Hey guys- any recommendations on the best desks for building a good skillset in valuation, modelling, credit analysis (or really, any of the skills that IBD/ER folks use)? I'll be interning at a BB in S&T but would love to cast my scope as wide as possible.
Obviously I'm still really interested in S&T, but thought it could be nice to get some exposure on the fundamental side as well and learn the skillset of IBD/ER folks. Any ideas of specific desks to shadow or reach out to?
bump!
4 potential desks, ranked highest chance to lowest chance of that skillset:
distressed debt - there are three segments of the desk: trading, desk analyst, and sales. while you'll likely intern for the desk as a whole, you want to be in the second subteam. they do all the modelling are usually former bankers from BBs or EBs. it's a highly sought after desk, though, so you'll have to network early and well to get onto it. secondly, even if you do, the chance you get a desk analyst spot depends entirely on if the desk is hiring there. in my internship, i was their top intern but they were not hiring. if you get the chance, intern here because chances are you'll have a project that involves modelling anyway and that's good for the resume.
the high yield desk may also involve similar modelling but there are usually fewer people doing that. however, i know a lot of programs involve a 1-2 year credit research training if you're hired to the desk, so it will still provide those skills. i'd maybe keep this as a second option.
third, the CLO structuing desk probably gives you good modelling skills that i hear are pretty transferrable. would definitely keep an eye out for this one and network to see what you'd learn because i'm not entirely sure.
finally, the special situations group in equities i think has some modelling folks
if you want IB/ER, just recruit for that instead FT and start networking now.
SB'ed, this is amazing. Question though, would networking with those IBD/ER folks this early (8 months before) make me come across as desperate, or make it seem like I'm trying to get out of S&T before it even starts? What's the best approach to reach out without sounding too desperate?
this is a great response
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