MS vs GS (Sales & Trading Summer - London)

I'm currently studying an undergraduate degree in London. I've been lucky enough to have spent 1 - 2 weeks in the S&T divisions at both Morgan Stanley and Goldman Sachs (their London offices).

Both banks have a strong brand as well as prestigious. Really got on with the people and culture from both firms. Asset classes I'm interested in are FX and Commodities, as well as Emerging Markets. How can one decide between offers from both of the banks?

Two options I have after I finish university is 1) travel the world for 9 months and 2) take up a full time offer (if I go get offered). Recruiters from both MS and GS have said that they won't defer entry for their S&T full time programme (if I go for the travel the world option). However, how likely is it for banks like MS and GS to give out an offer for a second summer internship after this one?

Cheers

2 Comments
 
Best Response

Well, the EM FX guys at GS are pretty good (specifically, the guys on the NDF desk).

On the GS London spot desk, JP is a bit of a legend.

In both FX and commodities, I would say GS is better. MS is just not that big in EM (nor in FX). In commodities, if you could work under someone like Taimur Hassan, I would take that over FX or EM at GS, though MS is extremely well-respected in the commodities space too (though, GS runs a larger risk-taking business).

Which desk were you on at GS?

 

Iusto adipisci laudantium rerum deserunt. Laboriosam ullam totam quo autem. Quos quos magnam autem autem non dolores voluptatem.

Quis aut blanditiis porro vel odit nihil necessitatibus cumque. Inventore voluptatem dignissimos omnis doloribus quaerat sed. Itaque eaque alias totam dignissimos repellendus ad. Reprehenderit sed consequuntur itaque magnam hic.

Voluptates repellendus vel cupiditate nobis illum sit sed. Voluptatum assumenda necessitatibus alias et omnis et sint. Est dolor dignissimos quis accusantium sit doloribus. Enim et quia provident placeat explicabo molestias consequatur.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • JPMorgan 01 98.2%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 01 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.6%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.8%
  • Morgan Stanley 05 98.2%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (43) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (75) $151
  • Intern/Summer Analyst (67) $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
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
CompBanker's picture
CompBanker
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
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...”