Hiring in the Hedge Fund industry

Hedge funds are hot this year. Well over half of the surveyed hedge funds studied by Barclays Capital are looking to hire.

Further, the sector’s assets increased an estimated 2.53% to $2.473 trillion in December 2010, according to the same study while 63% of hedge funds reporting through December hit new historical highs during 2010, according to HFN Industry Report. This makes hedge funds look really tempting for both recent graduates and established professionals.

As a key sector in the upcoming months, qualifications requirements are rising, too. In the back-office people with knowledge of the legislative system and the recent changes in regulatory disclosure are a must along with deep understanding of tax and compliance. Further requirements would depend on the particular position that the candidates are applying for. For example, investment professionals with a background in equities are in increasing demand.

What are the important job offerings? Hedge funds seem to be looking for these positions – investor relations, operations, compliance, administration, traders, accounting, and risk managers, along with analysts with emerging market expertise and specialists in macro and event-driven funds. Not only would strictly finance positions be sought after. Due to the launch of new projects, marketing and PR specialists would be needed to launch upcoming projects.

Getting a job in the hedge fund sector is in essence difficult as managers would rather promote internally. Thus, job seekers would have to stay alert, be sharp and bring unexpected and desired qualities to the table, along with the traditional ones. Nevertheless, it is the time to build new products, experienced recruiters say making candidates with new demanded skills ever so valuable. HR professionals state that the principal driver for hiring in the hedge fund sector is the assets, predicting that for every $ 1 billion in new assets managers would on average need 15 employees (depending on the strategy).

Emerging markets will continue to attract new business as Growinfinance.com suggested in our latest articles. Predictions are that more than 45% of new launches will be focused there.

Big and small hedge funds have been looking to hire or are planning a recruitment process in the coming months. Among them are SAC Capital, in search for tax analysis and quantitative statistical research analysts. Bridgewater Associates look to hire research analysts, trading and portfolio management professionals and back-office IT. UK based Polar Capital is planning to hire various teams to drive assets-under-management-growth.

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