Hedge Fund Jobs: 10 Personality Traits You Need to Succeed

Hedge Fund Jobs: 10 Personality Traits You Need to Succeed

If your goal is to make a top salary in the world of finance, a successful career in hedge funds might be in your sites. The pay-offs can be big, even for entry-level financial analyst jobs with a hedge fund. According to the 2014 Glocap Hedge Fund Compensation report released in late October, entry-level analysts at mid-performing hedge funds were looking at annual compensation somewhere in the neighborhood of $330,000 in 2013.1

Top hedge fund managers are “notorious” for taking home millions of dollars. According to Glocap, average salaries for portfolio managers were coming in at $2.2 million.1 Sign me up you say? Well, even getting entry-level finance jobs with a hedge fund isn’t easy, and becoming one of the top hedge fund managers is even more difficult.

You need to master the art of consistently managing hedge funds well, which means you know how to reduce risks (hedging) while gaining a sizeable return for your investors. No easy task.

Tenacity and Experience Are Required

If you want to get your foot in the door, you will need to immerse yourself in the hedge fund world by doing your research about the industry, the key players and the funds you are interested in pursuing (including the sectors they specialize in and strategies they use).

Two to three years of prior experience through internships, work at other types of finance firms or hedge fund service companies (experience with prime brokerage, risk management or hedge fund administration) can help you make contacts and get the experience hedge fund recruiters are looking for in an entry-level candidate.2

It also takes a special breed to succeed in the hedge fund game. Think you have what it takes to make it? The following personality traits are common among people who succeed at hedge fund careers (as well as many other finance careers).2,3

1. Competitive. Do you have an ongoing desire to outpace and outperform your competition?

2. Can handle high stress levels. Do you thrive under pressure instead of curling up in a ball.

3. Self-disciplined. Can you get the job done without someone looking over your shoulder?

4. Analytical, number cruncher. Can you review enormous volumes of data and make sense of it easily?

5. Quick on your feet. Are you able to make fast and accurate decisions without getting flustered?

6. People person. Can you hack the grind of networking so you can make connections and get ahead?

7. Focused and flexible. Does switching gears multiples times a minute, hour, day … not throw you for a loop?

8. Concise. Can you effectively make your point in a few short sentences?

9. Passionate about work. Do you go all-in when you get a job and seek to learn everything you possibly can about it?

10. Goal oriented. Do deadlines and the opportunity to earn a big paycheck keep you at the front of the pack?

As with most finance careers, getting ahead in the hedge fund industry takes time and a dedication to growing your professional network. Use top financial sites such as Doostang’s to search for hedge fund jobs in your city of choice, apply online then reach out to your contacts to see who has connections at the funds where you have applied. This can help improve your odds of getting an interview.

Resources:

1. Holliday, K. “Hedge Funds: This industry has an entry level salary of $335,000.” CNBC website; Nov. 1, 2013. Available at http://www.cnbc.com/id/101161993. Accessed Nov. 25, 2013.

2. Wilson, R. “10 Steps to a Career in Hedge Funds.” Investopedia website; July 8, 2013. Available at http://www.investopedia.com/articles/financialcareers/08/hedge-fund-career.asp. Accessed Nov. 25, 2013.

3. Adams, S. “How to Get a Job at a Hedge Fund.” Forbes website; July 23, 2013. Available at http://www.forbes.com/sites/susanadams/2013/07/23/how-to-get-a-job-at-a-hedge-fund-3/. Accessed Nov. 25, 2013.

8 Social Media Blunders that Sink a Job Search

 Great Jobs on Doostang

Let’s say you are looking for a new job or a promotion at your current job.  If your prospective new boss pulls up your Facebook page, will he/she see photos of you drinking scotch from the bottle and a caption that says “Drink till you die”?  Or will your current employer see a post that reads: “I hate my job, the boss is a jerk!” on your Facebook page?

These days, social media can be a help or a hindrance to your job search. Social media sites are not hidden.

Anything you post is likely to be seen.  Most hiring managers search candidates’ online presence and that includes social networking. You will want to do the same.

A basic search of your name is a good place to start. What does the search reveal?  How deep are the results?

