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This is one of the best posts I've read on HN. There is one negative to hedge funds: they tend to have long hours. But the stereotype is worse than fact; it's
by michaelochurch 13y ago
This is one of the best posts I've read on HN.
There is one negative to hedge funds: they tend to have long hours. But the stereotype is worse than fact; it's generally 9-to-7 (with some fucked-up sweatshops out there that go longer) and the work is interesting enough (usually) that you don't mind it.
Compared to the (accurately stated) ills of the 4 paths you listed, that negative is pretty mild. And you certainly can find hedge funds with reasonable hours: you're just not as likely to become the $5m/year trader working 9-to-6/7. (But you can go into VC and work 9-to-5 making 500k+.)
I'll probably go back to finance in my mid-30s, because it beats being VP/Eng at some dodgy startup not because I want to manage but because it's the only way to justify age-appropriate comp. The problem I run into now is that, after some startup dalliances (and a 6-monther at Google under a psychotic manager) I ended up with a "job hopper" resume. That doesn't hurt you so much in tech, but hedge funds are terrified of IP loss and auto-reject people with "too many" jobs.
- thecage411 13y agoHow does one, after a couple of startups, move to a hedge fund? What skills are they looking for? Any good reading out there?
- michaelochurch 13y agoI don't think it's hard to get into a good hedge fund, if you're in the right location (New York, possibly Boston or Chicago). If you keep building your tech skills, you can get into a good hedge fund job after a few years. Just treat it the same as interviewing for a good tech job. Hedge funds more selective but also more meritocratic and predictable than Valley firms. The problem in the Valley is that, although it has as many smart people, pound for pound, as Wall Street... the Valley has more stupid people (and fewer smart people) in decision-making roles. Startups aren't inherently damaging. The problem is that they're volatile and experience constant reorgs. Your job might be totally different in 6 months. Or it might not exist. This leads to a "job hopping" pattern that, from a more conservative finance perspective, makes you look bad. Banks and hedge funds are more stable so it's rare that someone is that unlucky as to have, say, 6 jobs in 5 years through no fault of their own. But it happens all the time in VC-funded startups.
- nostrademons 13y agoI had a colleague in a past job that went from aeronautical engineering to a hedge fund. His career trajectory was MIT masters in aeronautical engineering -> ~5 years in aerospace -> 2 years at a financial software startup (where I worked) that was somewhat desperate for people -> hedge fund. Basically he could demonstrate a solid grasp of math from his past career, managed to find an entry-level position at a financial software startup (taking a pay cut), parlayed that into some knowledge of finance and industry contacts, and then jumped ship once the opportunity arose.