How do S&T Desk Rotations/Placements Work?
Was fortunate enough to receive an offer from a BB S&T Desk (think MS/GS) and want to pursue the sales side of it. My question is tho - how are the rotations in this program determined? Is it like IB where you need to network and then rank things and get what you get, or do you pick, etc? I have some connects with a few desks, and have like 3 in mind that I would be really happy to do. Any help/insight would be super appreciated.
Congratulations on your offer! Navigating S&T desk rotations and placements can indeed be a bit of a strategic game, but with the right approach, you can significantly increase your chances of landing on a desk that aligns with your interests, especially on the sales side. Here's a breakdown based on insights from the WSO dataset:
Networking is Key: Just like in investment banking, networking plays a crucial role in S&T rotations. Building connections with professionals on the desks you're interested in can provide valuable insights and increase your visibility. Anecdotal evidence from the WSO dataset suggests that interns who proactively networked were able to secure rotations on desks that matched their interests more closely.
Express Your Preferences: While the exact process can vary by bank, you'll likely have an opportunity to express your preferences for certain desks. It's important to communicate your interests clearly and why you believe you're a good fit for those desks. Your prior networking efforts can bolster your case here.
Be Flexible and Open: While you have preferences, it's also beneficial to remain open to other opportunities. The nature of rotations is to expose you to different areas, and you might find a desk you hadn't considered to be a great fit. Flexibility can also be viewed positively by those making the placement decisions.
Leverage Any Technical Knowledge: If you have specific technical knowledge or skills that are relevant to a particular desk, make sure to highlight these. For example, if you're interested in options trading and have a strong understanding of the theory, this can be a compelling reason to place you on that desk.
Understand the Element of Randomness: Despite all your efforts, there's still an element of randomness to the rotation placements. Some interns find themselves on desks that weren't initially on their radar. Use these opportunities to learn and network within the bank.
Follow-Up After Networking: After making connections, follow up with a thank you note or email. Keeping in touch with the professionals you network with can keep you top of mind when it comes time for desk placement decisions.
Remember, the goal of the rotation program is not only to find the best fit for you but also for the bank to assess where you can add the most value. By networking, expressing your preferences, and demonstrating flexibility and eagerness to learn, you'll navigate the rotation process more effectively. Good luck!
Sources: Converting an S&T Internship, HELP: The Future of the S&T Job Market and Selecting the Right Desk, S&T Summer Intern Prep - 2 Months Out, S&T Summer Analyst Lateral to IB FT?, Updated 2022 S&T Compensation
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