Do you find one or two pages, or one or two lines?  What does the search reveal about you? Remember, just because your Facebook posts don’t show up in the initial search doesn’t mean information posted there is inaccessible.  In fact, for some companies, that may be where the search begins. Be smart about your online presence and you will outsmart the competition.

1.  Wide Open Profiles.

This is the kind of mistake that makes the others mistakes relevant. Keeping a closed or mostly closed profile on your non-career social media sites while job searching is a good idea.

2.  Friend Requesting Your Interviewer.

Don’t send a friend request to your interviewer. Maybe your the type of person who friend requests everyone you meet. Maybe you think it will help your chances of getting the job. Unfortunately, friend requesting your interviewer is more likely to work against you, since very few of us will look more professional on facebook than in the interview.

3.  Inappropriate Language.

Remember your old English teacher’s admonition that you must pay attention to the written word?  That remains true for writing on the web.  Writing how you talk is not the best advice in the midst of your job search.  Think of any written communication as a tiny billboard communicating your assets to hiring managers investigating your online presence.  Inappropriate language definitely includes profanity, so clean it up to strengthen your job search.

4.  Non-PC Statements.

Your social media pages may feel protected or hidden from the general public, but as with anything on the Internet, once it is there, you lose all control of the information.  “Think twice and type once” might be a good reminder the next time you are posting.  Any Internet-based communication is open to the world and may be misconstrued.  Think about the last time you tried to tell a joke or explain a sensitive situation via email.  The recipient of cyber-messages may not interpret what was meant as a short-hand explanation in the same way you intended.

5.  Negative Comments about your Current Employer.

The supposed sanctity of social media sites can lead many people to develop a false sense of security. As mentioned, social media sites are not completely private.  If you are ranting about your current place of employment, the consequences of doing so “in print” are likely to be much more negative for you than the employer.  Hiring managers typically avoid anyone whose posts suggest a difficult disposition, rather than the appearance of a team player.

6.  Unflattering Photos.

Everyone knows drunken holiday party photos will sabotage your job search, but you should be cautious about the content of all photos you post.  Public displays of affection, nudity, or any documentation of “unusual” behavior are likely to halt successful job leads.  Check with your “friends” on Facebook as well to make sure there aren’t photos on their pages that may cast you in an unflattering light.

7.  Off-color humor.

The Internet is not the local bar or pub.  You’re not just making jokes with people who already know you well and will forgive slips of the tongue.  If negative comments are all that the hiring manager knows of you, you are likely to be seen negatively.

8.  Conflicts between your profile and resume.

Make sure there is no major differences between your career oriented social networking profiles, and your resume. This can be as simple as updating a former employer’s company name to its new name if it was changed. Check the details thoroughly on both, making sure the dates match, the company names match, and the responsibilities and accomplishments match

 

Don’t jeopardize your job search by ignoring potential negative impressions from your online presence.  Social media sites are routinely accessed as part of the screening process so get rid of any questionable photos or posts. Beware of social media blunders by taking a smart look at your online presence as if through the eyes of the hiring manager, and you can remove barriers to your next position.

 

Corporate Development – M&A Associate – Los Angeles, CA

Investment Banking Intern – San Francisco, CA

Private Equity Analyst Intern – New York, NY

Investment Operations Associate – Los Angeles, CA

Pre-MBA Investment Banking Analyst – Boston, MA

Analyst – Washington, DC

Associate Equity Research – New York, NY

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Doostang Success — My Dream Job in Venture Capital

Himani

UC Berkeley, 2010
Investment Analyst – Hercules Technology Growth Capital

“I ended up at Doostang after trying multiple job seeking platforms. The experience here was so much more interactive, unlike other places that felt like a black hole – sucking my applications with no response.

In contrast, at Doostang I was impressed by features like status notifications, which showed me when my resume was downloaded and which employer viewed it.

There is a great amount of credibility in Doostang, so I could be sure that my unique skill sets and qualifications would reach the right set of employers.

I’ve been ‘job watching’ for almost 2 years, and I’ve never seen such a relevant aggregation of specific ‘field-positions’ until Doostang.

