Background: I received a BB bank FT offer after the S&T rotational internship this summer. The FT program consists of four rotations in two years then you'll be placed at a desk as an Associate. I've done intensive reading on WSO and some of the posts are super helpful in landing a return offer, and I'd like to hear more from your valuable inputs.
Question: Is rotational program really helpful compared with a desk-specific offer at other banks? Does it make sense to rotate among sales/trader/structuring roles? I've seen several FT analysts excelling/struggling the rotation, and I know it highly depends on how an individual leverage this opportunity, though.
Below are my very limited and naive considerations. Pls feel free to comment.
- Exposure to a broad range of assets. As for me, this summer I've done two rotations under equities (which I'm interested in, but the bank is not good at), so I'm expecting to be part of the stronger credit/FX business during FT rotations.
- More internal mobility, certainty of being promoted as Associate after two years, etc.
- Uncertainty of your final desk. You're focusing on equity derivatives trading then next day you are at rates corporate sales, and sometimes custody, fund services, etc. You'll only know your next stop just two weeks ahead.
- Only four month for one rotation makes it like another internship. If you're going to interview for other banks for a certain role, they might regard your experience relatively limited.
- Generally it's MD, but HR has a say in the selection process (even though you've agreed with a desk head to join them). Two to three unpleasant stories have happened before.
- Pay is very average and bonus is capped. Rotational analysts are hired into a general program (not desk) and managed by HR via performance review. (Money is not the major concern, though, just the way that you're valued.)
Thanks again and welcome your thoughts. I'm merely starting my career so might be wrong about the bank and the program.