This is the situation: have an OC offer from MS IBD (london) and FT offer from MM (london). Considering I have 1.5yrs off internship experience, I am leaning towards FT offer, but converting from OC to FT at MS IBD would be the dream - any updated suggestions?
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bombaclart 1.5 years of internship experience
unc if you can't convert the OC you just need to wrap it up
1.5 years of internship experience? Looks like you are a student from continental Europe. I would say consider taking the FT. Got a friend who is in a similar situation with 1yr of internship experience but it's not even a FT job. It's a SA position at an MM bank in London vs. an OC at Top 3 BB in Europe and he said he would take the SA position as the odds of a conversion would probably be higher. But then it's up to you and what you really want
God this is so untrue for MS. OP, SA converts far worse than OC. Take the OC. As long as this isn't one of the egregiously competitive Groups (Tech, Comms & Media), you have almost a certainty of converting. If you really need extra intel. message a summer analyst with an FT offer in your group, ask them how many AN1's there are, how many Intern's converted and ask them how many OCs the team recruited for an August start.
If Interns Converted + OC's recruited for Aug Start Less than Current AN1 Count (which usually = next cyle's AN1 count),
then conversion is effectively guaranteed, and this is the case for most teams (Aug start is less advantageous because you dont have this level of visibility). This has to be the equation because if the team is recruiting for OC there has to be atleast one spot available (They know that OC's can do the basic maths once they join the teams and wont commit for 6 months if they can calculate there is no space for them to come back). MS also prefers OC's, talent is better on average so that is kept in mind when handing out offers to SA's.
Source: GS / JPM Analyst defecating in the loo, with a flatmate who happens to be a newborn associate at MS - also rejected an MS SA around 3 years ago when learning about the dynamics.
Thanks for correcting me. Is it different in Europe? My friend told me conversion rates for OCs at the BB where he interviewed was very low (something like 20% or something but keep in mind it's in Europe not London)
Don't worry mate, it's probably different in Europe :)
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