This is what it takes to get hired as a junior by Point72 Asset Management in London
Point72 Asset Management has acknowledged that there’s a huge shortage of talent in the hedge fund industry right now, but this doesn’t mean it’s easy to get through the door.
The family office managing the assets of hedge fund billionaire Steve Cohen has just opened up its U.S. academy programme in the UK and Asia. So far, in London it’s received over 1,500 applications for the 2017 intake. Just three to five people will be taken in across the full-time and summer internship programme. In case you’re wondering, this gives you a 0.2-0.3% chance of success. The odds are better at Goldman Sachs.
“The availability of talent in the hedge fund industry is constrained,” says Will Tovey, the head of Point72’s London office. “The desire to grow our own talent is also incredibly high – around 80% of our current portfolio managers are home-grown.”
Students who get on to Point72’s internship in the UK can expect to spent a lot of time in New York. The first two weeks are spent in the U.S. at its ‘training camp’ where you’ll learn about financial modelling, team projects and presentations. Then, it’s back to London for three weeks to work as an analyst on a portfolio team. After week five, the second half of the internship is in New York again covering companies in more depth and pitching stocks.
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