Keep on being rejected by S&T (I want), keep on being interviewed for IBD (I don't want). Why is it so hard to switch from IBD to S&T?
This is an experience I'm going through as a final year student.
I have a capital markets internship under my belt, and I loved it.
What I'm not so keen on are the long hours and the absence of a constant lifestyle. So, logically, I've been applying for S&T roles instead because the product group I was handling is esoteric (think debt-based securitisations) and a strong part of the S&T division while the lifestyle hours are more amenable for someone who wants to start a family in the next years with my significant other.
However, I get no call backs from any S&T programmes / events etc.
The only thing I'm being interviewed for at the moment are more IBD-related OC roles in capital markets and M&A.
I've done everything to the point where I've gone and full blasted my CV for sales and trading as much as I could have (courses, extracurriculars, strong asset class knowledge) but no replies.
I want to gather some ideas as to why I can't seem to make the switch from IBD to S&T ahead of a grad role next year. I am looking to apply to summers but clearly if it isn't working at the moment, I'm going to have to consider looking at myself and seeing what's up.
It's definitely a rare circumstance that I've not seen anyone come across and it's definitely bugging me.
You might need to provide more clarity as to where you are in your career lol.
Are you a student? Graduated? Etc.
Sorry, on me! Final year student.
You're a final year now or you're going into final year?
I'm not 100% sure what S&T programmes you've been applying for tbh since S&T doesn't do that many OCs unlike IBD. And OCs are significantly more competitive than summers. If you're striking out on those, it's not necessarily indicative of your prospects for summers.
Going into final year, so I graduate next year.
There have been a few like at GS, JPM, MS, DB in their markets divisions (JPM definitely has an OC for markets, GS had more of a mentorship scheme like MS and DB had a series of in-person events over the summer but I got placed in their O&A series of events, not FIC whilst I was contacted for an OC in their O&A division as well).
I couldn't land a single markets related role though. However, if I apply to anything that's IBD related, I yield better chances.
I'll see what I can do: you are right that it's not indicative but I thought that given I already did IBD, I'd be considered at minimum for S&T given I have Cap Markets related work in my CV and that I did handle the stress of IBD to land a return offer.
I mean mate, you're extrapolating a lot from what sounds like 4 programmes which are barely even internships.
All bar the event at DB are convertible to summer internships / FT roles.
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