What to do? Incoming SA but I also want to secure a FT position in case I don't get a return offer
European final year student graduating this summer. Will have my SA internship at a BB in London (JPM/MS/BofA), but due to last year's low offer rates, I am wondering if I should also try to secure a FT job at another bank (as a hedge; this is better than going into unemployment if I fail to secure a return offer). Perhaps even at a local European office as I'm fluent in 3 other European languages (also in case that would be easier and less formal). Anything is better than being unemployed.
I guess that it is too late but I will give it a try - What's the best strategy for this? Cold emailing?
Should I say that I will have a SA (and mention the name of the bank)?
Anyone?
Yeah might as well. You have nothing to lose apart from the time it takes to do so. From what I remember all three banks had mixed conversion rates for IBD last year - BofA London pretty high, JPM v low and MS somewhere in between. JPM tend to take on a lot more interns than they have FT places for
Would it be a mistake to mention the name of the SA bank on my CV?
oh not at all imo. like with anything on your CV, you should say the name of the company. it's very normal to have an offer but still be applying elsewhere to explore options - at the end of the day it's still early in your career! if anything, having multiple offers is a signal to employers that you're a good candidate and you can leverage this to your advantage if you end up with competing offers.
if you apply after your summer, just don't go into too much detail about deals you're staffed on (bc of MNPI). good luck with your summer - all great banks to work for!
Pretty sure that even if you convert the internship, you're not going to start immediately right? So you'll spend a period of time unemployed anyway. I would just use that time to recruit at proper firms and not try to scrape something together now at a less than ideal place.
Thanks, in that case I will apply to PE internships and IB FT opps (also MM firms like William Blair / HL etc.)
Congrats on BofA
Congrats on the BofA offer
If you're at JPM: tough luck, they don't have variable internship classes, so in a bad year return rates are going to be low.
If you're at BofA: congratulations, you can relax a bit - just do good work and fingers crossed you get to come back.
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