Afternoon Monkeys! Doing an equity research internship this summer at Wells Fargo. Worked at a $2b hedge fund last summer sophomore year. Looking to break into HF full time, I like Viking, Baupost and Tiger a lot. Anyone has info on the recruiting dates for 2025 HF full time? Any insights on the timeline would be greatly appreciated. Thanks!
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Viking, Baupost and Tiger must be very honored that they are on your radar.
I don't think any of those funds hire out of undergrad lmfao. Best bet is to land P72 Academy or Citadel CAP full-time. Also the RA programs at the top LOs.
what are good top LO programs?
Wellington, fidelity, cap group, t rowe, D&C, Harris
All of those shops combined take 25 or less FT hires and hire primarily through their internship programs. Almost impossible to land a LO program unless you intern (which is almost impossible to get as well)
HF recruiting is materially different than IB / PE. You don't have a set number of analysts coming in each year (aside from like the p72 academy but that doesn't even guarantee you a LT seat). Analyst adds are ad hoc when either the fund is growing or someone leaves. HF AUM is very scalable so even the biggest single manager shops (eg Tiger) can run the strategy with 20-30 investment professionals. The funds you mentioned, for the most part, are hiring out of PE or from other HFs. I'm sure there are a few shops that would hire directly out of undergrad but you will likely need to try and leverage your personal / school alumni network to try and find those. Even if you want to work on the buyside longer term, I would honestly recommend still going to the sellside first (with a preference for IB over ER). Sellside environment gives you the opportunity to learn some of the basics, and more importantly make mistakes that don't cost your firm money. Most buyside shops are going to be much more of a trial by fire (with little to no formal training) so you're better off getting a lot of the dumb mistakes out of the way before you get there.
Nothing wrong w/ LOs but if your goal is HF longer term you'd be better off going the IB/ER route over that
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