Their investment management space in finance has the most updated and selective postings. And that’s how I landed my job at Hercules Technology Growth Capital. Doostang has been an ideal platform for me to end up at my dream job in venture capital.

Kudos to the team, and sincere thanks.”


Did you get a job through Doostang? Share your Doostang success story and get a $500 Signing Bonus from Doostang!

Here’s a small sample of the great jobs you’ll find on Doostang:

Finance Intern – Leading Capital Placement Firm, New York, NY

Sr. Marketing Analyst – Leading Ecommerce Retailer, Boston, MA

Start-Up Hedge Fund Operations Associate – Start-Up Hedge Fund, Manhattan, NY

Chief Executive Officer – Rising Nonprofit Educator, Charleston, SC

Entry Level Treasury Analyst – Top-Tier Financial Company, San Diego, CA

Search jobs on Doostang

Perfect the Punch in Your Cover Letter

By Alesia Benedict, CPRW, JCTC – GetInterviews.com

Hedge Fund Associate, New York, NY
Product Manager, Washington, DC
Associate, Greenwich, CT
Futures/Forex Broker, Chicago, IL
Database Intern, San Francisco, CA

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Your resume and cover letter should combine to deliver an effective “one-two punch” that grabs the positive attention needed to land an interview. Though many think the cover letter has become obsolete because of online resume posting, in reality the cover letter is equally important in electronic and paper applications. Typical business standards of communication apply in any type of career search contact. Being too informal and using emoticons or e-mail acronyms (such as BTW or LOL) will likely sabotage your well-planned efforts.

Personalize the Letter

Research the company and the HR department to determine the person to whom you should address the letter. You may even call the company to inquire as to the name of the appropriate person who is screening for the position of interest. If unable to find the name of a specific person in any of your research, you can always default to the title of the individual in charge of the position search, such as “Office Manager” or “Director of Human Resources.”

Although personalizing the salutation is a good start, don’t stop there if you want to stand out from the crowd. Use the results of your research to determine the values, mission, and new initiatives for the company. Aligning your strengths and personal work history with these key areas will help the hiring manager see you as a viable team member. Recruiting key talent makes the hiring manager look good, so help them by making it easy to recognize what a great fit you are for the opening.

Highlight Your Accomplishments

Every hiring manager differs in his or her approach to screening resumes and cover letters. Some don’t even bother with the cover letter, but that doesn’t mean you should skimp on your attention to detail. Many other hiring managers use the cover letter to screen out unlikely candidates.

Make your cover letter doubly effective by including several accomplishments that align with key aspects of the open position as well as the overall corporate mission. Many people don’t include specific accomplishments in the cover letter to avoid being repetitive. But key concepts often bear repeating! By emphasizing the same accomplishments in the cover letter and the resume, you help the hiring manager remember your strong points. Beyond that, if the hiring manager only reads the resume or the cover letter, you have made certain that your key skills are highlighted and will be noticed at least once, if not twice!

Electronic Postings

Spend time perfecting your subject line if submitting your resume via email. Including your name in the subject line facilitates name recognition. To present a business-like impression, stick to the basics in your subject line, such as listing the position and a descriptor (e.g., “Robert Smith Application” or “Jane Doe Resume”). The same cover letter that you submit with a paper application becomes the text of your email accompanying the electronic resume.

The Basics

Of course, you need to pay attention to the basics of business grammar, spelling, and format when writing the cover letter. You don’t want to set yourself apart by making the cover letter too “flashy.” Colored paper, personal photos, and overly distinctive fonts have no place in a strong cover letter. Review the letter to make sure it aligns as closely as possible with the details included in the job announcement. Give the entire package a final close inspection before sending it out to ensure it is not only accurate, but also complete in terms of what the employer has requested (e.g., transcript, references, etc.). Finally, don’t forget your original signature on the paper version of your cover letter. Even such a small oversight may close the door on your chances for an interview.

The cover letter can be a critical component in your job search. It allows you the opportunity to “connect the dots” for the hiring manager between your skills and their needs. Customizing the cover letter demonstrates your due diligence, initiative, and interest in the company. Create an effective “one-two punch” and get the most out of your cover letter to highlight your skills and present yourself as a top-notch candidate.

