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London IB Summer Internship Discussion 2018

I'm looking to secure a bulge bracket, investment banking, summer internship, in London, next summer. I'm currently on internship in a small financial service firm in Dublin, and while the experience is decent, it's not exactly what I was hoping for this summer.

I had essentially no understanding of the power and popularity of internships when I started my degree (Economics and Finance) last September. As such the whole application process for this job was quite rushed and last minute.

I saw a forum floating about regarding investment banking summer positions in the U.S, there doesn't seem to be anything for London. As well as a way for myself to track applications, that was the other primary reason for writing this. This is intended to be both a learning project for myself and a discussion place for others to benefit from too.

London Investment Banking Internships Summer 2018

Summer internship applications are already open at many of the bulge bracket and smaller investment banks.

Bank of America ML Summer Internship Applications

Summer Analyst applications open now.
Application deadline is 23rd November 2017.

Spring Insight applications not open. When they do, the deadline is 4th January 2018.

Barclays Summer Internship Applications

Summer Analyst applications not open.

Citi Summer Internship Applications

Summer Analyst applications open now through Bright Network.
This application is not seen on the Citi website but is for their Fast Track applicant requirements but it's worth applying here at this time regardless. Application deadline is the end of July.

Their regular applications through the company directly are open in September until December.

Credit Suisse Summer Internship Applications

Summer Analyst applications open now.

Spring/Winter Insight applications open now.
There didn't seem to be an indication of closing dates for either, probably around Nov/Dec at a guess.

See image below for Credit Suisse's internship outline.

Goldman Sachs Summer Internship Applications

Spring Insight applications open now.
Application deadline is 3rd Jan 2018.

J.P. Morgan Summer Internship Applications

Summer Analyst applications open now.
Application deadline is 26th Nov 2017.

Watch this video to learn how one student landed her dream internship.

Morgan Stanley Summer Internship Applications

Application only open for Australia, Asia and America.

UBS Summer Internship Applications

Applications for London are not currently open.

Applying For An Investment Banking Internship

A lot of these investment banks recruit on a rolling basis, so no harm in applying soon after the opening date. Fast track applications have very specific requirements but regular applications usually open not long after. These are directly from the company.

Talk to as many people as you can from the company. This is both valuable networking but also gives you an idea of what it would be like to work at a particular bank. Attend networking events and if you can, get onto a spring session with the bank of your choice. Once you've accomplished this, landing a full summer internship is much easier.

Learn More About Summer Internships At WSO

Preparing for Investment Banking Interviews?

The WSO investment banking interview course is designed by countless professionals with real-world experience, tailored to people aspiring to break into the industry. This guide will help you learn how to answer these questions and many, many more.

Investment Banking Interview Course Here

Comments (431)

Jul 13, 2017

Great idea to start this thread! Are these all the banks that recruit in London? I know theres some uncertainty about if these banks are going to stay in London/recruit?

Jul 14, 2017

Thanks for the feedback, hoping to get a good discussion going! In terms of bulge bracket, yes I believe so, but as for other 'classifications' if that's what you want to call it i.e. Elite Boutiques or Middle Markets, no I wouldn't think so. I haven't done much research at all into these but I'm sure they have internship programs too. And regarding the uncertainty, it's very hard to say! As an Irish student I was more than happy with JPM's Dublin announcement earlier in the summer, but I don't see them completely wiping out London programs!

Jul 14, 2017

Bear in mind, applications at Citi open properly in September. The July period is for accelerated Bright Network applications and they're looking for a specific type of candidates.

Jul 14, 2017

True, very good point! The bright network link was the on I had originally intended to include. And yes while you say specific I feel the candidate description is still broad enough to apply to quite a few people! Thanks for the feedback

Jul 14, 2017

Also, could you confirm that Goldman Sachs application are open for London? I remember I checked yesterday for IB and all I could see was Tokyo and Hong Kong.

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Jul 31, 2017
potatolord:

Bear in mind, applications at Citi open properly in September. The July period is for accelerated Bright Network applications and they're looking for a specific type of candidates.

Yeah,according to official pages (I cannot post any links yet) applications open on the 4th of September for Citigroup.

Besides applying earlier can anyone suggest what difference does it make applying through Bright Network for Citigroup instead of waiting for September?

Since Credit Suisse applications are already open doeas this mean that they could close before September?
Thanks!

Jul 31, 2017

Credit Suisse closes in December. Recruiter confirmed it.

Aug 1, 2017

I am curious about the difference between Bright Network recruitment for Citi and their official recruitment as well.

