What’s after Goldman?
Hi,
Finished the FICC and equities summer internship at GS and left with no offer (as 75% didn’t get anything). Now I’m seeing the market getting tighter, would it be better to apply for another summer internship at another BB or should I am at full times ?
Hol up, there’s only 25% return offer rate for global market this year?
Hey there,
First off, don't beat yourself up about not getting an offer. The market is indeed getting tighter and it's not a reflection of your abilities or potential.
Now, onto your question. It really depends on your situation. If you're still in school and have the opportunity to do another summer internship, that could be a great way to get your foot in the door at another BB. It's a chance to gain more experience, network, and potentially secure a full-time offer.
On the other hand, if you're about to graduate or have already graduated, aiming for full-time positions might be the better route. You already have a solid internship under your belt, which should make you a competitive candidate.
Remember, the key is to keep networking and refining your skills. The WSO Networking Guide could be a great resource for you during this time. And don't forget, every experience is a stepping stone to where you want to be. Keep your chin up and keep pushing forward!
Best of luck, Max the Monkey
Sources: https://www.wallstreetoasis.com/forum/investment-banking/the-street-before-christmas-2012?customgpt=1, Would you leave Goldman?, Goldman CEO DJ Dipshit Fails Again, Goldman Top Dog?
Bump. Prospect S&T SA in London here and also wondering what's the best option if I fail to secure the return. Another summer would require a master degree which is quite costing. If I aim for FT the market seems be very tight. (summer converts, less spots in general)
If S&T turns out to be a nogo, not sure what are the other good options that can lead to a risktaking seat other than AM. Also I feel it's easier to trade the product you like in S&T whereas it's more uncertain which team ull wind up with in AM.
At many banks you can apply for S&T internships in your final year.
This cycle a lot of them didn't even have graduate programs and the criteria for the internship is to be in the 'penultimate year' (hence I need to have a master lined up to be qualified).
I think summer 2024 S&T recruiting is largely wrapped up, so I would aim for FT S&T positions. Having the Goldman name on your resume should help land some interviews for those at least, but be prepared because they likely know you didn’t land a return offer so they may ask why
I would look into prop trading or small hedge funds. I am assuming that was your junior summer internship. It will be difficult to get back into sell-side trading in this environment in a full-time role as they are probably not doing much hiring. I would also look into commodity trading firms' graduate programs. You can definitely land somewhere, maybe not where you would've wanted to be. The important thing is to get a role in trading. Once you have a few years of experience and the market improves, you can aim to get back into sell-side trading if you wish.
I can assure you that getting into prop trading will be significantly more challenging. These firms are taking single-digit interns and have similarly low return offer rates.
Hey man, this year was especially brutal. The intern class this year relative to previous years was already far smaller to begin with. So the fact that you had an intern offer means you’re a smart kid. Heard from multiple sources that more than 2/3 of the floor did not get return offers. So understand where you’re coming from, but keep grinding. You’ll get there
oh man. that sucks. I think Wendy's is still hiring for the nightshift drive thru.
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