Is a weaker group better for securing a return offer?
Hi all,
I'm going to be an SA at a BB this upcoming summer with a group placement process. I think I have a good chance at a few of the relatively much stronger groups due to alumni and these groups are also known to have significantly longer hours than the "weaker" groups, but now I am having second thoughts. This may be really dumb, but would it be a bad idea to instead just go for one of the chillers and less intense groups in order to ensure a return offer? I know you would trading off exit-ops but for me getting a return is really important. Long-story-short I don't exactly come from a background where I will have a lot of other opportunities like this and I have a lot of family really counting on me to get a FT offer.
Any advice or guidance on this would be really appreciated thanks.
bump
Make sure that weak group has headcount and go for it. Dont care about prestige at all that early. Whilst its not FIG or RE you will have easy to move across the cov groups
What if you are forgoing product groups like M&A and LevFin?
If its M&A or LevFin the election just take M&A if you are at a good bank as that will open you doors. If not LevFin and improve your return offer chances
what about oil&gas?
so you say it is substantially harder to move to another coverage group from FIG or RE ?
If you can be a top bucket FIG / RE / O&G trust me you will have no problem to transition to other teams or to move to PE.
Try to get a seat, then make sure to be good and the rest will come alone
No. This is not a good strategy. Your only focus should be a top summer analyst.
If you perform well in a group that isn't asking their interns to return and you have performed well, assuming your MD's arent complete dick heads, they will likely try to get you in with a another group at the bank or give you very strong endorsements to friends at other firms.
No, this is really dumb - and a horrible way of thinking if you ever want to succeed in life.
Set the expectations for yourself high. If you intentionally choose a weaker group you're selling yourself short.
Also, for all you know, the weaker group might just have a VP or something that ends up not liking you and prevents you from getting a return when you would've been fine in a better group.
Says the kid whose never had an IB internship...
Well this may be a first but agreeing with anonymous poster. Grab the group you want and do everything in your power to get a return offer whether it's submitting excellent deliverables, playing the politics right, or showing up with a fucking amazing attitude every day (think eating shit with a smile). Don't sell yourself short or overestimate your competition. You're not going to be given work which will make or break a live transaction but you will be given work which will gauge your fit with the team and the type of work you can get done to make your analysts or associates life easier. If you still don't get hired at you hit these marks, you probably just joined the wrong group at the wrong time (ie downsizing or whatever it is). But know if it happens in one group, it is likely to happen in others including the weaker ones you mention going for.
Also my experience was last summer that most of the "weaker" groups had less offers to give out per intern than the stronger groups where the offer ratio was definitely better.
I recommend choosing an area you really think you'll be interested in. It's that fundamental interest that is going to make you more likely to work hard, immerse yourself in content, enjoy networking in the industry, and ultimately that is what will make you successful, be it at this bank or the next.
Exactly. If you choose a "weaker" group and don't find it interesting at a high level, you'll be less likely to get a return. Pick you favorite group (both at a high level and more importantly how well you like the people) and turn in good work.
Yes, it's easier to work longer hours in an enjoyable environment/topic.
I disagree with the above comments. It's much more preferable to do well and actually get an return offer, then go to a stronger group and not get one. It could be my personality, but I much rather work for a laid-back group and then one filled with type-A hardos that work 24/7.
I find it a bit ironic that you say you would “pick the laidback group “ considering you work in M&A
It's all relative
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