S&P Ratings Lat Am Group, Sovereign Ratings Internship

I'm currently a sophomore and this summer I got a Sovereign Ratings Internship at S&P.

My plan is to secure a BB Investment banking internship next summer and an Analyst position in the future. I am just wondering what do you guys know about this internship?, How much do you think it would benefit me?, How does it compare to other internships that I could have gotten? and How much would it affect my chances of achieving my goals in the future?

Thanks!

 
Best Response

Why on earth would you like to go from EM sovs to IBD? You'd have much better luck translating this into a junior buy side fixed income portfolio analyst role (EM focused) or junior macro research on the sell side. If you're decent at quant those things should be no brainers. You could also try for some debt capital markets (focused on sov advisory) or a S&T EM focused role. It's not terribly relevant to IBD other than it's finance experience and a recognizable name. Ignore the naysayers that ratings agencies are useless…the experience is valued by fixed income market participants (especially for a sophomore). One last thought- i'm going to guess you want to do BB IBD because it's prestigious and offers the most exit ops, not because you lovvvvve deals so much. If this is incorrect, ignore the rest. By focusing on emerging market sovereigns you have a chance to build a unique differentiated skill set that is in demand right now (and is intellectually stimulating) rather than becoming another IBD drone. Don't pass it up.

 

I worked in an industry group at a credit rating agency (not S&P) for my sophomore summer. Overall, I wasn't a fan of the culture, think the credit rating industry kinda stupid, and has a lot of Wall Street rejects. However, my experience there was valuable in terms of spending a shit ton of time in 10-Ks (I'm guessing your time will be directed towards pulling/analyzing macro data) and gaining a credit perspective that was useful to speak to in future interviews. A lot of the bright interns who worked at the same position as me ended up in banking and I would've if I didn't take a buy side role. I recommend doing a quick LinkedIn search of people who held this internship position in the past and where they ended up - not conclusive evidence but a good data point.

Not sure how OCR runs at your school, but I think credit rating agency role for sophomore summer is good. Any finance internships following sophomore year are pretty rare at my school.

As it's nearly April, I'd say take it, work hard and make a good impression, and start networking this summer with people at BBs.

 

Without knowing the specifics of the offers, I personally would probably take S&P role as I think it serves as a greater point of differentiation over the standard PWM internship. BNY Mellon DR sounds pretty back office-oriented but I have no idea. The team, pay, location are other factors that are important in selection (a good boss can make or break the quality of an internship).

Ultimately, I wouldn't place too much stock in the opinions on this forum as there's a lot of BS.

 

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