Grad schemes vs Summers

I am an incoming Masters student (graduating 2025) currently interning at a Hedge Find in London. The firm doesn’t usually allow for full time conversions which means I’ll have to apply for opportunities this summer heading into next year. I was wondering whether to apply for SA or Graduate positions (at firms that allow final year students to apply for both) to maximise my chances of landing of role and then converting it to full time. I’m looking to apply for opportunities within the AM space.

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