Worried about there being no offers at Middle Markets
I'm in CM at a large Middle Market bank down in lower Manhatten as a SA and now I am legitimately worried there are no real offers at the end of summer. In Capital Markets there are only two analysts that are our supervisors and then everyone else seems to have been here forever. (older people). I know that the previous two interns (only 2 were taken) last year were not hired (one was a junior and other is now at some equity research firm)
My plan was to do as well as possible to get an offer this summer and from advice from people on this firm I stood more than a 50% of getting an offer if I did well and worked hard and now I'm extremely worried my dreams of a Wall Street job is a lie.
Does anyone else have experiences like this at middle markets? Think Stifel, Macquarie, Oppenheimer, SocGen etc If you know which one is actually based in Lower Manhattan than you know which MM I am talking about. (Not Nomura)
Anyone?
Hopefully some thoughts will get posted today.
So you're at Oppenheimer huh? Why don't you just ask the analysts - assuming you have a good relationship with them. I have supervised interns at a BB and I think it's perfectly acceptable to ask your analyst something like "Do you have any idea what the prospects of full time employment are out of this position?"
If they hint that it's not very good you know to start networking outside the firm ASAP and get your OCR on when you get back to school (assume you are a rising senior?)
I am going to completely and totally deny that I am where the other guy said I was. Anyway:
I think I'll do that towards the end of our program after I show them I can do good work and take charge of some pitches and put in some hours on the weekends.
Deal flow is pretty slow right now and the analysts are just teaching us some basic deal runs, charts etc so nothing I can really work on into the midnight oil or anything.
Do people ever get offers at the end of summer dependent on market conditions next year? The ECM desk used be be 30 people and now its just 15. Maybe they will expand again?
Hey man, we can all sit here and spin wheels but no one (assuming no one on this board has a say in oppenhiemer's SA --> FT conversion) can give you a confident response. Therefore, just keep busting your ass and learning as much as you can (while connecting with other employees & not being an annoyance). If you get a FT offer great, if not, start prepping for full time and go balls to the walls.
Well got introduced to some bankers today and apparently the CM only rarely works on weekends and we've been getting out at 7PM/8PM which is extremely early.
Considering I met some bankers should I show up sometime on the IBD floor (one floor below) late weekdays and on weekends mention that I didn't have any CM work right now, that I'm very interested in IBD, and offer to do some work for them? At the same time considering how close IBD works with ECM I don't want to burn any bridges with CM since I want to work at either group.
I would be happy to get a FT in either CM or IBD but I already interned previously at a boutique M&A and PE firm.
I would really appreciate some thoughts.
i know exactly which bank you're at. go to the IBD floor and see what happens. What did you expect from ECM? People in Capital Markets don't work the nearly the same hours as IBD. Do you even know what ECM does? I'm pretty sure there was a thread you posted before and had no idea if ECM was front office or middle office. I can tell you that IBD works very closely with ECM and it is indeed front office. To be blunt, you seem like an idiot for posting these stupid threads. Do your homework, and start doing real work for an offer, not asking people on forums for advice.
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