How to do well as a sales & trading summer analyst?
Any advice for me as I will be a sales & trading summer analyst at a top BB this summer? It's a rotational program, so I'll be rotating through different desks and wanted to know what to do to be the best summer analyst, from the small things (like such as do the traders really want me to buy them coffee/lunch) to the larger things--thanks!
Be on top of the news and how it drives markets. Bloomberg (the website and the terminal) is a great resource.
Know how fundamentals are moving. Create a spreadsheet and track the major indicators for each group your'e in each morning. This will make it easier to write updates and to understand morning meetings.
Be aware of what your desk's position is and why. You will get an idea of this by listening to morning updates, especially if you're on a global desk and there are calls to pass over to international teams. Ask questions about why people are trading or pitching particular ideas.
Be down to earth. You're not as special as you might think. Be that intern who helps out other interns rather than stabbing them in the back. People will notice and you'll get a reputation as being competent. You might also make some friends.
Read the research reports appropriate to your desk. Highlight terminology you don't understand - google it first, and ask questions if you can't resolve it.
Attitude is the most important thing you can offer. Smile, be (appropriately) enthusiastic, don't complain. Make yourself known to your team, but don't force yourself upon people who are busy. If people are busy, see if you can set up a rough time in advance to shadow them. You should be aware that this time may change, but you'll eventually be able to spend some time with them.
Don't drink more than you can handle.
Thank you for this response! Do you have any advice for the "rotation education day" where you are actually picking the desks you want to work on for the summer?
If they give you contact details and you don't have to pick a desk day of, network extensively with the desks you are interested in outside of the day. For the weeks surrounding my day I was taking on average three calls a day. I think I had 6-8 calls with my top choice, and they also ranked me as their first preference, so it worked out.
Don't Make Unforced Errors: This should go without saying, but you'd be shocked by the number of people who screw this up: don't be rude to people, don't get drunk at a company function, don't send inappropriate emails or Bloomberg messages, etc. This sort of crap represents a much higher proportion of people who don't get offers than you would think.
Choose the Right Desk: Choose a desk(s) where you fit the culture, where the work fits your talents, and that you find interesting. Don't worry about what's "fashionable" at the moment. With that said, think very carefully about joining businesses that are in secular decline.
Work Hard: Facetime isn't as important as it is in IB. However, there is a very significant overlap between interns who are in the office after (and before) 7 and interns who get offers. Granted, it's hard to say if this is causal, more useful interns get more work. But, if someone asks you to do something, get it done, even if you have to stay late.
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