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April 30, 2024
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It fluctuates.
They like quantitatively inclined people, preferably those who've attended a french engineering school. Equity derivs at SocGen have historically been top notch.
BNP does well in derivatives and structured products. I would say their European footprint is larger than in the U.S.
There was an article the other day i believe in WSJ or bloomberg saying that BNP was planning on adding 100-200 IB jobs this year in the US
Very well respected in the equity derivs arena, two of the top players. Problem is they arent known for paying welll, they are under the finger of the french government and are considered to be two of the more sketchy banks when it comes to their holdings.
They're fine... Active in most products and very decent in a few of them.
They are also quite good in some niches in FI, but overall they are good shops at least in Europe. They do have a reputation for not paying well and pulling some not very nice shit with juniors though.
Top notch in Equity derivs. Garbage to decent in other areas.
You could find it very hard to adapt to the heavy french culture/management. People are all from the same schools(Ecole polytechnique, Centrale Paris...), and have the same mindset, not as international as a big US bank can be for example.
Do not underestimate this last point. It is VERY difficult to fit in if you arent from that background.
The junior system at these places is mainly composed of hiring long term interns and making them do all the junior work. Cheaper for the bank as they arent full time workers officially, dont have to pay a bonus/pension etc etc.
That's what I was referring to. The fact that you're an intern for 1 year or 1,5 years means you are getting paid a lot less than your peers at other firms. Plus it's quite risky, since they might not renew your contract or promote you to full time, and you can find yourself out of a job and 1 year or 1,5 years out of uni with only internships, which can make it quite hard to lateral...
thanks a lot, very helpful comments. Yes, I can imagine they have quite a unique culture. I hope I do not offend anyone on this forum who happens to be French, but I think it is fair to say that the French are especially proud of their way of handling things/ management culture.
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