The other hedge fund with 40,000 students applying for 100 internships (2024)

FAQs

How much do hedge fund interns get paid? ›

How much does a Hedge Fund Intern make? As of Jun 29, 2024, the average hourly pay for a Hedge Fund Intern in the United States is $17.04 an hour.

It's not only banks that offer internships to students, hedge funds do too. But if you want to get a hedge fund internship, then good luck. Get Morning Coffee ☕ in your inbox.

Hedge funds employ some of the best-paid business professionals anywhere, but landing your first job in the industry is no cakewalk. Building a hedge fund career takes determination, networking stamina, and a fierce competitive streak. Here are some steps to help get you to that interview and then land that job.

A hedge fund is a limited partnership of private investors whose money is pooled and managed by professional fund managers. These managers use a wide range of strategies, including leverage (borrowed money) and the trading of non-traditional assets, to earn above-average investment returns.

$33,500 is the 25th percentile. Salaries below this are outliers. $44,500 is the 75th percentile.

The top individual Portfolio Managers can earn hundreds of millions or billions each year. Hedge funds offer a much higher pay ceiling than investment banking, (sometimes) better hours and work/life balance, and the chance to do more interesting work.

As we reiterate here often, getting a job at hedge fund Citadel or electronic market making firm Citadel Securities, is hard. Fewer than 1% of people who apply are successful. But there are ways of increasing your chances.

Interns are paid a competitive salary and some make nearly $15,000 for the summer, plus benefits and housing stipends. Several hundred interns work with JPMorgan each year and a large percentage of those interns continue to work full-time with JPMorgan in the future.

Reality: High Stress and Potentially Constant Long Work Hours. Depending on the type of fund, you could work long hours especially when you are just starting. There is a reason why people say at hedge funds your first 6 months is like “drinking from a fire hose.” The role is unlike investment banking or private equity.

3 In exchange, the Securities and Exchange Commission (SEC) requires a majority of hedge fund investors to be accredited, which means possessing a net worth of more than $1 million and a sophisticated understanding of personal finance, investing, and trading.

How many hours do you work at a hedge fund? ›

The work hours for hedge fund traders can vary, and the industry is known for its demanding schedule. On average, hedge fund traders often work long hours, ranging from 50 to 80 hours per week. The specific workload can depend on the fund's strategy, market conditions, and individual firm policies.

A Bachelor of Science (B.S.) degree in finance is ideal for a variety of hedge fund jobs, but your major will matter. Bachelor of Science degrees in mathematics, accounting, physics, computer science, and even engineering are also useful, given the recent rise in algorithmic trading.

Hedge funds seem to rake in billions of dollars a year for their professional investment acumen and portfolio management across a range of strategies. Hedge funds make money as part of a fee structure paid by fund investors based on assets under management (AUM).

Hedge funds offer the potential for high returns and diversification benefits, but they also come at the cost of higher fees and less regulatory oversight. As with any investment, you should do your own research to determine whether they make sense for your portfolio.

Some examples of hedge funds include names like Munoth Hedge Fund, Forefront Alternative Investment Trust, Quant First Alternative Investment Trust and IIFL Opportunities Fund. There are others such as Singlar India Opportunities Trust, Motilal Oswal's offshore hedge fund and India Zen Fund.

Interns earn $19,000 monthly at finance giant Citadel.

Total Salary Range for Millennium Intern

The average Intern base salary at Millennium is $110K per year.

The estimated total pay range for a Intern at Point72 is $54–$90 per hour, which includes base salary and additional pay. The average Intern base salary at Point72 is $54 per hour. The average additional pay is $15 per hour, which could include cash bonus, stock, commission, profit sharing or tips.

The average hourly wage rate for a bachelor's degree intern is $16.26. Generally, the closer to the terminal degree, the higher the internship wage. A college senior, for example, averages 20.2 percent more than a student who just completed the freshman year: $17.47 versus $14.53 per hour.