This is what top tier Hedge Funds & Investment Banks are Looking For!

What are Top Tier Investment Banks and Asset Managers Looking For?  By Edward Storm. (Weekly Notes)

Over the course of my recruiting career I've gotten this question countless times, and my response has varied over the years but today is concise.  Top tier firms on the buyside and sellside want a resume to show clearly that a candidate has this more than anything....

Relevant Revenue Generating Experience

Whether the role is within Equity Research Sales with a well-known independent or as a junior Fixed-income Analyst with a top performing hedge fund manager, what's important is that a candidate has the relevant experience necessary to excel in the role, and in the long term, generate exceptional revenue for their new employer.  Last week an individual reached out to me about a search I'm working on for a hedge fund.  She had a PhD in Biology from an ivy league school as well as an MBA.  In addition, she had almost 10 years of experience working within healthcare research.  In summary, she's very smart and probably an asset to most healthcare research teams, probably any research team period.  She was not especially qualified for a job within software equity research however.  Could she do the job?  Yes.  Could she aquire a deep knowledge of the technology sector?  Yes.  Would she excel in the role in the long term?  Most likely, yes.  So, what is the problem?

The problem here is that this individual is leaving a decade of work experience on the table as well as another decade of educational experience behind for the position.  Most hiring managers are looking to utilize an individual's expert level experience for a competitive advantage, not compromise and fit a square peg into a round hole.  A big lesson here is for job seekers to show patience during their job search and concentrate on pursuing opportunities that naturally accentuate their skills and talents.

Many buyside firms are more selective than ever given dismal hedge fund performance over the past couple years.  Sellside firms have been even more selective due to MiFID and growing competition within investment banking.  Job seekers need to always be aware of this.  If you are looking to make a big career change, try to do all you can to take advantage of the relevant tools in your tool box!

By Edward Storm, Careerhedge Blog