Applying for SA as an MSc Student - Thoughts?

Have a few NN IB internships and Big 4 Transactions Group experience - and currently studying for an MSc Finance at a UK semi target (Warwick/Durham/KCL).

Applying for both FT and SA roles (as a ‘safety net’ in case I don’t get FT + some firms don’t even recruit FT such as Greenhill), and was wondering about the SA… does anybody have experience going through recruitment as a final year for this?

My questions are: - How did you approach the immense stress that if you get the SA, you need to convert after the 10 weeks or you are unemployed?

• Did interviewers early on bring up the topic that you were final year, and how did you approach it?

• What percentage of application were FT Vs SA?

Thanks for the insights.