Why is P72 always recruiting?
I saw them posted “Academy analyst” openings twice a year, “financial analyst aka research analyst “ openings also twice a year. Can see analyst openings for specific sectors as well.
Every time I received a headhunter call about opportunities in a multi-billion dollar hedge fund is always P72…they must have talked to all candidates in IB and ER.
Why they are recruiting throughout the year and what type of candidates are they looking for?
Maybe not enough target kids applying, or dumb target kids using P72 offer to lateral into their favorite bank teams.
1. They take in a lot of AUM year after year. They need to allocate that to new teams. That means hiring more PMs, who in turn need analysts.
2. Teams blow up so they need to replace those teams with new teams.
3. Not everyone in the academy actually goes on to work for P72. It is an academy in the sense you can graduate and can go do other things if you realise investing isn't for you (or you don't make it I guess).
Most of the top MMs these days are just long capital so growing is not the issue. They have active BD departments who’s job is to always be looking for new talent that is a culture fit.
Bro they always firing
Mix of asset expansion and high turnover/ Churn n burn environment. The latter shouldn’t surprise you if you are pursuing
Always firing.
Super talented kids also increasingly get poached to some obscure SM with an interesting strat/better work life etc. they’ve always got holes at the bottom 80% of talent since they’re firing, and the top 20% has a some turnover too since the street takes.
Curious about SM exits from p72--I'm interning there this summer and am at a HYP school. Was initially a bit worried about being siloed into MM's since I generally like the tech crossover SM approach a lot, but it seems like people tend to have decent exits from p72. Any thoughts on this
if you want optionality do banking.
Depends on the PM and your own ability to “grasp” another investing style in interviews. The skillset you develop at different pods at the same shop can differ a lot. If you can program that would also be a help
Unless you’re aiming for tech crossover at like a tiger cub you should be fine
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