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. 

 
Most Helpful

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. 

 

Eum ea aliquid nulla eos incidunt rem tempore. Quisquam quia voluptas vel deserunt molestias.

Doloremque commodi tempora occaecati commodi labore. Rerum quidem voluptatem repudiandae est illo est id magnam. Et itaque aperiam ea odio ipsum. Est pariatur rerum hic perferendis eos. Ipsa esse adipisci consequatur eaque.

Voluptatem error in molestiae ut. Voluptates iusto exercitationem beatae perspiciatis.

Career Advancement Opportunities

February 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

February 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 11 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

February 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 06 97.7%
  • Lincoln International 04 97.1%

Total Avg Compensation

February 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (81) $263
  • 3rd+ Year Analyst (12) $184
  • Intern/Summer Associate (32) $172
  • 2nd Year Analyst (60) $169
  • 1st Year Analyst (193) $159
  • Intern/Summer Analyst (142) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
numi's picture
numi
98.8
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”