So I work in ER and passed p72 stuff a while back but heard nothing. I reach out to BD now and then to see what’s cooking. They say happy to catch up and then we talk and nothing happens. Wants to do this again … what is the point of all this? Do they have seats or wasting time
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Based on the most helpful WSO content, it seems like your situation with Point72's Business Development (BD) team is not uncommon. BD calls often serve as a way for firms to maintain a pipeline of potential candidates, even if there are no immediate openings. These conversations can feel unproductive if they don't lead to tangible outcomes, but they are part of the long-term relationship-building process.
Here’s what might be happening:
No Immediate Openings: Point72 may not have any current seats available, but they want to keep you engaged in case something opens up in the future.
Candidate Vetting: These calls could be a way for them to assess your continued interest, track your progress, or evaluate how you might fit into their team down the line.
Networking Opportunity: While it may feel like a waste of time, these calls can still be valuable for maintaining a connection with the firm. If a seat does open up, being top of mind with the BD team could work in your favor.
If you want to make these interactions more productive, consider the following: - Ask Direct Questions: Politely inquire about the likelihood of openings or timelines for hiring. - Showcase Progress: Use the opportunity to highlight any new skills, achievements, or experiences since your last conversation. - Stay Persistent but Polite: Regular follow-ups show interest, but avoid overdoing it to the point of seeming desperate.
Ultimately, while these calls may not yield immediate results, they can still be a strategic move for long-term career opportunities.
Sources: The rise of business development roles in the industry, ER Career Paths, Point 72 vs Blackstone, Point72 Summer Academy vs Top BB IBD Summer, Top 10 Undergrad, Top 10 MBA... Unemployed 3 months, 2 not great offers to decide between
Interested
Point has hands down worst BD in the business. Always be asking for more details about your team/strategy/pnl/colleagues and never be serious about roles. Never provide any update and tell you what's going on about a process unless it benefits them. I've switched multiple seats and all the other pods incl C/B/M/tier-2/tier-3 pods all have better , more professional BDs
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