Reality of MM/SM HF out of UG
I'm a current junior and want to set my expectations properly.
I already have a public markets role secured for next summer and know I want to join a HF down the line. What's the process for trying to get to P72 Academy or something similar and secure a spot? I know the odds are long, so anything is appreciated.
For the 2023 summer intern class for Point72 Academy, there were 20,000 applications for around 35 spots. Extremely difficult.
Looooooooong odds. Thanks for the numbers. Assuming it's harder for the actual academy.
Much harder, there's a handful of spots for the full time academy across all offices
Never understood this - if churn is so high, the work is so shit, and the exit ops are nonexistent if you wash out (at least according to half of this forum), why does everyone and their mother want in vs. just going to a bank and pay your dues for 2 years?
Lots of misconceptions here. The academy has a lower churn than banking if you look at graduates who stay with the firm, work at hedge funds is far more interesting than banking, and Citadel/Point72 are now trying to hire mostly from their grad programs. Don’t trust a forum full of students. 19,965 got rejected and many of them could be salty.
So how much value do you think there is to trying to gain one of these spots (not sure the recruiting timeline), trying to network/cold-call into a smaller and less well known HF, or just recruit FT for IB and pay my dues for 2 years as mentioned above?
If you know 100% you want to do this, then starting at an MM is optimal.
if you’re anything less than 100%, IB is still the best gig out of college for you, opportunities to move over to MMs will pop up later.
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