rca215 wrote:
I think it would help break into hedge funds, but probably doesn't help much for advancing if you're already in the industry.
I think this is exactly right. I think an MBA will help you break into the HF industry in the following ways:
1) Pass the initial screen. A lot of smaller HF shops literally have nobody in human resources. The PM's will go through the resumes, and they can use the MBA as an initial screen.
2) Alumni connections. I think this industry takes a little bit more networking than others. Setting up informational interviews with alumni is a good way to learn about day-to-day activities and various investment styles. Also, since a lot of HF jobs aren't advertised, it's a good way to learn about job openings. It's not uncommon for an information interview to turn into a job interview.
3) Part-time internships during school. Some smaller shops offer PT internships, where you basically look at a company and give an in-depth report. In a sense, the shop is outsourcing some of their research. Some pay and some don't, but regardless, it's a great way to get your foot in the door.
Obviously you don't need an MBA to work at a HF, especially if you have a great background. But an MBA can certainly be a big help.