Hedge funds (hedge fund news) fared fairly well in the Dodd-Frank financial reform bill. So what does that mean for hedge fund employees? You might think this would be a great time to be in the industry. But you would be only partly right.

There's a lot of talent up for grabs. But most of the hiring seems to be going on at the high senior level and junior level, leaving the mid-level manager somewhat left out, according to an analysis by Heidrick & Struggles' North American Asset Management Practice.

At the same time, the number of destinations for would-be executives have dwindled significantly. "While at one time professionals had a universe of literally hundreds of firms, this is really down to about 25-30 strong options today." Ouch! While many top executives and manages are seeking employment at the top funds, other, perhaps less attractive, candidates are in demand to incubate funds, which may seem like a step down.

So the path to the top seems to be getting more difficult. Perhaps the best asset you can bring to a company is a contact list chock full of big names in the institutional investment world. And by the way, funds have really stepped up their due diligence.

For more:
- here's the release

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