IBD Questions for Past Summers (NYC)
As the summer approaches, I was hoping some previous summer analysts (in nyc specifically) would take time to provide things they wish they'd known. This really isn't meant to be a "what not to do" list, but more of general advice.
Some questions I'd personally like answered:
How were your hours? I know what to prepare for, but really, what were they. How did it vary from group to group at your bank?
What was the general dress code? If business professional, how many suits did you buy, etc?
Did you end up accepting FT in the group you interned? If so, are you still there?
Future interns: post questions! Ex-Interns: post information!
Also, comments on the current state, vs. whether summers will have jobs, is okay too but not really the focus.
Thanks in advance.
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I was an IBD SA.
I usually arrived at 8:00 am and left around 10-11 p.m. from Monday through Thursday.
On Fridays, I got out fairly "early" like around 6 or 7 p.m.
I did not work on Saturdays, but I was in the office on Sundays for 4 hours, but it was work that would have taken significantly less time for an FT analyst.
The hours really can vary some of my friends were in brutal groups like Healthcare where they were in the office until 3 a.m. sometimes...but they were working actively on a live deal which is cool
It was professional attire. I had 4 suits (2 navy blue, 1 charcoal, 1 gray); 2 pairs of black dress hoses and 1 pair of brown shoes. Belt to match both.
And yeah I'm with the same bank
summered at top 5 BB in IB for my jr yr internship
m-thurs average day get in 915 leave between 11-12 fri 915-9 sat/sun- usually averaged 10 hrs average week was 75-80 hrs +/-10
dress code was business casual
received offer, moved to a diff BB for S&T full time
thanks guys
bateman: why did you go to s&t?
hated pace of banking (too slow and drawn out), lack of predictability in hours and was always more of a market junkie and banking way was too far removed from the markets
M-Th: 10-12/1 F: 10-7/8 Weekend: Avg 10
Weeks were consistenly ~90-100 hrs until credit markets dried up (so above #'s are average). IBD SA (all live deals) and accepted FT offer with same group.
last summer, came in around 9am, half the time i was out by 8 or 9pm... but there were a lot of days when i didnt get out until much later, like 2am or so, and then probably a handful that went until ~5am. i worked pretty much all weekends except for 1 or 2 that i lucked out on... but ymmv as i saw other interns there who were stuck till way later and interns who went home early every day. (i was on coverage side)
Can someone comment on culture? Was it cut-throat between the summers, attempting to have the most face time, or did you all work together, ... etc...
bump.
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What were summers expected to know right on Day 1, and how much wiggle room was there for learning how to do models or putting together pitch books?
And if you could have done 1 thing to prepare yourself better, what would it have been?
At my BB, the summer analysts got along really well; in fact, it is important that you get along with your fellow interns, because believe me the FTs are watching.
Sure we all wanted to be the first to help with a task, but there was no backstabbing at all.
Exams? During training, we had homework, but it was not really checked, and I don't even remember people doing it. Most of what you will learn and retain will be on the job.
Day 1: They don't expect you to know anything. It is more about getting you situated and they may give you reading material in order for you to become more familiar with the group's focus
You will start off helping them gradually with small tasks, and it will progress as the analysts trust you more.
One thing I would do better is just make more an effort to me people in the office on the first day.
I can't speak for other people's experiences.
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