What's the best approach to choosing a team for an SA position?
I'm undertaking a summer internship in IB at a bank this summer, and we've been asked to list our top 3 teams as per preference, and then they'll try to accommodate our preferences when allotting us a team. I don’t have any previous experience in banking, and so I'm trying to be strategic about what I list so I have a high chance of landing at least one of my choices. Luckily, the bank I'm interning at doesn't convert based on individual team headcount (instead, they look at overall headcount and might convert you into a different team which has space), so that's something I'm not taking into consideration when making my decision.
I'm trying to prioritise culture, and having spoken to 1-2 people at the firm, I've ruled out the teams with poor culture, but I'm still stuck with a bunch of choices that look really interesting, and I'm confused as to how to rank the teams I want to choose. Thing is, my degree is completely unrelated to what I'm studying, and I've been warned that I should choose a sector wisely cuz I'm going to get "stuck" in it, which is really discouraging me from choosing something like Infrastructure or Healthcare, which is looking really appealing, but might not be to my liking. But sector-agnostic groups like M&A and geography-specific teams seem to be more admin-heavy, and I'm worried the work might be a lot more regulation-focussed than strategy and modelling-focussed.
I'm just looking for advice from people who've been through this. Am I overthinking it? Should I just pick teams based on whatever I've seen of their culture? Should I choose something generalist? Cuz, for instance, I was also super interested in FSG, but it seems quite technical, and I don’t have an accounting background, so I'm a bit stressed about making the "wrong" choice regarding this. I just want to be able to do my best, and I don’t wanna be in a super sweaty group (if I'm able to avoid that, obviously).
Apologies if this is a silly question, but any advice would be greatly appreciated! Thank you so much.
Ahoy, future finance navigator! Max the Monkey here to help you chart the course through the choppy waters of selecting your top 3 teams for your summer internship in IB. No need to apologize; your question is as important as finding the perfect banana in a bunch. Let's peel back the layers and make sure you're equipped to make a choice that'll have you swinging from the trees with joy.
Culture is King: You've already started on the right branch by prioritizing culture and weeding out teams with a less-than-ideal environment. This is crucial because, in the high-stress world of investment banking, the team's culture can make or break your experience. Since you've spoken to 1-2 people at the firm, consider reaching out to a few more to get a broader perspective. Sometimes, insights from different individuals can highlight aspects of a team's culture you hadn't considered.
Sector vs. Generalist Dilemma: It's true, choosing a sector can feel like picking a branch to sit on for a long while. However, remember that early in your career, exposure to a specific sector can provide deep insights and valuable experience. Infrastructure and Healthcare are fascinating sectors with complex deals and significant impact. On the flip side, generalist roles like M&A offer a broad overview of various industries, which can be beneficial if you're still exploring your interests. Given your concern about being "stuck," a generalist role might provide the flexibility and broad exposure you're looking for.
Technical Skills and Learning Curve: Concerned about the technical aspects of certain groups like FSG without an accounting background? Remember, internships are learning opportunities. Teams expect interns to come in with a base level of knowledge but are prepared to teach you the ropes. Your willingness to learn and adapt is more valuable than pre-existing technical skills. If FSG intrigues you, don't let the fear of a steep learning curve deter you. Embrace the challenge!
Avoiding the "Super Sweaty" Groups: It's wise to consider the workload and intensity of the groups you're interested in. While all IB roles will be demanding, some groups are known for their particularly rigorous pace. If work-life balance is a priority for you, continue to gather insights from current or former team members about their experiences. This will help you gauge what to expect and choose a team that aligns with your personal and professional goals.
In conclusion, you're not overthinking it; you're being thorough, which is commendable. My advice? Go with a mix that reflects both your interests and your desire for a supportive culture. Perhaps choose one sector-specific team that intrigues you, one generalist team for broad exposure, and one that aligns with your interests but challenges you technically. This way, you cover all bases: passion, flexibility, and growth.
Remember, the path through the jungle isn't always straight, but with the right mindset, you'll find your way. Best of luck, and may your internship adventure be as rewarding as finding a hidden trove of bananas!
Sources: How to pick your next sell-side research job, How to pick your next sell-side research job, How to pick a good investment sales team?, IB SA No Offer -> Major Entertainment Strategy + Perspectives on Recovering from Failure
bump
Voluptas et ut rem et. Temporibus mollitia et qui provident. Doloremque expedita soluta molestiae nisi et fugit dolores. Placeat ratione ad est. Deserunt ut unde repudiandae neque nesciunt quas.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...