London IBD BB SA Intern class

Hey fellow monkeys,

Sorry for using my burner account but the info below is quite useful.

I recently stumbled on my class list at my BB this summer and thought that some of you may be keen to known the breakdown. Will update this with conversion estimates late Aug.

In IBD purely (excluding ECM/DCM that have 9 interns total) there is 45 interns (summer analysts) in the london office, excluding 7 in regional offices that are coming from the following universities:

  • HEC Paris: 5
  • LBS: 5
  • LSE: 3
  • Durham: 3
  • Bocconi: 3
  • Warwick 3
  • Imperial College: 2
  • UCD: 2
  • Covenant University: 2
  • EM Lyon: 1
  • Solvay Business school: 1
  • Cambridge: 1
  • Oxford: 1
  • EDHEC: 1
  • ESCP: 1
  • St gallen: 1
  • Trinity dublin: 1
  • Kings: 1
  • CBS: 1
  • SSE: 1
  • erasmus University: 1
  • Rotterdam: 1
  • Lagos akoka: 1
  • St Mary's: 1
  • Obafemi: 1
  • Universidad Pontificia de Comillas: 1

Comments (25)

 
Aug 10, 2019 - 1:46pm

Just goes to show how tough it is to network in London's IBD from outside of Europe. Very impressive to see two students from Nigeria though.

Array
 
Aug 10, 2019 - 2:40pm

More than two from African countries actually. But from what I have seen from the previous years/people here for FT shows that the conversion rate is much lower for them. Probably around 40% due to cultural fit mostly.

Also networking isn't a thing at my BB, its alumni getting a pile or pre-screen resume by HR, and they do first rounds of interviews, before pushing people to a superday.

 
Aug 10, 2019 - 3:30pm

My understanding is that HR will give analysts/associates a pile of CVs for recruiting/interviews and they will invite people. They can push a number of people from their school to the AC and then its up to you to perform. But if you have no school alums you are basically fucked.
Spoke to a guy anout this how bristol used to be targeted but for 2 years they didn't hire any kid, which means no more first rounds so no offers.

My BB falls into the alumni driven type for SA recruiting, although networking is not a thing. Note that some people from schools with no alums make it to the spring week and can hence get to the SA this way. I think this is how most diversity candidates joined (the ones from African schools and quite a few girls).

 
Aug 10, 2019 - 3:26pm

Interesting to see the lack of people from the so-called European targets, no one from Germany for instance (although surely 1/2 in the Frankfurt office).
Also for french schools, surprised to see EDHEC/EM Lyon but not ESSEC.

 
Aug 12, 2019 - 12:22pm

Reality is DACH top performers go elsewhere...

Germans are not treated well across BBs in LDN right now... Usually, they are technically strong and hard working, valuable for every team, and native speakers for every deal which is in THE key EU economy (still...).

Equally, they are too apolitical, believe in meritocracy and are not good in internal bonding such as many other EU unis/bankers are.

Result is German sustainable headcount in LDN BB IBD is shrinking for years now. They are getting a nice ride by everyone else around them although still good cash is made with Germany :-D

No secret on the street.... :-D

 
  • Prospect in IB-M&A
Nov 23, 2019 - 7:20am

Tbh I still have some questions, for example my uni hast no alumni right now at BAML and last year we were offered 4 offers for SA and none took them (all went to JP/MS) so I am unsure about the need for alumnis, or maybe associates and analysts at BAML are ethical, in any case, one of our uni did also get an off-cycle position (which I believe are scarcer) without alumni, so it is still doable to get a position without any pushing (and no prior experience in IB).

Would like to discuss this with you if possible, could I send you a DM?

 
Nov 16, 2020 - 9:58am

Is this for summer analysts or summer associates? Just asking because LBS only offers masters programs and was wondering if the 5 were from their more experienced programs (MBA, mfin) which place as summer associates or from their early masters programs (mba) which places as analysts? 

Also thanks for your post this is super helpful!!

 
Nov 21, 2020 - 8:42am
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