Point72 Undergrad Recruiting and Internship Reputation

bdogsc11's picture
Rank: Monkey | 55

Just saw that Point72 is recruiting college seniors with a training program. Would you guys do this? What's your opinion on the firm?

As a current senior in college, do you think I should look into this?

Point72 Internship Career Reputation

When considering a Point72 Internship, the 2008 insider trading scandal of predecessor S.A.C., is bound to come up as a consideration. The dissolution of S.A.C. birthed Point 72 and inspired the shift to family office investing from a hedge fund. While the S.A.C. guilty verdict is a big deal, taking a Point72 internship is not bad for your career from a reputational standpoint.

Gray Fox - Hedge Fund Associate:

The reputation risk is way overblown. It happened ten years ago and those people are long since gone.

Point 72 Undergraduate Academy Internship

The Point72 Academy Summer Internship is a full-time, 10-week program where you will be trained by a group of mentors. The most successful of the these are given offers to continue with the 10-month Academy Financial Analyst Program. It's a huge investment in your development which is why it has a reputation for being extremely competitive.

You can learn more about the academy from Point72 below.

You can learn more about the internship program below.

Benefits of a Point72 Internship

  • Their Academy has a great reputation. The training you get here will set you on a great foundation for your finance career.
  • Better work-life balance than other finance internships. There aren't many places that can say this. You'll still be working hard but there's still room for a life outside of work.
  • You'll develop a ton of great skills. The Academy has a steep learning curve which is why they offer this program but you'll be learning a lot right out the door and getting hands-on experience.

Reasons to Avoid the Point72 Internship Program

While Point 72 offers a great training program and subsequently a good work-life balance, there are drawbacks to taking on this internship.

  • It is reported that only half the Academy attendees are granted a desk position after. It's an extremely competitive program and they only accept the absolute best for full-time. You have to be alright with the possibility of doing an internship with a low probability of a job after.
    throwaway_999:

    Something like half the class got return offers. HR at Point72 told me...straight from the source. Didn't get a reason for the turnover, but given that it was the first year, I'm guessing the training program wasn't up to par.

  • Point72 salary is competitive but bonuses are said to be lower than other finance jobs.

Learn more about Point72 on WSO

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Comments (51)

Aug 31, 2014

It is a good opportunity

Aug 31, 2014

Should be a great opportunity - hired a professor to teach the first analyst class. Program is an 18-month training course, with desk placement after (I'm assuming based on good performance).

Aug 31, 2014

I go to a top public school, and they are also recruiting juniors for internships. I'll be applying in a few days.

Aug 31, 2014

I'd definitely jump on this if possible...

"When you stop striving for perfection, you might as well be dead."

Sep 1, 2014

Where'd you "just see" this information?

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Sep 1, 2014

Got it, thanks guys. No one is worried about reputation risk? As in, will working for a place like this look strange if I apply to b-schools or other jobs afterwards?

WolfOfWallStreet123, I saw it on my school's career website.

Sep 1, 2014

Take it, the reputation risk is way overblown. It happened ten years ago and those people are long since gone.

Sep 1, 2014

Would you mind PM-ing me your school?

Sep 3, 2014

They are also recruiting at (at least) select Ivies

Sep 3, 2014

Family office kind of sucks but still an awesome opportunity.

Sep 3, 2014

Any idea on how b-school exits will be? How adcoms are going to view Point72 in 3-4 years?

Sep 1, 2014

^ also curious about this. What does everyone think?

Nov 19, 2014

Do they only recruit from target school? I cant seem to find a way to apply on their website.

Dec 13, 2014

Any been through the final round interview for summer analyst positions? Bit unsure what to expect

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Aug 31, 2014

No idea but you should definitely report back after you have it...would love to hear how it goes. I would imagine maybe similar stuff to what SAC used to ask in interviews? Considering it's basically the same shop with a different name...maybe look up some of that if you can find it.

"When you stop striving for perfection, you might as well be dead."

Aug 31, 2014

18 month training program, with placement on investment team after (I assume contingent on good performance). This is their first undergrad class, and they hired a professor to teach the analysts (I think she's former Baupost).

Interviews are:
- First round (on campus)
- Case (model and write-up)
- Bloomberg Assessment Test
- Personality test
- Office interviews

Then I assume you'll get an offer.

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Dec 13, 2014
7xEBITDA:

18 month training program, with placement on investment team after (I assume contingent on good performance). This is their first undergrad class, and they hired a professor to teach the analysts (I think she's former Baupost).

Interviews are:

- First round (on campus)

- Case (model and write-up)

- Bloomberg Assessment Test

- Personality test

- Office interviews

Then I assume you'll get an offer.

That sounds sick. Mostly the Baupost-esque training. Would kill.

Dec 13, 2014

Very interesting that they are using the BAT - I got a 99% score but don't even have it on my resume, as I didn't think anyone cared about it. Maybe it's time to reconsider if it's gaining some form of industry traction.

Dec 13, 2014

While the Baupost training sounds great, Point72 might not be the best spot to start your finance career. Lot's of unknowns with the their new structure as well as the talent flooding out the door:
http://www.hedgetracker.com/article/SACs-Point72-A...