About the Author: Alesia Benedict, Certified Professional Resume Writer (CPRW) and Job and Career Transition Coach (JCTC) is the President of GetInterviews.com, the country’s leading resume writing firm. They provide professionals with customized, branded resumes and career marketing documents. Her and her firm’s credentials include being cited by JIST Publications as one of the “best resume writers in North America,” quoted as a career expert in The Wall Street Journal, and published in a whopping 25+ career books. Established in 1994, the firm has aided more than 100,000 job seekers to date. All resume writers are certified writers. GetInterviews.com offers a free resume critique and their services come with a wonderful guarantee — interviews in 30 days or they’ll rewrite for free!

Doostang Success — A Move into the High-Tech World

David

Northwestern University, 2008
Associate – Cisco

“After 3 years in investment banking, I was looking for opportunities to transition into technology corporate development. I was based out of the Midwest, so I had very few direct contacts to technology firms in Silicon Valley. I had tried multiple career sites, with very little response. I mostly received e-mails from recruiters trying to push jobs that I was not interested in. My roommate at the time mentioned that he had used Doostang to find his current job, so I decided to give it a try.

Doostang had the largest selection of technology corporate development jobs out of all the career sites I searched.

It was easy to apply to multiple jobs and I was always notified when a firm had downloaded my resume. I quickly received calls for interviews and was flying out to the west coast.

I just received a call from my top choice offering me a job in the heart of Silicon Valley doing strategic acquisitions and venture investments.

This really is my dream job and I am very happy with the way Doostang facilitated my move into the high-tech world.”


Did you get a job through Doostang? Share your Doostang success story and get a $500 Signing Bonus from Doostang!

Here’s a small sample of the great jobs you’ll find on Doostang:

Investment Analyst – Top NYC-Based Hedge Fund, New York, NY

Corporate Strategy Manager – Global Technology Giant, SF Bay Area, CA

Research Analyst – Premier Private Wealth Management Firm, Philadelphia, PA

Digital Media Planner – Interactive Digital Marketing Agency, Chicago, IL

Private Equity Associate – Preeminent Asset Management Firm, New York, NY

Search jobs on Doostang

Doostang New Jobs This Week: Apr 11 – 17


Doostang has thousands of highly sought after positions at companies like Google, Goldman Sachs, Bain Capital, Kohlberg Kravis & Roberts, Summit Partners, Time Warner, Facebook, and more. Looking to get ahead in your job search? Be the first to apply to these exceptional NEW jobs just posted on Doostang.


Credit Analyst, San Francisco, CA – Multi-Strategy Credit-Focused Hedge Fund seeks a Pre-MBA Credit Analyst.


Marketing Writer, Scottsdale, AZ – Boutique Personal Financial Planning & Investment Management Firm seeks a Marketing Writer.


Investment Banking Associate, Palm Beach, FL – Sector-Leading Boutique Investment Bank seeks an Investment Banking Associate.


Business Development Analyst, Los Angeles, CA – World’s Largest Commercial Real Estate Services Firm seeks Business Development Analyst.


Associate, Washington, DC – Leading Private Equity Investment Firm seeks an Associate.


Consultant – Strategy Consulting, Boston, MA – Leading Strategy & Economics Consulting Firm seeks Strategy Consultant.


Private Equity Analyst, New York, NY – Private Family Office seeks Private Equity Analyst.

Doostang Success — Job Offer after Just 15 Days

Anton

Villanova University, 2010
Trader – Capital Asset Exchange and Trading

“After being disappointed with the employers on my university website, a friend recommended I try out Doostang.  I was very open minded about my job search and submitted my resume to as many companies as I could.

Only halfway into my one-month membership I got invited by a firm to come to their office in San Francisco all the way from Philadelphia.  After a stressful and trying interview they offered me a job on the spot.

I had spent over 4 months interviewing with companies on my campus and it only took 15 days on Doostang.  What can I say, thank you Doostang!”


Did you get a job through Doostang? Share your Doostang success story and get a $500 Signing Bonus from Doostang!

