Offers from MS, GS, Citi and JPM for SA S&T, may renege.
Received offers and have signed one, but I’m still weighing my options. I'd appreciate any insights on the desk strengths at each bank, as well as their culture, rotation structure, and return rates. I’m especially interested in the macro side of things. Leaning away from JPM since it’s a single desk rotation, feels like if you don’t click with that team it’s a bit limiting. GS’s five rotations are appealing, though one week each might make it harder to make an impression. Any thoughts would be really helpful.
Based on the most helpful WSO content, here are some insights on the desk strengths, culture, rotation structure, and return rates for MS, GS, Citi, and JPM, especially focusing on the macro side of things:
Desk Strengths:
Culture:
Rotation Structure:
Return Rates:
Additional Considerations:
Given your interest in the macro side and the concerns about JPM's single desk rotation, GS's multiple rotations might offer a broader exposure, though it comes with the challenge of making a quick impression. Balancing these factors with your personal preferences and career goals will be crucial in making your decision.
Sources: https://www.wallstreetoasis.com/forum/trading/what-are-the-top-volatility-trading-desks-at-jpm-gs-and-what-differentiates-them?customgpt=1, HF exits from macro vol desks?, A Response to "Which desk is best?" Type Questions... Please Read Before Posting, can someone give me insight on the culture at a physical trading house (vitol, trafigura, mercuria), How to break into a role on a structured desk?
GS / Citi
I would go for GS though as to me more rotations = more chances for converting
Citi s&t has a considerably higher return rate. GS London is 50% at best historically
I've heard this yep
GS return offer rate is usually 70-80%
Citi has had poor return rates this year and prior. S&T especially. We just don't take many people since the restructuring began... I think things will change tho
When did you receive your MS offer?
Aside from return rates how about the strengths of each each bank. Have a couple days to sign
This question is pretty inconsequential. The truth is, at the junior level, your experience will be broadly the same. The "strengths" of the bank won't really matter. You're not a senior who can leverage a massive balance sheet along with your relations to win a deal (more IB).
That said, on the S&T side it might be a bit different bcos different interests whatever. Citi and JPM are great at debt so probably bonds rates that stuff. GS equities. idk about MS. would probably say good at equities too
plenty of threads on here re, but my understanding at very high level (obviously all good S&T shops...)
MS - equities, this is really their main strength
GS - equities & commodities, rates solid too
Citi - rates & FX
JPM - rates especially (sure strong desks but not 100% what those are)
What
?
Commodi nihil id quia aspernatur saepe. Ea voluptatibus quis beatae impedit necessitatibus similique qui. Ea voluptatum est beatae inventore. Eum quidem unde recusandae et aspernatur nihil ullam. Quas eum quo reprehenderit adipisci. Veritatis rerum expedita omnis non cum tempora possimus.
Aliquam saepe qui et quibusdam in. Aperiam sit amet odio itaque labore incidunt doloribus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...