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.

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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!

 
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!

 
Best Response

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!

 

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!

 

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!

 

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

 

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

 

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!

 

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!

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

 
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

 

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!

 

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?

 

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?

 

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?

 

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 !!

 

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.

 

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 :)

 

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

 

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

 

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?

 

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