No junior bankers

497crog

Senior Monkey

I did a BB S&T summer internship at a small regional office with ~5 VPs + a couple ED/SVP/MD across the entire equities team (FICC had like a 8 person team with MD->analyst spread out tho)

It means

1) the team has not hired any juniors in a while (obvs). I'd assume if they had juniors leave they'd try to replace them with laterals, but instead they'd been hiring VP level to replace VP/SVP level leavers (retirement, getting fired, etc). I know for a fact that they had interns before that didn't get FT return offers and there were no other analysts or even associates in the past few years (team was definitely getting downsized, like most vanilla equities teams)

2) they don't have as much "grunt work" as the main offices. our team was basically just coverage and that doesn't require as much "analysis" as it does just being on good terms with clients since much of the legwork was done out of the main regional hub (HK/London/NYC etc). During my internship the VPs handed off some menial tasks to me like morning meeting notes and passing around research reports but that pretty much takes no brains and even most VPs are not "above" doing that type of work since it takes like 5-10 minutes every morning. so I got a lot of autonomy except the occasional "need a quick analysis on this data/earning/etc" or "can you find my any news about this name, it's acting a little crazy rn". felt like I had more time for my projects than the interns in the main offices, but YMMV

3) not sure if it will be true for you but for me I basically didn't have any rotations, since our team was so small I basically interacted with everyone every single day. can be good or bad depending on whether you like the desk, but for me it was good since they all gave me lots of time and attention (much easier when you are the only cute lil junior running around wearing a tie)

4) definitely statistically harder to get a return offer since obviously the desk is not hurting for juniors (or actively downsizing) but still possible to get one (I did) if you show you are smart and hardworking, asking lots of good/interesting questions, and overall just pleasant to work with

Failed_son

Neanderthal

Thank you for sharing your experience that was really helpful!

1) Same for me as well they did have past interns but never a junior on their team. Most of the seniors worked at a BB previously

2) Can I pm you, I wanted to ask some further question

497crog

Senior Monkey

sure, shoot me a PM! happy to help

marcellus_wallace

Mentor

Human

Most Helpful

Means they use interns as cheap labour and keep rotating them. But they do not have a need a for junior basically and their product area is not growing/planning to grow. Would say you have minimal chance at a return offer but the team should be happy to put you in contact with other parts of the firm.

Workload wise depends on the product not sure the other poster experience is always the case. They could have you sending out daily emails, repeated tasks, etc that no one wants to do all depends on what product they trade.

Authored by: Certified Hedge Fund Professional - Portfolio ManagerCertified Hedge Fund Pro

Intern in S&T - FI

Anonymous

Thanks

LaneManu

Senior Chimp

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