London IB - Do I have a good shot?
Was recently accepted into a target 1 years Masters program in the UK (Oxford/LSE/LBS) and am trying to gauge my chances of success in recruiting next cycle before I pull the trigger on the deposit. I'm personally not familiar with how things work across the pond.
I am coming to the program with a year of experience in a specialized lending arm of a BB NA bank. We underwrite/manage leveraged loans. I have underwritten around $500M of leveraged loans (term loans/unitranche) ranging from 3x-4.5x first-out leverage and up to 8x total facility.
Before the masters program I'll be doing a credit research internship in the fixed income AM group of an insurance company with approximately $100Bn AUM.
Ideally, I'd like to recruit for leveraged finance/DCM internships. Does my profile seem like one that will gain traction in the London IB scene? Also, I'm an illiterate American, no language skills beyond English and basic Spanish.
Yes you’ll be fine - suggest you read this to familiarize yourself with london IB. and don’t just apply for FT roles.
https://www.wallstreetoasis.com/forums/20-most-frequently-asked-questio…
Thanks for the feedback. I'll be aiming for SA at 95% of shops and maybe throw some MM FT roles in there to see what sticks.
Are you not worried about the downtime after the internship? What are you gonna do in the time between finishing SA and beginning full time??? In almost the exact same boat as you btw
So from what I've heard the majority of banks are amenable to starting you FT right after SA ends if theres a need. If not you can also do another internship in the Fall to tie you over to your start date. From speaking with students in my program, many people will use that down time to try out something new like tech/consulting/PE/VC/etc. and see if they like that better.
Correct in most cases you will start full time in January if you are free giving you a 3 month break - either do other internships (off cycles) or go travel.
i would like to second the above about applying for internships - a lot of places will not even consider you for FT roles without a previous banking internship, so it is worth applying to both FT & SA roles to hedge your bets.
You'll be fine man. Start applying and networking early for SA. Don't bother with FT recruiting. Off-cycles can be an option too
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