Hi,
I started my 6 month internship a couple weeks ago and I would like to make the most out of it. I'm in IB FX Derivs prod. control. I've spoken to a few people that told me they went directly from a 6 month internship to getting a full time offer right afterwords. They didn't have to do a typical Graduate training program that lasts 18 months in between. One guy told me that if I work hard and show the team/managers that I'm motivated to be here, that I have a really good work ethic and spirit, you can get a full time offer.
I have a bachelor's degree. My goal would be to transfer to a FO role like ECM, FX sales (as I'm gonna be quite familiar with the subject after my internship, I'll have some knowledge) or anything FO. A few guys told me a master degree is not necessary. I know it's already been a few weeks but I'm trying to plan ahead. Should I try and secure another 6 mo internship after this one ends but in a FO role (I can leverage my Finance experience and position with FX)?
I've already asked my manager if I could print tons of documents I found on the internal system to take home and read so I think I'm already giving a pretty good impression. I'm always early at the office, always asking if there's anything I can do when my daily tasks are finished, talking with the whole team, etc...
Should I also like do as many Online training programs as possible? Like learn the in and outs of VBA or something. My bank has tons of online training stuff on basically everything.
Sorry, gave lots of info here but it's just that now I'm "in" the door, I want to give my very best.
There is a huge misconception with the "in the door" thing these days. It's not the 80s anymore and you can't just go from being a janitor to selling bonds at Solomon anymore. With that being said, making the jump from MO/BO into FO is nearly impossible without grad school or something like the CFA. I'm not trying to be mean, just saying the truth.
definitely not the truth, at least not in europe
you have fairly good chances, just keep networking with everyone and maybe ask relevant people about FO openings or just show interest in working there... you are doing a good job right now, show them that you are an excellent candidate
Thanks for the responses guys.
I know the jump won't be easy but don't you think I have a better shot at transfering from a FX finance position to a FO FX position than someone who's doing FO in a totally different area than FX?
I also heard things work very differently in Europe than in the US.
Do you guys suggest I start looking (of course not right now but in a couple months when my internship will soon be over) for an FO FX internship or should I straight away go for the full time FX position? If doing another 6 month internship means I can get an FX FO position at the end then I'm willing to do it - it's just that I will have spent a whole year doing internships.
A lot of people have been talking to me about the CFA since I got here. I'll ask around to see what people think. I think I'll just ask my line manager to see if he'd recommend me doing the CFA.
I think i'm already showing a lot of interest in the FX business. Of course, I'm showing interest in the Finance job I'm supposed to do but I also want to know how these products really work, what kind of strategies the trader's use, how macroeconomic news impacts the FX scene, the details of how the Greeks work, etc...
What can I learn as a new skill while I'm doing my internship?
-I asked about the importance of VBA in my job/sector and one guy told me I'm not in the sector where it's most used but that it's always a good skill to have. Also asked my line manager who saw a VBA document I had printed out on my desk and he said that yeah it's a good tool to have. Since I used Excel a lot in my daily tasks, I think that learning VBA (at least a few concepts) can be useful. Plus it's always something I can mention on my CV.
-What do you guys think of the CFA for people that want to work in IB? A lot of people have been talking to me about it but I also heard it's mainly suited for Wealth Managers and Private Banking/Asset Man. people. What gives? Is it worth the time and money if I want to later work in a FO IB role? Level I of the CFA is in December, I could potentially take it then but I'm not sure it's a good idea. This is my first internship, I want to give 100%. I'm not sure getting back home at 8-9pm and starting studying for the CFA all night is smart. What do you guys think?
Any other skills I can work on that can benefit me in the long run if I want to try and land a FO IB position after this internship, whether it's another internship or a full-time job (most likely will be an internship).
bump
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