Navigating Offer: S&T FT vs SA

Based on the most helpful WSO content, here are some key points to consider when deciding between a full-time (FT) offer and a summer analyst (SA) offer in Sales & Trading (S&T):

Key Considerations:

1. Previous Internship Experience:

   • You have interned at the firm offering the FT position. This means you are already familiar with their culture, expectations, and possibly the team you will be working with.

2. Rotational vs. Non-Rotational:

   • The FT offer is rotational, which can provide broader exposure across different desks and functions within S&T.
   • The SA offer is non-rotational but claims to put high effort into placing you where you want, with an 80% success rate in getting interns their first choice.

3. Conversion Rates:

   • The FT offer firm converts the vast majority of their interns, with an estimated rate of 70-80%.
   • The SA offer firm does not have a graduate program, so final years are eligible for the SA, and they convert full-time offers that year.

4. Prestige and Reputation:

   • The SA offer is from a bank with a slightly better reputation, which could be beneficial for your long-term career prospects.

5. Interest in Specific Desks:

   • You are interested in macro trading-related desks. Consider which firm has stronger desks in this area and where you see better growth opportunities.

Pros and Cons:

Full-Time Offer:

Pros: - Guaranteed full-time position. - Rotational program offers broader exposure. - Familiarity with the firm and its culture.

Cons: - May not be placed in your preferred desk immediately.

Summer Analyst Offer:

Pros: - Potentially better reputation and prestige. - High effort in placing you in your desired desk. - Opportunity to prove yourself and secure a full-time offer.

Cons: - Risk of not converting to a full-time offer in a competitive job environment.

Conclusion:

Given the competitive nature of the job market and the high conversion rates at both firms, the decision hinges on your risk tolerance and career goals. If you value job security and are comfortable with the rotational aspect, the FT offer might be the safer choice. However, if you are confident in your abilities and the prestige of the SA offer aligns with your long-term goals, taking the SA offer could potentially pay off well.

For more detailed advice, you might want to check out the thread on "Getting an S&T Return Offer - A Survival Guide for Future Interns" on Wall Street Oasis: https://www.wallstreetoasis.com/forum/trading/getting-an-st-return-offe…</a">Getting an S&T Return Offer - A Survival Guide for Future Interns.

Sources: Advice for summer and return offer rate?, Getting an S&T Return Offer - A Survival Guide for Future Interns, Getting an S&T Return Offer - A Survival Guide for Future Interns, Converting an S&T Internship, Full-Time Conversion Rates Summer 2022