How many interns do trading desks hire FT?
Im an incoming SA at a BB in S&T with an intern class of about 45. I would love to gun for a certain vol desk, but know someone far better connected with the desk than I am (he is tight with 2 MDs). Assuming he is a lock for the desk, is it even worth rotating with them in the hopes of landing a return with them?
Thanks for any tips
Based on the most helpful WSO content, the number of interns hired full-time by trading desks can vary significantly depending on the desk's needs, market conditions, and the firm's overall hiring strategy. For example, during periods of slower job markets or when trading volumes are manageable with existing staff, desks may hire fewer interns full-time. Additionally, the push towards automation in trading has reduced the need for large headcounts on trading floors.
Regarding your specific situation, if you know someone who is well-connected and likely a lock for the desk you’re targeting, it might still be worth rotating with them. Here’s why:
Impressing the Desk: Even if someone else is favored, showing strong performance and building relationships during your rotation can still make an impact. Desks often hire more than one intern, and being a standout candidate could secure you a spot.
Backup Opportunities: If you don’t land a return offer with that specific desk, the relationships and skills you demonstrate could help you secure a position on another desk within the firm.
Strategic Rotations: As mentioned in WSO threads, it’s important to work hard on each desk and impress everyone. Avoid spending too much time away from your assigned desk unless you’ve cleared it with HR. Visiting desks you like is fine, but don’t neglect your current responsibilities.
Ultimately, it’s worth giving it a shot, but ensure you’re strategic about your rotations and maintain strong performance across all desks.
Sources: Converting an S&T Internship, How were S&T intern return rates at GS/MS/JPM?, https://www.wallstreetoasis.com/forum/trading/what-are-the-top-volatility-trading-desks-at-jpm-gs-and-what-differentiates-them?customgpt=1, Goldman Sachs SLC IBD Overview
It depends on each desks headcount
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