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Based on the most helpful WSO content, choosing between GS Korea and DB HK for a Global Markets SA position is indeed a tough decision. Here are some insights that might help you weigh your options:

  • Goldman Sachs Korea:

    • Pros:
    • Prestige: GS is a top-tier firm with a strong global reputation.
    • Personal Attention: Being the only hire might mean more focused training and mentorship.
    • Return Offer Potential: A smaller class size could potentially mean a higher chance of a return offer.
    • Cons:
    • Location Preference: If your heart is set on Hong Kong, starting in Korea might not align with your long-term goals despite the potential for a transfer.
  • Deutsche Bank Hong Kong:

    • Pros:
    • Location: Being in Hong Kong aligns with your desired career location.
    • Compensation: You mentioned the pay is better, which is an important consideration.
    • Culture: If the work culture is indeed better, this could lead to a more enjoyable internship experience.
    • Cons:
    • Return Offer Rates: With more interns, the competition for return offers might be stiffer.

When making your decision, consider the following: - Long-Term Goals: Where do you see yourself in the future, and which option aligns best with that vision? - Networking: Are you willing and able to network effectively to secure a position in HK if you start with GS Korea? - Firm Stability: While not explicitly mentioned in your query, the stability and market position of the firms could be a factor to consider.

Remember, both offers are excellent opportunities, and your success will also depend on your performance during the internship. Good luck!

Sources: Deutsche Bank vs MM SA 2021, Deciding between GS, MS, and JPM, SA Would you pick Point72 or Goldman Sachs?, GS vs. MS London, HK: CS vs HSBC vs BAML (all IBD SA)

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

It is actually possible to get return offer from HK even if you do SA in KR. There is some cases for that. both for S&T and IBD. However if you are perfectly set on becoming a real trader then it would be hard. 

DB, although there are some rumours in the street..I think they still have very solid trading team in HK. You could learn a lot. So unless you don't have clear preference in becoming sales over trader, I'd choose DB

cf)opportunities when you become FIC trader in BB HK, would be incomparably vast compared to opportunities in KR.

 
Most Helpful

What product are you gonna cover? Fixed income? If so hands down DB. Don't be lured by brand name only. I don't work for DB but I have to admit they have one of the strongest fixed income teams on the street. You'll learn a lot more and people will recognize the team. GS Korea not super active, not sure what you'll be doing there, probably helping with structuring on/offshore tax considerations or liaising with onshore clients, or just super flow type trades, which you'd rather be doing out of HK anyway. Also Korea is a satellite office, don't think that'll help you with networking for return offers. 

 

DB hands down 100%. It will be very difficult for you to recruit for full-time with an internship experience in South Korea (which is a complete joke when it comes to both experience and compensation/growth).

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I used to do Asia-Pacific PE (kind of like FoF). Now I do something else but happy to try and answer questions on that stuff.

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