Jul 14, 2017

Looking to apply for a SA spot in London as well, all I can say is that don't underestimate the SHL tests, since a lot of BBs and EBs require that you take them. I've been using jobtestprep to practice and can get around 80% on the numerical and 70% on the verbal ones on a good day. I've seen people on the forums boasting about how they did 100% on both with their eyes closed, that is total bullshit. I've read a post written by a person who actually prepares those tests and they stated that certain questions are purposely made to be impossible to do within the time limit that you have, so your best bet would be a guess. Now I may be an idiot or some sort, but I highly doubt anyone is scoring 100 & 100 on both, given the time constraints and everything. Plus verbal tests are very very subjective and the answers are very debatable. In fact I've seen the same test question on two separate websites and one had "cannot say" as the answer, whereas the other had "false"

I spoke to a couple people from my school that did internships in BBs the past few years and from what I've been told the recruiting period is usually the same for all banks and some banks even have superdays on the same day (if someone can actually confirm this please do)

If anyone is reading any investment banking books, the best ones I've read so far is the one by Rosenbaum and Pearl, and also "Investment Banking for Dummies" (please ignore its title lol, its a really good book with lots of examples). There's also the BIWS video series, as well as a couple of free YouTube tutorials which you can find (e.g. by Paul Pignataro)

If you go to www.glassdoor.ca you can find some detail info about the interview process for a SA spot in each bank in the UK (ignore the fact that its a Canadian website). I have a couple of more interesting links that I found which I will post later once I go through my bookmarks properly

Best of luck to us all!

    • 4
Jul 14, 2017

Wow thanks so much for the advice! And yes indeed best of luck to you!

Definitely very true re SHL tests, think they can often be overlooked, that's quite interesting re scoring!

Can't say anything about confirming superdays running side by side but I've heard second hand that a lot of BB's spring weeks intentionally clash or overlap, it would make sense to be honest.

And funny you should mention that, I actually have a digital copy of 'Valuations, leveraged Buyouts and Mergers and Acquisitions' by Rosenbaum and Pearl. I got it through a college society, yet to read in depth but think I'll give the one you mentioned a proper look over first!

Thanks again for the helpful links, will definitely give them a look and hope all can benefit!

    • 1
Aug 2, 2017

Yes guys, really do practice these tests in advance. For the 2017 SA recruiting at a BB I passed the final round/superday, but b.c. of accelerated recruiting I still had to do the test. Got sick over the weekend + not best prep ever since I did not expected it = fluked the test, no SA.

Sep 15, 2017

Sorry to hear about that!! So how much practice forsuch a test would you recommend? Is a weekend enough?

Thanks!

Sep 15, 2017

hello friend! Thank you for all your input!

I am a bit short on time and I have a question....I bought the jobtestprep pack that you suggest and I can say the material is quite a lot.

My question is how much preparation do you recommend is enough for the actual thing? For SHL tests for example there are many different packages.

Also,on the actual test for the application, how many questions is it normal to expect?

Thanks!

Sep 16, 2017

SHL and CEB tests are more or less the same and you need to practice them at least once a day in order to become comfortable with the time constraints that they have (1 minute per question). Jobtestprep's ones are really good and also the packages are more or less the same (especially with verbal reasoning, you will see for yourself what I mean)

There's a third test provider - talentQ and they are by far the toughest ones, they are also time limited but much much tougher to do. Jobtestprep has some TalentQ style tests but they are far from the real thing. I passed all the jobtestprep talentQ tests with a perfect score but when I did a practice test on talentq's official website I had horrible results

All in all, jobtestprep is good for SHL/CEB, bad for talentq

Jul 20, 2017

Anybody looking for a summer analyst "recruitment buddy"? I already met a few people from here that are also looking for summer analyst positions and we've been going back and forth in terms of what we've found out and tips and whatnot, it's really helpful, but the more people you meet the better

If anyone is interested, message and me and we'll link up

Jul 28, 2017

Hi, guys! I'm new here so I can not send private messages! I've doing a PE summer internship so I'm in London, if you want we can meet and exchange tips for Summer 2018 internships!

Aug 11, 2017

Hi JamesCapex, and stepinthearena, I'm up for accountability partnership of sorts! Would any of you like to meet up this September?

Jul 20, 2017

Deutsche opens late August / September for LON + FRA.

Very true about the SHL's etc. It is advisable to practice some beforehand. I remember the SHL website (?) offering a practice test (verbal + quant) which you can retake by using fake e-mails.

Allors!
https://assess.shlonline.eu/default?action=url&key...

Online tests also seem to differ in difficulty across some places which I found curious. Some are definitely impossible to do in time.

Jul 29, 2017

Okay great thanks for letting me know!

