Point72 Undergrad Recruiting and Internship Reputation
Just saw that Point72 is recruiting college seniors with a training program. Would you guys do this? What's your opinion on the firm?
As a current senior in college, do you think I should look into this?
Point72 Internship Career Reputation
When considering a Point72 Internship, the 2008 insider trading scandal of predecessor S.A.C., is bound to come up as a consideration. The dissolution of S.A.C. birthed Point 72 and inspired the shift to family office investing from a hedge fund. While the S.A.C. guilty verdict is a big deal, taking a Point72 internship is not bad for your career from a reputational standpoint.
The reputation risk is way overblown. It happened ten years ago and those people are long since gone.
Point 72 Undergraduate Academy Internship
The Point72 Academy Summer Internship is a full-time, 10-week program where you will be trained by a group of mentors. The most successful of the these are given offers to continue with the 10-month Academy Financial Analyst Program. It’s a huge investment in your development which is why it has a reputation for being extremely competitive.
You can learn more about the academy from Point72 below.
You can learn more about the internship program below.
Benefits of a Point72 Internship
- Their Academy has a great reputation. The training you get here will set you on a great foundation for your finance career.
- Better work-life balance than other finance internships. There aren't many places that can say this. You'll still be working hard but there's still room for a life outside of work.
- You'll develop a ton of great skills. The Academy has a steep learning curve which is why they offer this program but you'll be learning a lot right out the door and getting hands-on experience.
Reasons to Avoid the Point72 Internship Program
While Point 72 offers a great training program and subsequently a good work-life balance, there are drawbacks to taking on this internship.
- It is reported that only half the Academy attendees are granted a desk position after. It's an extremely competitive program and they only accept the absolute best for full-time. You have to be alright with the possibility of doing an internship with a low probability of a job after.
Something like half the class got return offers. HR at Point72 told me...straight from the source. Didn't get a reason for the turnover, but given that it was the first year, I'm guessing the training program wasn't up to par.
- Point72 salary is competitive but bonuses are said to be lower than other finance jobs.
Learn more about Point72 on WSO
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It is a good opportunity
Should be a great opportunity - hired a professor to teach the first analyst class. Program is an 18-month training course, with desk placement after (I'm assuming based on good performance).
I go to a top public school, and they are also recruiting juniors for internships. I'll be applying in a few days.
I'd definitely jump on this if possible...
Where'd you "just see" this information?
Got it, thanks guys. No one is worried about reputation risk? As in, will working for a place like this look strange if I apply to b-schools or other jobs afterwards?
WolfOfWallStreet123, I saw it on my school's career website.
Take it, the reputation risk is way overblown. It happened ten years ago and those people are long since gone.
Would you mind PM-ing me your school?
They are also recruiting at (at least) select Ivies
Family office kind of sucks but still an awesome opportunity.
Any idea on how b-school exits will be? How adcoms are going to view Point72 in 3-4 years?
^ also curious about this. What does everyone think?
Do they only recruit from target school? I cant seem to find a way to apply on their website.
Any been through the final round interview for summer analyst positions? Bit unsure what to expect
Point72 Undergraduate SA (Originally Posted: 10/04/2014)
Hi guys, I was wondering if anybody could shed more light on Point72's undergraduate analyst program? I know there was a topic on this a few weeks back, but not too many details were provided. Looking for info on structure, role, etc.
I have an interview with them coming up, and was also wondering what types of questions to expect if anybody could provide color on that. For what it's worth, I'm a STEM major at a "target".
EDIT: Managed to get an offer both here and at some top IBs -- how would you say the experiences compare to one another, and which would be recommended for an eventual career in HFs (value long/short)? Specifically for junior-year SA.
No idea but you should definitely report back after you have it...would love to hear how it goes. I would imagine maybe similar stuff to what SAC used to ask in interviews? Considering it's basically the same shop with a different name...maybe look up some of that if you can find it.
18 month training program, with placement on investment team after (I assume contingent on good performance). This is their first undergrad class, and they hired a professor to teach the analysts (I think she's former Baupost).
Interviews are: - First round (on campus) - Case (model and write-up) - Bloomberg Assessment Test - Personality test - Office interviews
Then I assume you'll get an offer.
That sounds sick. Mostly the Baupost-esque training. Would kill.
Very interesting that they are using the BAT - I got a 99% score but don't even have it on my resume, as I didn't think anyone cared about it. Maybe it's time to reconsider if it's gaining some form of industry traction.
While the Baupost training sounds great, Point72 might not be the best spot to start your finance career. Lot's of unknowns with the their new structure as well as the talent flooding out the door: http://www.hedgetracker.com/article/SACs-Point72-Asset-Management-loses…
Thanks for the information, I have an interview with these guys soon
This program you're talking about with Point72, is it available in the States only or does the Asia office have it as well??
7xEBITDA, where did you get this information? Curious because I heard something different.
I went through the process. It may differ for each school though.
Confirm the information provided by 7xEBITDA
Bump.
How do you think this would stack up against a summer in IB? I was lucky enough to get offers at Point72 as well as a top IB (GS/MS/BX) and have an interest in working at a HF down the line.
For what it's worth, the P72 internship will be with the investment team. Essentially a couple of weeks of training, and then being directly placed on desks with PMs & Analysts (basically doing the same work as a HF analyst).
