How to prepare for S&T SA internship at a BB?
I've heard that there is not much that you can do given that you can't actually work on any client work without licenses, but is there any technical prep that can help you stand out, or at least help make you more comfortable once on the job? I'm not talking about keeping up with markets or any of the obvious stuff, but maybe learning certain programs like Excel VBA, understanding specific types of products, etc. I am aiming to go for a trading role which is a bit more competitive than sales for return offers from what I've heard, so I'd love to have any advantage I can possibly have going in. Any help is much appreciated!
To prepare for an S&T SA internship at a BB, especially for a trading role, here’s what you can focus on based on the most helpful WSO content:
1. Technical Skills
2. Product Knowledge
3. Soft Skills
4. Networking and Desk Integration
5. Recommended Projects
By focusing on these areas, you'll not only feel more comfortable but also stand out as a proactive and prepared intern.
Sources: How to be a good S&T Intern, Technical Skills to Prep for SA S&T, Getting an S&T Return Offer - A Survival Guide for Future Interns, Getting an S&T Return Offer - A Survival Guide for Future Interns
definatley learn vba and maybe python/sql (build a few projects and learn how to use different libaries)
everyone i talk to says that knowing how to code/automate things/work with large amounts of data quickly is a huge value add for juniors
good place to start for sql is https://mystery.knightlab.com/
for python learn how to use things like numpy and pandas and how to call apis/pull data
also maybe narrow down which desks you'd be interested in and do some more in depth reading e.g:
credit -> credit investors' handbook
derivatives -> OF&OD by hull
etc.
another thing you could do is reach out to past interns to see how the specific desk assignment works
i know some places HR places you, others it's a matching system, others the desks have a "fair" type of thing during the first few weeks that helps to place you; would be worth knowing which format your bank uses so you can optimize your approach for getting placed on a specific team
Very helpful. Thank you!
Gonna copy and paste the advice I gave to someone else so apologies if some of it is gibberish. I interned at a BB bank in London and am returning for rates trading.
I would say of course keep on top of markets and stuff, read as much research as you possible can - you've obviously got the internship already so I'm sure this is obvious but whichever desk you rotate on, try to keep up with current affairs - ING Research / ING Think is really good, especially for Emerging Markets.
I would say always have an opinion on everything - US rates, FX, ECB, Iran etc. And I'd always have a trade idea in mind, e.g. if you go to Euroswaps have a long and a short trade pitch ready always. Ask a million questions, speak to everyone on your desk - if anyone asks you to do something that almost always means do it immediately and if you can't, make it clear to them.
The main thing if that you're considered for a full-time position, these people are evaluating if they want to sit next to you for 12 hours a day so just being personable is half the game. I honestly wasn't the most technically amazing on my internship but I got along with everyone on my desk - people need to like you!
Definitely try and get an idea of what you want to do, in terms of product and role - the point of an internship is to figure this out but I'd try and go in with at least a small idea, I assume there will be some sort of matching process to figure out your rotations. Try to determine if you want to do micro products (equities/credit) or macro (fx/rates) or commodities or whatever, trading vs sales vs structuring is a very different working style so different personalities will thrive in each differently. If you want rates and are rotating on rates trading, getting IRS mechanics, bond futures etc. nailed before you start will put you in a great position.
Work hard. It is only 10 weeks, do what you must to get the return - markers is ofc way chiller than banking but it's still GS and your fellow interns will be competitive. Talk to the other interns, get a sense of which desks are keen to hire etc. Even though you are kind of competitors, still help other interns out - it comes around, I promise :)
If you are talking to a trader etc. and asked a question and don't know the answer, totally fine (happened to me all the time) - don't bs them, just say you don't know, listen to the answer and have it nailed. People are very happy to help and explain! - no one likes explaining something several times. More to the point, carry around a notebook and when you speak to people write stuff down. Helps massively.
The most common intern tasks in S&T are 1) produce a daily market report/summary etc, and 2) pitch a trade idea. Getting these two things down before you start is probably a good idea.
Ultimately if you speak to everyone on your desk, try to help where you can/do a useful project, get on well with everyone and build good rapport, keep up to date on markets/news in your area, work hard, and demonstrate a clear interest and desire to understand your desks' product - hard to fail. Also don't forget to enjoy it - take the job seriously, but not yourself :) You've done super well to get to where you are. Any other q's lmk and good luck this summer!
Great advice. I am an incoming S&T SA at a mm bank. Very helpful, thx for this.
You're very welcome, fellow semi-targeter. Good luck and God bless
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