POINT72 RECRUITING SCAM
You know that feeling when you pour your heart into something, and then it feels like it didn’t even matter? That’s exactly what happened to me with Point72’s Academy program. I applied, excited about the opportunity, and soon got the news that I’d moved on to the next stage. They asked me to complete a huge case study—creating an investment write-up paired with building a pretty complex financial model. I spent a full week on it, making sure every detail was right. I finally hit submit, feeling exhausted/proud and thought, “Okay, I’ve done my part. Let’s see what happens next.” A few days later, I got the rejection email. And yeah, rejections are part of the game. They happen. But the kicker is I use an email tracker, and it showed that they never even opened my submission. Let that sink in. I spent a week working on this thing, and they didn’t even take a look before sending the rejection. That’s what hurt the most. Not just the rejection itself, but the fact that my work never had a chance. I get that these firms are swamped with applications, but when you’re asked to spend that much time on something, you’d hope they’d at least take a moment to review it. Otherwise, what’s the point? From this side of the process, you’re jumping through hoops, doing everything they ask, trying to stand out. And then, to realize that all that effort might not even get a glance? That’s frustrating. So, what now? At the end of the day, it’s not just about getting rejected. It’s about how these processes are structured. If companies are going to ask us to put serious time into these projects, they should at least commit to reviewing them. There’s a real disconnect between the effort candidates put in and the attention our work receives. But hey, life goes on. I’m still proud of what I did. This experience just reinforces the need to stay resilient, even when things don’t go your way. If you’ve been through something similar, know you’re not alone. These processes can feel impersonal and unfair, but all we can do is keep moving forward. And maybe, we can start a conversation about how these systems need to change.
lol
Not sure what email tracker you're using but its fairly easy for them to block the tracking, especially if it uses a pixel.
Also, even if they legitimately just never looked at your work, this probably happens to majority of candidates - the full time program has such little spots available.
Why ask the majority of candidates to participate in the interview process then if they’re not going to review it?
Most corporate emails block images by default. The way email trackers work is by embedding an image url in the email. If the email reader never loads the image, it will always look as though the email was never opened.
I was emailing them before the submission, and the email tracker was working just fine. So the issue can’t be that.
Fairs.
you keep referring to being in contact via email before submitting whatever the project was (not clear why because I never had to get in touch with anyone before the project). were you in touch with the specific address you had to submit the attachments to? I doubt it. Therefore your tracker didn’t work on that mailbox.
many companies will make candidates work through these cases and either not look at it, or barely. My friends and I have seen this across various banks in various countries. Go to the online feedback portals (i.e. glassdoor) and write a review about it.
I personally know several people who went through the exact same as you, with the same company. So, apparently this is common with them. There are various posts about them on WSO also. This doesn't make it OK.
These firms are often times interviewing various candidates in different stages. So whilst you might have been working on the case study, they might have been conducting final rounds with a candidate and potentially extended an offer.
This can be one of the most probable reasons.
Not ok from the candidates perspective indeed, but with a few "on process" they ensure a backup, should a rejection (or a miss) happen...
No worries, keep rowing!
Icl this reads like needy hinge guy overthinking being left on read on WhatsApp. Maybe they got tired of reading another generic DCF with a “under appreciated compounder” note attached
Except you missed the whole point about the fact they didn’t open the submission…. degen
Your tracker didn't work bozo
its steven a cohen guys, not a surprise. bro looks like humpty dumpty
This sounds like a skill issue
It would be if I got rejected based on the work I submitted.
Tbf you had to have known it was a long shot right? And ofc people get canned without being looked at. Much easier to grind away on the SS and then move to a pod. At least in that process you’ll get a fair shot
Yeah you’re right. Even with a solid resume/school I knew it was a long shot anyway but I didn’t think it would go down like this
It’s a shitty practice but these firms would rather have more fully done applications to review than do any discernment up front before asking for a case study. When hiring my firm only asked for a case study in final rounds but I know multiple banks and funds start with case studies earlier on.
That’s really frustrating, especially after all the work you put in. It’s tough when you give it your all, and it feels like it didn’t even get a chance. But don’t let it get you down—keep going, and your hard work will pay off eventually.
Thanks Alvin
This happened with me at a smaller SM. 10 page write up and full model, scheduled interview for after the case, guy no shows and then says I was rejected. Fuck Finepoint!
If I were to make a list of firms most likely to block email trackers (i.e. firms that are sensitive about outside monitoring of communications patterns), is there any way Point72 isn't near the top of that list?
Don’t think so in this case because it was working fine in previous emails leading up to the submission
Interesting. And surprising. I'd sooner expect that it got forwarded to someone else who does have the blocker on, than that they simply didn't read the submission. But who knows.
Boo hoo. did like 2 all nighters and got rejected also, part of the game.
Yeah definitely part of the game to get rejected especially at the highest level, my point is they didn’t look at the submission they asked for
And? You don’t have the leverage in this scenario. I’m not defending the practice by any means, but welcome to the cutthroat corporate mentality that dominates the pod shops. They don’t give a single fuck about you or your time. Stop bitching about it and move on with a decent life lesson.
Its more psychologically soothing to believe you got rejected without even getting a shot than getting rejected after someone fully reviewed your work and then deemed it inadequate. I get where you're coming from and I sympathize.
