I work at a hedge fund on the IT side of things. I am an infrastructure manager between our NYC and London offices. Mainly focus on DR capability and implementing low latency / high frequency trading environments.

Can you cause a flash crash for me tomorrow at noon eastern? I need to deploy some cash. Thanks

[bimmerfrk]

Originally Posted by Flying Ace

Can you cause a flash crash for me tomorrow at noon eastern? I need to deploy some cash. Thanks

Have a gander at UWTI. Its leveraged but trade it correctly and its a cash cow at x3. With this guy volatility is your friend if you know how to use it to your advantage.

[fcman]

65-70 hours a week? Good lord man. Can somebody explain to me why people do this to themselves? I consider it a busy week if I'm in the office for the full 40 hours.

[Flying Ace]

Originally Posted by fcman

65-70 hours a week? Good lord man. Can somebody explain to me why people do this to themselves? I consider it a busy week if I'm in the office for the full 40 hours.

$?

[fcman]

Originally Posted by Flying Ace

$?

How much money though? If we are talking <$250k/year it's not worth it to me. Almost everyone I know is in finance/accounting and they all bust their asses for less than extraordinary pay.

[smyles]

Originally Posted by fcman

65-70 hours a week? Good lord man. Can somebody explain to me why people do this to themselves? I consider it a busy week if I'm in the office for the full 40 hours.

Hope to make it big.
Only to discover very few make it. And when they do, most of the life is over.

[Flying Ace]

Originally Posted by fcman

How much money though? If we are talking <$250k/year it's not worth it to me. Almost everyone I know is in finance/accounting and they all bust their asses for less than extraordinary pay.

oh no...more than $250k

I'm guessing a mid-level is at least $350 + bonus.

But pay is not commensurate to the amount of time certain staff spend though. You have interns and first year analysts who aren't making $300k+ who tend to work the longest hours. Obviously, their goal is to get to the mid-level in 3 years.

[fcman]

Originally Posted by Flying Ace

oh no...more than $250k

I'm guessing a mid-level is at least $350 + bonus.

But pay is not commensurate to the amount of time certain staff spend though. You have interns and first year analysts who aren't making $300k+ who tend to work the longest hours. Obviously, their goal is to get to the mid-level in 3 years.

You're talking hedge funds Im guessing? OP said he does those hours now at a brokerage firm, no way he's making even close to that, that's what I'm taking about. I could definitely see working those hours for a hedge fund.

[BwoodBMW]

Originally Posted by fcman

65-70 hours a week? Good lord man. Can somebody explain to me why people do this to themselves? I consider it a busy week if I'm in the office for the full 40 hours.

Welcome to the world of finance jobs... people love to complain about how much "finance guys" make but they forget the level of sacrifice it takes to get there...

[fcman]

Originally Posted by BwoodBMW

Welcome to the world of finance jobs... people love to complain about how much "finance guys" make but they forget the level of sacrifice it takes to get there...

That's why I'm in software development. High pay, high freedom.

[Flying Ace]

haha, I technically work in finance. I work for a small commercial bank, but in the last 2 months, I frequently logged 50-60 hour weeks.

[bimmerfrk]

Originally Posted by fcman

That's why I'm in software development. High pay, high freedom.

WORD! IT in finance is the shhhiiit! I'm out of the office by 4pm every day. Let the junior guys work on most shit I just supervise and make sure it all flows so the higher ups think I do all the work and then I get my yearly bonus.

[RJVIII]

Become a CFA. Do you have a MBA?

[other_evolved]

$3T in AUM?? That's far from a small firm, lol. Merrill is around that level, if I'm remembering correctly.

[chris82]

Originally Posted by fcman

How much money though? If we are talking <$250k/year it's not worth it to me. Almost everyone I know is in finance/accounting and they all bust their asses for less than extraordinary pay.

Wouldn't work 60-70 hours unless making over $250k? You guys have very high expectations for the finance industry. Of course the execs make that and then some, but finance guys I know out of college make dick hole unfortunately. Most times sub 50k, which is a god damn joke considering the amount you pay per month on loans for the education. I'm in the Philadelphia area and places like BNY Melon will start you out around 45-55k and that's in their center city office. That's the norm pretty much, but hey, gotta start somewhere.

Anyways, my cousin works at a hedge fund in NY, leaves around 7, rarely comes home before 9, that's with a 45 minute commute each way. No clue what he makes, but it's either a lot, or he really enjoys his job. I have a feeling it's a combo of both.