Point72 SA 2020 New Externship Program
Just a PSA, Point72 created a virtual externship program for this summer. Here's what was in the email:
We've heard that many internship opportunities for this summer have been cancelled, leaving students in limbo and unable to build skills and network. Especially for the Class of '21, this is a crucial time to explore options before graduation, and we want to help.
Our Point72 Academy team is hosting an intensive, four-week, virtual externship this July. Selected students will be coached by our Academy and Investment Professional Development teams, gain insights from Point72 Investment Professionals, and work with peers to prepare and present case studies to our teams.
Point72 will provide a competitive stipend, and successful candidates will be invited to interview for our 2021 full-time Point72 Academy Associate class.
The program runs from July 6th-July 31st, and we will be reviewing applications on a rolling basis through May 15th.
Edit: it’s legit
https://careers.point72.com/CSJobDetail?jobName=2020-academy-summer-ext…
It's on their careers site
I wonder why they are doing this/how many they will take
Can confirm. Was emailed this today
Do you know who the email was sent to (like just certain schools/years)?
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who are they targeting for this? to my knowledge a lot of the better internships haven't been cancelled, but moved online already
RBC interns who they want to poach
This?
You're right. The big investment banks haven't cancelled, but a lot of software engineering interns have had their offers taken. This program could be a way to recruit CS majors.
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how competitive will this be? And what is the timeline?
Applications are reviewed on a rolling basis
I have been in communication with recruiters for Point72 about this programme, as my current position requires to discuss opportunities for my organisation. The process is on a rolling basis( first come first serve), there will be a phone screen, superday offer. The process is estimated to be relatively accelerated when compared to banks and P72's typical internship process.
awesome update! - so thanks
do you know when they will start phone screens?
they arent taking international students as well it looks like - which is weird
do this in conjunction to your regular IB internship
The program is described as “intensive” and during the same week most banking internships are starting now that they have moved virtual. I’m assuming your trolling but that sounds like a fast track to no return offer and a poor performance review on this...
Is that only for US students or also Europe?
Interesting how this can only lead to an interview for a FT position instead of an actual FT offer...
This is tempting, but yes, seems like bad idea to do in conjunction with another internship. I would think that, if firm you have current internship found out, they probably would view it as lack of commitment to their program. Plus, as said above, who even knows if doing two of them at same time is even doable.
I wonder if other companies will follow suit and put similar programs in place
It would be good if some firms put a new program in place for month of June, as most of ths shortened internships seem to start in July.
They sent this email over a few different avenues. I applied last year so I got the email directly from them (assuming it just went out to everyone who applied to the SA program), but I also go to a target and got this blasted via like 9 different email lists/handshake etc.
Also worth noting that they mention a 'competitive stipend' so its very unclear what Point 72 is getting out of this- I wonder if they intend on hiring a significant amount of people from this or if its just for the good press.
Seems like a solid way to recruit CS majors who lost their engineering internships
i'm not at a target but I previously applied to one of their programs, which is why I got the email/
Does anyone know how the interview process will work?
Is it hirevue -> first round -> superday -> offer?
anyone received hirevues/aptitude tests yet?
No, not yet.
What is the nature of this in terms of hours? Anyone have any intel on that?
what day did people apply?
I heard about through an email today from a team that collates several virtual opportunities for college students during the pandemic. I'm a rising sophomore, and says that this is targeted at juniors. But does anyone have an insight on whether it's worth it for me to apply anyway?
I am the sponsorship chair for an organization sponsored by Point72, and I have been in communication with them regarding the programme. The externship programme is exclusively for juniors; students in other grades should reach out to recruiters about the Summer 2021 Internship Programme( Recruiting for that picks up in late July).
Is anyone at a BB or elsewhere who is still planning on going through with their internship for the summer applying to this?
I am supposed to be interning at a consulting firm (MBB), however due to my organisation's relationship with P72 all members were encouraged to apply who fit this programme's requirements.
The program is targeted for people who don't have an internship or who have had theirs cancelled. There wouldn't be time for both.
Am doing a part time virtual internship, thinking I could hypothetically juggle both.
That is definitely a bad idea. Don't spread yourself thin so that you fail in both.
Does anyone knows which type of job/profile are they aiming to? i.e. quant, sales, research, etc
This program is tailored to discretionary L/S
Still no updates on how the process will work?
sadly not...I wonder when they will start 1st rounds
any updates?
has anyone heard anything?
I got rejected earlier today. I think they are serious about the whole no sponsorship thing
yikes...that sucks...Im not sure why they did the no sponsorship as they dont do it for other programs
when did you apply? Did they instantly send you the rejection after you applied
I applied exactly one week ago and just got a standard rejection today. Surprised it was that quick which is why i figured it was the sponsorship thing because there's no way they would've looked through all the applications that fast.
Interning at a BB this summer so I'm not eligible for this, but want to be on the radar of Point72 for full-time recruiting just in case. Are there any initiatives to indicate interest in the firm for those who can't apply to this?
Reach out to recruiters and build a good relationship with them.
anyone know when interviews/recruiting will kick off?
