How hard is it to get into a hedge fund? Forum

[withoutapaddle]

I know law schools offer classes in securities, finance, and other corporate law classes that pertain to hedge funds and M&A.

I was wondering if hedge funds recruit at the T-14. I have experience in securities trading, so I was hoping to leverage that experience and get a law position with a hedge fund, venture capitalist firm, ect.

[NYCFAN1]

Very hard. You offer no value to a hedge fund out of law school.

Your most likely path would have to be V10 -> in-house at a bank ->hedge fund/vc capital. It's also possible to go from a top firm directly to a fund, but it's not really something you can plan for.

[withoutapaddle]

Thanks for the advice.

I figured it would be extremely difficult.

[sparty99]

I know law schools offer classes in securities, finance, and other corporate law classes that pertain to hedge funds and M&A.

I was wondering if hedge funds recruit at the T-14. I have experience in securities trading, so I was hoping to leverage that experience and get a law position with a hedge fund, venture capitalist firm, ect.

What actually would you do for the hedge fund? Cause they usually have outside counsel from a large New York Law Firm. The work is very transactional and very boring. You will draft side letters and do other boring work.

[Holly Golightly]

Paging the SRZ troll

[banjo]

Summer Associate at Schulte --> Hedge Fund

[jbagelboy]

how substantial is your work experience in trading? get a dual MBA if you're at one of the M7 or can pursue a joint program with one, summer in IB (or a blue chip law firm one summer and IB the next if 4-yr program), work as an IB associate for 2 yrs, transition to PE or hedge fund. Don't depend on a JD

[withoutapaddle]

how substantial is your work experience in trading? get a dual MBA if you're at one of the M7 or can pursue a joint program with one, summer in IB (or a blue chip law firm one summer and IB the next if 4-yr program), work as an IB associate for 2 yrs, transition to PE or hedge fund. Don't depend on a JD

I'll have two years experience as an Analyst in fixed income securities for Merrill Lynch when I apply. I was looking at Cornell for their JD/MBA program because it's three years rather than four, but I don't know if the MBA would be worth it from there.

Northwestern has a JD/MBA three year program, and it only requires the GMAT. I'd expect people going into this program would have on average 4-6 years work experience.

Northwestern is going to run me 300K. Is this worth it?

[jbagelboy]

how substantial is your work experience in trading? get a dual MBA if you're at one of the M7 or can pursue a joint program with one, summer in IB (or a blue chip law firm one summer and IB the next if 4-yr program), work as an IB associate for 2 yrs, transition to PE or hedge fund. Don't depend on a JD

I'll have two years experience as an Analyst in fixed income securities for Merrill Lynch when I apply. I was looking at Cornell for their JD/MBA program because it's three years rather than four, but I don't know if the MBA would be worth it from there.

Northwestern has a JD/MBA three year program, and it only requires the GMAT. I'd expect people going into this program would have on average 4-6 years work experience.

Northwestern is going to run me 300K. Is this worth it?

Wait what - you aren't in law school? wtf. clearly, don't apply to law school, apply to b-school only. come on man - this isn't a difficult choice at all. why would you apply to law school or a joint degree program if you don't want to work at a law firm or practice law. this is silly. are you applying to medical and pharma school as well?

[withoutapaddle]

I want to work in house for a hedge fund/big law firm for private equity transactions. I was also looking at securities law because I have experience in it.

The majority of people I talk to about this say get the MBA-->Investment banking summer associate position--> Investment banking assoicate.

Law is just something I've always wanted to do.

[jbagelboy]

I want to work in house for a hedge fund/big law firm for private equity transactions. I was also looking at securities law because I have experience in it.

The majority of people I talk to about this say get the MBA-->Investment banking summer associate position--> Investment banking assoicate.

Law is just something I've always wanted to do.

Fair enough. Have you considered exactly what you want to do with a hedge fund on the legal side? I'm only pressuring you on this choice because a lot of the transactional attorneys I've met basically wind up after a couple years at a large law firm wishing they were working the deal from the other side - and when they go in-house, they just try to get out of counsel/compliance and into strategy/management whatever way possible. This would all be accomplished by heading to a top b-school directly.

now I will acknowledge that if your credentials sucked (no top b-school options) and you didn't have a good job out of college, high LSAT -> T14 -> top PE firm -> in-house at a bank/fund becomes more appealing.. but in your position I don't see the value

[withoutapaddle]

The problem with the MBA is that I didn't go to a name brand undergraduate university. Which I think will hurt my chances at a T-10, because we know how much schools love prestige, and I doubt a T-10 wants to put their school brand above a state school on a resume.

[jbagelboy]

The problem with the MBA is that I didn't go to a name brand undergraduate university. Which I think will hurt my chances at a T-10, because we know how much schools love prestige, and I doubt a T-10 wants to put their school brand above a state school on a resume.

I think you might not be giving yourself or your school enough credit. You did well enough in school (or had good enough connections) to get a position as an analyst.

Moreover, the fact that you have rationalizations to avoid applying to business school means you've put a decent amount of thought into applying to business school meaning you thought about attending business and not law school meaning you thought about not pursuing law at all suggesting you don't really want to do law in the first place, QED law school is a bad idea because it's not what you really want.

[MistakenGenius]

Post removed.

[jbagelboy]

Then again, I could be totally wrong about you. This is only the internet

[$$$$$$]

You want to go to a hedge fund to do private equity transactions? That doesn't exist. Also, are you an actual trader or do you just do execution at merrill lynch's wealth management platform? This is important because if you are an actual trader and want to be on the investment side of a HF, then the last thing you should do is go to graduate school. Keep trading and keep getting better and network your ass off. However, if you are an execution trader, then I understand wanting to leave.

MBA for a hedge fund? Sure, if you get into HBS you have a shot (albeit a very very small one). Only way to get into the buy side (non - legal) at a HF is to be a star trader on a BB desk, go the IB route and get into a long/short equity fund, or be very lucky in other fields (law, consulting, accounting, etc). Also, the dude said he wants to do legal work, otherwise why the hell would you leave trading for two years to go back into ... trading? No one I know that made it to a hedge fund has an MBA, all started at BB banks on a desk and either stayed to make VP, burned out, or moved to a hedge fund after they were poached (and those that were poached were studs and absolute geniuses).

If you want legal side of a hedge fund, then sure, go to a top law firm that does that type of work, either investment management reg., fund formation, credit, M&A, etc. There are lots of ways into the buy-side from top law firms, however it is still hard to accomplish because funds are so small.

Another route is to do top law firm for a few years, join a consulting practice that specializes in asset management and get to know your clients and make the move, I know people that have done that as well.

[sparty99]

The problem with the MBA is that I didn't go to a name brand undergraduate university. Which I think will hurt my chances at a T-10, because we know how much schools love prestige, and I doubt a T-10 wants to put their school brand above a state school on a resume.

You would be a fool to get a MBA. And let me tell you, transactional - investment management legal work is boring. I've seen people from Northern Illinois get accepted into Northwestern and the University of Chicago Booth. If you are an analyst then you need to stay on the finance business side. You will easily get an I-banking job if you go to a T25 B-School. You will easily get consulting interviews. If you play your cards right, you could be working for a private equity fund after MBA school. Hell, I'm sure if you posted your resume on monster.com right now you would get hit up by recruiters.