SA class size in BB FO (IB, S&T, AM PB)
How many seats are there in different departments in BB for SA? I really don't have a strong preference between different departments, i just want a place in any FO SA and then to work hard to get a return offer.
little bit of background: I am currently working in a contract role in S&T of a mid tier bank (think RBC, SocGen, Santander) and will be pursuing a MSc in Fin and Acct in a UK target coming sep. I also have internship experience in an US asset manager and a local no name consulting. I don't have first honors for my UG.
Will AM/ S&T be "less competitive than IB"? But I suppose IB will have the most number of sears in their SA? Will my fin and acct master make me a better fit for IB?
Based on the WSO threads and discussions, the class size for Summer Analyst (SA) positions in Bulge Bracket (BB) banks across different front office (FO) departments like Investment Banking (IB), Sales & Trading (S&T), Asset Management (AM), and Private Banking (PB) can vary significantly. Here are some insights:
Investment Banking (IB): Typically, IB departments have the largest SA class sizes among the FO roles. This is due to the broad range of activities and large deal flow that requires a substantial workforce. The exact number can vary by bank and year but is generally larger compared to other departments.
Sales & Trading (S&T): The class size for S&T can be smaller than IB. S&T roles are highly specialized, and the demand for positions can fluctuate with market conditions. Your experience in a contract role in S&T at a mid-tier bank could be advantageous here.
Asset Management (AM) and Private Banking (PB): These departments tend to have smaller SA class sizes compared to IB. The roles are highly specialized, and the entry points can be more limited.
Regarding competitiveness, it's generally perceived that IB might be more competitive due to its larger size and the perceived prestige associated with it. However, AM and S&T are also competitive in their own right, often requiring specific skill sets and aptitudes that align with their distinct functions.
Your upcoming MSc in Finance and Accounting should strengthen your profile for IB, as it aligns well with the analytical and financial modeling skills required. However, it's also beneficial for AM and S&T, where understanding financial markets, instruments, and accounting principles are crucial.
Ultimately, the best fit for you would depend on your personal interests and where your skills can be best utilized. Given your background and upcoming studies, you would be a strong candidate for any of these departments, but it's essential to tailor your application to highlight how your experiences align with the specific demands of each role.
Sources: My son interested in S&T over IB (your advise Please), My son interested in S&T over IB (your advise Please), Math PhD to IB (M&A), IS IB even the move anymore?, https://www.wallstreetoasis.com/forum/investment-banking/should-i-pursue-st-or-ib?customgpt=1
Keep in mind that even if IB has more seats, that doesn't make it less competitive as more people apply for it. Also pretty sure all you need is a 2.1, so that won't hold you back.
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