<p>Hey everyone, I'm currently a undergraduate student. I was wondering how important would one W on your transcript affect your chances at a top school? Assuming I get sufficient GMAT scores would the W be detrimental to my acceptance?</p>
<p>Basically I'm in a scenario of getting 4 As and a C. I'm thinking I should withdraw from the course I'm getting a C or C- in in order to get my GPA to a 3.65 compared to a 3.55 with the C.</p>
<p>Do you guys think its worth it to drop the course? Or am I better of sticking it out and hope I pick my grades up and get a B or B- (both are feasible). As far as experience thus far I have had rather good luck with that interning at a top bank and also with a hedge fund.</p>
<p>Do you need the course for your degree? I’ll assume you don’t since withdrawing is an option; 1-2 Ws will hurt you less than the C, so do it. Just don’t make a habit out of it.</p>
<p>Hedge funds are laying off people as if their lives depended on it. Bloomberg had an article today that the industry is estimated to lay off a record 20,000 people in 2009 (that’s on top of 10,000 shed last year). No one is hiring on this side. Literally. I don’t mean to discourage you, just giving you a reality check.</p>
<p>Thanks Japher, and I know hedge funds are not hiring however I was simply stating that for a college student I have decent experience and hopefully that will translate into a somewhat decent job after graduation. From what I have read on this forum experience outweighs GPA and transcripts…is this true?</p>
<p>No - they have much bigger fish to fry. Your average hedge fund is reeling from the massive record redemptions that have taken place. Funds are simply shutting down outright – plenty of those PMs will have difficulty rotating back into the business / raise new capital (why would someone want to invest in a PM that lost 40-50% of his previous portfolio? No thanks). The investor community is shying away from alternative investments particularly after the Madoff scandal. Legislation currently making its way in Congress to put further regulation / scrutiny on the industry will only serve to create more barriers to entry for investment. <a href=“http://www.crowell.com/NewsEvents/Newsletter.aspx?id=1134[/url]”>http://www.crowell.com/NewsEvents/Newsletter.aspx?id=1134</a></p>
<p>This industry is going through a radical, game changing transformation right now – from Fund of Funds (and that model seems pretty shaky at the moment if you are not a global player with at least 1 billion AUM) to the prime brokerage industry (my bet is that Morgan Stanley may shut down this business in 5 years time if not sooner) to your average HF.</p>
<p>Don’t take my word for it, ask another hedge fund insider.</p>
<p>Experience is sure a big plus, especially if it was with peer firms to the ones you’re seeking jobs at. But GPA, transcript and a whole lot of other elements matter, especially in this market.</p>
<p>FWIW, my son was asked for his transcript at his 2nd job a PE firm. This is after he’s worked 3 1/2 years at a BB in IB. They wanted to check the veracity of his resume.</p>
<p>No. People in finance are far too stressed out to be dealing with naive kids who ‘want to learn the ropes’ and who make cutesy comments. This is not the time of ‘opportunity for the persistent’ in finance; you do that in a strong market. This is the time of ‘each man on his own/save yourself if you can’. In a shrinking industry, where the future of HF itself is in question, HF managers are not thinking about their successor or who to mentor. HFs are not Big Brothers/Big Sisters. Word to the wise, just stay out of the way for now…</p>