Citi NYC or BAML NYC for S&T summer internship?

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Rank: Chimp | banana points 11

Hi everyone, just got offers from both Citi NYC and BAML NYC for S&T summer internship. Would like to know more about how strong each is, culture at the two banks, and also the return rates. Anyone with some ideas? Would really appreciate any sharing!

Comments (14)

Oct 21, 2017

Take Citi for the close to 100% ft offer rate alone. They really aren't that different of firms.

Oct 20, 2017

Thanks! I think I am gonna take Citi as well!

Oct 21, 2017

Culture is great at both. BAML is strong in equity and MBS/certain fixed income products. Citi is strong in macro primarily with strengths in certain other desks here and there. I'd take BAML just because I spent a week or two on their trading floor shadowing and loved the people I met.

Had buddies intern at both respectively last summer, both did get FT offers. One is heading back to Citi FT and the other BAML one is actually going to work for a credit hedge fund out of undergrad so he turned down the FT position.

Can't go wrong, congrats on both!

Oct 20, 2017

Thanks WineSpectator for the detailed info! I might go with Citi since I feel I know more people there.

Oct 22, 2017

How did your friend get the credit HF offer? I'm in a similar position (doing BB S&T this summer, but would like to get buy-side out of undergrad).

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Oct 21, 2017

He honestly got super lucky. BAML's internship for S&T is a bit weird, instead of 3 rotations you pretty much do 2 and then for the 3rd portion of the internship you pick one of those two that you liked and continue to do that for the last third of the summer, ideally to which you'll get a FT offer on that desk. He did those 2 rotations on a credit trading desk, must've crushed it.

Essentially the fund he went to was virtually all alums from his school and they typically hire one kid from the school every year or so, he ended up being that kid.

That in mind, there's a ton of stuff on this forum in how to get to the buy-side out of UG (that isn't through direct alum connections).

Oct 22, 2017

That's cool. I didn't know BAML S&T worked like that. Thanks for the info.

Oct 21, 2017

Citi imo - decent energy desk

Oct 20, 2017

I think they are pretty strong for FICC but not sure if the top desks will have an easy culture.

Oct 23, 2017
Oct 23, 2017

No brainer - BAML
If it's equity BAML is the best house in general (beats GS/MS)
If it's FI - I got no fucking clue

Disclosure I don't work for ML - but I have dealt with them in the past and I see them a lot in the market.

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Oct 23, 2017

Thank you Disjoint for the comment. I was actually leaning towards BAML so that makes me feel better!

Oct 23, 2017