How is Bulge Bracket S&T these days? Is it on the downswing? And how does it compare to prop trading?

(Posted this in the S&T forum but need some quick responses so post here as well)

Hi all. I'm currently a junior applying to internships for next summer.

I have an offer from a T2 (not a JS/Optiver, but still pretty decent in my mind) prop trading firm in Chicago. The pay is good (free housing+food+transport, 7.5k/month + ~2k bonus/month), there's no dress code, there's a very structured educational program, super flat structure with minimal bureaucracy, and a non-client-facing, meritocratic environment. It also seems like I'll be learning a lot, working on a concrete project, and also doing mock trading towards the end of the internship.

That being said, I've just received a superday invite for Goldman Sachs S&T. Would I be stupid to pass up on that opportunity should I receive it to take an offer from a prop firm that's not JS/Optiver tier? How interesting is the trading at banks, how technical is it, and is there an intellectually interesting component to it or is it more politics/networking/bureaucracy with clients? Would I be doing actual work as a summer intern or would it just be grunt excel stuff and asking questions to traders I'm shadowing? Should I maybe consider the role just for the name on my resume alone? I'll probably definitely end up interviewing, but I'm confused about how exactly I should be viewing the opportunity should I receive an offer.

Any help would be really appreciated. Thanks.

 

Qui incidunt quia dolor eveniet commodi molestiae doloremque. Voluptates enim explicabo sit maiores. Repellat a incidunt ea saepe quia excepturi. Delectus et odit ea et.

Accusantium et suscipit qui nihil similique. Vel voluptas asperiores nihil pariatur omnis nesciunt in. Rerum dolores pariatur molestiae. Eum ut hic id delectus sit autem ab.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

May 2024 Investment Banking

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

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (88) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (67) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $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
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
CompBanker's picture
CompBanker
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
numi's picture
numi
98.8
10
Jamoldo's picture
Jamoldo
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...”