Hey all,
I'm looking for some insights on how to approach both offers. Any thoughts on the likelihood of converting the internship and potential exits? This is in London btw.
Thanks in advance!
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I could be completely wrong but I think Citi didn't advertise any off cycles for Jan last year so don't know if they will have any openings this year as well.
That being said, BAML (know quite a few off cycles who converted) and Citi (can only talk about their summer which is in line with BAML) are known to have really high conversion rates for their programs in London. I can't tell you much about PWP off cycles but just doing a quick LinkedIn search might give you an idea. And lastly, I think GS conversion rate for asset management off cycles is lowest among the mentioned options. I have talked to quite a few past off cycle interns and they told me that for Credit and REPE, conversion is very hard (20-30% at max).
For the exits, if you are interested in credit, you can't go much wrong with GS credit brand name. This can be followed by BAML and Citi. And I would place PWP at the lowest among these 4 in terms of exits in Europe, but then again their culture is the best among the 4.
Thank you so much for the insight! By Credit do you mean going to a PC fund from GS?
I'm not interested in PC funds at all. My understanding is that distressed / LS HFs and most PE funds wont hire from PC houses, even if it has the "GS" name.
Yes, I meant PC. Special situations and distressed investing might still be an option. But if you are dead set on PE, apply for their corporate PE off cycle (although it's middle market and doesn't come close to their credit brand).
The PE OC rarely converts, think in the past they have converted 1-2 OC out of 10+ over the last 2 years
Happy to provide insight about GS Credit if you pm. Overall strong name, but conversion is very tough, and a lot of times depends more on headcount rather than performance, historically Credit and PE (not RE) have had 20% conversion. BAML do not run OCs in sector teams, likewise Citi, so assuming its GS Credit vs BAML / Citi Product group?
Thanks a lot! Just pm'd
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