Applied on the 21st, no response yet
heard from a recruiter that we should hear back by the end of this week if we’re selected for a first round interview
are they hirevues?
Just to confirm, this is if you applied when the application first went live ? Correct ?
does this mean we should expect to hear back tomorrow? Or was the email they sent out what the recruiter meant when he said we would hear back?
any updates?
They just sent out an email.
"Good afternoon,
Thank you for applying to the 2020 Academy Externship role. For further consideration and in order for us to best understand your availability to complete the program, please respond (in detail) to the question below. Kindly respond by 8:00am ET on May 7th.
Have you committed to, or do you intend to commit to, any other employment opportunity, internships or similar during the month of July?
Best,
Academy Recruiting"
I applied on April 27 and just received a rejection email
Were you from a target?
I do not go to a target, I am diversity canidate that is part of an organization that Point72 has a sponsorship relationship with.
Got an email asking me if I have committed to any other internships starting in July.
Got the email as well - do you think everyone got it?
I got it too. are you guys committed to another internship?
Got the same email today. I currently do have a PT SA at a boutique but would drop for an opportunity at Point72. Would be royally fucked if I don’t end up making the cut, though.
Will this be a full internship (working live market hours alongside Academy and FT people)? Confused on if it can be balanced with another SA. Got the above email as well
Just got the email as well, spoke with an analyst from Point72 and they specifically told me that this is for people whose internships got canceled, it will be a full time role with full responsibility.
But only in july?
I really want to do it but idk how to manage this with a full(consulting) internship?
Why MS? It's a genuine Q!
Honestly, no! Given that consulting internship is full time as is this externship you literally would have to do two things at once. I did at S&T internship at a BB last summer and I can tell you that time commitment required to be successful in this program would comprise your abillity to do the consulting internship.
I got that email and I don't have anything lined up. Does that mean I'll get a first round interview?
with that being said whats the process from now on? was there a screen before to decide who/who doesnt get this email....then first round....then superday? how competitive is this program seen as its basically a 4 week crash course
In terms of competitiveness I would argue probaly much harder( in terms of acceptence rate %) than internships at banks. You have canidates who have had their internships cancelled in tech, consulting, financial institutions, startups ( the audicence this externship is meant for) in addition to all of the kids who could not get an offer for the summer all applying to this one program. Also, Point72 only has 1,400 employees so I would not expect any class size to be that large.
If the process for this programme is the same as full time it go in the following order( based in information recruiter told me): First round interview Case study Inteviews with investment professionals and senior leadership Background Check.
Are there any other firms doing externships like this?
Got the email as well. Curious how will they proceed for the next step.
If the internship is in July, then they will have to move very quick - wonder how many rounds of interviews they will do/how it will deviate from their normal process
I wonder how this experience will be viewed in terms of applying to FT roles
How "in detail" did you all go into explaining your July situation. If I already responded that I do not have not accepted an internship, nor do I plan too. Should I send a follow up email saying " Just for context, my summer internship at XX was canceled due to COVID-19"
Its on my resume, I just didn't process the "in detail" until after I sent the email.
I said the same as you did - realistically they will spend 5seconds reading the email and just look for the word Not or some other negation
Anyone got any idea what kind of questions they would ask for the phone screen? Just in case.
Also interested. Seems like everyone got the email. Do you know what types of phone screen questions are usually asked for the Academy?
If everyone got the email, that is a lot of going through them all for their recruiting team; surely it would've been more efficient for them to have y/n q's on the initial app. Purely speculation, but there must have already been some degree of screening
Considering its an externship programme rather than an internship program, I imagine that phone screen questions will be easier than S&T questions.
I have some friends that were already rejected. Some already had internships and a couple didnt.
Anybody considering reneging an offer if offered the Externship? Also what are the chances they find out you have accepted an offer if you respond to the email that you have no plans in July?
I’m gonna be working on both simultaneously. There’s no way I’m gonna risk my actual internship for this. Also my bank’s program is only 4 weeks so it’ll be a grind for a month
I might be in the minority when saying this but C'mon. You are lucky enough to still have an internship this summer, whereas other people are stuck with nothing to put on their resume or anything in their bank account due to coronavirus. The externship isn't meant for you, it is an opportunity for people who aren't lucky enough to still have summer work, just seems pretty selfish to me.
Are you seriously stupid enough to think they do not have outside checks in place to make sure this doesn't happen? You realize Compliance exists, right? And by doing this you will be violating about 300 securities laws by working in heaps on confi info while at P72. You are going to get caught, you are going to not only get "in trouble"; the firm will bring down every last lawyer they have to prove that you are engaging in this and distance themselves from you. You will be blacklisted from finance for the rest of life.
Your arrogance, ignorance, and stupidity are astounding. Go bring down some other firm you dipshit idiot. You are proof that God has a sense of humour. In the land of the witless, you would be king. Your inferiority complex is completely justified. I'm jealous of all the people who haven't come across you yet. I fart in your general direction. Your mother was a hamster and your father smelt of elderberries.
