BAML S&T or JPM Trading?
I have S&T internship offers from BofA and JPM for 2025.
I want to do trading and both programs have trading (JPM is just rotations in trading and BofA has rotations in both Sales and Trading). Any advice on which one to pick or what to consider before making a decision?
JPM is stronger in almost every regard. Unless your super interested in Sales, I’d go with JPM
Incorrect
JP is better both reputation wise and S&T wise. JP is all round among the best markets desks especially in London.
If you want to do trading then you should be looking at prop firms. Bank trading is not what you think it is.
Prop tougher to land. If you want to become an RV trader down the line doesn’t it seem most of those people come from sellside?
No. Prop hires are trained exactly in this so why they are more valuable in the eyes of hedge funds.
Would you want to hire someone with exact experience doing RV trading or some sell side salesperson who can talk brilliantly about how to do it but with no first hand knowledge?
Wouldn’t a sellside trader still structure RV trades + you get the experience of seeing large flows if your at a big bank? Sure, prop your not restricted to balance sheet regs so you can take more sophisticated positions on the curve, but wouldn’t this not really matter if your joining as an analyst?
Also, I go to a prop target, and seems like 90% of people get put on market making desks and few I’ve seen actually trade macro-RV. Also, have not seen many from prop at multimanager HFs or macro funds. Among the FICC heavy prop firms, DRW FICC guys have 0 incentive to leave. But why aren’t there no guys from TMG type shops over sellside in analyst roles?
Congrats! Are you diversity? Asking bc curious about timelines for non-div. Any input on that?
yeah I'm diversity but afaik BofA started giving out interviews in early March and JPM started giving out interviews for non-diversity mid-March, like last week. I know goldman will have its non-diversity super days mid-April. This is all for S&T tho idk bt IB
Is this real? Different interview groups based upon race? When did they bring back Jim Crow Segregation type policies? Southern Dixiecrats must be celebrating this in their graves.
sorry just to clarify, BofA started giving out diversity S&T interviews early march and non-diversity hasnt started yet? - im non-diversity and havent heard anything yet..
Either is good. If you are certain you want to do trading, go for JPM, although I think rotational programmes in things like Global Markets is always a plus.
JPM. It's not difficult to go from trading --> sales post-FT.
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