Questions for SA '07 S&T
I will be interviewing for a S&T Summer Analyst position in a few weeks and I was wondering what to expect. How many interviews? How long for each interview? I would like to get into credit derivatives, should I indicate that during the interview?
Definately, it will be technical. And very fast paced as they will expect you to answer questions quickly.
Mind you, the more technical you make it (as in try to show your knowledge about certain products, etc.) the more they will ask you about it to the point that you might not be able to answer to some of their quesitons.
If you want to express your interest in credit derivatives, make sure you can explain that inside out (know them well enough).
Be good at number / logic questions and make sure you can answer them fast. What's more important then getting right answer is having the right approach.
P.S. my source is from someone who has been through a few of those interviews
Do you know the GPA range for BB S&T? Mine is low, but I have a contact in the firm- and good ECs.
By low...if its sub 3 you're gonna have mountain to climb.
GPA means shit in S&T, unlike IB. You can easily make do with a low 3. Getting the interview would be the hard part, then if you're genuinly interested in trading, you can do wonders at any BB desk.
Speaking from first hand experience. New recruits coming in a with a 3.5+ gpa thinking they'll be taking 40K bonuses are sure in for a rude awakening.
Why are they in for a rude awakening? Are the bonuses not as big as IB?
Could be way bigger than IB, could be nothing. All depends on your performance. What I meant was your high gpa may not be indicative of how well you perform on the floor.
From my knowledge, the salaries and bonuses are the nearly the same in all divisions. They might vary from one bank to the other, but are generally consistent within different divisions in a bank. So basically, if an I-banking analyst has a base salary of 60K and a bonus of 40-60K, it would be similar for those in S&T and Asset Management as well, with minor variations of course. However, I am still in my final year and have only got this information from this campus-recruiter that I managed to sleep with (oooops....) 2 months back!! :-) So I might be wrong and please correct me if I am wrong!!
Cheers, Dev
Oh yeah....this is only for the first two analyst years and not in the long run!!
From what I know, S&T has a lot more potential for bonuses than IB. Trading if you make a lot of money, your bonuses keep on getting better. However, you have to be able to deal with stress. SSince its the most stressful enviroment ever. Compared to IBD, there's only so many pitchbooks you can make.
As for GPA, just go to any trader at any IB, show him a good model that can get you some good returns (and back it up with some actual past data) and he'll hire you right away if you can convince him that your model is good. At that point he might not even care if you have a degree or not. That's what I was told by Trader at a BB.
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