Here’s a small sample of the great jobs you’ll find on Doostang:

Jr. Analyst – Prominent European Event-Driven Equity Hedge Fund, New York, NY

Events & Media Associate – Innovative Leader in Pain Relief Industry, Chicago, IL

Private Equity Associate – Preferred Capital Partner, Dallas, TX

Consultant – Integrated Consulting & Research Firm, San Francisco, CA

Investment Banking Analyst (FIG, M&A) – Premier Boutique Investment Bank, New York, NY

Search jobs on Doostang

Doostang New Jobs This Week: Jan 31 – Feb 6


Doostang has thousands of highly sought after positions at companies like Google, Goldman Sachs, Bain Capital, Kohlberg Kravis & Roberts, Summit Partners, Time Warner, Facebook, and more. Looking to get ahead in your job search? Be the first to apply to these exceptional NEW jobs just posted on Doostang.


Investment Banking Analyst, New York, NY – Private Investment Banking Firm seeks Investment Banking Analyst.


Associate Consultant, Washington, DC – International Policy & Regulatory Affairs Consulting Firm seeks Associate Consultant.


Pre-MBA Associate, San Francisco, CA – Private Investment Management Firm seeks an Associate.


Analyst, Cambridge, MA – Leading Global Strategy & Economics Consulting Firm seeks an Analyst.


Fixed Income Analyst/Trading Assistant, Orlando, FL – Fixed Income Investment Management & Hedge Fund seeks Fixed Income Analyst/Trading Assistant.


Corporate Development Analyst, Los Angeles, CA – Innovative Consumer Electronics Company seeks Corporate Development Analyst.


Alternative Investments Analyst, New York, NY – Leading Portfolio Manager seeks Alternative Investments Analyst.

Doostang New Jobs This Week: Jan 17 – 23


Doostang has thousands of highly sought after positions at companies like Google, Goldman Sachs, Bain Capital, Kohlberg Kravis & Roberts, Summit Partners, Time Warner, Facebook, and more. Looking to get ahead in your job search? Be the first to apply to these exceptional NEW jobs just posted on Doostang.


Jr. Equity Analyst, New York, NY – Leading Investment Organization seeks Jr. Equity Analyst.


Vice President of Sales & Marketing , Philadelphia, PA – Leading Producer of Modular Buildings seeks Vice President of Sales & Marketing.


Hedge Fund Marketing Associate, Los Angeles, CA – Long/Short Equity Hedge Fund seeks Fund Marketing Associate.


Service Delivery Manager, Boston, MA – Market Leader in Provision of Consumer-Level Technology Services to the pharmaceutical market seeks Service Delivery Manager.


Equity Research Associate, San Francisco, CA – Boutique Investment Bank & Brokerage Firm seeks Equity Research Associate.


Jr. Associate, New York, NY – Successful Strategic Public Relations & Public Affairs Firm seeks Jr. Associate.


Graduate Trainee Stockbroker, London, UK – Independent Stockbroker Company seeks Graduate Trainee Stockbroker.

Doostang New Jobs This Week: Jan 10 – 16


Doostang has thousands of highly sought after positions at companies like Google, Goldman Sachs, Bain Capital, Kohlberg Kravis & Roberts, Summit Partners, Time Warner, Facebook, and more. Looking to get ahead in your job search? Be the first to apply to these exceptional NEW jobs just posted on Doostang.


Equity Research Associate, New York, NY – Full-Service Investment Banking Firm seeks Equity Research Associate.


Legal Assistant/Paralegal, Los Angeles, CA – Premier Patent Law Firm seeks Paralegal.


Buyside Equity Research Analyst, Dallas, TX – Prominent Long/Short Directional Hedge Fund seeks Buyside Equity Research Analyst.


Commercial Real Estate Associate, New York, NY – Top Tier Investment Real Estate Brokerage Firm seeks  Commercial Real Estate Associate.


Equity Analyst, Chicago, IL – Rapidly-Growing Investment Advisory Firm seeks Equity Analyst.


Director of Business Development, London, UK – Media & Financial Information Company seeks Director of Business Development.


Portfolio Strategy Associate, New York, NY – Private Investment Management Firm seeks Portfolio Strategy Associate.