Santander S&T 2027 vs BMO S&T 2027

Luckily, I have two offers right now, Santander S&T and BMO S&T, and I’m confused which one to pick. I want to go into trading, and I’m a citizen, so no visa sponsorship issues.

I’m mostly looking to work with smart people, have a good culture, and eventually run my own trading book. I’m also curious about potential exits into buy-side macro roles, such as hedge funds. What factors should I be thinking about for both in terms of culture, training, deal flow, long term opportunities to own a book, and future exit options?

Any insights would be really appreciated

Santander S&T 2027 vs BMO S&T 2027

BMO
36% (18 votes)
Santander
64% (32 votes)
Total votes: 50
9 Comments
 

When deciding between Santander S&T and BMO S&T for 2027, here are the key factors to consider based on the most helpful WSO content:

1. Culture and People

  • Santander S&T: Likely to have a more European-focused culture, given its roots. This could mean a more relationship-driven environment, especially in sales roles. If you're looking for a collaborative and potentially less cutthroat atmosphere, this might be appealing.
  • BMO S&T: As a Canadian bank, BMO might offer a more collegial and supportive culture, but it could also be more conservative in terms of risk-taking. This could impact your ability to run your own trading book in the long term.

2. Training and Development

  • Both banks are not considered top-tier S&T players compared to BBs or EBs, so the training might not be as robust as at larger institutions. However, the quality of training will depend on the specific desk and team you join. Look for desks with strong leadership and a track record of developing junior talent.

3. Deal Flow and Desk Opportunities

  • Santander: Likely to have stronger deal flow in European and Latin American markets, which could be beneficial if you're interested in emerging markets or cross-border trading opportunities.
  • BMO: Likely to have a stronger presence in North America, particularly in Canadian markets. If you're looking to focus on North American trading, this could be advantageous.

4. Long-Term Opportunities to Own a Book

  • Running your own trading book will depend on the desk's structure and the bank's risk appetite. Based on WSO insights, S&T is increasingly becoming an "eat what you kill" environment, so your ability to generate ideas and get senior management to back you will be critical. Consider which bank has a better track record of promoting traders to own books.

5. Exit Opportunities

  • Santander: May offer better exits into buy-side roles with a focus on macro or emerging markets, given its international footprint and exposure to diverse markets.
  • BMO: Could provide solid exits into North American-focused hedge funds or asset managers, but the brand name might not carry as much weight as Santander's in global markets.

6. Future of S&T

  • Keep in mind that S&T is evolving with increased automation and digitization. Based on WSO threads, the focus is shifting towards e-trading, derivatives, and areas where banks can leverage their balance sheets. Consider which bank is better positioned for these trends.

Final Thoughts:

  • If you're passionate about macro trading and want exposure to international markets, Santander S&T might be the better choice.
  • If you prefer a North American focus with potentially a more stable and collegial environment, BMO S&T could be a better fit.

Ultimately, the decision should come down to the specific desk, the people you'll be working with, and where you see the best alignment with your long-term goals. If possible, reach out to current or former employees at both banks to get a better sense of the culture and opportunities.

Sources: Is S&T still a good career path?, How likely is it to get fired in S&T?, Q&A: MBB, BB S&T+IB, Top MBA, US/Global, https://www.wallstreetoasis.com/forum/investment-banking/should-i-pursue-st-or-ib?customgpt=1

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Santander are relatively new in Markets (corporate/investment banking in general) and seem pretty serious about investing in the CIB. BMO is fine but doesn't really have that same optimism IMO - assuming this in NYC, not Canada.

 

Fugiat quam voluptates et voluptatem rerum. Dignissimos et consequatur unde veritatis est id. Natus voluptatem qui officiis qui id quia incidunt ut.

Omnis expedita eaque quod placeat incidunt quia. Et quam tempore excepturi minima voluptatem nam. Nisi est est sit quia libero dolor. Voluptate nam cumque eveniet quo qui quia ut.

Officiis minus est ullam quibusdam nemo pariatur. Inventore laudantium animi aperiam atque. Autem rerum voluptas ea voluptas. Omnis vel et sequi dolorem porro. Ex molestiae eos excepturi debitis illo est blanditiis.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • JPMorgan 01 98.2%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 01 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.6%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.8%
  • Morgan Stanley 05 98.2%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (43) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (75) $151
  • Intern/Summer Analyst (66) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
DrApeman's picture
DrApeman
98.9
6
Betsy Massar's picture
Betsy Massar
98.9
7
GameTheory's picture
GameTheory
98.9
8
dosk17's picture
dosk17
98.9
9
CompBanker's picture
CompBanker
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”