Hello monkeys!
Just some key takeaways about investment banking in London (after a successful thread about IBD in Asia) Here’s what I have gathered and compiled from reading various sources:
- Less networking intensive to land an interview (miles below NYC, Hong Kong). Recruiting is less competitive.
- Average conversion rate from an internship to a full-time job is 50%. Direct hires for analyst positions are rare and mostly done by smaller banks that hire the people that interned at top BBs but did not receive a FT offer.
- Banks are less strict about interns being in their penultimate year. SAs can sometimes be fresh grads. *Credits to @Bloxorus"
- Banks have many tests, which are done both online and offline. They are usually timed math and logic tests! Good and bad in a way, at least you won’t end up with incompetent bankers that are in just because of their family connections (like Asia)
- Hours are like NYC, definitely less than Hong Kong
- Comp is below NYC especially due to the depreciating pound
- Work culture is similar to the US. In some banks, the MDs are a different beast altogether, but in some banks they are really friendly.
- Some knowledge of a European language is very, very helpful, especially when you’re covering the region.
- Quite difficult to break in as a foreigner if you’re not studying at a European university (although, Ivy League schools seem to be really respected). However, work visa/permit is relatively easy for these banks to get for you.
- Plenty of exit opps to PE/HF since London is a good financial hub anyway.
- Many BBs like BAML, Barclays, Citi, CS, GS, JPM, MS, UBS. Famous boutiques would be Evercore Partners, Greenhill, Lazard or Rothschild
As always, feel free to add/correct a few things! Really need a few things to add, like target schools (other that the usual Oxbridge), actual comps and exit opps.
Sources: [Investment Banking in London](http://www.wallstreetoasis.com/forums/investment-banking-in-london)
[A guide to investment banking internships in London](https://graduateland.com/sv/article/investment-banking-london)
Just want to add that banks are less strict about interns being in their penultimate year. Many SAs have already graduated and plenty have also completed a masters. If you've already graduated by the time of your SA stint most banks will allow you to start FT in January and then complete the training in the summer with everyone else.
Ut aliquid a labore vitae et. Qui deleniti recusandae tempora quas et cupiditate. Autem incidunt architecto eveniet eum nobis minima.
Impedit dolores ut non. Explicabo esse et accusantium veniam ea omnis sed. Enim dolor modi omnis in ab. Ab rerum consequatur et ratione id ipsa est. Dolorem fugit dolor ut ea. Neque minus ut non.
Hic iusto facere velit qui non. Ut nostrum magnam quod dignissimos quasi rerum quaerat. Repudiandae nemo ratione aut illo. Harum iure eaque deserunt hic non molestiae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...