Employers

Approximately 347,400 financial and investment analysts are employed in the United States; only a small number work for hedge funds.

Hedge fund firms are located in nearly every state, but the states with the highest number of hedge fund managers (in descending order) in 2024 included New York, California, Connecticut, Florida, Massachusetts, Texas, Illinois, New Jersey, Pennsylvania, and Minnesota, according to Preqin, which provides financial data on the alternative assets market,.

According to ADV Ratings, the top hedge fund firms by AUM in 2023, were:

1. Bridgewater Associates
2. Renaissance Technologies
3. AQR Capital Management
4. Elliott Investment Management
5. Millennium Management

In addition to working at hedge funds, analysts are also employed by venture capital and private equity firms, in the wealth management industry, and by government agencies, insurance firms, and large companies. Some financial analysts are self-employed.

Starting Out

Thirty-five percent of hedge fund professionals surveyed in 2015 (the latest year for which data is available) by Benchmark Compensation, a financial data analytics firm, reported that they landed a job as a result of recruiters and job boards. Twenty-five percent cited personal contacts, followed by using one’s professional network (15 percent), previous employer relationships (9 percent), college career services offices (5 percent), and school alumni networks (2 percent). Seven percent of respondents founded their own firms.

Hedge fund analysts who provide investment advice that results in strong profits for their firm receive bonuses and/or promotions. At a large firm that has a defined career ladder, an analyst can advance to the position of senior analyst after a few years of experience. Extremely skilled analysts can be promoted to head the research department, and eventually to the top investment job of chief investment officer. Some analysts move on to jobs as investment bankers, or transition to analyst positions with venture capital or private equity funds. Others become financial consultants.

Visit https://www.investopedia.com/articles/financialcareers/08/hedge-fund-career.asp to read 10 Steps to a Career in Hedge Funds.

Get certified. It will give you the edge over other applicants.

Visit the following Web sites for job listings:

• https://caia.org/career-center
• http://www.iaqf.org/job-board
• https://www.linkedin.com