Why Hedge Funds Don't Call You Back and What You Can Do About It
Okay, you've scored and aced an interview at a hedge fund, but you didn't get a call back or even an e-mail to say "Thank you, but no."
According to Adam Zoia, chief executive at Glocap Search, it's not much of a surprise. "It's more common not to hear back from a hedge fund than it is from a bank or investment firm," he says. If you have an intermediary - like an executive recruiter - they will often have to chase down the hedge fund client to find out what went wrong, he adds. "They often like to keep their options open.""
It's still pretty common for a hedge fund not to have a dedicated HR person. They're full of traders who might do the interviewing then, in the next moment, go back to the screen. Larger hedge funds are beginning to bring HR people onboard - folks they've poached from banks and bulge bracket HR departments. But it's a slow process to get hedge funds organized on the recruiting side, and HR people who've joined them are often met with resistance. Change is hard, observes Zoia.
So, what's the best way to score a hedge fund post? First, flooding the industry with resumes usually doesn't work. If they want you, they will. Remember, there's some vetting done first. Keep getting the resumes out there, but make sure they're targeted and come with an introduction from an insider or trusted associate of the fund whenever you can. That's the best way to get an interview that will help you leave a lasting impression.