Hedge Fund Internships

I wanted to apply for internships at Hedge funds, but I couldn't find many HFs which offer internships to undergraduates. Could anyone list a few Hedge Funds which have summer internship programmes (Most hedge funds don't-the only one I could find was Citadel). I'd also be interested to hear peoples experiences when applying for or doing internships at Hedge funds.

Thanks.

Most quant HFs and prop houses will have one. You should know the ones I'm talking about - literally a google away - if you're serious.

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Presumably, you mean proprietary funds like Jane Street, Two Sigma etc- I know they have official internship programmes. In fairness, I don't know much about them, as in what level of preparation they require- most of these funds also tend to recruit straight out of Goldman, JP and other BBs. I also don't know whether it would be a great career move to apply to these funds as opposed to S&T. Perhaps you could fill me in.

I'm focusing solely on HF internships as I see it as a categorically better option (compared to IB), for someone who is confident they want to be on the buy side.

Thank you for response btw

what are the requirements for it? What degree/uni should you go? is it more competitive than investment banking division?

M8.. IBD and HFs are completely different, albeit depending on what HF strategy you're looking at, IBD could be a prerequisite experience wise.

As for quant hedge funds/prop shops:
Maths, CompSci, Engineering, Physics etc, hard STEM courses at undergrad/masters or at PhD level for quant research roles.

Unis are the top tier for the above subjects

Everything else, same as IBD because you'll have to recruit into IBD/S&T/ER then look for transfer opps.

Also, pls stop asking this. This really isn't how you should be choosing what subject to study at uni or where to study.

Everything else, same as IBD because you'll have to recruit into IBD/S&T/ER then look for transfer opps.

What do you mean?

thanks for the reply
Okay i guess i should research it a bit more i think i got it all a little confused

Right ok thanks

haha lol im in yr 11 so im just wanna make sure i choose appropriate a levels that suit my interests as well as being useful in the future, i havent really decided on a degree but thanks mate

Did you not just ask the exact same question like a couple days ago? There's your answer.

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I mean like what do you mean by transfer opps when internships are available?

You should choose a-levels that you're interested in and not solely for a set of careers that you might not even pursue.

My advice is: do what you want but stick to facilitating subjects.

All the careers stuff is easy enough to find via Google, I wouldn't sweat it at the moment.

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Google 'IBD exit opps'

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Jane Street, yes, is a prop house. Two Sigma is a quant hedge fund.

They obviously will require immense talent, much more than is expected of anyone looking to apply to standard S&T gigs at BBs. If you're not reaaaally good at probability, mental maths and statistical analysis; you'll find the pricess very tough.

Quant hedge funds and prop shops recruit out of undergrad/masters/phd programmes - very rarely will they recruit from BBs unless it's for an experienced position

Again, focusing on 'HFs' is pointless. There are a LOT of hedge funds employing all sorts of strategies, most of which do NOT recruit out of undergrad and only recruit out of S&T desks (relating to the strategy of the fund), other hedge funds and asset managers - undergrad hires in non-quant hedge funds are rare. So a) you need to focus in on what strategy of fund you want to aim for (HFs are not all the same), and b) you'll have to network your ass off to even get a whiff if you're not aiming for the funds with specific undergad schemes (i.e. quant hedge funds).

I suggest you do a bit more research into this because you're not really coming across as aware of how this all plays out or even what you want.

As I said, I don't know much about these funds (this is part of my research, I guess). I didn't think that most people would realistically give up a Goldman Internship for example, to go to on of these funds at entry level but instead start of at a BB and transfer later. However from what you say, it seems like it's an equally sought-after route and this is rather useful information for me as I study maths at Imperial and really enjoy it.

I thought I stated what I want in the title - Hedge Fund Internships. I realise most don't recruit from undergrad and hence why I asked for suggestions of a few which do.

I know what you're saying but 'hedge fund internships' is vague.

If you had said, 'are there any global macro funds that recruit interns?' or 'are there any quant/systemic hedge funds that recruit interns?' or 'are there any event driven funds that recruit interns?'

Then you'd have a proper thread.

Just to reiterate, yes, some people do choose a quant hedge fund instead of GS (lol, it would be an obvious choice) but the number of total hedge funds (including all strategies) that recruit undergrads is tiny and mostly restricted to a certain type of hedge fund (quant) or (quant) prop shop

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What makes it such an obvious choice? What is the job stability like relative to IB? (I know all these sectors are ruthlessly performance based) And in terms of future career prospects how does Quant HF compare to having Goldman Sachs on your CV.

BTW, I'm not disagreeing with you, I'm just curious- most of my misconception probably comes from knowing a few friends (who are far better mathematicians than me) who didn't get many offers at BBs but went to Jane street