By: The Sider Group
Submitted: 2010-09-13 01:42:47 | Word Count: 414
If you’re wondering how to become a hedge funds trader because you want to get rich quick without a lot of work, you may be in for a surprise. While it’s true that hedge funds traders and managers have some of the highest earnings potentials, a great deal of work goes into this job, and you won’t necessarily make a six-figure salary. But if you have had success with your own investments and have been building credibility and experience in the financial world, this could be an ideal career for you.
There are a couple ways you can go about breaking into this career. In either case, however, it is a good idea to get at least a bachelor’s degree in a subject such as business or economics. Even if you don’t necessarily need a degree, people will feel better about trusting their money to a college graduate, and you will be better prepared to keep up with educated people in conversations if you have a well-rounded academic background. After college, or even during, you can begin networking. If you know a lot of wealthy people who are willing to give you capital, you could start a hedge fund on your own, but more than likely you will begin working for a large company managing their hedge funds.
[ advertisement ]
When you break into this career you will want to have a plan concerning your strategies for managing risks and a solid understanding of the latest reports concerning hedge funds successes and failures. Your plan should also include an estimate of how much capital you need, your goals and a marketing concept. At this point you can have a finance attorney write an offering circular listing what your strategies are, how you will implement them, what an investor needs to qualify, etc. Then find a prime brokerage firm and locate your seed money, which will probably be at least $50,000. You will also need to hire a compliance officer.
Hedge funds traders can earn anywhere from $60,000 as a beginner on a bad year to multi-million-dollar salaries as a seasoned professional on a good year. It won’t be easy, but if you’re good at what you do there’s plenty of potential.
Author Resource:-
Find best accounting schools and accounting programs on AccountingProgramsU.com and start your path to a rewarding career. AccountingProgramsU.com is an online education resource provides information about top accounting colleges of USA and Canada that are offering best accounting degrees in various disciplines.
