The world’s hottest hedge fund says banking juniors aren’t adequately trained


January 24, 2018

Jonathan Jones knows a thing or two about investment banks’ analyst programmes. Between 2003 and 2012 he occupied a range of recruiting roles for Goldman Sachs, including the global head of recruitment for the investment banking division. Nowadays, Jones is the head of investment talent development for Point72, the family office of hedge fund manager Steve Cohen: he’s the man to talk to if you want to work with Cohen as a portfolio manager. Jones says Point72 hires juniors from banks, but they always need additional training.

“Our own Point72 Academy Program for training graduates is substantive and rigorous,” says Jones. “The whole thing lasts for 10 months.” By comparison, he says most investment bank training programmes last only six weeks.

“We take graduates further, faster and deeper than any investment banking training programme,” says Jones. And he cites data to substantiate this: “When we look at investment banking analysts for lateral hiring opportunities we set them a modelling test – their average score is 86%. When we set the same modelling test for candidates who’ve been through our Academy programme, they score 96% and complete it in half the time.”

Read the full article from efinancialcareers.