Hedge Fund Hiring Bounces Back

Oct 13 2009 | 12:51pm ET

The number of new hedge fund jobs more than doubled in September, after bottoming out in August, according to a new report.

More than 80 new hedge fund job postings appeared in September, after bottoming out at about 40 in August, HedgeFundJobList.com reports. It was the highest number of new hedge fund jobs in six months. What’s more, the report predicts a steady increase in new job postings over the next eight months.

“Widespread liquidity issues, investor redemptions and general market malaise combined to bring hedge fund hiring to a new standstill,” Josh Gnaizfa, managing director, said. “The recent financial market stability is reinvigorating the market for qualified hedge fund job candidates.”

New York remains the place to work in hedge funds, the report shows. It was named the top state for hedge fund employment, and is home to 38% of the industry’s jobs in the U.S. Nearby Connecticut ranked second, followed by Massachusetts, California and Illinois.

New York may be the top state for hedge fund employment, but the Big Apple is only the fourth-best city for hedge fund employment, according to HedgeFundJobList.com. Greenwich, Conn., Boston and San Francisco top New York, which is followed by Stamford, Conn., Chicago, Palo Alto, Calif., Westport, Conn., Dallas and Atlanta.

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