Questions on the Bank of America summer internship (London)
Hey everyone, hope you're all having a good start to the new year.
I'm set to join BofA as an SA this summer, wondering if the internship is generalist or if I should look into networking for groups.
I'm interested in tech/software, but I understand that BofA TMT mostly does telecom in London (please correct if I'm wrong). My next choice was NRG (Natural Resources Group) as I would be interested in eventually working on something in the renewables space.
My questions:
1. Any thoughts on these groups?
2. Should I be networking with analysts between now and June? Or do they just expect not to hear from us till we start training.
Thank you.
I can't comment on #1, but for #2 - no need to reach out to analysts until you start training. In London networking is not necessary before you start, but once you do make sure you set up coffee chats etc.
LOL good luck in the BoA natural resources team, awfully sweaty culture looking at how my interview with an associate from that group went.
Information as of SA22 but friends of mine would be in a pool system for first ~4 weeks (across all teams), then focus on ~2 teams for latter part. Believe return offers were team specific however.
Hopefully someone can confirm
Summer works as follows. You do 2 weeks of training and then get 8 weeks of work. You get assigned a staffer and they’ll ask you for your preferences at the start of the internship and then will assign work to you based on those preferences. Worth noting that your CV gets passed around the teams and so you often end up getting contacted directly by teams that want to work with you but this doesn’t happen until week 4 or so for fairness.
Regarding TMT, this is obviously one of the most popular teams targeted by interns. They do mostly telecoms and are known to have a very sweaty culture / work a lot of hours. NRG also known to be sweaty. Healthcare considered the team to go to for ‘culture’ and lightest hours worker. Friend of mine in the team goes out for team drinks every Thursday.
Regarding networking, I’d encourage reaching out a couple of weeks before you start so that you get on people’s radars. You also get a buddy and once you’ve met them, they’ll often be happy to put you in contact with people. Don’t reach out to people above the analyst level. During the training, you want to get as many coffee chats as possible. The relationships you make here can be very helpful in securing work from the teams you want to work with.
Conversion rate was 100% last summer but would assume a lower rate this summer given market conditions.
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