Landing HF Summer Analyst Interviews

Hi all,

I’m currently a rising sophomore at a Canadian school (equal. to a non-target in the states) hoping to land a SA28 role at one of the few HF shops with structured undergrad programs (P72 Academy, CAP, etc.).

Since structured undergrad HF recruiting information is far less standardized than traditional IB/PE, I’m looking for advice on how to optimize the next few months to put myself in the best position possible. Most of my recruiting knowledge comes from the standard IB timeline, so please bear with me if some of this sounds naive.

I have a few specific questions for those who have gone through the process or are currently on the buy-side:

1. Landing the Initial Interview & Networking

• How heavy is the non-target resume filter for these undergrad programs?
• How critical is networking for securing the initial interview compared to IB? I've read online that Point72 sends an initial test/questionnaire to almost all applicants, and performance on that benchmark determines if you move forward. How accurate is that for the current cycle?
• If I were to network, I've heard that they flag all emails that containing an attachment (i.e. resumes) because of compliance issues, is that true?

2. Preparation

• I spend a lot of my spare time reading up on stocks and building pitches, but my personal investment philosophy leans toward long-term value. Given that platforms/pod shops trade primarily on a quarter-to-quarter basis focused on near-term catalysts, how should I adapt my pitch style?
• How should I go about valuation when looking for near term catalysts? Should I still build out a 5-10 year DCF or do I slap on a target P/E multiple on the projected EPS?

I understand that CAP is most likely out of the question, but I have seen a few Canadians land P72. Was also wondering what other HFs I should have on my radar. Any insights would be greatly appreciated!