Advice needed for SA at BB IBD

Hi yall,

I'm half way through my summer internship at a top US BB bank think (JPM, MS, GS). So far i have hated my experience and have no intention of accepting an offer if i get one. I probably wont be offered a place at this rate anyway.

During my interview process i got an offer from a boutique think (Greenhill, Moelis, Evercore) but i turned it down in favour of the BB. I parted with the people at the smaller firm and i want to know what the best way of approaching them would be in order to get another summer role or full time position for next year.

I have roughly 4 weeks left in my bb internship.

Advice much appreciated.

RZA

 

If they gave you an offer then you have an even better chance now because of all the experience you gained at the BB. So just email them, tell them you didn't like your group and would love to interview. If you get a return offer from the BB then this will make your life much easier in terms of getting a job somewhere else.

Remember, even though you don't say why you hate the experience, do not expect anything different in the boutique. In fact, boutiques are even more hardcore and the only difference might be the fit.

FYI, very few people enjoy their analyst stints.

Do what you want not what you can!
 
Best Response

I know quite a few people doing IBD SAs at those banks that hate it and will likely reject their offers so your not alone. However, I doubt your going to see much difference by going to a place like Greenhill.

If you still want to IBD but hate the hours, some regional boutiques have great lifestyles (12-14 hours on average since a lot don't do facetime so your hours only get worse when its actually busy) and pay the same as BB since there are less people to go around.

 

I felt that i really did not like the BB i'm at because of the face time and because of the people I work with, as cliche as it may sound i really do not fit into the culture of the firm at all. I dont have a major issue with the hours or the work itself.

I am also aware that few people like their analyst stints but there a limit to how much one should dislike their job...

So should i contact the smaller shops now or wait and what should i say?

 
The RZA:
I felt that i really did not like the BB i'm at because of the face time and because of the people I work with, as cliche as it may sound i really do not fit into the culture of the firm at all.

So should i contact the smaller shops now or wait and what should i say?

Wait until the internship is over and just send them an email reminding them of who you are, etc. The BB internship will make you more desirable.
If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

whats the drawback of emailing them now? i'm worried that if i fail to get an ft offer and i email them then they will think that i'm using them as a last resort...emailing before the end shows genuine interest no?

 

Problem #1: "If they give me an offer, I wouldn't accept it". You don't choose Wall Street. Wall Street chooses you.

2: A bird in hand beats two in a bush. Take the first offer and run with it. I have come across too many people who still can't accept that we are in an econ crisis and there is no telling when or if another offer will present itself, if you turn an offer down.

3. As an intern with minimal job experience, you had better have a darn good excuse as to why you turned down an offer from a BB, just to come back knocking at their door.

4. One thing this crisis has taught me is to be more grateful of my current job. Be happy that you made the cut and take the offer. You can always leave

 

I would rather do a masters or find a completely different job than work in my current BB so me taking the job isnt the issue. What i need advice for is the best way to re-approach previous firms that gave me offers whom i turned down.

 

Tough out the last few weeks and get an offer... it's going to make your life a LOT easier. After that, call the boutique and tell them you have an offer at whatever BB but that you'd prefer to interview/work with them because you didn't fit in with your group at the BB and feel like their boutique was a really good fit when you interviewed.

Without an offer it's a much more difficult move to make.

 

Email the HR people you spoke with during recruitment and ask if any of them have events in NYC during the summer that you can attend. this could put you on the track for accelerated recruitment

Also despite the fact you hate your current situation still try as hard as you can to get a FT offer...everyone who interviews you will ask if you did and if you did not it might be a black mark.

 

I have a similar question, but for some reason couldn't start my own post. I am considering applying to other banks after I finish my SA. I am currently at a BB and like the group a lot, but I am concerned with how poorly they have placed analysts in PE historically. What are some of the consequences I may face if I accept a FT offer from my current bank, but renege in order to go with another?

 
jackpotomus:
I have a similar question, but for some reason couldn't start my own post. I am considering applying to other banks after I finish my SA. I am currently at a BB and like the group a lot, but I am concerned with how poorly they have placed analysts in PE historically. What are some of the consequences I may face if I accept a FT offer from my current bank, but renege in order to go with another?

You will have plenty of time to decide whether to accept/reject your offer...usually dont expire until end of november, well after recruitment is over, so dont worry about it.

 
deal_mkr:
jackpotomus:
I have a similar question, but for some reason couldn't start my own post. I am considering applying to other banks after I finish my SA. I am currently at a BB and like the group a lot, but I am concerned with how poorly they have placed analysts in PE historically. What are some of the consequences I may face if I accept a FT offer from my current bank, but renege in order to go with another?

You will have plenty of time to decide whether to accept/reject your offer...usually dont expire until end of november, well after recruitment is over, so dont worry about it.

Ya, but I'm wondering what sort of impression that would make if I said I needed time to think about it, then tried to get an offer somewhere, didn't get one, and ended up working at my current bank. Will they have any animosity towards me knowing that I'm trying to find a job somewhere else then just settling for them?

 
deal_mkr:
jackpotomus:
I have a similar question, but for some reason couldn't start my own post. I am considering applying to other banks after I finish my SA. I am currently at a BB and like the group a lot, but I am concerned with how poorly they have placed analysts in PE historically. What are some of the consequences I may face if I accept a FT offer from my current bank, but renege in order to go with another?

You will have plenty of time to decide whether to accept/reject your offer...usually dont expire until end of november, well after recruitment is over, so dont worry about it.

Ya, but I'm wondering what sort of impression that would make if I said I needed time to think about it, then tried to get an offer somewhere, didn't get one, and ended up working at my current bank. Will they have any animosity towards me knowing that I'm trying to find a job somewhere else then just settling for them?

 

Email now. As you said it shows genuine interest, not last resortedness (a good made up word) and it seems respectable. it also might get you on the fast track recruiting list etc.

 

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