What Should I Be Doing Leading Up to S&T Internship??

Hello everyone, title pretty much says it all.

I got a return offer for this summer in trading, and desk placement interviews take place in January. Would love every tip imaginable on not only what I should be doing now, but what I should be doing to stand out in order to get the FT during the internship. Also, I'm quite interested in joining a credit desk, but I'm open to my mind being changed.

Can provide more context + info if needed. Thank you guys!

7 Comments
 

Based on the most helpful WSO content, here are some key tips and strategies to prepare for your S&T internship and maximize your chances of securing a full-time offer:

Leading Up to the Internship:

  1. Put Together a List of Desks:

    • If you're on a rotational program, create a rough list of desks you would like to work on. This helps you focus your preparation and shows your interest during desk placement interviews.
  2. Leverage Information:

    • Get added to each desk’s general email distribution list. This will give you access to flow info, research reports, and other materials that are crucial for developing a working understanding of the desks.
  3. Prepare for Technicals:

    • Ensure you are well-versed in technical knowledge. This includes understanding market lingo, financial products, and trading strategies.

During the Internship:

  1. Be Proactive:

    • Hop on research calls and create thorough one-pagers to distribute. This shows initiative and helps you stand out.
  2. Be in Sync with Your Desk:

    • Understand how your desk operates, how they make money, and their daily routines. This includes knowing how they interact with other desks and understanding product/market lingo.
  3. Optimize Desk Placement:

    • If you are interested in moving to IBD from S&T, try to end up on a desk where you can utilize Accounting/Corporate Finance knowledge and Excel extensively. Solutions and Credit desks are good options as they involve skills relevant to IBD.
  4. Practice Behavioral Questions:

    • Be prepared to answer common behavioral questions confidently. Everyone from Analysts to Senior MDs will ask these questions, and nailing them is crucial for landing a return offer.

Specific to Credit Desks:

  • Focus on Relevant Skills:
    • For a credit desk, emphasize your knowledge in Accounting, Financial Statement Analysis, and market research. These skills are highly relevant and will help you stand out.

By following these tips, you can position yourself effectively for a successful internship and increase your chances of securing a full-time offer. Good luck!

Sources: How to be a good S&T Intern, Getting an S&T Return Offer - A Survival Guide for Future Interns, S&T Summer Analyst Lateral to IB FT?, Converting an S&T Internship, S&T Summer Intern Prep - 2 Months Out

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

As a former s&t intern that didn’t get a return offer here is everything that I would’ve done differently.

Spend your time learning about derivatives and drilling it to your memory, learn about equities and fixed income and drill it to your memory. The whole “we don’t expect you to know anything or much” is complete bs.

Spend your time just getting to know the concepts now so you are not left behind.

Networking is important but it all comes down to if you know your stuff and it’s easy to be likeable just be normal.

Also start reading up on the markets and be able to talk confidently about it so when you are shadowing you can include what you learned.

 

I've definitely been keeping up with the markets, but what are some important things that I should know about derivatives?

 

Global macro trading by gliner. Then, given that framework, start reading market news and build an intuition (e.g., why is peso mega down right now?). Once you know your desk, figure out the important books (tuckman or fabozzi for anything fixed income, natenberg for options, etc.) and read that. Good luck.

 

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