Many of the business school graduates are facing difficulties getting into the banking or investment arena. They can’t be choosy anymore because the competition is very stiff. Even those who are already holding menial jobs in banks see no room for career advancement unless you level up.
These days, the hedge fund internship is becoming increasingly popular. It is viewed as the solution to escape from a job that offers no financial security. What makes the program appealing is the potential of earning big bucks in the hedge fund domain.
The hedge fund internship
The hedge fund internship is basically the same as other internship programs. Interns are given proper training, exposure, and hands-on experience. However, the selection process is more rigid. It’s highly specialized because managing funds of high-end investors is a very sensitive matter.
Applicants with experience working in the banking sector or financial markets have the decided advantage. Hedge fund or asset management firms usually prefer those with at least a couple of years’ experience.
Hedge fund firms look for candidates who demonstrate a certain level of analytical skills. Such skill is important because the job entails analysis of a handful of data and formulating strategies. It’s easier to mold interns who possess those inherent traits.
If you’re skewed towards quantitative or statistical work, you can qualify as a researcher. Hedge funds need personnel who are fairly good with numbers. Much of the work is reviewing industry trends, forecasting, and valuation. Let them know if you have such talent.
Attention to details and problem-solver
Managing a portfolio requires someone who is task-oriented, organized, and attentive to details. Aside from that, an intern should have the ability to assist in solving problems and providing solutions.
Excellent social and communication skills
You need to exude confidence when you speak to the hiring manager. Having excellent communications skills is equally important in any hedge fund position. A vibrant and pleasing personality should also complement the speaking eloquence.
Some college students who want to get a head start can check out hedge fund internships for undergraduates if there are any. However, it’s very seldom to see a structured program. If not, plan early and prepare to apply for the internship.
Allocate sufficient hours for learning and studying. By the time your interview date comes, you’re more than ready. Always remember not to sell yourself short. What is important is to get into the program and stand out. You’ll have a solid reference to a ‘real’ job after successfully completing the hedge fund internship. You just have to go for it.