Came here to say the same exact thing happened to me. I got the case and put at least 50+ hours of work into it, and I know I did a great job. Got an automated template rejection email a week after submitting. Followed up with them and asked for specific feedback given the level of time I put into it and got ignored. Fuck them
Standard practice at not just pod shops, but the industry overall
anyone else sniff ChatGPT writing?
Not really
Online AI detector gives this a 75% chance of being written by an AI. I've spent a lot of time asking ChatGPT to write like a human and this is exactly what it sounds like
So what’s the lesson here?
hi
Curious as to what the case looked like. Willing to share?
That’s really frustrating, especially after putting so much effort into it. I’m glad you’re staying positive though, something better will come your way.
Such is life in 2024. Let me guess OP, you are a white or asian male?
A minority/women probably didnt even have to do the case study and got the offer.
This is absolute nonsense. Our pod just went through an intense hiring process for junior analysts, and everyone on the team agreed that two females were the two best candidates by far.
I saw firsthand Asian and white dudes absolutely bomb the modeling exam. Some of them did very well too. Please don't generalize like that.
The bar is lower cope or don’t cope. On average white and Asian males will be better because there is a larger sample size and more competition. Of course there are superstars of all races and genders but look who dominates the hf world.
same thing happened to me last year. I submitted my case (missed the whole week of senior year orientation parties to get this done) and heard back from HR saying they were gonna reach out to schedule a follow-up interview. Weeks passed with no response, so i reached back out and they told me they had moved forward with other candidates. Fuck them.
And i was a minority with a 3.9 at a top target, so go fuck yourself An3^
Are you still a minority?
Honestly their headcount is close to non-existent outside of the US (and for the US this year hasn't been the most rosy too). Their Academy Summer itself has had shitty rates, and FT Academy comes from that pool + external apps too. Overall, just lesser opps this year for P72.
Have a few FT friends and past summer interns, and generally lesser PMs are looking to onboard analysts this year - and if you see the comments on APAC/London, it's just a bloodbath.
With all due love and respect, what the fuck about you makes them NEED to look at your stuff? They get 10k+ applicants, do you think they are seriously going through every single one - one by one - and checking if all your assumptions tie out and if the DCF flows properly? That would take a fucking eternity. You didn't get scammed the recruiting process is built like shit but it is what it is. Stop crying in all caps and move on
Also they auto send out the case study...
What makes me think they’ll look at an application? Nothing, I don’t expect them to look at each one. However this case study is their form of a first round interview, not their initial application. Hope you understand now
HHhaha dude sketchers??? Same thing happened to me.
Fck em😂😂
I got to the fourth round of interview with point72 themselves, and my interviewer was an asbolute dickhead, showed up late, didnt care what I answered, cut me when I was speaking, and then said he had to leave a few minutes earlier.
At the end of the day, firms like this are not worth working for, doesnt matter the money or the prestige. If they don't care how they treat applicants now, then I can ony imagine when you are actually working for them.
Whew that's terrible. Spent a summer there and was fortunate to be under a nice and good PM. I think past a certain point when you start interviewing with the IPs, the experience will vary a lot for different people. Generally the firm has nice culture and nice people but def have some rude dickheads too. Honestly a good PM that's capable and willing to teach >>> Big 4 brand name especially for early career development. The mentoring and guidance esp as with how lost juniors are is key to good performance down the road fr. No point going to a podshop with a shitty PM that doesn't teach you much and you just hop around after getting blown out or something.
I speculate (pure speculation) that the podshops incentivize bizdev teams on maintaining a low acceptance rate, which would be in line with their metrics-oriented incentive model.
Similar to colleges that try to game down the acceptance rate by driving apps via excluding the essay component - that would create an incentive to invite applications for reasons other than finding the best hire (to drive the denominator).
Also - funds of all types want to feel like they got the best talent (because that is the input in this business) and thus how can you know you got the best if you don’t see all the people?
That said, personally I’d be very out off by a candidate sending a tracking pixel. Whenever I get a pixel tracker on emails from the sell side, I reject the read receipt and I make a few judgments about the sender: (1) that they are not forthright and are being sneaky (2) that they are dumb for thinking it wouldn’t be detected
I would expect that forthrightness and respect for firm IP is probably a sensitivity for podshops in general and P72 in particular.
To be more constructive - I’d suggest that in the initial jump to buyside it’s a good idea for YOU to also be in as many processes as possible. Firms like to feel like they’re winning an in-demand candidate and you will create a sense of urgency that will force progression or rejection (whereas the default is slow-walking you). In most cases, your case study thesis/idea is your property & you should use it in other processes before it gets stale. You needed to create a pitch anyway - so the case study wasn’t wasted time.
Finally - life isn’t fair, you’re not owed anything and you don’t have enough info here to adopt such a victim angle. I’m not saying people aren’t treated badly in processes sometimes or even often - but working in your response to perceived slights and building restraint from emotional reaction will be critical on the job and that’s something to introspect on. There’s a big supply/demand imbalance and while ideally everyone’s time would be cordially respected - it just isn’t often and it’s usually not personal. Dust your shoulders off and keep taking shots on goal.
Thank you!
I would auto ding a candidate thinking they're clever for trying to track whether I'm opening their emails. Fuck that noise.
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