How risky is Point72 Academy?

I go to HYPSM and have an offer from Point72 Academy and also a BB/EB for banking. I’m interested in publics long term and realize that the academy program is a fast track into that. However, I also realize the options I’m cutting off if I don’t take banking, and am also a little concerned about the feasibility to move from pods to more traditional L/S. Would like to hear people’s thoughts.

 

Point72 Academy isn't a risky program, not anymore anyway. Been up and running for 10 years and the fund itself gives you runway.

Your post is indirectly bringing up the SM/MM debate, but I would say to just take P72 if you are sure you want to work in publics. Many L/S funds hire from P72, Pershing/Elliot might not but you shouldn't tack your career on the low prospects of working there.

If you want L/S and have a genuine interest in markets, do P72.

The REAL question, is are you sure this is what you want to do? BB/EB IBD opens up more roles and probably gives you something to fall back on. If you're ass at publics and don't want to risk the Point72 analyst --> Schonfeld analyst --> Wendy's IR pipeline in your 20s if you suck then i would lean on IB more. MMHF seats will be open to you from IB, but IB won't build the skillset the way the Academy will.

The real 2 questions you need to ask: 1) Do i love stocks/markets and want to work in publics? 2) Do I bet on myself killing it?

 

Take the IB if GS/MS/JP/EVR/PJT, Academy otherwise. Coming from an MM only cuts you off from a select few 'top' SMs which you won't have a chance at anyway if not from a top bank/group.

 

Was in the same position and took top EB offer — I think if you are set on working on a top SM long term/are even considering PE, banking is prob better decision on risk adj. basis. That being said, if you are confident in your abilities and want to fast-track to managing money/becoming a PM, there is something to be said for betting on yourself and taking P72.

 
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if you genuinely want to do HF, regardless of podshop or single PM fund, you made the wrong choice... maybe try to enter their grad recruitment process. and it doesn't seem like you'd be a good fit for HF anyway, seem quite risk averse and unable to make high r/r decisions... you seem apt for LO...

i graduated 20Y ago and currently Senior PM at one of the larger platforms… i’ve been around the HF block. haven’t worked there but know loads of seniors at P72… i would’ve taken an offer from P72 academy in a heartbeat. stuff like this just didn’t exist back then, really really sad to see kids make choices like this and throw away opportunity like this… happy to provide guidance to anyone with similar decision…

 

What would make you take P72 academy in a heartbeat? Your experience and views would be very valuable to this thread/forum.

 

Actually in a similar position! Would really appreciate some guidance

 

Hi, would be going to P72 for SA, and would love to find out more from what you know too. I think the main concerns for me tends to be the low conversion rate for FT Academy (I'm not US), and similarly the rates for a pod seat post FT Academy. Those thatdon't make it to a pod tends to have quite some difficulty finding jobs, and the MMs around (Asia) tend to only want experienced hires/from IB too (heard from both head hunters, HR, and biz dev people). Definitely still a great decision/role that I don't regret, but would greatly appreciate any color you can add.

 

If you are not certain you want to be a trader, then you probably don't belong in the academy. Suppose you were a top prospect and the lakers wanted to draft you out of high school, would you say "what if I fail, let's play in the NCAA first so I can keep my post basketball career options open?" If you want to play and someone thinks you have the skills to do so, then be like Kobe and try to go as far and fast as you can.

 

I second what AN1 in EquityHedge said. This question (P72 or IB) comes down to - do you want to do publics as a career?

And how do you answer this question? I like to tell people - look at what you catch yourself doing. In your most idle moments, what are you doing? Are you reading research reports, are you listening to investing podcasts, are you following the markets, do you have an insatiable intellectual curiosity that seems to come full circle to build your mental models (Munger-style)? Or do you just have a passing interest in finance? (That's fine too, to each their own)

It's not who you are underneath, it's what you do that defines you.

 

its only the most well-known HF grad scheme program out there

 

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