I go to HYPSM and have an offer from Point72 Academy and also a BB/EB for banking. I’m interested in publics long term and realize that the academy program is a fast track into that. However, I also realize the options I’m cutting off if I don’t take banking, and am also a little concerned about the feasibility to move from pods to more traditional L/S. Would like to hear people’s thoughts.
| +66 | Pod Shop Regret | 23 | 22h | |
| +34 | Best SM seats in 2024? | 35 | 6m | |
| +32 | If and when to move to a pod? | 7 | 29m | |
| +31 | Fastes PM progression ever seen? | 39 | 4h | |
| +20 | Understanding pod shop leverage & cash usage | 2 | 5s | |
| +16 | Why don't MMs do any activism? | 13 | 1d | |
| +16 | Are you making money these days? | 9 | 2d | |
| +16 | How extroverted is the junior MMHF job? | 7 | 1d | |
| +12 | Mid to Low Frequency Quantamental | 1 | 3d | |
| +12 | Point72 Academy Case Study | 13 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Point72 Academy isn't a risky program, not anymore anyway. Been up and running for 10 years and the fund itself gives you runway.
Your post is indirectly bringing up the SM/MM debate, but I would say to just take P72 if you are sure you want to work in publics. Many L/S funds hire from P72, Pershing/Elliot might not but you shouldn't tack your career on the low prospects of working there.
If you want L/S and have a genuine interest in markets, do P72.
The REAL question, is are you sure this is what you want to do? BB/EB IBD opens up more roles and probably gives you something to fall back on. If you're ass at publics and don't want to risk the Point72 analyst --> Schonfeld analyst --> Wendy's IR pipeline in your 20s if you suck then i would lean on IB more. MMHF seats will be open to you from IB, but IB won't build the skillset the way the Academy will.
The real 2 questions you need to ask: 1) Do i love stocks/markets and want to work in publics? 2) Do I bet on myself killing it?
Look man with the way Wendy’s runs its Twitter account, working for their IR team might not be a bad gig lol
Bump
Take the IB if GS/MS/JP/EVR/PJT, Academy otherwise. Coming from an MM only cuts you off from a select few 'top' SMs which you won't have a chance at anyway if not from a top bank/group.
why the MS? do you guys think OP should go for Academy over top BB/EB? or that OP should consider lower tier banks too?
Academy over top BB/EB if they know they want publics long term. Best training and runway of any of the hedge fund programs.
Was in the same position and took top EB offer — I think if you are set on working on a top SM long term/are even considering PE, banking is prob better decision on risk adj. basis. That being said, if you are confident in your abilities and want to fast-track to managing money/becoming a PM, there is something to be said for betting on yourself and taking P72.
if you genuinely want to do HF, regardless of podshop or single PM fund, you made the wrong choice... maybe try to enter their grad recruitment process. and it doesn't seem like you'd be a good fit for HF anyway, seem quite risk averse and unable to make high r/r decisions... you seem apt for LO...
i graduated 20Y ago and currently Senior PM at one of the larger platforms… i’ve been around the HF block. haven’t worked there but know loads of seniors at P72… i would’ve taken an offer from P72 academy in a heartbeat. stuff like this just didn’t exist back then, really really sad to see kids make choices like this and throw away opportunity like this… happy to provide guidance to anyone with similar decision…
What would make you take P72 academy in a heartbeat? Your experience and views would be very valuable to this thread/forum.
can i possibly send you a long idea?
Actually in a similar position! Would really appreciate some guidance
Hi, would be going to P72 for SA, and would love to find out more from what you know too. I think the main concerns for me tends to be the low conversion rate for FT Academy (I'm not US), and similarly the rates for a pod seat post FT Academy. Those thatdon't make it to a pod tends to have quite some difficulty finding jobs, and the MMs around (Asia) tend to only want experienced hires/from IB too (heard from both head hunters, HR, and biz dev people). Definitely still a great decision/role that I don't regret, but would greatly appreciate any color you can add.
Hey, could you please pm?
edit
If you are not certain you want to be a trader, then you probably don't belong in the academy. Suppose you were a top prospect and the lakers wanted to draft you out of high school, would you say "what if I fail, let's play in the NCAA first so I can keep my post basketball career options open?" If you want to play and someone thinks you have the skills to do so, then be like Kobe and try to go as far and fast as you can.
I second what AN1 in EquityHedge said. This question (P72 or IB) comes down to - do you want to do publics as a career?
And how do you answer this question? I like to tell people - look at what you catch yourself doing. In your most idle moments, what are you doing? Are you reading research reports, are you listening to investing podcasts, are you following the markets, do you have an insatiable intellectual curiosity that seems to come full circle to build your mental models (Munger-style)? Or do you just have a passing interest in finance? (That's fine too, to each their own)
It's not who you are underneath, it's what you do that defines you.
quoting batman begins nice
but ya
You are a person of culture 🦇
its only the most well-known HF grad scheme program out there
I would go for the banking offer if undecided and the HF offer overall if you like investing, you can re-recruit for HFs later. Most candidates will generally have a tough time re-recruiting for IB unless they have a great network or go back to school; you'll have a wider range of opportunities going with the IB offer.
How do you say you go to MIT without explicitly saying you go to MIT?
Realistically Yale and Princeton are the pretenders of that group. HSM > YP all day unless you're talking about law
Fuck off
Delectus omnis saepe recusandae sed sunt sit maiores. Quaerat voluptas molestias eum laudantium placeat. Voluptatem soluta doloribus animi quaerat illo. Iusto cum harum sed odio reprehenderit eum. Debitis cum sit dolor aut est. Vel occaecati odio nemo.
Rerum nihil dolores aspernatur perspiciatis occaecati eaque laudantium. Sunt aperiam sunt illo modi at incidunt sed. Culpa vero sapiente reprehenderit voluptatem unde ut unde.
Omnis vel dolorem architecto numquam eaque eveniet ipsum. Eaque itaque ex quia ipsam. Soluta ipsa perferendis quos ut aspernatur nihil omnis.
Quisquam asperiores voluptatem autem est quasi nihil sed. Maxime illum perferendis eveniet maxime. Ut in voluptas consequatur numquam. Dolor quis veniam odit modi hic.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Dolorem qui perferendis fugiat maxime expedita voluptatem. Occaecati quam est eligendi quis enim aut distinctio. Similique velit qui quo saepe. Id maiores sunt provident omnis et.
Ullam aut magnam dolorem expedita consequatur quo. Et hic qui ex. Quidem odio nisi praesentium magnam vel ex. Laboriosam veritatis qui natus et quia. Doloremque commodi magnam est asperiores. Distinctio deserunt voluptatum sequi consequatur.