Both positions are for junior SAs and will be in NYC. Thoughts?
^ Also interested in hearing thoughts on this
I'll share my thoughts since I went through the FT process with PT72 and passed all rounds of interviews (couldn't go to the firm due to other complications, will be doing IB FT at a BB)...
I think it comes down to figuring out whether you still want to leave options open for corp dev or PE... I think the Pt72 program is an amazing learning exp esp for someone right out of undergrad. Esp the full-time program, where you'll be trained both in class on via rotations for 12 months with a 6 figure salary (not including bonus)...
but again, if you are not sure HF or public investing is exactly waht you wanna do (aka you've been having wet dreams of becoming a PM and have your own fund since you were a teen), I think going the banking route with a top IB would be a better choice
So in short... the work you'll be doing at PT72 will be much more meaningful and the environment will likely be more intellectually challenging.. trust me, having interviewed at both buyside and IBs multiple times that buyside guys are a different breed... and there are still tons of smart ppl at PT72... Your work at IBD will become boring after the learning curve at first but upside is that you keep your options open for other exit opps and can still go to a good HF after 1-2 years
Lots of interesting info.
Also interesting that they use the BAT.
The Street's view/ the reputation of Point72 (Originally Posted: 01/08/2015)
There was a forum about SAC's reputation; however, there wasn't anything about how people view the firm now that it is a family office rather than a hedge fund.
Is it still considered a desirable place to work/ would it look good on a resume?
Really, any insight on the firm would be greatly appreciated
Thanks.
Interested in this as well. Have a interview for their summer internship program and I'm curious about how they're perceived and whether the fact that many of their PMs left, changes anything. Seems like they still had a great year performance-wise, even under heavy scrutiny.
Nothing scientific but I work in Asset Management and consider them a top shop.
Point72 Academy’s Summer Analyst program (Originally Posted: 10/05/2015)
Steve Cohen’s hedge fund Point72 Asset Management is looking for rising college seniors for their summer analyst program. This is a new initiative that is an attractive alternative for traditional summer analyst programs that Wall Street banks offer. Applicants can apply for the program via Point72’s website: https://www.point72.com/careers/campus-point72-academy/. Here is the job description of the program:
According to Business Insider, it is a highly competitive program that accepted only 12 of 400 applicants in its first year. The reason why Point72 offers such a program is due to the fact that there’s a big learning curve between starting off in the buy-side and actually being productive on the job. There’s a gap that even a 2 year stint at an investment bank cannot fill.
Thoughts? This seems like a real effort of Point72 to hire undergrads for analyst positions. The compensation is comparable to analyst pay. Even though not everyone is guaranteed a job, the purpose of the academy is to help students get permanent placement. Are there any other hedge funds that offer a similar program? How is this trend affecting the normal hedge fund recruitment process?
Link to the original article
If im not wrong, for smaller Point72 offices, the summer analyst role has a very high chance of conversion and definitely it provides an option to those who want to go to the buyside directly instead of going through the investment banking route.
On the other hand, it seems like the academy is only being offered in the U.S.
Last year a non-target got into Point 72's SA program...
You targets better watch out...
Just saying...
Hedge funds don't care about your pedigree. They care about one thing and one thing only; CAN YOU MAKE MONEY?
One of my MSF professors is now working there as the director of the training program and talked a bit about it. It's definitely an extremely thorough course. I was able to essentially replicate her class in one of my grad school courses and there was a lot to learn, I have no doubt these analysts will be extremely well prepared. If I were eligible I would have definitely considered.
That non target got a full time offer too, you're school doesn't mean shit to a certain extent
Point72 Analyst Program - Thoughts? (Originally Posted: 11/09/2015)
Would be interested to hear WSO's thoughts on Point72's undergrad summer and full-time program (they refer to it as the "Academy").
How does the street view working at Point72? Is this a strong opportunity or something worth passing on if accepted to comparable buy-side undergrad programs?
Summer program was a shitshow last year. Something like half the class got return offers. Would not recommend for juniors thinking about a summer internship there.
I'd love to know where your getting your information from. I've heard nothing but good things about the Academy there.
Have been advised by a top value manager to avoid P72 at all costs
50% turnover rate for a HF is higher than I would have expected - when did summers become so entitled?
Considering the family office structure wouldn't they not need as many new analysts as a growing fund taking external money? They only really need new analysts to cover attrition, and maybe some AUM growth through market appreciation.
P72 has one of the largest investment professional headcount to AUM in the HF industry. They can feed a lot of kids because of high returns and high fees (once Mr. Cohen renovates the shop and opens up the candy store to new investors again).
Point72 Summer Analyst (thoughts, interview process, etc.) (Originally Posted: 11/16/2015)
I've read over every thread relating to analyst hiring at P72, but there's not much of substance as it relates to the summer analyst role and interview process (to be expected, because it's so new).
After the quick cognitive test, what's the interview process like? Does it differ strikingly from traditional IB and S&T interviews?
Also, how does this stack up against a BB IB internship? I heard only 50% of last years summer analysts got return offers. Any thoughts on how P72 vs. BB IB SA would be viewed in full-time recruitment at BBs or EB?
Any opinions are appreciated.
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