JP/GS/MS S&T Conversion Rates
Hi guys,
Wondering if any former SAs/current analysts in S&T at the above firms are aware of what return rates look like. Afaiw for GS and JP return offers are desk-specific and can be hard to secure. Could any previous SA fill me in re; their internship experience and navigating the process towards FT? London/EMEA info preferred.
What are generally the desks with most headcount/least competition? Are there any desks to consider avoiding? What are typical splits of interns interest in Trading v Sales? Considering the short time on the internship, and difficulty of doing 'real work' like an IBD internship, what tasks are typical/how do you demonstrate value? Any recommendations on what to prep in advance for the summer?
Lots of questions but any experience/info would be really appreciated. Thanks,
For London
JP: during the interview process, you are hired onto a desk - for the entire internship, you will be on that desk... and if they like you at the end, you receive a return offer. It's possible to network onto another team during the internship, but not common
MS: from friends, I hear the historical offer rate is much lower than 50%
GS: last year, all the interns were allocated to 4 desks by HR (total 5 weeks: 1 week each team)... but what actually happened was all the interns realized it's better to stay on to their first/second team for the entire internship and simply not move onto the next teams, hence increasing chance of getting a return offer by the first/second team. Most people who got return offers were kids who got along well with their first team, and stayed there.
Before COVID, interns were allocated loosely to a few teams and given a chair to network around other teams... chance to return depended heavily on networking skills + getting along with a desk that had headcount
What are generally the desks with most headcount/least competition? Varies by bank. No straight answer
Are there any desks to consider avoiding? any products you dislike, and desks prone to automation in the future (cash equities?)
What are typical splits of interns interest in Trading v Sales? Let's be honest, most interns want to be traders rather than be in sales. But, expressed interest will be similar because sales is seen as the backup & safe choice. Normally trading = engineer/maths backgrounds, sales = everything else
Considering the short time on the internship, and difficulty of doing 'real work' like an IBD internship, what tasks are typical/how do you demonstrate value? Daily news update, automation of processes, networking... don't ask the same question twice, learn quick and be amicable
Any recommendations on what to prep in advance for the summer? WSO has many threads on this, they'll offer better advice
Thanks for the structured reply, appreciate it a lot. Would you mind if I dm'd you asking a few more questions? Thanks again! :)
sure, go ahead :)
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