Deciding for SA
Out of interest if you join a bank as a summer analyst for their Investment banking division, do you decide which group or are you want to be placed in?
For example if the investment banking division houses specific areas such as industry groups, mergers and acquisitions and corporate finance etc... can you decide to join e.g the industry group over the others or do you do a desk rotation and experience all the areas within investment banking?
Depends on the bank. You could be placed ahead of time, they might ask you, you might have a sell day, or you might be a generalist.
what about JPM? In cazenove they have corporate finance, product groups and MnA. As a summer analyst can you decide or what happens?
Unless you have a contact in a specific group that refers you and then you go through an accelerated process interviewing specifically for that group the internship offer is typically as a generalist. After accepting the offer, you would then network with the groups and maybe have a sell day. HR will ask you to list your preferences, groups will submit a list of kids they like, HR matches them, and your are given a group assignment. Your fate isn't sealed with that group - if you receive an offer at the end of the internship you will probably have some latitude to switch groups within the bank.
Boutiques are more likely to hire you as a true generalist where you could work on deals for any team, but will eventually specialize as you hit your 2nd and 3rd year as an analyst based on what you have worked on most. JMP & GH&F definitely have this model.
Thanks How does the accelerated process work please? Iv tried looking for it but their is a lack of Information on here.
You would be in contact with someone in the bank who holds some sway. They put your name in very early. Like late summer
oh ok, does it have any advantages i.e is it easier?
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