Summer Intern Help Needed!
I’m a penultimate year student set to join a BB next summer in S&T with the ultimate aim of going into trading/research either at a bank or the buyside.
Since getting my BB offer, I completed an internship in fundamental L/S research at a hedge fund which I really enjoyed and made me realise that a research role suits my skillset. I have no experience other than an insight event in S&T.
My question is: given that I know I really enjoy research and my ultimate aim would likely be to transition to the buyside (L/S was fun, would also be interested in learning more about macro strategies as well), should I consider tying to change my BB internship from S&T to ER/CR? How good are these for transitioning into HF research? Is it possible to do the same from BB Sales/Trading?
Thanks in advance for the help.
If you are set on going into L/S equities, equities snt is quite hard to break into an investment analyst role, but you can break into more of a trading role at hedge funds. If you want to just break into hedge funds in general, for example macro as you said, my understanding is sales and trading (rates, FX, etc.) is more advantageous.
Makes a lot of sense, thanks for the help!
1) Recruit for Millennium/P72/Citadel equity analyst grad programs for L/S
2) S&T will not help you break into long/short. Gun for the above programs and if that fails break into IB/ER
3) S&T preferred for macro
Headhunters for millennium’s grad program in London will reach out to people on LinkedIn during their internships (including some people in S&T)
Would love to recruit for those as a graduate programme, although easier said than done! My previous internship in L/S was the result of a lot of networking and reaching out to HF's directly rather than a typical application process, but I'm hoping that I'd be able to use the experience as leverage to get interviews at one of these funds taking grads.
Really useful to hear that S&T isn't completely dead for exits nowadays, looks interesting from what I've seen but my main concern was career flexibility in the future. Suppose it comes down to a macro vs L/S debate in that case.
Thanks for the help.
Can’t speak for macro, but I’ve recruited for one of the funds I listed for FT in LDN for L/s. If you commit to a specific strategy earlier, it’s really achievable to break in to one of those grad schemes since other people aren’t as clued up or switched on vs regular banking etc.
Can I ask what your background is? Feel free to leave anything out too personal but would be great to know what sorts of candidates these places look for. What did you study? And do these firms have a preference for any specific universities, or more someone with prior experience in a hedge fund, IB, ER etc. Thanks.
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