Here's a surprise from BusinessInsider: a student enrolled in a joint MBA/JD program at Harvard, armed with an economics degree from MIT and work experience at McKinsey & Co., had trouble getting an interview to intern at a hedge fund. That's the story an anonymous Harvard graduate student shared with Tradestreaming's Zack Miller in an audio interview this Monday.*
Stunned? You shouldn't be. It's actually slowly turning into the norm, said John Pierson, president and CEO of 10X Capital, a search firm specializing in hedge funds.
Even with such an impressive candidate, gaining entry into the elitist and secretive hedge fund world would be a challenge, Pierson said. Especially so in the unnamed candidate's case because the internship he coveted was one where he would essentially be working in the role of an analyst - taking positions on strategies and stocks and reporting to a portfolio manager. Such an internship at a hedge fund would in all likelihood lead to full-time employment, Pierson said.
"I think people underestimate how difficult it is for people from non-traditional backgrounds, despite that the industry is known for taking risks...
Read more at http://www.businessinsider.com/harvard-mba-economics-degree-mit-couldnt-get-an-internship-hedge-fund-2011-10
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