New York (HedgeCo.Net) – Hedge funds have become some of the most exciting firms within the financial sector. It isn’t just the money that attracts job seekers — applicants are also drawn to the culture and fast-paced environment.
Before applying for a job with a hedge fund, it’s important to know what the industry wants most when acquiring new talent. To find out, StreetID turned to Evan Rapoport, CEO of HedgeCo Networks.
First and foremost, hedge funds want loyalty. “Someone that is dedicated to the firm,” said Rapoport. “I think that’s something we look for over here also. Not just during the work hours, but also thinking about the company after hours and how you can help to improve the product at the firm.”
Loyalty is especially important to hedge funds because of the level of sensitive — and often proprietary — information that is shared with employees.
“You’re not just looking for someone to come in and learn all about your strategy and how you operate and then move to another firm or spin off their own firm,” said Rapoport. “This industry is not one that [fosters] a 9-to-5 job. You want someone that will come in early and put in those extra hours — even on the weekend, when necessary — because your benefits are going to be exponential.”
If a hedge fund is hiring a senior exec, “You want to make sure this person has done this before and can operate at the highest level because, again, we are talking about other people’s money,” Rapoport explained.
“You want to make sure that you are very careful with the people that you hire, and who you’re giving responsibility to. It’s not just your responsibility as a fund, it’s a responsibility to the end investor.”