The back channel that can get you a hedge fund job at Point72
By Beecher Tuttle
October 17, 2018
Landing a job on the buy-side immediately out of school is a difficult climb. Those seats are typically saved for Ivy League graduates with otherwise flawless resumes. However, a new trend may be brewing that provides students who likely wouldn’t be on a hedge fund’s narrow radar an avenue.
Point72 Asset Management is the latest hedge fund to offer an online competition that gives a few select winners the chance to enter their recruitment channel and potentially earn a full-time offer. The Point72 Investor Semester Challenge is a ten-week simulated competition hosted on investment web app Tiingo. Students who enter will essentially play the role of a hedge fund manager by cultivating a simulated portfolio, including buying, selling and shorting market assets.
Contestants won’t only be judged on their ability to generate hypothetical returns, but also their capacity to research and effectively manage risk, according to Jonathan Jones, head of investment talent development at Point72. Tiingo will track an array of data to identify top performers, including how often competitors log in, research and utilize resources on the investing platform.