Should I take Point72 SA--breaking into SM HF's?
Hi all, I'm a sophomore at a HYPSM schol studying computer science. Here is my current dilemma: have an offer from Point72 for its summer 2024 academy (return offer rate is ~80% for reference). It expires in one week.
I'm debating taking the offer, here are some of my considerations. I'm currently in the process of interviewing for some MFPE and IBD roles but am unsure if those will be done by the time my offer expires, trying to accelerate those though. I really like HFs and L/S broadly--I worked at a tiger cub SM this past summer and liked the work, particularly the crossover investing part. My question is, will I be able to break into a tech focused L/S crossover fund (think Dragoneer) from point72?
Being a computer science student, I really like bleeding edge tech. I also have entrepreneurial aspirations and believe a SM crossover fund would be great as I get to work with a lot more founders. Obviously I know these funds have done quite poorly lately but based on the new crossover funds being launched (Avala Global out of Viking, Kultura out of Whale Rock, etc.), I believe the strategy will be succesful long term.
So my question is, will I be able to break into one of these funds from Point72? And if not, will I be able to rerecruit relativley easily for MFPE for full time after doing a summer at Point72? Thanks!
It's possible but more difficult than most think. There is a preference at such places to hire from IB/PE given a view (rightly or wrongly) that MMs are short termist. Also, the recent surge in undergrad hiring at MMs has led to a bit of an oversupply of candidates looking to make the switch from the (high-intensity) MM environment to the (perceived easier) SM environment.
Yes.
Ok perfect. I'm mainly looking at it as "this is just a summer" and point72 still lets me recruit for anything full time. I've seen a decent ammount of Multimanmager interns (citadel, pt72, deshaw) rerecruit for MFPE on LinkedIn so I'm hoping that'll be ok.
,
can you pm me? interested in learning about your tiger cub experience
if i were you i would take an offer at a BB IB in IB or ER if you want to break into a top HF. hedge funds largely require sellside experience and its viewed as a training ground for all buyside roles. p72 is a cuthroat place and you could be spit out of there fast, at which point youd likely have to start over by going to the sellside before trying buyside again. its kind of like skipping college in my opinion, awesome if you can pull it off but risky if it doesnt workout. others may think differently, but those are just my 2 cents.
internchic, your most recent comments explicitly state that you were rejected by Point72 2 years ago and are desperately trying to lateral there currently.
Not sure why you are coming at me so hard when I’m trying to offer advice as a person with 4 years of experience in public equities. 3 years on the sellside and 1 year at a long-only which is a 2 year program hence why I’m looking for opportunities again. Also, I was never rejected by P72. Even if I was, how is that relevant? From my position, I think sellside experience at a BB investment bank is really valuable and something that buyside looks for. I didn’t say OP shouldn’t work at P72, just that it could be a difficult place to initially start as an intern. Sorry for offending you so badly.
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