From my understanding, the most common route to working at a hedge fund is through sales and trading at a major investment bank. As stated earlier, hedge funds are small, so they don't actively recruit. And they only want people with industry experience i.e. traders.
If you want to work at a hedge fund then a good route out of b-school would be to do sales and trading. From there you could hopefully network you way into a hedge fund. Basically, you are much more likely to find a job trading at an investment bank than you are to at a hedge fund.
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