1. Presented by Glocap Search LLC
COLUMBIA SCHOOL OF BUSINESS HEDGE FUND SNAPSHOT: INDUSTRY TRENDS, INTERVIEW GUIDELINES AND COMPENSATION INFORMATION
Presented by Glocap Search LLC

2. GLOCAP SEARCH LLC
Glocap is one of the largest hedge fund, fund of funds and asset management search firms in the country.
Recently completed searches have been with leading alternative and traditional public investment management firms, ranging from $100M to several billion dollars in assets under management.
Hedge Fund client asset classes include equities, debt, commodities, and currencies.
Hedge Fund client strategies include Long/Short Value, Market Neutral, Event Driven, Global Macro, Fixed Income Arbitrage, Quantitative/Statistical Arbitrage, and Convertible Arbitrage, for example.
The majority of Glocap’s Hedge Fund, Fund of Fund, and Asset Management clients are in the United States, concentrated in NY, CT and CA. Glocap’s Hedge Fund and Asset Management practice also has a European presence, particularly in the UK.

3. DISCUSSION TOPICS
Hedge Fund Market Trends and Recruiting Trends
Preparing for Hedge Fund Interviews
Career Tracks and Compensation at Hedge Funds
Q&A/Resume Collection

4. MARKET TRENDS AND RECRUITING TRENDS
Hedge fund industry still in growth mode
Continued activity in long/short, event-driven, pairs trading, global macro, some pick-up in merger arbitrage
Continued interest in Spitzer investigations/SEC regulations
Evolution to two tiers of hedge funds: start-up versus established funds
Recruiting trends:
Job market is strong and steady but Company search is for perfect fit
Growth mode for hedge funds not similar to growth mode for investment banks, consulting firms, etc.
No armies of HR/Recruiting Teams
Silver bullet mentality
No formal hiring season

5. MARKET TRENDS AND RECRUITING TRENDS
Recruiting trends (continued):
Highly fragmented market for job seekers
Personal network
Alumni network
Recruiters
Job posting boards
On-campus recruiting
Analyst
Generalist
Industry specialist
Trader
Execution
Profit & Loss

6. HOW TO PREPARE FOR HEDGE FUND INTERVIEWS
Educate yourself on Hedge Funds
Read books on Investing, and on different Hedge Fund strategies and managers
Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor by Seth A. Klarman
Market-Neutral Investing : Long/Short Hedge Fund Strategies by Joseph G. Nicholas
Stock Market Wizards : Interviews with America's Top Stock Traders by Jack D. Schwager
The New Market Wizards : Conversations with America's Top Traders by Jack D. Schwager
Follow the markets on a regular basis and develop a clear point of view
Keep up on current events that may be affecting the Hedge Fund industry and think about how this may affect the industry going forward

7. HOW TO PREPARE FOR HEDGE FUND INTERVIEWS
Try to think about how the skills you’ve learned in other jobs can be transferable to a Hedge Fund position.
Identify which shop would be best for your investment values and skill set, in terms of:
Asset Class
Equity, fixed income, currencies, etc
Company Focus/Organization
Industry specific vs generalist
Investment Strategy/Style/Horizon
Long/short, macro, distressed debt, risk arb, etc
Momentum, event driven, etc
Long term vs short term
Look for a shop whose corporate structure and culture is in line with your values
Size of Fund ($, number of employees)
Inception Date/Track Record
Personality fit

8. HOW TO PREPARE FOR HEDGE FUND INTERVIEWS
Set expectations for a typical Hedge Fund interviews
Be prepared to talk about long/short stock ideas ON THE SPOT
Personal Account/Mock Portfolios
How do your investment ideas differentiate you
Is there consistency throughout your investment ideas
Be prepared to do more formal case studies on different stocks and to present your ideas to a group of employees
You may have as little as a few hours to prepare this or as long as one week

9. CAREER TRACKS AND COMPENSATION
Difference between sell-side and buy-side career tracks
Less structured
Less formal
Fewer tiers/titles
Analyst career track – general rule of thumb
2-3 years as analyst
1-3 years as senior analyst PM
Trader career track – general rule of thumb
1-3 years as execution trader
1-3 years as trader/senior trader with P&L responsibilities

10. CAREER TRACKS AND COMPENSATION
Experienced hires (MBA students) with little to no prior hedge fund/asset management experience
Analyst:
BASE: $90k-$120k
BONUS: 1-2 times base
Execution Traders:
BASE: $50k-$80k
BONUS: 1 times base

11. To work with Glocap, please register with us at www.glocap.com
HEDGE FUND SNAPSHOT: INDUSTRY TRENDS, INTERVIEW GUIDELINES AND COMPENSATION INFORMATION QUESTION & ANSWER
To work with Glocap, please register with us at