I'm looking to get an internship abroad in Sydney, Australia for the Spring 2008 semester. Does anyone know how I can go about getting one of these at a reputable firm like a BB. I know some websites like study-australia.com have programs for this but I'm not really sure how good the companies are that they have internships available for. Thanks
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Apply directly on the website. Every intern at BBs in Australia does that. There's none of this campus recruiting or target school business.
Eh? Sure there is. All the BBs (inc MacBank) visit the top unis (ie Melb, Syd, UNSW etc) for meet and greets etc. You are correct though, all the application is done on the website. I'm not quite sure what you mean by 'target school', but the IBs realistically only recruit from the top 5 unis.
Its kinda annoying if you don't live in Sydney though. With the exception of Goldman Sachs JBWere (based in Melb), the IB world seems to revolve around that city in Aus.
Its pretty competitive, each firm only has around 6-7 places.
I looked at most of the BB sites for applying online and none of them have any opportunities listed for the Spring semester, the internships are usually just for Australia's Summer which is like December to February. Interning at Macquarie Bank would be ideal but they have the same dates as BB's for internships. Is there a way to find out if they have any available internships that they dont advertise online for.
non-Australians can't apply for the normal BB summer associate positions...gotta have permanent residency.
my buddy is an int'l student down there and it's screwing his chances for a BB offer in either USA or Australia because of that. he also can't find internships in his 'summer' from dec to march in the usa and is in school during the usa summer. i don't understand why australia has it's uni from july to november and march to end of june...?
Southern Hemisphere = reversal of the seasons. We sure aren't going to study november through march because that's summer.
Well...put it this way. If you did, a few of the Australian guys/gals could do internships in places other than bloody Australia... wouldn't that be nice. My concern is that all the foreign kids get screwed, especially now with the enormous and unfair fees uni's are charging. It's bullshit how Sydney can charge 24 K AUD for one year of education now... The teaching sucks, everyone cheats on homework, quizzes, papers, assignment (anything except exams) and there are way too many Chinese kids who can't speak or write well in English.
The Oz uni's, esp. Sydney, need to get their shit together.
and if he wants to transfer back to the usa he said the grading system is way harder down there so he'd come back with a credit avg or like a 3.00... He's screwed.
The best way to Sydney as an American would be a transfer from your BB here in USA to the same BB in Oz' in my opinion.
I have a friend about to start work at Lazard in Sydney. Is the experience there similar to in the US?
Any insight on Lazard- Sydney would be appreciated
as someone said already you need to have permanent residency to work at any of the banks in Aus. Lazard is boutique in Aus, I think they mainly do smaller deals advising on m&a. so lazard in Aus i'd say is a lot less prestigious than it is in USA
Lazard is really small in Australia...
Well yea they visit the top unis, but I think that's different to how it's done in the US. I get this feeling that, in the US, they recruit on campus. Here, it's meet and greet. They don't remember you... at least I don't remember any student when I go. Those campus events are useless. Most people in my year pretty much didn't go.
Realistically speaking, they only recruit from Syd/UNSW/Melb/Monash. But I've also seen a few from Adelaide/Qld/ANU and the very rare, occassional person from UWA, but I don't think any of these schools are specifically acknowledged like in the US.
Re Melbourne, apart from GSJBW, a lot of other banks have a strong presence and good dealflow per capital too. Obviously Macq and UBS have good deal flow. But also DB, Citi and JPM are strong in Melb. A lot of companies are headquatered in Melbourne, including Coles (although admittedly it is done by DB Sydney since the consumer team is up there, but nevertheless it's run by the Carnegie Wylie in Melb). If Rio Tinto is any interest to you with the recent speculation, it is headquatered in Melb. So is BHP.
As far as intake, Sydney tends to take around 6-8, while Melb takes 3-5 depending on which bank. Macquarie takes 1,000,000 interns so don't worry about that.
From experience, it's always the same people who will get the interviews and ultimately offers though.
For the OP, are you talking about Australia's spring? There's no in take there as far as I know. You can try a winternship, which happens in late June to July... a few banks have done it before (though not officially).
Time go go home and have a good sleep this wkend.
Fact:
If you aren't in Honours Finance (and happen to be doing a Finance major) then you're fucked.
My advice to anyone wanting to do IB in Oz' is to ace Corporate Finance 1 with a High Distinction... you will get Honours Finance and you have a good shot at an internship with conversion to FT offer.
If you think you're goin to get a high credit in FINC 2001 at most uni's, and also get into Finance Honours, and somehow manage to get an internship through networking at FMAA luncheons and what not, then you're sorely mistaken.
i know this shit because I graduated from U sydney with a double degree in 05. I love Ausralia but am back in Emerica for job reasons.
i think highish distinction range marks in finance subjects should be good enough to secure an interview if you have really good finance related work exp. then depends on the vibe and some luck on the super day..
i agree with sashimi on that one.
it's not easy to get high-ish distinction grades in most finance courses.
i, for one, will say that at my uni, sydney, the finance faculty are a bunch of idiots and getting a good grade is difficult because the teaching is very poor.
it's a bell curve and there're always enough people who get high distinctions and are placed on prize lists, who get recruited into the industry.
finance honours is not all that necessary if you have a double degree.
i know a couple friends who dropped fins honours cos after the summer internship the banks couldn't wait to get them started in the pe wave haha
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