Hedge fund giants such as Point72 and Citadel are launching in-house training programmes to nurture their own talent. These initiatives, which include courses and practical experience, are extremely selective, with an admission rate of less than 0.5% for 136,000 applications this year. Access to these programmes is therefore more difficult than at renowned universities such as Harvard or the Massachusetts Institute of Technology (MIT), where admission rates are in the region of 4%.
These programmes meet a strong need for qualified managers, following the expansion of the industry, which has seen its capital under management increase by $3,000 billion since 2008. The initial results are promising: at Citadel, analysts quickly rise to positions of responsibility, while at Point72, the majority of portfolio managers are graduates of these programmes.
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