I will start off by saying I am a European student, so no Ivy League (or equivalent) past for me. I have always had good grades (top 10% of my year) and multiple extra-curricular activities (organizing committee of fraternity, counselor during youth vacations etc.). So nothing extra-ordinary (good or bad) there.
Currently I am faced with two job offers: one is from a global financial institution (top 10 by market cap) another from a more European oriented one (top 20 by market cap) and they both entice a traineeship program.
My goal is very clear: in 2, maximum 3 years I want to move to a trading desk in a tier 1 bank in London. What is the best path to reach this goal?
The first program is very well structured with 3 internships (1 abroad) of which one and may be two will be in the dealing room. It also includes nice extras such as guided preparation (and time off) for CFA-1.
The second program consists out of 5 (short) interships in 3 different business lines. On paper, program 1 dominated the second one in all aspects: larger institution, more structured, CFA-1, better pay etc.
Things changed somewhat when I received an adapted offer from the 'European' bank: I would start off in the strategy department in my home country, then move to Shanghai (strategy) for an internship followed by a US based one (trading) and finally again EU based (core business of the bank, world leader, not trading). I really like this proposal because I believe it is a once in a lifetime opportunity. However, I am afraid it could be less beneficial in realizing my goal of becoming trader in London.
The question is simple: keeping my goal in mind, which offer would you choose?
Thanks in advance
bump
they both seem pretty good, go with the better brand name
What do you want to trade? Some organizations are better recognized for certain product types than their market cap ranking suggests.
Also bear in mind that perceived branding power in London is different than in NY or different centers in continental Europe (Zurich, Paris, Frankfurt, etc). From my limited exposure to the (structured) finance community in London, size seems to be a good proxy for reputation.
I still have not made up my mind but the things you said are taken into the equation. Thanks!
passerby, do you happen to have some more information on Merrill Lynch building/expanding a structured finance team in London? Particularly whether they are recruiting juniors, etc
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