Amplify trading - Scam or real
Saw a recent post that their internship is a scam, need advice as guy I'm mentoring asked me if I've heard of them. I'm based in UK and know alot of people junior to me that have attended their programmes, I think they might of paid, but feedback online looks decent enough; he said they got to work on real deals as an analyst. Know they're taking off in China too, maybe targeting international students?
It's not an internship, it's a 1-week programme during which the kids have to watch some shitty Zoom conferences and then they have to submit a PowerPoint presentation about a deal and tada, they call that an investment banking experience
Scam
Please can you elaborate?
It’s a dodgy training course that 1) costs a lot [what other respectable internships make you pay them?] and 2) is known as such, meaning you won’t get ‘credit’ for it when applying for jobs [and may even hurt you if someone sees you as sucker].
1000000% scam trust me
Total scam just like the city banking prep course thing. Costs a couple grand for 1-2 weeks of “preparation”. You would almost be better off doing the Bright Network “IB experience” but that’s also a total waste of time.
I have to do it for my fucking masters
Is your Masters from a for-profit?
LBS makes you go through them????
Scam. Don’t believe the success storjes they put out - those kids would’ve gotten in on their own (usually diversity kids who are already qualified)
I've been seeing these Amplify posts all over LinkedIn for the past year. To anyone considering their 'internship', which costs thousands of pounds, please avoid it at all cost. Your money is much better spent on modeling courses such as WSP or just about anything else that will help you prepare for interviews.
All the people I know that have participated in these Amplify events have stated that their Amplify experience did not help them at all in securing any roles and the people that Amplify portray as having made it into BBs because of their programme are, from what I have seen, nearly all in Back Office and Middle Office positions.
They are quite obviously cashing in on the craze around Investment Banking and the vast amounts of students who so desperately want an IBD internship but fail to do so.
I agree, but in Asia it looks like they're a big deal for some of the top unis (NUS etc.) - which is a bit confusing, surely the undergrads know they can get better resources cheaper? They hold trading competitions with cash prizes etc.
All I know is that that ED from the firm is jarring af
I wouldn't go as far to say it is a scam but whether it is worth it to you is another question. I did the Finance Accelator program at Amplify (its free) with the finance society at my uni and it was a pretty fun experience, consisting of buy and sell side trading simultations. It helped me to understand market making and how the buy and sell side interact in that regard. Its obvious the main purpose of this is to convince ppl to join the summer 'internship' which i believe is £1-2k. I would say its just a more in depth extension of the Accelerator program and i would consider it more of a training program. I think it would certaining improve your understanding of the industry and could make you more knowledgable about the industry but im not sure of the value beyond that. They say they have good relationships with the banks to recommend good performers but i cant comment on that. Certainly for the price I couldnt justify it personally.
Lmao I also did that shit because I was naive and my society organised it.
Biggest waste of my time. You learn absolutely NOTHING you literally just try to tell people to give you a price below the one that appears in the screen (incredible trading experience huh). Then there's always that kid who was lucky and had a fictitious x % return and he will go post it on his LinkedIn and say how he "outperformed" and "learned a lot".
I was so disappointed that 10 mins in I decided to give all my (virtual) money away by selling for a £0 price and then left.
It's kinda weird seeing wso unanimously agreeing it's nothing but a scam. They told me they partnered with Morgan Stanley and had like 15 hires into Morgan Stanley. Ngl I was going to enroll in their programme just because of the networking/cover letter assist, as I'm too clueless to recruit on my own. Idk if I will enroll after seeing these comments
I was going to enroll in their programme because someone from my university (semi-target) did it and went to Morgan Stanley S&T. They've partnered with MS and even had other 'interns' in JPM and GS. These responses are setting me off tbh. Anyone has an opinion as of 2022??
Avoid big time - the employees seem very obnoxious and you would be better off networking on your own and starting to come up with trade ideas and trade them. Shoot me a message if u want some advice on MS S&T.
Seconded on their pushy employees. They reach out to finance societies to organise events but become rude when you don’t do/post what they want
Can I pm you in re to MS S&T? Thanks
SCAMMMMMM - literally stay away
Don't pay for the training and internship. But they do have partnership with BB like Morgan Stanley's diversity program. And they use its trading simulation to fast-track ppl to superday. Only attend if it is an company sponsored event, otherwise don't.
Have a friend at MS in Asia. Don't trust the guys, felt like they're pushing internal relationships too far. Can't comment on the actual resources
Don’t pay for an internship
They do insight days for free - I went to one of these prior to starting my bsc. Ngl was actually really interesting and insightful and did provide something to write about in a cover letter as an EC / inspiration for insight days / pre uni programmes eg steps to success w CS or Rothschild 2 week programme. Once in university however, avoid like the plague - not worth it at all. You are better off doing the modelling courses and buying the interview prep courses from a CFI / WSO / WSP provider.
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