Yeh fair enough probably best to, aw definitely some can be a joke

Aug 13, 2017

If you make a dummy-account make sure you use a VPN. I was flagged for using multiple accounts by a BB last year and got my 2nd round interview revoked.

Jul 27, 2017

Anyone got the HireVue from Goldman? or got through dublicate screening at CS?

Jul 27, 2017

Applied for both GS & CS, did my aptitude tests for CS around a week ago, pretty straightforward questions. Haven't heard back from neither

Jul 27, 2017
stepinthearena:

Applied for both GS & CS, did my aptitude tests for CS around a week ago, pretty straightforward questions. Haven't heard back from neither

What kind of aptitude tests?

Jul 28, 2017

Great thread!

    • 1
Best Response
Jul 29, 2017

Hey guys. I have in mind creating a Whatsapp group to share tips and stuff about summer applications 2018. If you want, you can DM your number and I can create it

    • 8
Jul 29, 2017
Uvuvuevue:

Hey guys. I have in mind creating a Whatsapp group to share tips and stuff about summer applications 2018. If you want, you can DM your number and I can create it

Everyone should join this, we've got a good amount of people so far and got a nice discussion going

Aug 2, 2017

how would one go about joining this? :)

Aug 2, 2017

This sounds ideal! I'd like to be added but i also do not have enough points to DM! Any help would be greatly appreciated

Sep 25, 2017

Any chance I could be added to this?

Oct 24, 2017

Hey did you apply to BAML summer analyst or know anyone that did? And if so were you/they invited to complete the SJT test right away? Thanks.

Jul 29, 2017

Great idea!!

Jul 30, 2017

could you post the link here so anyone could click and join

Jul 31, 2017

Awesome idea! I'd like to be added but I do not have enough points to DM

Aug 2, 2017

same

Aug 1, 2017

I wrote you :-)

Aug 15, 2017
Real Marcus Halberstram:

I wrote you :-)

Count me in too

Aug 15, 2017

Would like to join as well!

Aug 17, 2017

Could I please join, too?

Sep 21, 2017

Hi I would like to join the group as well :)

Aug 31, 2017

I'd like to be added to this group! Thanks in advance

Sep 5, 2017

I'd like to be added if the group is still active, but I can't send PMs...

Sep 7, 2017

Hello- my first post!

Would love to be added to the group too!

Nov 6, 2017

Can you please add me to the group? Cheers

Oct 27, 2018

PLEASE Somebody send me the link to join the WhatsApp group. I can't DM either. Very useful thread.

Jul 31, 2017
stepinthearena:

Applied for both GS & CS, did my aptitude tests for CS around a week ago, pretty straightforward questions. Haven't heard back from neither

Hello :) May I ask how long after you submitted your application for Credit Suisse did you get asked to complete the online tests?

Also, I am aware that most deadlines are around November-December and banks recruit for about 2-3 months, so since Credit Suisse has already started and doesn't state a deadline, is it possible that applications could close before September?

Thanks

Aug 1, 2017

I did the online verbal test. Mostly reasoning, few numerical. A lot of difficult words if you're not an Eng native speaker. applied for the 2018 Off-cycle position

Aug 13, 2017

.

Aug 13, 2017

I got to do the tests immediately after submitting the app, I dont know when the deadline is, but with sending apps in general the sooner the better because its on a rolling basis

Jun 7, 2018

.

    • 4
Aug 29, 2017

Sorry for the late response, I was travelling for August so have been a bit off the radar! I am updating all the IB's now, and will add in the key BB's and maybe MM's later this week! keep an eye out

Aug 6, 2017

Do you know which banks accept final year students for SA?

    • 1
Aug 10, 2017

Most banks tend to be flexible when it comes to this, so I wouldn't worry as much

Aug 15, 2017

hello my friend! Can you please elaborate on this a bit? Are you sure about this? I have seen that a lot of banks state that they want PENULTIMATE year students.

Also,I have another consideration...I have noticed that for some banks the SA internship overlaps with the beginning of the FT graduate programme (training in NY etc...) If someone does a SA internship how can he later convert into FT when the other are already ahead?

Does anyone know? I will be a one year MSc student so i am interested in this :)

Thanks!

Aug 11, 2017

How did y'all deal with JPM's app form? Claims you can write 300 words but caps you at 1500 characters for both questions.

nobody is as dank as me

Aug 14, 2017

those monkeys in programming counted "&" as five characters. a skipped line as 2. when you delete a skipped line and skip another line? that's another 7-15 depending on how the system feels. had to carve up my beautifully word-smithed 300.

