My situation: second last year of uni (not in US) and received a few BB SA offers in IBD and S&T; going to take a S&T one as I had done an internship last summer in IBD. It's going to start in around 5 months.
How should I prepare for it? I had asked one of the BB reps about this and they had told me to follow the markets and do what I've been doing already. I don't think that's enough. Are there any books to read or ANYTHING I could do to improve my chances of landing a FT offer? Anyone in the industry - please feel free to PM me. Cheers.
Are you f**king kidding me? My advice is you should get a life. It is your second last year and you already did an IBD internship last summer. That means you did that in your freshman summer. You did an internship before and you don't know how you should prepare for your next internship??
There's no reason why you can't have a life and prepare for an upcoming internship. The two aren't mutually exclusive.
@ OP, which S&T desks will you be rotating round?
I was told that in the next few months I will be going back to the office to meet a few more faces and discuss my preferences. I am leaning towards cash/derivative equities and commodities, but there are obviously other candidates so they'll try to fit our preferences with available slots. Any advice?
First of all, I'm doing a 5-year degree (not in US), so I've had more than enough time to get a life. I reckon I got these roles because I did 'have a life'. I didn't have the grades to be close to valedictorian or whatever, but I did do reasonably well. Lastly, an internship in IBD is different to one in S&T, which is why I chose it. Grab a tissue mate, you sound bitter.
How did you land your job?
I'm assuming you mean just getting the offer once given the invitation to attend the interviews. Just follow the markets (and have an opinion on them, both at a macro and micro level), know the company and the division, follow deals (if IBD, not S&T), and just show them that you'd be pretty interesting and fun to work with. Believe me, they want people, not robots, to work alongside them during the day.
No, I was surprised and was trying to reconcile as to how you got by with the technicals (or was there none?) since you asked how should you prepare for your internship.
More curiously, how are you given a choice between equities cash/derivatives and commodities when these two obviously belong to two different departments?
Are you Interning in AUS?
NM
Shake, I am. You too? PM me if you want to discuss anything about it. Cheers.
Seeing as my SA in S&T is winding down right now I think I have a few decent pointers. Sit and shadow everyone on your desk. Ask good questions that you have given some thought to. People love talking about themselves and their career path. Get good at navigating excel and how to use the bloomberg plugins (google if you're unfamiliar) to put together analysis. Other than this there is no real value you can add... oh, and don't mess up the breakfast or lunch orders.
Thanks for that CatsLHP. I'll definitely take that on board. Did you try to shadow them during their downtime (if there's such a thing), or even when they were active with orders? Also, any books I could read that might help me? Besides my textbooks and a couple of other books, I haven't read that many. Cheers.
Brown Bateman: Not necessarily, last year at my bank they got rid of the rotation scheme that they used to have in previous yrs. Instead of allowing several rotations to different desks over the summer, they set aside only 1-2 days to allow interns to shadow other groups for a few hrs.
x
nvm - my bad
Yep the IB I'll be interning at has the rotation system, which I reckon is a pretty good idea.
edtkh: Mate, don't get me wrong, I had heaps of technicals and I did pretty well in the interviews, especially with the IB that I'm choosing. I came into the interviews after reviewing various textbooks, including my CFA ones as well.
Brown_Bateman: Thanks for the input. I've done a subject in uni based on Hull's book, but will definitely get the book back off my friend to revisit the Greeks. I'll also do a few searches on volatility strategies to see if there are any more complex strategies to explore.
Cheers
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