Dec 13, 2014

Thanks for the information, I have an interview with these guys soon

Dec 13, 2014

This program you're talking about with Point72, is it available in the States only or does the Asia office have it as well??

Sep 1, 2014

7xEBITDA, where did you get this information? Curious because I heard something different.

Aug 31, 2014

I went through the process. It may differ for each school though.

Dec 13, 2014

Confirm the information provided by 7xEBITDA

Dec 13, 2014

Bump.

How do you think this would stack up against a summer in IB? I was lucky enough to get offers at Point72 as well as a top IB (GS/MS/BX) and have an interest in working at a HF down the line.

For what it's worth, the P72 internship will be with the investment team. Essentially a couple of weeks of training, and then being directly placed on desks with PMs & Analysts (basically doing the same work as a HF analyst).

Both positions are for junior SAs and will be in NYC. Thoughts?

Dec 13, 2014

^ Also interested in hearing thoughts on this

Dec 13, 2014

I'll share my thoughts since I went through the FT process with PT72 and passed all rounds of interviews (couldn't go to the firm due to other complications, will be doing IB FT at a BB)...

I think it comes down to figuring out whether you still want to leave options open for corp dev or PE... I think the Pt72 program is an amazing learning exp esp for someone right out of undergrad. Esp the full-time program, where you'll be trained both in class on via rotations for 12 months with a 6 figure salary (not including bonus)...

but again, if you are not sure HF or public investing is exactly waht you wanna do (aka you've been having wet dreams of becoming a PM and have your own fund since you were a teen), I think going the banking route with a top IB would be a better choice

So in short... the work you'll be doing at PT72 will be much more meaningful and the environment will likely be more intellectually challenging.. trust me, having interviewed at both buyside and IBs multiple times that buyside guys are a different breed... and there are still tons of smart ppl at PT72... Your work at IBD will become boring after the learning curve at first but upside is that you keep your options open for other exit opps and can still go to a good HF after 1-2 years

Aug 31, 2014

Lots of interesting info.

Also interesting that they use the BAT.

"When you stop striving for perfection, you might as well be dead."

Dec 13, 2014

Interested in this as well. Have a interview for their summer internship program and I'm curious about how they're perceived and whether the fact that many of their PMs left, changes anything. Seems like they still had a great year performance-wise, even under heavy scrutiny.

Dec 13, 2014

Nothing scientific but I work in Asset Management and consider them a top shop.

Dec 13, 2014

If im not wrong, for smaller Point72 offices, the summer analyst role has a very high chance of conversion and definitely it provides an option to those who want to go to the buyside directly instead of going through the investment banking route.

On the other hand, it seems like the academy is only being offered in the U.S.

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Best Response
Dec 13, 2014

Last year a non-target got into Point 72's SA program...

You targets better watch out...

Just saying...

Hedge funds don't care about your pedigree. They care about one thing and one thing only; CAN YOU MAKE MONEY?

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Dec 13, 2014

One of my MSF professors is now working there as the director of the training program and talked a bit about it. It's definitely an extremely thorough course. I was able to essentially replicate her class in one of my grad school courses and there was a lot to learn, I have no doubt these analysts will be extremely well prepared. If I were eligible I would have definitely considered.

Dec 13, 2014

That non target got a full time offer too, you're school doesn't mean shit to a certain extent

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Dec 13, 2014

Summer program was a shitshow last year. Something like half the class got return offers. Would not recommend for juniors thinking about a summer internship there.

Dec 13, 2014
undefined:

Summer program was a shitshow last year. Something like half the class got return offers. Would not recommend for juniors thinking about a summer internship there.

I'd love to know where your getting your information from. I've heard nothing but good things about the Academy there.

  • Anonymous Monkey
  •  Dec 13, 2014

Have been advised by a top value manager to avoid P72 at all costs

Dec 13, 2014

50% turnover rate for a HF is higher than I would have expected - when did summers become so entitled?

Dec 13, 2014

Considering the family office structure wouldn't they not need as many new analysts as a growing fund taking external money? They only really need new analysts to cover attrition, and maybe some AUM growth through market appreciation.

Dec 13, 2014

P72 has one of the largest investment professional headcount to AUM in the HF industry. They can feed a lot of kids because of high returns and high fees (once Mr. Cohen renovates the shop and opens up the candy store to new investors again).

Dec 13, 2014

Assuming they don't recruit on your campus, you have to pass the cognitive test, then a skype interview.

Re being better/worse than banking, this question has been answered in previous threads. If you want to be on the hedge fund side of things I would say Point72 is better. If you want to be a banker, intern as a banker. Not sure about what's more respected in terms of PE shops.

Dec 13, 2014

I'm sure it's a good program in which you'll learn a ton, but let's be real, its predecessor was shut down as a result of insider trading. Not sure that I'd want my name associated with that, and it seems that some of the former SAs I know are proudly touting "(formerly SAC Capital)" next to the Point72 name. Though I'm sure it's a decent opportunity, I'm aggressively short on the brand.