    • 2
Aug 14, 2017

Exactly - it's pretty much a joke.

nobody is as dank as me

Aug 22, 2017

It's the first proper test - you have to show you can adapt

    • 1
Aug 11, 2017

Anyone heard back from GS? And from JPM?

Do you know if JPM is recruiting on a rolling basis?

I've applied to a position which is in my country ( no U.K.). Let's suppose I receive an invite for an interview. Will I be interviewed in English or in the local language? Does anyone have any information about this?

Aug 13, 2017

More than likely the local language but your job will be 2/3 in English and 1/3 in your native language, that is at least what I was told by a couple of my friends from France

Haven't heard back from a single back, nor has anyone else from our WhatsApp chat

Aug 15, 2017
stepinthearena:

More than likely the local language but your job will be 2/3 in English and 1/3 in your native language, that is at least what I was told by a couple of my friends from France

Haven't heard back from a single back, nor has anyone else from our WhatsApp chat

Any chance of being added to this chat?

Dec 14, 2017

I know its late but would be very interested in joining this chat as well! :)

Aug 13, 2017

Pretty sure they'll start reviewing applications in September. Many people are still on holidays.

Aug 14, 2017

Also you can still edit your application, think this will change once they start reviewing.

Aug 15, 2017

Does anyone know what hours are like for interns in London?

Aug 15, 2017

Most have told me 70-80 but especially MDs have said more laid back than NYC.

    • 1
Aug 16, 2017

Thanks! I am assuming that means 8-10 hour days on weekends too?

Sep 2, 2017

80 to 90 and can go up 100+ for the best TMT teams. Heard EBs are pretty laid back in London in terms of team spirit and there is much less facetime than the same boutiques in the US (Think Moelis/HL/Evercore)...

Aug 16, 2017

What are the questions asked for the applications for JPM? (S&T)

Aug 16, 2017

hey guys, awesome thread btw,
I was wondering. How do firms or applicant tackle the recruitment cycle when they are about to do an exchange minor to a different continent? I am going to China in September and assume no bank will fly me over from China to London and back. Can I get an SA offer without having a superday?

Aug 16, 2017

With London's Assessment Centres? I doubt it.

Aug 17, 2017

They might fly you into HK. GS, UBS, and MS have great presence in Beijing and Shanghai also.

Aug 17, 2017

Deutsche is now open.

Also, can someone PM me with a way to join WhatsApp?

Aug 17, 2017

Same here. Can someone PM me please ?

Aug 17, 2017

Could someone pm me as well please. Thanks

Aug 17, 2017

Same here, pm plz

Aug 25, 2017

Can someone let me know how to join WhatsApp chat

Sep 24, 2017

I would like to be added to the WhatsApp group as well. Could someone PM me as well with the way to join? Thanks

Aug 17, 2017

BAML seems to be open boys

nobody is as dank as me

Aug 17, 2017

I only see USA open. Are you on their website?

Aug 21, 2017

Yes I am. Not applying to that though. Weird thing is that it says: Apply by 31 March 2017

https://campus.bankofamerica.com/careers/Global-Co...

nobody is as dank as me

    • 1
Aug 17, 2017

anybody heard back from Deutsche post numerical?

Aug 21, 2017

No nothing yet. Hopefully within the week, given it is usually a robotic response.

Aug 21, 2017

There's a numerical from Deutsche, did they send it out to you immediately?

Aug 21, 2017

yeah like 10 mins after, but heard nothing after i completed it (i.e. no verbal invite - wanted to make sure i didn't screw up)

Aug 17, 2017

Hi,
Can I please get added to the wsapp chat?

Aug 21, 2017

JPM's first AC is set for late September

Aug 22, 2017

Any news from GS?

nobody is as dank as me

Aug 22, 2017

Don't think it is rolling, so don't be surprised if it takes until October.

    • 1
Aug 22, 2017

Can I get added to this whatsapp chat? cheers

Aug 22, 2017

Hello everyone.
Submitted my JPM app yesterday and when I go to check the application center it does not appear anywhere.
Any of you who applied to JPM can comment on this?

Aug 22, 2017

Haven't received any online tests either which seems odd.

Aug 23, 2017

JPM and GS do not have any online test

    • 1
Sep 13, 2017

hey, were you able to resolve that issue? I have the same problem and I have not received an answer after having emailed yello & JPM recruiting.

Sep 13, 2017

I got an e-mail from JPM that they still review apps (it's wealth management though)

Aug 24, 2017

When do the interview rounds usually start? CS's website says that screening will begin in October. What about the other banks?

Aug 24, 2017

Anyone applying for off-cycle internships?

