ADVICE NEEDED: Should I apply to SA or FTs?? (2021 Master's Grad UK)
Hey guys,
Just wanted your 2 cents on my situation, would really appreciate any input:
Main goal is to break into finance (IBD/ER/AM/Corp Dev maybe even PE/VC etc.) in London - ideally BB but don't mind if it's a EB/MM.
My profile for some background:
* International student (SEA)
* At target school (think UCL/Oxbridge/ICL) 3rd year -graduating with Engineering Master's: June 2021
* Decent GPA: 3.80/4.00 (i.e. 2.1 to 1st class)
* Decent internship experiences: Incoming Big tech (think FAAMG) & Ex-MBB intern (but in Asia/SG not UK)+ 1 MBB Spring in London
No prior "proper" finance experiences/societies at all , do you think I still have a shot at FT?
OR do I try my luck and apply to SAs instead then hope to convert straight afterwards (if I do use this route then do I still show on my CV that I'm intending to do a 2nd Masters)?
Heard that breaking to FTs straightaway with no IB SA experiences is too hard which is the reason I'm posting.
Stay safe guys + thanks for any inputs in advance!
Based on what I heard and observed among my classmates who applied to IB, including myself.
London offices offer very limited number of FT positions. Most of their Analyst class will be filled with SA/Off-Cycle interns, especially at BBs. EBs might take on some direct FT hires, but it is very often need based and candidates that were extended an offer almost always had previous banking experience.
Hence, I'd advise you to apply for summer internships. Given your profile you should have no trouble getting interviews (just have good reasons for Consulting --> IB move).
Are you convinced you want to do IB? In such case, did you consider doing a Master's in Finance? This would allow you to take part in the recruitment once more (assuming the worst case scenario in which you do not get any SA offer next year).
Hello and thanks for the advice!
I'm not 100% into IB yet but am definitely interested (I'm applying to consulting + BA roles at the side too) so I guess SA is a good place to start.
Tbh I haven't considered MFin because I'm kinda sick of studying already so hopefully I can convert straightaway. The thing is should I bluff an intended MFin on my app so that I can put "2022 grad" instead?
Some banks require you to be a penultimate year students while other do not.
For those that do not require it, apply with your real graduation date. For those that do, I would be cautious about bluffing it. It might get you an interview, but what if you get a FT offer after you intern and they run a background check? It may explode in your face.
I would go for SAs since you don't have any prior exp whatsoever which makes it extremely hard to enter IB.
In an attempt to hijack this as I’m in the exact same boat, if this guy was doing a msc finance + has a top BB in London this summer but say he doesn’t convert, would you still advise him to apply for summers? Or go FT
so you go to IC?
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