S&T SA to IB FT?

How will Banks view S&T SA experience this summer when applying for full time IBD positions in the Fall? I'd like to have at least somewhat related experience so I can leverage it when applying in the Fall.

Of course, I have applied and been through interviews for IBD SA positions, but the hiring climate is difficult.

Thoughts?

 

I think they would look upon it favorably. You landed a job in the worst financial crisis in the history of the world. You can always say that you thought you would like S&T but realized it wasn't for you during the internship. The name of a bank on your resume won't hurt either.

 
I thought it was harder to get into S&T this year because there aren't many positions to begin with.

You also thought "technical" was spelled "techincal" so I don't know if your thinking carries much weight. S&T is a fucking joke compared to IBD -- especially in this market.

 

um, it's going to be hard but here's what you do. 1. pick the easiest rotations and get an offer, it literally doesn't matter what. No group in S&T will directly help you with IBD. Get the offer. 2. secretly network/make more friends that are in IBD and try to get to meet as many professionals as you can without making it seem obvious that you're a switcher. Don't tell them you want to switch, they'll look down on that. 3. AFTER you get the offer, call them up and let them you know that you would like a chance to interview with IBD. At that time, HR will work with you too.

Here is the best advice I can give you. Pick the easiest rotations that others don't want! PM me if you have more question.

 

"The specific desks you rotate through are important to spinning your S&T experience to break into banking so don't just pick anything..." --> disagree. You can spin any group's experience into banking related but in reality, they're not. I don't mean pick anything as monkey dart throwing but that they're not that important. People in banking knows very little about the groups in S&T.

 
ibanker12:
Yes, it's possible. Very possible.

If I were you, make sure you network surreptitiously during your summer with resource managers/staffers for IBD groups your targeting, during ur summer; AND get a full-time offer with great reviews during your internship.

How easy/hard is it to network with people from other departments without word getting to yours? How about networking with people from other firms; say, if I was at an MM in NY over the summer and was meeting college alumni from from BBs for lunch/coffee during the day?

 

I would start networking after your mid-summer review, say 3-4weeks into ur internship when you have already made a solid impression.

I wouldn't spend more than one hour a week networking, because you don't want ppl to notice that your away from ur desk for too long.

As an intern at a BB, you will be have access to people and folks won't mind meeting you to chat.

You need to make sure you get an offer first before u even "network during the day" with your alumni contacts at other banks - your contacts will be more supportive once you got an offer at Goldman.

 

Why do u want to switch over to IBD so bad? Being a trader at GS is pretty venerable, almost as much as IBD.

If you're on the commodities side, are u part of FICC? If so, I thought they were in the same office. Anyways, I think transferring to a nat resources group would be feasible but you have to do some major convincing because IBD is more intense, and you don't want to come off as some one who doesn't know what they want.

I'm less familiar with S&T.

 

Yes S&T SA to IBD at same bank happens, you should search more.

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."
 
Nouveau Richie:
Welcome to WSO! PLEASE use the search function next time.

I appreciate the reply but that thread doesn't really provide any useful information. I did a quick search before posting and found that most of the other threads had many of the same "do a search" responses as that thread. It would be much appreciated if you could provide a few links to some threads that can provide more insight - thanks for the help!

 

use search this has been asked many times. its doable, but go into the summer with an open mind, you may love S&T. if not, have a good reason WHY you think IB is a better fit. Obv things are diff in this mkt but having a BB FO position sets you apart from most of your peers.

 

I made this exact transition last year. I would start speaking with alumni/close contacts right away. Get the FT S&T offer as you'll be more marketable with one, even though it's not a deal breaker if you don't get it. Have a clear plan regarding how you'll prep/reach out to contacts/frame your story. A couple big points: prep for ib interviews now so you'll be ready regardless of when an interview would come along. Secondly, and this is an advantage, frame your story well for why IB over S&T/other finance. Having genuine reason for one over the other will come off well in interviews vs the kids who make up something off the cuff/are only going into IB because 1/3 of their class is.

 

Would you recommend any resources that are good for efficiently preparing for ibd interviews? My hours are currently very long for S&T so I don't have a huge amount of time unfortunately.

There are some S&T groups which would also be a great fit, and I'll get more information this week about whether I could get a FT in one of those, but the type of work in IBD suits my personality a lot better than flow sales/trading. I also have a decent idea of which groups in IBD interest me the most.

When would be the latest I should start contacting alums? As I said, I'd be happy with a few groups in S&T and I'll find out soon if I'm likely to end up there, so I don't really want to start contacting people about the switch if I decide to stay put.

 

If you can get the internship of course do it. You can always spin it "Well I enjoyed my time in S&T, but it made me realize that I wanted to do IB more because blah blah blah."

Regardless of S&T or IB there will be conflicts of interest, disclosures, etc. because everything you handle is considered insider info.

 

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