Hello,
Continental European from low-semi/non target, I will be interning this spring at a BB in London. My goal for the spring week is to convert it into SA position.
--> Is there any essential information that I should be aware of?
I know roughly the conversion rate and other basic info
--> What could I do now (two months ahead) to maximize my chances of convertion?
I've started to prepare for fit, technicals and networked a bit
Load of thanks in advance
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Ahoy there! First off, congratulations on snagging that spring internship at a BB in London! That's no small feat, especially coming from a low-semi/non-target school. You're already on a promising path, and it's great to see you're proactive about converting this opportunity into a Summer Analyst (SA) position. Let's dive into some golden nuggets of advice to help you maximize your chances of conversion.
Essential Information to Be Aware Of:
Conversion Rates: You mentioned you're aware of the conversion rates, which is great. Keep in mind, though, that these can vary significantly between banks and even year to year. For example, at Lazard, the conversion rate has been 100% for the past two years, with them not even opening up SA applications as the spring filled it entirely. At Jeffries, only 2 spots in the SA weren’t filled by spring week interns. This highlights the importance of performing well during your spring week.
Expectations: Understand that a large portion of BB summer analyst positions (sometimes 80%+) go to people who converted from spring weeks. This means the competition is stiff, but also that the opportunity is real and achievable.
Maximizing Your Chances of Conversion:
Deep Dive into Technicals: While you've started preparing for technicals, consider focusing on areas that are particularly relevant to the London market. The BIWS 400 questions and the Rosenbaum IB book are heavily used in the USA, but their technical aspects are also relevant for London. However, BB interviews in London tend to be easier for technicals compared to EB interviews, as the focus is more on behaviorals. Still, a solid understanding of the basics is crucial.
Enhance Your Behavioral Prep: London BBs and EBs place a significant emphasis on behavioral/motivational/cultural-fit aspects of an applicant. This means you should be ready to articulate your motivation for investment banking, why you're interested in that specific BB, and how your background and experiences make you a good fit for their culture.
Networking: You've started networking, which is fantastic. Try to deepen those connections. Seek out individuals who have successfully converted their spring weeks into SAs and ask for advice. Also, try to connect with team members you'll be working with during your spring week to get a sense of the team dynamics and projects you might be involved in.
Show Initiative: During your spring week, be proactive. Ask insightful questions, show enthusiasm for the work, and take the initiative to learn as much as you can. Your attitude and eagerness to contribute can set you apart.
Feedback: Seek out feedback during and after your spring week. This shows your willingness to learn and improve, qualities that are highly valued.
Remember, the key is to blend technical knowledge with strong interpersonal skills and a genuine interest in the bank and its culture. Best of luck, and here's to hoping you'll be swinging from the branches of success come summer!
Sources: (London) So you didn’t get any spring weeks, here’s what you need to do:, What to Focus on in London BB and EB Summer Internship Applications?, London IB Summer Internship Discussion 2018, Advice for London applicants, London - failed to convert spring- next steps/advice?
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Sorry to sound like a noob but what does 'R&P' mean?
Joshua Pearl and Joshua Rosenbaum's book
Thanks a lot for the answer
It's a Spring, you don't need to do anything. Just go, be attentive, be proactive, be personable.
Don't come off as a hardo during it.
Hi, I'm a high school student from Continental Europe. I plan to study at a semi-target university in Continental Europe. Would you mind if I sent you a private message to ask how you managed to get an offer for Spring Weeks at BB in London (when you have some free time ofc)?
Congrats and good luck! Thanks in Advance!
Hey, sure my friend
Some basic stuff such as showing up on time to every meeting, taking notes, asking relevant questions to the relevant person, showing enthusiasm, respecting and helping your fellow spring participants (don't talk shit behind's people back), and reading the FT will already put you in a good position. Rest is performing well during group work/interviews or whatever tasks you have to do.
It's really not that hard to convert if the bank offers this possibility.
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