The hedge fund hiring underprivileged students as interns
Starting a career in finance is a daunting prospect. It’s highly competitive, and you usually need a degree from a top university, along with access to the right networks to win all-important internships. And even then, there are very few opportunities available.
Atlas Fellows, a non-profit supported by Balyasny Asset Management (BAM) in the U.S. is looking to level the playing field by offering access to funding, networking, mentorship, and internship opportunities.
Atlas has opened applications for its 2022 career development program and is looking to accept up to 25 students from underprivileged backgrounds from high school seniors to college seniors.
To apply, Atlas says you’ll need to be a high school senior in Chicago, New York City and Teton County, Wyoming. You’ll also need to have serious interest in a career in the financial industry, be able to demonstrate high academic ability, particularly in STEM subjects, as well as possessing “excellent leadership abilities, intellectual curiosity, and maturity.”
Students accepted as an Atlas Fellow will receive a scholarship worth $20k a year over four years to cover tuition costs. They'll also offered four years of paid full-time summer internships, including a guaranteed first-year internship at BAM. Atlas says it is also working to finalize partnerships with other financial institutions to host its 2021 Fellows as interns this summer.
The first summer internship at BAM lasts a total of seven weeks. Fellows spend one week in a professional development intensive with Atlas staff focused on the development of foundational skills including Excel and Outlook. The remaining six weeks are spent interning directly with teams and mentors at BAM.
Throughout the internship, ATLAS also coordinates training and workshops, which cover topics like imposter syndrome. Former guest speakers have included ex-Secretary of State Condoleezza Rice as well as staff from Goldman Sachs and Morgan Stanley.
Although the program is about broadening access to hedge fund jobs and internships, former participants have attended top schools like Cornell University and University of Chicago. Getting an internship at Balyasny is a major win: the fund paid its UK staff an averge of $1.8m per head in 2020 (although interns clearly won't get this amount).
The deadline for applications is March 11, 2022 and full details can be found here. Applicants selected for the second round will take part in an interview held in late March/early April, 2022. You'll know whether you're successful by the end of April. Good luck!
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