Dealflow / Return Offer Rates for SA 2023 + Tips to secure a return
Hello, I am an incoming SA at a top MM. I was wondering if anyone could shed some insight on what they think dealflow will be like this upcoming summer (2023) and if banks could potentially lower return offer rates in response to a potential recession, lower dealflow, etc? Of course, I will be working my absolute hardest and putting my best foot forward, but curious anyways to hear what you guys think.
Additionally, curious if anyone had any tips on how I can start preparing for this upcoming summer if at all. Thank you!
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Develop a strong interpersonal relationship with whoever just converted / analyst 2. They know whom matters inside the team and they will definitely have a say in your review given most of the time you will work under their supervision.
Return offers will probs be lower but that’s not something you can control. Crush it and you typically won’t have too much to worry about
Can't speak to dealflow next year, but my best advice on converting your internship is to practice and nail the stuff that most interns get "needs improvement" next to on their mid-summer review:
And the last, my holy grail piece of advice for anyone at any level: BE NICE TO THE ADMINS. They run the fuckin' show.
What about if I will be 20 during the summer internship, and the bars that other SAs or team members go to won't let me in? Any advise?
Just read the room, make your best judgement. I will say definitely in front of senior people at a work event this is a big no no.
If it’s just you and your fellow analysts that works.
A lot of times team drinks are at restaurants that happen to have bars so wouldn't stress too much, also if you're gonna be in NYC a lot of places have started to offer NA beers and cocktails.
Don't underage drink in front of seniors is always good advice--seltzer is your friend fr. Seniors on my team seemed to have a sort of don't ask don't tell policy for drinks for under 21s but honestly I'd just avoid it. Risk/reward is shitty imo, just save it for going to bars with other interns! I was a couple years older than most of the interns in my class and some of the under-21s had fakes they would use to go out. Don't go to 'intern' bars (looking at you, Phebe's) and the likelihood of even getting carded goes way down.
Also (ahem, allegedly) if a bouncer takes your fake, you can often buy it back for like $20 cash in NYC. You didn't hear it from me.
PS some style advice: if you go to a bar after work take off your coat and tie, roll up your sleeves, and unbutton like the top two buttons on your shirt = much more casual
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