S&T Summer Internship or Inter-dealer Brokerage FT offer

Hi monkeys,

I'm in a bit of a strange situation; I'm a rising senior at a target school studying applied math and just finished an internship for a top interdealer brokerage (think GFI/ICAP/BGC), and am likely going to be getting a FT offer for a derivatives based desk. I have also recently received an offer from an almost-BB bank (think RBC/Wells/Nomura) for a S&T summer 2024 internship. This is a strange situation as I'm a rising senior, and would need to do a 5th year masters in order to do the S&T internship as they want 2025 grads. No undergrad debt, but would likely be taking out $20-50k of loans for the masters.

The comp for the s&t internship is substantially higher, but I'm aware that I shouldn't be tunnel-visioned by the short-term pros. Considering how bad the job market is, it seems like taking an FT offer now would be very relieving, but I also am interested in trading and feel like pivoting into S&T after graduating would likely be very difficult. I'd think that even if i were to get no return offer from the S&T, the resume boost would still be worth it, but does anyone have anyone legitimate advice? open to anything


Thanks for the response! I should've worded my points more clearly but yeah, when I mentioned the comp being higher on the short-term, I meant that relative to the inherent risk i'm taking of choosing an internship over an actual FT offer. This particular bank is apparently known for not being too high on the return offer %, but also is a quickly growing s&t business in the US, so I'm hoping that worst case scenario, the resume boost should get me interviews elsewhere. Any idea if having this position on my resume would be very helpful for non-S&T roles?


I think taking the internship is the easiest way to get a front-office risk-taking role, whether you get a return or not.  If you start in brokerage, your transition to the trading side (if that is something you are interested in) will take many more years, and by then, you won't have accumulated the experience of directly trading. 


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