Looking for info on UK IB/PE placements, any help appreciated!
Hello fellow monkeys.
I'm wanting to learn more about industry placements in the UK, and how they tend to work in IB/PE.
Specifically, I'm looking for info on:
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The stages of application i.e. CV+Cover Letter, HV, AC, etc. (and what sort of technicals one is asked).
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What time of year that the industry placements tend to open?
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How they are in terms of competition? (as many big/target universities don't allow placements).
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What sort of firms tend to offer in IB (& PE if you know)? So far I understand a lot of the BBs, but unsure if all + any other firms offer.
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Compensation (i.e. heard Lazard offer significantly lower - £27k). I was wondering if bonuses are paid to placement students too, or just regular base.
Ultimately, trying to answer the question of if it's something to consider for me (a semi-target student) to pursue in hopes of breaking into the industry.
Appreciate any/all insights, thank you!!
There aren't many actual IBD placements. Lazard is one of a few, they're mostly at boutiques. Many of the BBs only have non-IBD placements, I don't know why.
Comp can be lower. At the BBs they'll pay you normally (at least that was the case pre-raises) but some other firms will absolutely take advantage of you. Usually though, regardless, the comp is normally better than a typical placement year (which can be pretty low).
No bonus usually.
They open around the same time as summers. And continue to open well into midway through the following year. Nowhere near as structured as summers because as I said, many firms offering these placements are boutiques.
Placements are easier to secure than internships. Firms that offer them require you to be studying a degree which includes a placement year.While the stages are the same for IPs i.e., Tests, HV etc. the competition isn't as bad as springs/summers (a quick browse on Linkedin will prove this)For IB: UBS and Lazard are the main ones. Professional services firms such as BDO and RSM do offer M&A placements.For PE: Livingbridge has a research placementAt the end of the day, there isn't much IB/PE placements, but there are others like the Big 4 TS or Audit, GS PWM, Alvarez and Marsal RX, HSBC FX Research, Kroll RX, JPM Economic Research etc.If you'd like more info, more than happy to talk over PM
Thank you for confirming!
I was wondering, is there any possible chance to convert it (as a summer analyst would convert to FT offer) - or, would someone undertaking a placement basically then have to reapply in their final year?
Also, as it is significantly longer than a summer internship typically is, do people end up pigeonholing yourself into one industry (if they don't do IB/PE)?
Thanks in advance.
Generally yes, but it's dependent on the firm. I would advise you still apply to summers incase you don't convert it.During your placement you're in your penultimate year, so you're still eligible for summers.No you wont pigeonhole yourself, again Linkedin would prove this to you, there's plenty of examples of ppl doing big 4 placement and then doing IB SA the following summer.
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