Both the mystique and unprecedented growth of hedge funds make them attractive to students, says the New York Times. "In the late 1990s, we were competing with the lifestyle appeal of the dot-coms, the idea that you could wear jeans to work, bring your dog and make big money," Janet Raiffa, co-head of campus recruiting for the Americas at Goldman Sachs, told the newspaper. "Today, hedge funds and consulting have taken their place as an aspiration for many undergrads." She added that students sometimes fixate on "the hotness factor, of the next hot thing."
Indeed, Dartmouth senior John R. Ballard confirmed "There has been a buzz for the past year among students about hedge funds. He added, "Hedge funds are known to treat you better, pay you better, and the lifestyle is just better over all. People think they can make money fast at hedge funds."
For his own internship, however, Ballard chose to spend the summer at an investment bank. "It may not be the easiest choice, but for an internship from which I hope to receive a full-time offer after undergrad, it seems like a better decision," he said.