Hedge fund recruiters find investment professionals to fill vacancies, targeting experienced brokers and traders with securities licenses. They also recruit graduates for analyst positions and attorneys with securities industry experience. Recruiters may work for the hedge fund or an independent staffing agency.
Hedge fund recruiters are responsible for finding investment professionals to fill vacancies at hedge fund companies. In many cases, hedge funds employ internal Human Resources (HR) representatives, whose duties include recruiting. Some fund companies work with independent employment agencies to find new recruits.
Experienced brokers and traders work in hedge funds and these individuals are responsible for managing client funds and carrying out transactions on behalf of the investment firm. Recruiters proactively reach out to brokers and other employees at rival fund companies, banks, and insurance companies. Most hedge fund investors are wealthy individuals. Consequently, hedge fund recruiters typically look for brokers with prior experience handling large deals and the assets of high net worth individuals and large organizations. Recruiters typically contact brokers and traders before jobs become vacant and then compile dossiers of qualified investment professionals whom they contact as and when positions become available.
In most countries, brokers and traders must hold securities licenses. While some investment firms hire entry-level workers who haven’t yet obtained their licenses, hedge fund recruiters often target people who already have the necessary licenses to carry out a variety of operations. In addition, some hedge funds trade in multiple markets. In this case, recruiters can look for licensed brokers to sell bonds in different regions.
Generally, recruiters try to fill trading positions with seasoned investment professionals, but other company positions are often filled with graduates. Fund companies hire graduates in finance, economics and similar topics to work as analysts. These individuals are responsible for analyzing data relating to the securities industry as a whole, the general economy, and specific groups of securities. Analysts make predictions about the future movements of the economy and the performance of different securities. Hedge fund recruiters typically attend job fairs at major colleges and universities in order to find and recruit the best candidates to fill analyst positions.
In addition to sales and finance-related positions, hedge fund recruiters also find candidates to fill positions in the legal department. Hedge fund traders try to generate above-average returns by buying unusual types of commodities, such as defaulted government bonds and delinquent mortgage pools. There are often complex legal issues surrounding these high-risk and potentially rewarding investment products. Consequently, hedge fund recruiters are responsible for recruiting attorneys with prior experience in the securities industry.
Recruiters employed directly by hedge funds are typically salaried employees, many of whom have college degrees in people management, business administration or a related field. While some companies employ entry-level recruiters, many companies prefer to hire recruiters with knowledge or experience in the securities industry. Recruiters employed by independent staffing agencies are also salaried and their companies work for hedge funds under contract. Agencies that specialize in recruiting financial professionals sometimes hire former brokers or traders to work in recruiting roles.
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