Millennium Info
Hi all,
I understand Millennium is a MM HF.
They are coming on campus to recruit for their Junior Analyst Program. Does anyone know more about the interviewing structure and what to expect? What are their strategies? Are they mostly L/S? Any info about them would be great. Thanks!
Would read a few articles I have written on working at a multi-manager. Millennium may sound like a prestigious big hedge fund for someone who is still in college, but you need to focus on what your skillset is and what you want to do longer-term. A hedge fund career right out of college, especially at a large multi-manager like Millennium, will pigeon hole you from the get go. So if you are noy 100% sure about it, then would focus more on other careers that offer more optionality down the road, such as investment banking or consulting.
In terms of your specific questions, interview structure will be focused on why you want to work at a multi-manager, what investment experience do you have personally (school clubs or your own money), what is your technical skillset (do you understand valuation, excel, modelling). Multimanagers have a ton of different investment strategies, long/short equities is the main strategy, but also they do long/short debt, macro/FX, quant, etc.
If you want to learn more about working at a multi-manager hedge fund, would read up on these articles below:
Thank you for this! I interned at a BB this year in IB on a coverage team, I found that most of the duties that the FT analysts were doing were mostly administrative work. What skill sets does IB provide that working at a HF doesn't? Would appreciate your input.
Of course the job of an analyst is mostly BS, very repetitive work. You are at the bottom of the totem pole. All the work that nobody else wants to do is given to you.
That is how it is in most entry level careers. Banking gives you a good technical foundation, attention to detail, presentation skills, teaches you how to work under pressure. You lear a ton from other analysts and associates and build a good network in banking. Hedge funds are way more isolated, nobody is there to hold your hand or tell you how to do things. .
Why so much more than other careers?
^bump on that - I'm very passionate about l/s equity investing but I've heard that going straight to a MM (P72, Citadel) will make it harder to move to SM Tiger Cub later on. Was curious why SMs prefer those who have been in PE or IB for 2 years over someone who spent 2 years at a MM.
currently a sophomore in college and debating whether to recruit only to MM & SM hedge funds or for PE/IB in junior summer
I do not recommend you work at mlp out of college. P72 or Citadel yes, but a run of the mill MM, no.
Why is Citadel or P72 any better than Millennium?
P72 has a pretty robust program for undergrads (the academy) and invests significant time in training etc. Citadel has something similar (i think). At MLP if your team gets blown out chances are you're done. At C/P72 they are much more likely to try and find you a new seat.
I haven't even heard of anyone getting a job at citadel or MLP out of college. Need at least couple years IB, ER, or AM experience.
Citadel used to have an undergraduate program but ended it years ago.
I'd be very concerned if a PM offered a fresh undergrad position on the team. Either they are desperate, praying for a hail-mary or you're the dispensable, cheap mine clearance personnel.
Interviewed for their Junior Equities Analyst Program.
1st Round was a Phone Screen with HR; all behavioral questions.
2nd Round was with 3 Professionals, 2 of the 3 professionals were straight behavioral as well. The technical Questions were basic accounting.
Is this for a summer or full-time?
Full-Time Programme, this is the 2nd year they are conducting interviews for this program so they were not going incredibly hard. The final round was with 2 Management Professionals and the third professional was within HR.
has anyone heard back yet for FT?
How did you apply?
I have been in correspondence with HR for the last few months and I informed that my offers were expiring this week they accelerated the process for me.
Yes, received an offer. Had Superday on Monday, then I was informed a few hours later.
Any idea on comp for the FT L/S equity role with the UBS rotation? Congrats on the offer
any updates?
anyone else heard back?
Offers given yesterday
Was this NYC or London sorry?
Fwiw, I personally cannot think of a worse place to work out of college than Millennium. Millennium is a good place to work if you have managed a little bit of money before and want to manage a larger book without having too much interference. It depends on what your other opportunities are. If you have the option to work for a reasonably good investment bank, I would do that instead without hesitation.
they do a great job for their LPs though.
what about the other MM HFs like P72?
I personally would never work for anyone that worked there fwiw
I interviewed with one guy there who actually laughed at me when I was presenting an investment idea. To his credit, I didn’t pitch it well, but I don’t see why this was necessary. He then proceeded to invite his team of analysts in the room so he could tell them why my idea was stupid - after all why waste a good learning opportunity. He did raise some great points but the laughing at me piece was pretty unnecessary and it’s unclear how this is supposed to help him find investment talent.
The other person I interviewed with there actually primarily gave me technical questions on a 30 min pen and paper test. I liked the test- it was fun. Afterwards he asked me 5 behavioral questions of which 3 were illegal questions to ask in the interview. One was “are you married?” Another was “are you Asian?” He also asked me for my age. IMO if 60% of your questions about who I am are going to be illegal then they better be good questions. I just stopped interviewing there on account of him being an idiot.
I also have interviewed with alumni from the former SAC capital. He was similarly an asshole. I had almost never been more upset by an interaction with a person except for with the first Point72 asshole I mentioned. Most of his interview process was an attempt to get me to send him work I had done for my previous employer for free. I found this pretty insulting and also kind of a lame way to source ideas. If you’re going to be an asshole, maybe come up with your own shit? I told him to fuck off basically and refused to send him past work. Surprisingly, he gave me an offer and said he reminded me of a younger version of the first asshole I mentioned above. (Asshole 1 is sort of important now so I was supposed to take this as a compliment). For me this was sort of just funny... i thought it was weird at the time how the two rudest people I’ve met in my life both worked at point72. it turns out asshole #3 was asshole #1s old boss!!! I did end up getting an offer from this person but I turned turned it down on account of him being an asshole.
tldr: don’t work at point72
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I'd recommend checking on whether this is for investment teams or for other functions.
Bump
2022's bump.
Has anyone heard back for their junior equity analyst program ?
What’s ur location? I am based in APAC and haven’t heard anything since application 1 month ago.
I applied 1 month ago and haven’t heard anything yet (based in APAC)
I applied 1 month ago and haven’t heard anything yet since (based in APAC)
Bump
Bump bump. Anyone heard back yet?
interviewed 2nd round couple weeks ago and havent heard back since :/
May I know which location you applied to?
is this for current sophomores?
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