Hedge Funds Hiring Process
Hedge Funds Increase Difficulty & Hurdles in Hiring Process
"It's more and more each year," said J. Patrick Gorman, cofounder of iFind Group, a New York-based recruiting firm. "We've had clients ask for SAT scores from people who have been in the industry for 20 years."
Private-equity firms and hedge funds, which are typically smaller than banks and brokerages, have grown particularly -- some would say excruciatingly -- deliberate.
Todd Monti, managing partner of the private equity and venture capital practice at the Heidrick & Struggles search firm, said that until recently very few firms brought in third-party psychologists or hiring consultants. Today, between 10% and 15% of the candidates that he places are screened by such professionals, typically at the later stages. The wide-ranging and personal Q&As can take up to six hours.
"I view that as part of an evolution of our business," Monti said. "More and more firms really try to understand at a granular level how a candidate would fit in the institution." Read the whole article