Buyside Jobs & Internships

Let me be blunt: buyside investing is one of the most competitive corners of finance. For every available seat at a hedge fund or asset manager, there are dozens (sometimes hundreds) of qualified candidates battling it out. Even candidates from top banks and consulting firms often need multiple recruiting cycles to break in.

What should you focus on when targeting buyside roles? Here’s my practical guide:

Investment DNA

Every shop has its own investment philosophy. Some funds are religious about value investing, others chase momentum. Some want deep industry specialists, while others prize generalist investors who can work across sectors. Be honest about your own investment style and target funds that match it.

Platform Reputation

Yes, having “Millennium” or “Lone Pine” on your resume opens doors. But I’ve seen many investors build incredible careers at lesser-known shops where they got better training and more responsibility early on. Don’t be a brand snob – focus on the opportunity.

Scale & Structure

Mega-funds ($10B+) offer resources and established training programs, but you might be one of 50 analysts covering a narrow slice of the market. At a $1B fund, you might be one of five analysts with broader coverage and closer interaction with PMs. Neither is better – but know what suits you.

Development Focus

This one’s crucial: during interviews, probe how seriously they take analyst development. Do PMs expect to teach, or just want execution support? Are you invited to pitch ideas, or purely gathering data? The best training usually comes from PMs who view developing talent as part of their job.

Promotion Pathway

Some funds have clear tracks to portfolio manager or managing director. Others view analysts as permanent support staff. Many operate on an “up or out” model with 2-3 year windows to prove yourself. Get crystal clear on the path forward – your future self will thank you.

Money Talk

Look, buyside pays well – that’s no secret. But chasing the highest first-year bonus could mean missing better long-term opportunities. I’ve seen analysts take slight initial pay cuts to join platforms that launched incredible careers.

Geographic Strategy

Here’s a contrarian take: while everyone fights for NYC/CT seats, amazing opportunities exist in places like Boston, Chicago, Dallas, and even Miami’s growing fund scene. Being geographically flexible can dramatically improve your odds.