Breaking Into S&T As A Grad With No Summer?

Hi all,

I wanted to get your thoughts on my chances of breaking into Sales & Trading as a recent graduate in the uk, given that I don’t have any direct S&T internship experience. I applied for s&t internships for this summer but didn't pass the interviews. I am now applying for graduate roles.

Last summer, I interned in the Investment Banking Division at a small mid-cap investment bank. While I gained valuable exposure, I realised during the internship that I’m much more interested in the Sales & Trading side of the business.

Although I haven’t completed any formal S&T internships, I recently graduated with an Engineering degree from Oxford, and I have python and SQL skills. I also have done some work experience at a wealth manager that where I got to shadow a few execution desks where they buy/sell stocks on behalf of HNW clients, but my main role was in software development. The wealth manager is a subsidiary of an investment bank in London so I got to do a week shadowing traders on Equities and ETF desks. 

Any advice or insight as to whether I have a shot would be really appreciated. Im unsure as to whether these spots will go to people who have full summer internships in s&t and i need to be realistic. It would also be useful to hear how to stand out without a formal s&t internship, if i were lucky enough to get a superday

8 Comments
 

Breaking into Sales & Trading (S&T) without a formal internship is challenging but not impossible, especially with your strong academic background and relevant skills. Based on the most helpful WSO content, here’s how you can position yourself effectively:

1. Leverage Your Engineering Degree and Technical Skills

  • Your Oxford engineering degree is a strong signal of analytical ability, which is highly valued in S&T. Highlight your Python and SQL skills, as programming and data analysis are increasingly important in trading roles, especially in electronic trading or quant-focused desks.
  • If possible, showcase any personal projects or trading simulations where you applied these skills. For example, building a trading algorithm or analyzing market data using Python.

2. Emphasize Relevant Experience

  • While you lack a formal S&T internship, your exposure to execution desks and shadowing traders on Equities and ETF desks is valuable. Frame this experience as evidence of your interest and understanding of market dynamics.
  • Your software development role at the wealth manager can also be spun positively. Highlight how it gave you insight into the operational side of trading and how technology supports trading strategies.

3. Network Aggressively

  • Networking is critical for breaking into S&T, especially without a formal internship. Reach out to alumni from Oxford who are in S&T roles, attend industry events, and connect with professionals on LinkedIn.
  • Focus on building relationships with people on desks you’re interested in. Informational interviews can help you learn more about the role and potentially lead to referrals.

4. Target Emerging Markets or Niche Desks

  • As suggested in WSO threads, emerging markets desks or less mainstream areas (e.g., LatAm desks) often have fewer candidates and may value multilingual or technical skills. Your Python and SQL expertise could also make you a strong candidate for quant or electronic trading desks.

5. Prepare for Superdays

  • If you secure a superday, focus on demonstrating your market knowledge, technical skills, and passion for trading. Be ready to discuss:
    • Market trends and recent news.
    • Basic trading concepts (e.g., bond math, option pricing, hedging strategies).
    • Behavioral questions that showcase your ability to handle pressure and work in a fast-paced environment.
  • Practice answering technical questions like, “If rates go up, what happens to bond yields?” or “Explain the Greeks in options trading.”

6. Consider a Master’s in Financial Engineering

  • If you don’t secure a role this cycle, pursuing a Master’s in Financial Engineering or a similar program could significantly boost your chances. Programs at top schools like Columbia or Imperial College London are well-regarded and often have strong placement rates in S&T.

7. Be Persistent and Realistic

  • While it’s true that many S&T spots go to candidates with formal internships, your unique background and skills can help you stand out. Be persistent in your applications and open to starting in related roles (e.g., quant IT, risk management) as a stepping stone.

By combining your technical skills, networking efforts, and market knowledge, you can position yourself as a strong candidate for S&T roles. Good luck!

Sources: How to break into S&T as a graduate?, Advice Needed - Quant to S&T - How to sell my experience?, How to be a good S&T Intern, Conversation with an Equities Sales Trader

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Engineering from Oxford makes u very viable for sellside quant positions/S&T even though you did not have a direct S&T SA. You would at least get a trading support role at a fairly well established MM unless you completely bomb the interviews. Or try risk/any market related MOs at BBs and move up from those u should be fearless u r fking in Oxford Eng mate

 

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