I second this, as someone who had their internship canceled its been tough having to find something else especially when no one gets back to you and you have to deal with more than just internship problems
based on the email... do you guys reckon for those that put 'i have nothing on in july' in some form or another will have first rounds next week
Next week would seem rather quick, most likely the week after next.
did everyone else get the hirevue/correlation one？
yea it says it’s due on Tuesday tho. seems kinda quick but ig they have to since it starts in 2 months
yea, they said they will get back to us by May 27th? I guess final decisions will come out by then.
Got one today too. Do you think the first question that they didn't list on the email will be more behavioral or technical?
I would assume it should be more behavioral bc the later two are case questions and the online assessment is technical.
Got an email today moving forward with the online aptitude test and HireVue. They also mentioned they’d be extending offers by the 27th. Good luck to everyone else who’s moved on.
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I would assume there might be another round? Hirevue due by the 12th and probably another round of interviews after that then offers by the 27th is what I'm assuming
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Same it was rather straight forward hirevue nothing crazy, did you receive the link to the correlation one test ? I have not received it as of now however there might just be a delay.
how are the correlation one tests weighted? does it just provide a cutoff and then they only view certain hirevues?
does anyone not receive the email -.-
will they ask for a stock pitch?
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corrolation one was a pretty interesting test...defo what dinged me
did u take it just now? or for another interview round
took it just now
Hirevue & Correlation One. Correlation One was a good bit like the ACT & an accounting exam
Didn't get the test, but not sent a rejection. I got the email asking about the July obligations. Not sure what to think.
Same.
same
Hirevue first question: " what is something that you have learned recently that you have found fascinating".
how much time do you have to answer qs 1,2,3?
1) 1 minute 2) 2 minutes 3) 2 minutes
2 Redos
is the first question the same for everyone? did we all get this?
I wonder how the correlation one is viewed in terms of your whole application?
would you say that correlation one is similar to a Wonderlic test?
nah not really. Similar in that it is an aptitude test, but there is finance dotted throughout
any advice on how to prepare?
not really too much prep, just gotta take it.
Does anyone know how many they will take for this externship program?
Surely if its just like doing online classes they will take a lot? no?
Point72 has 1,400 employees. I was at Goldman Sachs last summer and the S&T internship class had 120 interns and 3,000 full time for the nyc office. 120/3000 = 4 %. 4 % of 1,400 = 56. Even if they double the amount of interns that = 106 interns.
thx!
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I thought the point of this externship is to 'teach' those who get through finance concepts/how to invest. So, why do they ask technical finance questions in an online assignment?
I assume to help recruiting better have an idea of applicant's knowledge, and going forward they can have an idea of how much canidates generally know.
so is it not something on which hiring is based off? just data collection so that in the future it can be used to do so?
Hey 2 questions:
what kind of questions are asked in Correlation one test? Can anybody give few quick examples so that I could have a sense of what to expect
anyone have ideas / or wanna discusss the hirevue question 2&3?
My best advice is to do it yourself
Yeah thx!
I just wanna know a little bit about the Correlation one test. Can you give a few quick examples? I have only done the logic reasoning and data inference test, not the finance part. Just wanna know what kind of questions to expect in the finance part. A lot of accounting?
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anyone know how many questions the test is/if time is an issue?
Hey guys is the correlation one test like the wonderlic test? Or actually not??
I heard a large part of the correlation one is accounting??? anyone has ideas
no its not, just take the test and dont really worry about it. you either know the stuff or you dont and we dont know how they will view scores. Plus if you get dinged so what, just try your best mate
Is the revenue question on the hirevue as easy as it seems?
To everyone who keeps asking questions on here, your best bet is to take the test. No point asking your competitors for hint/tips as who knows what they will say. And even if people do help you out, having the same answer wont benefit either
Damn dont feel good about that test, lets hope they put more weight on the hirevue haha
I mean for sure it will be Hirevue>Correlation One; I'm not even sure if the Correlation One will be heavily weighted in terms of final interview decisions - its most likely like the pymetrics/assessments for other companies that matter for nothing; although I could be wrong - perhaps someone with more knowledge could chime in
yeah i didnt rly try for my blackstone pymetrics but ended up getting a first round and it prob was because i networked and had good work experience haha. but yeah who knows how heavily they'll weigh this test
do you guys think there will be another round after this hirevue? hopefully they already cut a lot of people during the resume screener lol
Who knows, its not really an internship. its basically a 4 week online course. sure they pay us, but then they get a better applicant pool for FT recruiting, so perhaps not
Does anyone know if we will know if we have offers by 27th May, or if we are just moving through to next rounds on 27th May?
lol everyones asking but no clue... tbh they can fit in one more round before giving offers as time can allow to go through background check before July 6th, so its possible.
the first case is so hard lol
The first case for?
hirevue
i meant the first question they gave us is really hard
are you joking
the revenue one?
No im not joking there is so many ways you could solve it like theres no correct answer
Now that everyone is pretty much done with the first rounds, how we all feeling?
well the correlation one was a major L, to put it mildly
I would have to agree haha
Lol agreed. Was not expecting it to be that tough
is everyone inerviewing a diversity candidate?
does anyone have any insight as to when we will hear back. Is may 27th when the whole process is over? or just when 1st rounds/final rounds will be given out?
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