S&T Summer Analysts (Compared to IBD)
So everybody on these boards is always talking about the experience of summers in IBD and its SA to FT rates. Obviously as a summer in trading you cant do as much because you arent licensed, but do you still put in the long hours (of course you are doing everything you can to be noticed, but it seems like at the end of the day, their just isnt as much you can do late into the night). Also are the hiring rates to FT much different than IBD or pretty much the same deal?
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WSO Employment Rate: for those of you searching for a job, have you received an offer yet?
Yes
52%
No
48%
Total votes: 110
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You don't do much, from what
You don't do much, from what I've heard, but your hours are great. Out by 8 PM, unless you're on the FX desk apparently.
Intern conversion rates are much lower, at around 50%, at least for DB and GS, but take this with a grain of salt, I'm IBD.
you mean if you're on an fx
you mean if you're on an fx desk you get out a helluva lot earlier than 8, right?
Offer rates are pretty bad
Offer rates are pretty bad across the board for S&T..50% is too high for some banks (where 30% is more the norm). That being said, I think it's hard for banks to judge the skills needed to be a good trader just from a few interviews, which is why they will take on more people and end up having to cut a bunch at the end. The also end up cutting the vast majority (9/9 at the place my summer roommate interned at) of interns that come from the diversity programs, so that could be a factor impacting the offer rate as well.
Re: Offer rates are pretty bad
Offer rates are pretty bad across the board for S&T..50% is too high for some banks (where 30% is more the norm). That being said, I think it's hard for banks to judge the skills needed to be a good trader just from a few interviews, which is why they will take on more people and end up having to cut a bunch at the end. The also end up cutting the vast majority (9/9 at the place my summer roommate interned at) of interns that come from the diversity programs, so that could be a factor impacting the offer rate as well.
From my experience, its pretty hard to not get an offer on a S & T desk.....just take initiative, ask insightful questions, act like you love what you are doing, don't ask to be placed in a different group while you are there, complete projects that they give you, be the first one on the desk(6a for IR Der. desk) and among the last to leave(all of us left arounf 6), go out with the group whenever they all go out...thats pretty much all you need to get an offer.
Yeah but Kasanova, you might
Yeah but Kasanova, you might just have what it takes to be a trader so it might have seemed easy for you. What was the offer rate at the bank you interned at? I don't know the exact offer rate for s&t at the firm I interned at (since I was in banking) but I heard it was around 50%.
Dav3100, On my
Dav3100,
On my desk.....everyone got an offer to come back FT. Overall, I'd say that the average offer rate was ~75-80%. The people that didn't get offers were either really blatant about not doing the things I mentioned in the above thread, or they were just unbearable to be around(even their fellow interns didn't like them). Remember S & T is a lot about personality as an intern. When you come back for FT, after the first year or so, it becomes all about performance. I'll admit, a lot of the personalities on this board would probably be asked to leave if they made some of the comments, or expressed some of the sentiments that they have expressed on this board. But then again, there are those that I think have great personalities for S &T...
Specifically for Sales
hi, so I have an internship this summer with a BB, equity sales, they only hired 2 interns this summer ..so I was wondering ...will it be between me and the other intern to fight for the FT?
how do they judge who'll be gd at the job? and more specifically any ideas about what stuff i'll be doing?
e.g. coffee runs etc
anything else I should demonstrate? exuberant personality etc? or speciifcally focus on
not sure...
Not sure where a lot of you guys are getting your info...I was a summer analyst in "S&T" at a top BB firm, out of the 60 who interned, roughly 85% were asked back. The hours are good. You might have to come in earlier in the AM...like 6-7 depending on the desk, but on all my rotations, I was out by 5-6 pm...great experience.