GS vs Barcs (London S&T SA)
Summer internship offers for both.
Obviously GS is better generally (I think) but I have some good connections in Barcs so I will be able to get on the desks I want for the rotations.
How much worse is Barclays than GS in markets?
Thank you all
GS, unless you are certain you will get something you find truly interesting at Barclays and know the guys very well. It's just an internship so don't stress too much about it, and congrats.
Cheers for the input.
Would you say rates or gilts at barcs > equities GS?
Currently slightly leaning towards barcs as I'm not interested in equities that much. However don't want to miss the opportunity where I could switch over to something macro as GS
Can't really comment on the rankings as I don't do flow/cash products. Also, it's "only" an internship so don't know if what desk you end up on really matters (I got a FT without ST internships) + I'm in sales, not trading.
What I can say is that if you truly prefer FICC over Equities, then go for FICC. It's really important to like what you do as you will perform much better once you are full time. So maybe go for Barcap, do well, get an FT, become a BSD FICC guy and eventually move to GS/JPM/MS.
Others might disagree, but from my own experience, I have found it incredibly hard to switch to another product, even within the same bank. All the offers I get from other banks are for the exact same thing I'm currently doing, and I have been looking for a switch for almost a year now.
Just saying that a move from Equities to FICC when you're full time might not be easy, but this is just from my own and a few friends' personal experience in London, so please don't MS me for recommending Barcap over GS.
Just want to reiterate what anoss said. Also, equities sales is on the decline (thanks to MiFIDII) and equity trading is dying unless you're a quant. FICC is still alive and well with little to no worries about automation (something like 80% of corporates are still traded over the phone for fucks sake). But yeah, go with the group you fit with the best and that offers you a direct path to the product group you want to be working with.
I agree with you that Equity sales is on the decline and equity trading is dying but that's only true for cash equities. Salesperson & traders in Equity derivatives (flow, exotic and structured products) still have some great opportunities ahead of them. An "Equities" division regroups a lot more than just Cash products & Delta One.
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