I get many pings on LinkedIn from headhunters for hedge funds (who work for a sourcing company). In my experience they all have been pretty manipulative and straight up annoying. What value do they provide to us as candidates? Ie should I just be directly applying to the top firms I am interested in and ignore the headhunters? Are they really helping with scoring the interview/interview prep? Or instead are they trying to negotiate the lowest possible salary for me and a bigger kick back for them? How is their incentive system structured? #recruiting
They probably get 30% of your offer
Only one of the three companies you tagged is a hedge fund.
I meant hedge funds and HFTs
Headhunters are your friend. They want you to get higher tc
Lol
Depends on the level and title. At the PM (portfolio manager) level, I found head hunters indispensable as they made intros to funds that I wouldn't know were hiring. However for roles that you already see listed directly, I don't think there is a value add.
Recruiters/Headhunter comp works 2 ways: contingency (paid after hire is made), or retained (payment is made upfront). For most senior roles, it's a retained search and the percentage to the HH is already agreed upon. There's no reason for the headhunter to lowball your offer as it directly impacts their cut. Stop being paranoid and let them help you.
Great, this was helpful! Thank you
In my experience maybe 1 out of 10 was even able to get me an interview (and I got an offer from it). The rest ghosted me when it became apparent they weren’t going to get me in the door. I’d probably just apply directly if you’re interested in a particular firm.
I think this is bc you're also coming from outside of fintech/financial services.
Probably true. I also don’t have C++ experience so they were probably less interested in talking to me. Though JS rejected me without an interview and they’re not so interested in C++. 🤷♂️
I think it's a good way to get your foot in the door. I get a lot of those messages too but I'm already at a HF so I get a bit more of them since they prefer people with financial industry exp and it's slightly more relevant of an introduction for them to make. You can cut the line with it a little bit. Given you're coming from outside finance space it could probably help you. I have noticed though that strong candidates dont really give a fuck and do fine applying themselves, though I'm sure that's a bit of luck but many times these firms dont publicly post openings and a headhunter is your best way in.
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Do you mean it’s hard to land a hedge fund job?
In case you're not joking, yes it is hard. That's literally a top 1% career. It pays out the ass too