<p>Someone mentioned their recruiting at Wharton. I wonder if there's recruitment for Stern undergrads.</p>
<p>bump.. i second this question</p>
<p>plus.. what about mgmt consulting firms? -_-a</p>
<p>of course not...why would they, its not like sterns good at finance or anything</p>
<p>bump .</p>
<p>your chances of landing a job at a hedge fund or PE group (a good one) are incredibly slim coming straight out of ugrad with zero work experience. the usual route is to do a 2-3 analyst stint at a BB, and then transfer over to a hedge fund or PE group. the only exception im aware of is that blackstone hires ugrads straight out of harvard and wharton. and im pretty sure the big consulting firms (bain, mckinsey, BCG etc) all recruit on campus.</p>
<p>I just graduated from NYU Stern this past May and I would have to say that landing a job at a hedge fund is possible and some of the most well known hedge funds such as D.E. Shaw and Citadel do actively recruit on campus, though those particular hedge funds tend to take only the top students. It is worth noting, however, that a number of smaller or less well known hedge funds recruit as well and that since the school is located in NYC it is also possible to work at a hedge fund throughout the year/intern with one during the summer, in fact, I referred my former roomate to a somewhat well known hedge fund for a summer internship that another friend of mine worked at during her junior and senior year. </p>
<p>As for private equity, it is extremely difficult to land a job at a private equity shop as an undergrad no matter what school you go to. I took a job with a CLO fund and we participate in a number of the deals syndicated for LBOs by PE shops such as Carlyle, Blackstone, etc. It has become quite apparent to me that Private Equity generally requires a great deal of business acumen that can only be gained in part through experience. I have heard of a stern student landing a PE job with Deutsche Bank (though that was cited as a rarity) and a friend of mine that attends NYU (he's a CAS student) did intern at Carlyle, however, I did not ask what his position was (it could very well be an internship in the back office). I have met wharton kids that do work for blackstone, but from my discussion with them it seems that they generally hire more so for M&A advisory or other divisions. Granted I have only met 2 or 3 and am speaking solely based on what they told me, so I could be over generalizing.</p>
<p>As for consulting I do not recall bain or bcg recruiting on campus (though that may change seeing how the dean of stern used to work for BCG), however, a management consulting club was recently formed on campus* and I think they are working towards getting more consulting companies to recruit at NYU. With that said, I did see deloitte, accenture, and ibm recruiting last year along with a number of smaller companies. Mckinsey also now recruits on campus though they tend to be very selective in terms of GPA (I think the minimum was a 3.7, deloitte required a 3.4 i think). I also might have seen monitor group on the career website, I am not sure though as I was not shooting for a consulting job. (*It may also be worth noting that an arbitrage analysis group was recently started up too which may help to bring about more awareness from hedge funds as the club invites speakers to campus).</p>
<p>Overall, I would have to say that NYU's careernet and interviewnet (the recruiting/job service websites that the school provides) are priceless, though you have to be somewhat proactive about getting your account activated. There are tons of opportunities for undergrads to gain experience throughout the year/do summer internships/get full times jobs upon graduation. Even kids with mediocre gpas were able to land decent jobs. I dont want to set anyone's expectations too high though, fadedfyter was right in describing the traditional route to Hedge Funds/PE, you have to work really hard to land the top jobs.</p>
<p>the guy who made my fake id last year graduated from stern and got a consulting job, he flew a bunch of places.</p>
<p>Thanks for the informative post!</p>
<p>Which smaller HFs are you talking about? In your experience, do people who have the opportunity to land a HF job take it over BB?</p>
<p>I don't recall the specific names of the smaller/lesser known hedge funds as it was a year ago that they were recruiting but there were definately a few. That may sound like a cop-out but what you'll come to find is that all of these boutique i-banks/asset management firms/small hedge funds start sounding the same after a while. Usually their name involves some combination of either someone's name or some location and the word capital or investments: northwest capital, greenwich capital, moore investments, smith's capital investments etc. I completely made those up off the top of my head, but i bet if you google them something would come up referencing an actual company by that name. Thus, one tends to forget the majority of them. </p>
<p>As for whether or not people took jobs at HFs over IB, well..thats tough to say. Two of my friends took jobs at Hedge Funds, but they knew they wanted to be on the buy-side and didnt even look at IB (well one did do an IB internship summer after his junior year and really disliked it, and my current friend thats a second year analyst at a bulge bracket i-bank really wants to move on to a hedge fund already). </p>
<p>Thats not to say that IB is all bad either. But the choice between buy-side/sell-side is one that it seems like most of my buddies had made before they went through the interviewing process. Buy-side as a first year analyst= decent hours, good pay, exit opportunities vary; Sell-side as a first year analyst = Crappy hours, amazing pay, usually excellent exit opportunities. Some see more upside in IB and the sell-side, others just cant stand the hours. It all varies.</p>
<p>I have cousin doing IB at a BB and he also wants to move to a hedge fund, but he doesn't want a decrease in salary. I would imagine that after two years doing investment banking that your hedge funds would pay you more than a recent graduate going into a HF. </p>
<p>Thanks again for the info.</p>
<p>Im a sophmore at Nyu stern and got a internship at a hedge fund/ working in their private equity sector.... I believe its the best way to go ... im 19 and i mak $18 dollars an hour and got a 3000 dollar bonus for the summer... I loved it.. Im hoping to go back this summer!!! Do PE if you can</p>
<p>ixjunitxi is it common for nyu stern students to land internships during sophomore year? Also, is it more likely for a stern student to get a top internship than a CAS student majoring in econ? thanks</p>
<p>Hey nyualum1,
Thanks for your posts. Would you say that the kids getting the hedge fund jobs tend to have more quantitative majors (like statistics) over the regular finance and econ people?</p>
<p>Well most hedge funds and PE firms are private entity... so most dont have a set criteria and they just look for students in strong undergraduate schools with good gpa. Unlike BB who have a more established programs who have strict guidlines and prereq's</p>
<p>Well the hedge fund I was at specifically wanted students from Stern...But that doesnt mean they wouldnt hire a CAS kid with a strong gpa ...private equity is very selective...but if i were you i would go for it...But you have to get started soon becas all other stern kids will begin internship hunting soon as well</p>
<p>thanks for the info. i'm actually not a nyu student, i sent my app in a week or so ago and it's been something i've been wondering.</p>
<p>Yes, I'm working part-time at a (very small) hedge fund now and will be working for one after graduation. I also knew a sophomore last summer who was interning at a large hedge fund (Moore Capital, which has a pretty good relationship with Stern - sponsors scholarships and everything). Old president of BAP is working at Citadel out at Chicago now. It's definitely doable, but you do have to gun for it.</p>
<p>My gut impression is that Stern is probably actually one of the better places to get hedge fund experience - you might not work with very large ones, but there's such a high concentration of funds in the city that it should be possible to at least get a part-time job during the year or something, and prior experience is always a door opener to future experience. Just saying.</p>
<p>Do GSP students with strong GPAs have these same opportunities?</p>
<p>Yes, since after you matriculate into CAS, Stern, or whatever school you end up in, no one will really know you were in GSP. However, if you're looking for internships freshman & sophomore year, it might take you a little more time & effort since GSP might not have the same name recognition as the other schools in NYU. If your GPA's pretty strong, though, it should be fine.</p>