10 Comments
 

It works in London.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

I second the comment above.

In all seriousness though, when it comes to Germany: Connections are everything. Since Germans aren't as open as people in America it would actually be a good thing to email and then cold call the target. It will really set you apart from these MSc Financial Engineering-types who are super awkward. Especially in S&T where you need to be a people's person. Don't forget that you can't turn up unprepared for interviews. My experience is that interviewers in Germany are a lot more demanding than in the UK for example. So know the technical stuff, be social and don't "act as if". Once you're in, in Frankfurt, you're in. And from there it really isn't a long way to Switzerland and London. Fact is that Germans only tend to take on interns if they've been with the firm for more than 6 months. If you do M&A, the hours are long. Longer than in London. My flat mate worked 110+ hours. Pretty insane. That's how I got my first internship. Start out small and work your way up using referrals from your first internship. Referrals are golden.

If you have any questions regarding recruitment in Germany -> PM

AsatarIt works, but London is less nepotistic and more skills based than the US
pretty much, in london you will hardly ever see anyone from a non target break in.

cold emailing is nowhere near as common as in the US. Recruiting is much more CV drop off driven with maybe a recommendation from someone you met at a careers fair (which also only take place at targets).

The system makes sense for the UK tough since there are no universities that are competitive to get into but just not recruited and all universities cost the same, so its not like some bright kid just ends up at a non target cause he cant afford tuition.

Best Response
leveredarb
AsatarIt works, but London is less nepotistic and more skills based than the US
pretty much, in london you will hardly ever see anyone from a non target break in.

cold emailing is nowhere near as common as in the US. Recruiting is much more CV drop off driven with maybe a recommendation from someone you met at a careers fair (which also only take place at targets).

The system makes sense for the UK tough since there are no universities that are competitive to get into but just not recruited and all universities cost the same, so its not like some bright kid just ends up at a non target cause he cant afford tuition.

I think this is true to an extent. But I'd also say that it's very un-British to network like the Americans do, all my peers are often very surprised when I say I cold email. So yes the non-targets aren't going to make it through online apps because it's a very binary recruitment system and due to our reluctance to network they wont get through any other way. I wouldn't say that it's because the UK is less willing to help or that networking is less effective (however I do believe the referral culture hasn’t made it over here yet).

I would also add that you do see on applications specific boxes in which you're to enter the names of contacts at the firm.

On the homogenous uni pricing argument, you're assuming the same level of work ethic / dedication is exhibited by all at that particular age, and those who dont poses it aren't smart or able to contribute.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

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