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This question is about what a hedge fund manager does.
What is the hedge fund hierarchy?
The hierarchy for a hedge fund includes being a junior analyst/research associate, analyst, senior analyst/sector head, and portfolio manager.
Junior analysts will perform several of the same duties as an analyst. These may include financial models, data gathering, idea works, and monitoring. A major difference is that junior analysts do not have as much independence because they are entry-level employees. At this level of employment, you may get some of the hurry-up-and-get-it-done work, but it is still very well paid. An analyst will do much of the same tasks, but with more independence.
A senior analyst performs many of the same duties but is completely independent. However, they have the added responsibility of specializing in an area. You will also spend a portion of your time pitching ideas to portfolio managers, continually coming up with ideas, and finding analysts to support those ideas. Senior analysts spend time managing those below them to help get work done and prove themselves for the next step of a portfolio manager.
The portfolio manager is the final step of the hierarchy. As a portfolio manager, you get to make final trade decisions. You are responsible for overseeing the portfolio, as well as the people involved. Although a portfolio manager will dabble in some of the same tasks as the analyst, they have additional responsibilities. These responsibilities include investment logistics, risk management, non-investment tasks, and portfolio management.
For a candidate willing to put in a long workday, and work their way up through a hierarchy that takes about ten years, this is the ideal job. The pay scale for this job is well worth the time and effort put in as it starts around $100,000 at entry-level and reaches points of $500,000 to $3,000,000 depending on the accounts at the top of the hierarchy.
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