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How top hedge funds recruit talent
What the most selective funds look for and how top candidates stand out
Investor Briefcase
May 29, 2025
Hedge funds are among the most selective firms in finance. They do not run large analyst classes or hire broadly from campus career fairs. Instead, they recruit only a small number of high-performing candidates who show the potential to generate results from day one.
The bar is high and the process is selective. If you are trying to break in, it helps to understand how these firms recruit.
This week, we break down how hedge funds source talent, what skills stand out, and how compensation stacks up:
🎯 How top hedge funds recruit
💼 Available internship offers
📈 Compensation and Career Growth
— Investor Briefcase Team
The recruiting process at hedge funds is intense because the stakes are high. A hedge fund analyst can be responsible for influencing research & decisions around million-dollar trades early in their career.
These firms do not just want strong resumes. They want to see independent thinking, genuine market interest, and the ability to filter noise from signal.
Most junior analysts typically come from one of three paths:
• Students with quantitative or technical degrees from top schools like MIT, Princeton, or Oxford who show strong interest in trading
• Former investment banking analysts from top-performing firms in specific industries
• Internal training programs like Citadel Discovery, Point72 Academy, or DE Shaw’s research track
While some hires do come from banking or equity research, this route is less common than many expect. Funds are no longer focused solely on deal experience.
Instead, quantitative and technical talent is in highest demand. At funds like Citadel, D.E. Shaw, and Two Sigma, most new hires are recruited directly from undergrad or PhD programs in technical fields.
UBS
💼 Position: Summer Intern - 2026
📍 Location: San Francisco, USA
🏛️ Industry: Wealth Management
📅 Deadline: January 2026
Click here to apply
Barclays
💼 Position: Off-Cycle Investment Banking Analyst
📍 Location: Paris, France
🏛️ Industry: Investment Banking
📅 Deadline: November 2025
Click here to apply
Morgan Stanley
💼 Position: Wealth Management Intern
📍 Location: New York, USA
🏛️ Industry: Wealth Management
📅 Deadline: January 2026
Hedge fund compensation structures are designed to reward performance. While base salaries provide a stable income, bonuses tied to individual and firm performance can substantially increase total compensation.
Here is how total compensation typically breaks down at the top firms:
Position | Base Salary | Bonus Potential | Total Comp. |
|---|---|---|---|
Junior Analyst | $120K–$150K | 50%–100% of base | $190K–$300K |
Analyst | $150K–$200K | 100%–150% of base | $300K–$500K |
Senior Analyst | $200K–$300K | 150%–200% of base | $500K–$900K |
Portfolio Manager | $300K–$500K | 20%-30% of their P&L | $1M–$20M+ |
“If you are going to play the game, play to win. At this level, preparation and precision are what set you apart.”
Progression is based on results, not seniority. Analysts who contribute strong ideas and help drive returns move up quickly. Those who show they can consistently add value often get their own capital to manage. But those who fall short are often rotated out in one or two years.
Firms like Citadel, Millennium, Balyasny, and Point72 have clear paths from analyst to portfolio manager. They look for independent thinking, strong risk judgment, and the ability to work within a team. Analysts are paired with senior PMs and evaluated based on both their contribution to returns and how well they manage risk.
The performance expectations are high, but the rewards match them.
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