P72 vs Tech Banking
Got offers from P72 Academy and a top west coast-based tech banking group. I was always interested in publics out of undergrad but I was lucky enough to get this tech banking option as well. I heavily prefer to be in NYC (P72) but some upperclassmen are telling me to take the banking offer. My thinking is to take Point72 and if I don't like it I can hopefully figure something out FT.
A lot of friends, including me, went with the pod option. If you don’t have other IB or PE experience, it’s going to be pretty tough to recruit for full-time IB if you go to Point this summer. I think the risk is worth it, but at the end of the day, if you can get an offer while you’re still in undergrad, you’re probably smart enough to land one later on if you do banking.
Would you recommend doing PE instead of Publics soph summer then? incoming at a non academy pod shop but was planning to take publics for this summer
The Academy has quite a poor reputation and Citadel, Millennium, Point72, Balyasny all recruit heavily from IB Analyst classes for the “real” seats; while the vast majority of your colleagues are trying to do PE instead. If you’re fluent enough in public markets to get the Academy offer you will have no problem breaking into long/short equity out of banking. Taking the banking role likely gives you better FT conversion odds, maintains more optionality, and will in no way hinder your eventual placement at a pod hedge fund.
“Real seats”
How else do you want me to differentiate between an academy classroom and an actual long/short job? :)
I don’t disagree content wise but conversion rates to actual desks are low and if that doesn’t pan out you’re not in a great place with the academy. The IB analyst kid has a good shot at landing actual l/s team placements and if not they have loads of other options.
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