The position of a hedge fund manager is the kind of job that can bring you places and secure your financial future. But landing the post is not a walk in the park. At the onset, competition is very stiff and only a select few will claim the prize.
5 Ways to become a hedge fund manager
Your dream of landing the amply rewarding job of a hedge fund manager is conceivable. With determination and preparation, you can fulfill your destiny.
Business and finance background
If you’re keen on starting a career in the hedge fund industry, your educational background is your ticket. Usually, aspirants for entry-level positions or internship openings whose educational backgrounds are in accounting, economics, and finance are good candidates.
Hedge fund firms believe that these business majors are the best fit for internship programs or hedge fund junior positions like analysts and researchers. Training and assimilation to the job won’t be as burdensome if there is basic, core knowledge of business, finance, and investments.
Aside from the educational background, the college from where you came from can be a deciding factor. Hedge fund firms are particular about quality education as well as prestige. They want their team to be composed of individuals that are products of the best business schools.
The rationale is that you will deal with or sell to high-net-worth individuals. They are also discriminating when it comes to people they interact with. Partly too is that coming from a top-tier institution, you can easily establish a network or use business connections.
Educate yourself on the job
Your business major is good only from a theoretical standpoint. The real test begins when you gain entry into internship or given a hedge fund position. The situation is different in the actual work environment.
Besides aiming to excel in your post, always find time to learn the intricacies of the business and its operations. Feed your mind with hedge fund information from various sources. To be a hedge fund manager, you need to be well-rounded in every facet of the business.
Socialize and be visible
One of the admirable traits of a hedge fund manager is the exceptional social skills. Because it is a frontline position, developing harmonious working relationships is mandatory.
Socialize, mingle, and meet people who can be your future prospects or clients. Your social skills will also determine your readiness to assume higher responsibilities. Think of the potential income you can generate from referrals and recommendations.
Learn from mentors
At the start, you will be trained. Learn from your instructors or mentors. Don’t be reluctant to ask questions. It tells a lot about your willingness to learn if you’re inquisitive. Over time you’ll develop your own style and technique.
The career path to becoming a hedge fund manager is tough. You’ll navigate through a maze of challenges and tasks that seem insurmountable. That’s all part of the territory. There is no shortcut. But the ways mentioned here will get you there.