Goldman Sachs Global Markets SA VS Citi Markets SA
Hi everyone, I'm choosing between the two summer analyst offers(both based in London). Would really appreciate any help/suggestions.
I believe for the GS offer, I'm supposed to rotate 9 desks over the summer(based on networking with people from different desks), and I heard that the return rate for this position isn't particularly high(around 30 - 40 percents last year).
As for the Citi one, I'll do 2 rotations from the choices of sales, trading, research, and quant. And I'm really tempted by its high return rate(normally 80 - 90 percent).
I am really struggling to choose between the two offers, and would love to hear any advice or opinions. Thank you so much in advance.
bump^
.
Thank you so much for this reply! It's really of great help!
As for the GS return rate, I heard it from several interns from this year(no idea if it's accurate or not, as that was my only source of information :c). They said there were over 200 interns just for the Global Markets Division and the competition was brutal. But again, I'm not sure if that's accurate.
Also as you mentioned in the comment, I do like GS's more rotations and the opportunity to network with a looooot of people. Sounds challenging but interesting, and would definitely provide more exposure to different desks and their products.
If you don't mind me asking, how do you think of the cultures of the two firms? I attended the Trader's Academy by GS and had the opportunity to go to their office and talk to a few traders, and they all seemed really smart and chill people. Their environment looks really nice and the interviewers all seem helpful and encouraging. As for the Citi one, I didn't attend any of their insight program so my knowledege of their culture is limited. But all their recruiters and interviewers seemed nice and helpful, and their recruitment process was very efficient.
Thank you again for your reply, and look forward to more of your insights!
.
GS conversion this year for Markets was around 70-75%
Thank you for sharing the information!
GS Markets all day every day. It is not 9 rotations. 8 weeks of internship - if you are a good intern you will receive an offer between weeks 3-5 and re rotate with that desk (likely).
Markets is set up in an awesome way so you can flip between sales / trading / structuring fluidly. Lets you experience different asset classes.
Return rate is very high. Pretty much be smart about the desks you aim for and don’t fuck up. Approx 50-60 offers for 70/75 candidates. The reason not all candidates get offers isn’t because there is a lack of headcount - some teams just don’t like any of the interns enough.
Markets is viewed very highly in GS. If you do well but don’t get an offer (which is hard to do - if you do well, you will get an offer) - then you will be given interviews in PWM, AM and IBD.
College me would have said its GS with a bullet (more rotations, more prestiege,...etc), but now that I know better, Citi is the better option. The big reason is that in terms of early career comp and exit opps both should be about equal. That said, Citi positions you better for full time. GS has 9 rotations, but realistically as an intern it means you're hanging out with each desk for a week, and you're not really in a position to really learn anything about the product, or even the culture on the desk.
Although you'll have fewer rotations at Citi, you'll get a lot more out of your experience. Even bigger though, is the rotational aspect of the analyst program. Being able to choose between two sales, trading, and quant desks is a big deal because you'll get a full year working on each to understand how much you really like the product and people. One week on a desk where they may not even remember your name a month out isn't going to do that.
I have a lot of friends at both of these firms, and the feeling of FOMO at GS markets is really high. It's very easy to think that you're in the wrong seat when things get tough, and it's really hard to shake that feeling.
Both offers are very good and you can't really make a bad choice. Your personality and actual skillset are going to matter more than anything else, but I think you leave yourself more functional options at Citi.
Adding to the above comment about citi analyst programme which is for America - see below for the U.K.
Just to point out that citi grad scheme is also a rotational programme over 2 years (4*3m rotations in 1st year and 1yr in 2nd) but GS you just join whatever team giving you an offer after internship
Worth thinking slightly ahead because if you're dead set on something (although in most peoples cases they don't know what they want and just have an idea what a 'sexy' desk is and go for that) then GS might be a better option as you do far more rotations so you can figure out what you don't like; on the other hand if you want to keep your options open then citi programme is better cos you'd then have some tangible experience coming out of the rotations to really say what you like and what you're good at
Can confirm the offer rate at Citi. To the point about Citi doing fewer rotations, it’s more similar to GS’s structure in practice. While you might be on IG sales for a few weeks, you will of course get to know that team, but you will also spend a large chunk of that time talking with teams across credit informally.
I went through Citi’s program but I would chose GS. People from my class (including me) have been dropping like flies from Citi. Additionally, Citi does the rotational program full-time as well. It might sound appealing but by the time you get up to speed on one team, you switch. It becomes very difficult at the end of the rotational program to lock in your desired desk, especially if it’s not one you rotated on. HR provides virtually no structure / support at this point. Maybe you can get lucky and land the desk you want. But otherwise, you and many other analysts are left fighting over the leftover desks. Go GS
Praesentium id magni sed optio. Non reiciendis facere est voluptatem sed quis. Perspiciatis ut tempora est voluptates ad molestiae nobis. Perferendis ex tenetur non est possimus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...