Incoming SA At top US EB in London Wanting to start FT at top 3 BB (Disinterested in finance exit opps)
Incoming SA at a pjt/evr/pwp type place, however I am not interested in a high finance career in the long term so I would want to start my career ft at a gs/ms/jp as I feel it would better position me for the political career I am aiming for. I know that nowadays pe exit opps by proportion are pretty much indifferent between all mentioned shops with gs/ms still a bit ahead so please dont turn this thread into a discourse regarding that as I have no interest in high finance long term.
My main query is about how I would actually be able to start ft in 2025 after a 2024 sa at the eb's mentioned. Considering the terrible recruiting market, would recruiting straight for ft after my sa even be plausible considering limited spots? Would deal flow really pick up so much in just a few months that there will be more ft spots? Should I only shoot for off cycles, and if so what would the disadvantage in doing that be(e.g. conversion rate)? Also, say I accept an ft offer for one of the mentioned bb's after already accepting an ft conversion offer from the eb months prior, would reneging here be detrimental to my career?
Thank you!
Based on the most helpful WSO content, here's a breakdown of your situation and some guidance:
Transitioning from EB to BB for Full-Time (FT): Transitioning from an elite boutique (EB) to a top bulge bracket (BB) for a full-time position is not uncommon. The reputation and experience gained from a summer analyst (SA) stint at a top EB like PJT, Evercore, or Perella Weinberg can be quite valuable and can position you well for a full-time role at Goldman Sachs (GS), Morgan Stanley (MS), or J.P. Morgan (JP).
Recruiting Market Considerations: The recruiting market can indeed be challenging, and full-time spots at top BBs are competitive. It's plausible to recruit straight for FT after your SA, but it will depend on the hiring needs of the banks at that time. Deal flow can be unpredictable, but if the market is on an upswing, it could lead to more hiring.
Off-Cycle Recruiting: Off-cycle recruiting can be a strategic move, especially if on-cycle spots are limited. The disadvantage might be that off-cycle roles are often not as structured as on-cycle ones, which could potentially affect the learning experience and networking opportunities.
Conversion Rates: Conversion rates for off-cycle positions can vary and might be lower than on-cycle ones. It's important to perform exceptionally well during the off-cycle internship to increase the chances of receiving a full-time offer.
Reneging on an Offer: Reneging on an accepted FT offer from your EB to join a BB can be detrimental to your reputation in the industry. Finance is a small world, and word gets around. It could burn bridges and potentially affect your future career in finance or politics. It's crucial to handle such situations with professionalism and consider the long-term implications.
Political Career Aspirations: If your ultimate goal is a political career, the brand name and network of a top BB might indeed serve you better. However, consider the value of the skills and experiences you'll gain at an EB, which can also be significant.
In summary, it's essential to weigh the pros and cons of each path, consider the market conditions, and proceed with caution regarding any offers you may accept. Networking and maintaining a good reputation in the industry will be key, regardless of your long-term career aspirations.
Sources: Would a Virtual Summer Analyst Program be Possible?, Would a Virtual Summer Analyst Program be Possible?, Start full-time early after getting a return offer?, All Citi Summer Analysts 2020 receive full time offer
a political career? lol
Yes?
Buddy is Delusionmaxxing. Try at least sound grateful you have landed an SA role in such a tough market.
For politics it's GS / McKinsey or bust sorry
Congrats on pwp
Bump - currently in a very similar position
Okay Rishi Sunak.
I just know you have shit politics.
Shit politics confirmed
No idea why you’re getting shit for this, most IBers end up doing brain dead PE and exchange sludge work for more sludge work so I’m guessing it’s salt…
As mentioned above, Goldman holds a lot of sway, but I wouldn’t discount a lot of the BBs…quite a few people ended up in politics from different firms. I think Sajid Javid was from DB?
He was Chase Manhattan first ;)
and now link to proove: https://www.sajidjavid.com/about-sajid
If we had a crystal ball to answer all those questions, we would not be trolling at this forum…
‘Mentor’
Well - mentor does not mean having a crystal ball. Asking where the market could be in 6 months is like asking where the bitcoin will be in 6months. You will get as many responses / views as there are possibilities…
If you already have a SA position you should simply start networking more with banks you mentioned - GS / JPM or MS. I converted my internships at mid BB to the top 3 American bank purely thanks for networking. Though it was hard - contacted 80 bankers (across 3 institutions), met with 30 and got referrals at the end from 10.
And if you really want to make career in Politics - your network is much more important rather than where you had your first work experience
also - try to learn some humour - my comment was meant to be funny
A political career? Hahaha lmao get those logos aligned, thx
Get back to work associate(pe reject)
Pls add a space before the (
Can anyone answer the reneging question too?
bump, need reneg question answered
Say "please".
Go outside
Yeah sure I'll answer, so if you renege then
Aim for FT but also why not just lateral at 1 year or as an ASO? I understand you want the brand name but ultimately doesn't matter where you spend the first year
Reneging on an EB for a BB is a really bad look also and I would strongly avoid that. It's one thing from LMM to BB/EB, do what's best for you, but BB/EB will definitely have mutual friends/employees and you'd be risking your BB offer
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