BoFa SA London

Hello everyone,

I'm trying to understand more how the SA in London will work this summer, I've read on other threads that it is going to be generalist but how can you possibly see all product teams in just 10 weeks, same goes for coverage.

Do you also get to choose during or after your internship where you'll want to go for FT?

Can someone also please shed some light on their M&A team as I've not quite grasped if it's a good team or if I'd be better off choosing a specific sector that, from what I understood, will still allow me to work mostly on M&A deals.

Overall any advice on which sector/product to choose from?

Any insight on the start date would also be greatly appreciated.

Thanks!

Comments (17)

  • Intern in IB - Gen
Jan 20, 2022 - 4:06am

From what I know m&a prefer more experienced/older people; uk team and fsg might be more attainable alternatives.

Most Helpful
  • Associate 1 in IB-M&A
Jan 22, 2022 - 4:44pm

Can shed some light on this based on a close friend from last year, however, not sure if this year the internship is still planned to be virtual.

You get hired as a generalist, the contract/offer doesn't state a specific team. Closer to the start of the internship, HR will reach out to you and ask for your group preferences. Based on your background, team headcount and personal interest you get allocated to a specific team with which you're spending the entire summer. Networking is definitely encouraged and will help you get into the team of your choice. The first three weeks of the internship consist of trainings (~1 week senior speakers, ~2 weeks actual training with other IB interns, additional technology set-up). The M&A group is by far the most popular team amongst interns, I heard that usually roughly 80-90% have the M&A group as the top choice. Hence, M&A is really selective and they tend to pick interns from strong Master programs (LSE, LBS, HEC, HSG, Oxford). They usually have 5ish interns. LevFin is still a rather small team given BofA's large and strong LevFin presence in the US and only take 2-3 interns. Industrials and Healthcare teams are also popular, and in my opinion relatively strong. That being said, not really familiar with specific industry groups.

  • Prospect in IB-M&A
Jan 25, 2022 - 5:38pm

Thank you very useful so let me get this straight. 

M&A/Lev Fin/Industrials/Healthcare are all different teams? I can't choose to do for example Industrial M&A right? If I choose M&A I will do M&A for all the sectors and if I choose Industrials I will do what exaclty? M&A/ECM/DCM/LevFin and kinda see all the different products or just some of them? Because if I remember correctly they had a different application for capital markets

  • Associate 1 in IB-M&A
Jan 26, 2022 - 11:42am

You're right, there are product groups (M&A, LevFin, ECM, DCM) that work across industries but only on the specific type of deal, whereas industry groups (Industrials, Healthcare etc.) focus on one industry only but do M&A, IPOs and everything else. On most deals you have people from both teams, for example on an M&A healthcare deal you'll have both product and industry coverage banker. Product groups are usually more focused on the modelling and execution, whereas industry groups have a more profound knowledge of the specific industry dynamics and players.

Capital markets are separate from investment banking. 

Jan 25, 2022 - 8:05am
Her Majesty's Top-Line, what's your opinion? Comment below:

Start date is usually early/mid june for around 10 weeks and in 95% of cases you will stay with the team you interned with if you get a return offer (and usually one doesnt have to worry much about bofa return offers)

  • Prospect in IB-M&A
Jan 25, 2022 - 5:39pm

Are you sure it's early/mid June? I always heard people saying it was mid/late June so that you would finish the internship by the end of august and not at the beginning

  • Associate 1 in IB-M&A
Jan 26, 2022 - 11:45am

You usually finish mid-August.

  • Analyst 2 in IB - Gen
Jan 25, 2022 - 8:39am

At the firm. We also do not know what is going to happen but if things stay as they are (e.g. people being in the office), it will be in a generalist pool in-office.

You will get a staffer during your summer and will work with 2-5 teams. At the end of the internship, you will have to put down your top three choices. Frankly, by the end of the internship, for most people that get an offer, it is pretty clear which group you will end up in as, by the end, you will mostly work with that team.

  • Prospect in IB-M&A
Jan 25, 2022 - 5:42pm

2-5 coverage teams you mean right? And again you will kinda do everything covering M&A/ECM/DCM/LevFin or just some of these "products", I guess you cannot choose which 2-5 teams you get staffed on right? And if I get an offer do I have the possibility to switch to another team if i change my mind? Do you have some recommendations on which teams are the strongest/better in culture/learning experience?

  • Prospect in IB-M&A
Mar 5, 2022 - 6:37pm

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