Aug 24, 2017

Hey guys ! Do some of you come from diversified backgrounds ? My background links me to a specific industry, should I state that in my application or should I keep it open to any industry ??
I am completely lost, I was also wondering if you could recommend website that are exhaustive in the assessment centre preparation and small boutiques that have SA programs ? I think that it would be best for me to prepare small boutiques before jumping into the big banks.

Thanks a lot !!

Aug 24, 2017

Mergers & Inquisitions is probably the website with the most exhaustive interview prep out there.

For your other question, depends on the industry, but your chances are fairly slim if you do not have a finance background. Not impossible though.

Aug 24, 2017

ibanking.com is good too. Can find free copies of Rosenbaum and Pearl online as well.

Don't think you need a finance background per se for SA roles, although it does help (I come from a legal background but have recently shifted to finance (including some finance experience)).

Aug 24, 2017

Hi all, I've just been reading the thread and must say it's really informative! I was just wondering if I could also join the Whatsapp group? Just joined so can't PM yet so if someone could help me out that would be great :)

Aug 26, 2017

.

Aug 26, 2017

Does anyone know what test provider Deutsche Bank uses for their assessments, plus what assessments do they require you to take for 2018 IB summer internship. Cheers

Aug 31, 2017

Think its SHL for DB. When did you get the online test btw? Submitted my application 2 weeks ago and still haven't got their online test yet.

Aug 31, 2017

Had the test sent last week, so you ought to get a invitation soon i should think.

Aug 28, 2017

Dinged from Lazard on the situational test.

    • 1
Aug 28, 2017

Me too, and I was extremely surprise.

Aug 28, 2017

Same - how do you even prepare for SJTs

    • 1
Sep 7, 2017

I've only received an invitation to the verbal reasoning test. Do they send out an invitation for the SJT upon completion of the verbal test?

Aug 29, 2017

how long after submitting were you sent the invitation for SJT?

Aug 29, 2017

1w

Aug 30, 2017

Applied to BAML a couple of days ago and still haven't got SJT - anyone else had this problem?

    • 1
Aug 30, 2017

same here - don't worry

    • 1
Oct 24, 2017

hey did you end up having to complete the BAML test? Did you get contacted? @b-squared

Oct 24, 2017

hey did you end up having to complete the BAML test? Did you get contacted?

Sep 1, 2017

Any news from GS?

nobody is as dank as me

Sep 2, 2017

Nomura is open

Sep 2, 2017

Nomura opened yesterday and seems like there are looking to fill AC spots as fast as possible this year. Don't lag around !

    • 1
Sep 4, 2017

UBS is open

    • 1
Sep 4, 2017

thanks mate!

Oct 27, 2017

    • 1
Sep 4, 2017

Rejected too.. why are you saying there's a mistake?

Oct 27, 2017

d

Oct 25, 2017

You simply failed that mate...get over it.
if this is the attitude when you have failures, better you change industry

Sep 4, 2017

Anyone done the UBS sonru interview? I would highly appreciate to know the questions and I have valuable information in exchange.

Sep 5, 2017

Looking for the UBS questions too. I'll be grateful forever and give any future useful information.

Sep 5, 2017

UBS testing was a fit questionnaire, and then a numeracy test, using percentages and rudimentary calcs. But I think I bombed it due to the per question time limit rather than an overall time limit.

Sep 5, 2017

MS just opened for London

Sep 5, 2017

any news from Lazard?

nobody is as dank as me

Sep 5, 2017
dank.knight:

any news from Lazard?

applied on Friday, haven't heard back, presumed that might be a rejection or are the tests not instantaneous?

Sep 5, 2017

Give them some time mate!!!

Sep 5, 2017

not instantaneous. applied last week and was just invited to test

Sep 6, 2017

meant the video interview - does anyone know when they're running ACs?

nobody is as dank as me

Sep 6, 2017

submitted on thursday - still havent heard back!

Sep 6, 2017

nvm just rejected lol

nobody is as dank as me

Sep 7, 2017

I've just received the invitation for the Verbal Reasoning test from Lazard. I've read that in your case guys they have sent a SJT.

Do they send one invitation at time? I mean: when I complete the verbal reasoning test, if I succeed, are they going to invite me to the SJT/numerical/ whatever it is?

Sep 7, 2017

hello guys, any news for DB london summer prgm?

Sep 7, 2017

Received and passed the numerical.. a friend of mind has received invitation for a first interview

Sep 7, 2017

Thank you Patrick for your reply!
Do you know when did he receive it?

Sep 9, 2017

Guys, what is the Talent Assessment in the BAML application? Does it require preparation?

Sep 9, 2017

Anyone else think the numerical test for UBS was really difficult?

Sep 9, 2017

pass mark is particularly high too from what I have heard

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