<p>So this somewhat strange. </p>
<p>I went in for an interview about a financial internship for the summer in beginning of June. It was at very prestigious HF with 2 Billion AUM. It was a 30 minute long interview and my interviewer was a little concerned about my school record and they also never ever had an intern before. And I didn't think much of it since a few days later I accepted a SA position. </p>
<p>Since people tell you to network and such, I emailed him about some of the stuff I am doing this summer; I did not mention that I had a SA position but I was just telling him some of the stuff I was reading/studying into this summer and my plans for next semester. </p>
<p>Then he emailed back and told me that they were actually prepared to make me an offer in June but he just forget to tell me basically. It was my fault since I should have checked up with him. And he also mentioned that I should give him a call since they would still consider letting me work on "projects" for the rest of the summer there. </p>
<p>So I am not sure what to say, obviously I can't just quit the position I am in right now. But I also don't want to burn any bridges cause they actually have a branch office literally next to my dorm and it would be like my dream to work there in the fall part-time. </p>
<p>So how do I tell him delicately that I can not work this summer but I would love a chance to do it in the fall? One thing about this is that my resume is solid except for that I have a weak GPA (3.4) and he brought it up last time and we had a short discussion about it.</p>
<p>Explain that you already have a position. They'll understand. And bring up your GPA!</p>
<p>haha yeah, taking too many classes second semester whiling drinking too much was a bad idea, I had a 4.0 first semester then 2nd semester, I just totally trashed my finals.</p>
<p>hedge fund internships are very valuable if you actually learn the analysis.</p>
<p>I decided to work at the HF as opposed to my corporate internship offer so I could work for them through the school year. The principles at your hedge fund probably have wall street connections up the wazoo--so when you graduate you might be in almost as good a position as if you took the SA job. At my HF, we deal mainly with private investments in public equities for small cap companies. I'm not learning much on the analysis side, my training was very short-lived. I'm calling CEOs/CFOs on a daily basis. Many times it's a cold call...but since we usually deal with small caps- it's kind of like i'm walking into Ethopia and offering filet mignons. I usually have to be able to answer basic questions like, "what type of financial structuring do you usually do? Are you a solely a pipe fund? what was the conversion price on that warrant? etc." So I think the terminology and social skills are equally as important. The actual analysis is simple multiplication that can be done on excel. But I suppose it depends on what type of HF you are.</p>
<p>What matters more is that they will give you work possible part time during the school year so you can build up a major connection there. Its a decent sized fund to boot. I would explain your situation and ask him if you can work part time during the year. Thats the best way to go about it.</p>