I'm currently interning at BB with prospect of FT offer (I find out in 3 weeks). However I'm from the UK , grad recruitment has started and I'm starting to apply to other firms in case I don't get an offer from the current firm I'm interning at. I think it's important to be prepared. My question is how do you find out which banks are good in each individual sector (FX,Rates, commodes, equities). I'm currently using the avenue of euromoney awards etc. I'm interested in macro trading so mostly focusing my apps on those banks. From what I know Citi, DB, Barclays are main macro players? Any advice would be much appreciated
Trending Content
Career Resources
I'd say you are generally right with the 3 banks you listed. JPMorgan is likely up there as well. Tough to really get great rankings, although I think Citi posted something that is probably 2-ish years old now, but probably provides the best insight into specific products. I lost all my bookmarks and don't have it, but it's posted on this site somewhere. JPMorgan also released something more recently with projected performance figures which is here and is pretty useful, albeit a little bit more tedious to read:
https://mm.jpmorgan.com/stp/t/c.do?i=5930E-12&u=a_pd_558208.pdfh_-2igf3ms
One thing to keep in mind is that although everyone wants to be at the "best" bank for any specific product, make sure the fit is right--I honestly can't stress this enough and I don't think people put enough weight into it. You can be at the top bank in any given product, but if you hate life there, you'll probably underperform and quit/be shown the door.
Also keep in mind "best bank" is usually ranked in terms of deal flow and market share and less geared toward whether your boss will actually teach you anything or prepare you to make money. I know a couple of people at broker-dealers who are incredible traders/easy to work with but if I mentioned where they worked on WSO the only thing you can count on is me receiving monkey shit. I'm not naming names but there is a wealth of information from a few posters on this site that will likely teach you more about trading directionally than any internship will. Fact.
I know that you're fit with the team and the bank is very important but right now times are tough and it's not time to be picky. I want to work in a macro based trading role. If my current BB that im interning at does not take me then I will inevitably apply to all firms that are reputable in macro trading. It's not like I have the opportunity to be handed a 10 week trial at the best 5 macro desk firms and then casually choose the one I get on best with. That's quite simply deluded. Thus I apply to the firms that are decent and take what I get.
Bro you have no idea. This whole post is littered with oxymorons and also you aren't going to find a large investment bank that has good "macro trading" anymore. First of all trader limitations at banks are usually limited to whatever they make markets in, so even though your rates desk may get to trade EGBs or USTs, they aren't trading fx swaps or even other government bonds outside where they make markets. Second of all, you have no idea what firms are reputable in macro trading since you have no idea how good any of the traders are since there are no services that rank p/l of individual traders at investment banks and nor will there ever be. Secretly I think you know this is a prestige question you just don't want anyone to think so and honestly that plan has failed in stunning fashion.
UBS also fairly big in fx and rates
Oh, so since times are tough you're only going to apply to the best firms...? You can't be picky but you only want to apply to the top firms? Right man. Whatever...
I was saying that a "top" firm is not necessarily what you should always be looking for, but you clearly don't understand that and have your ideas of what you want. You can learn significantly more about a firm from an interview than you think. But you probably know better, still being in college and all
assumptions about ones current previous experiences is the best you got? Yes times are tough but simultaneously you think I'll accept anything less than what I want to do if I think I stand even a modicum of a chance. If i get nothing then it's time to re-asses and fill a year until I shoot again. I may not have had as many interviews as you but I have had interviews at 12 firms and I can say from my own personal experience an interview with a few individuals not in the area or team you will be hired onto does not reveal much about a firm. If the interview was the desk and product area then fine but for the stage of my career these interviews do not occur yet they are more generalist.
Unfortunately I still don't want you in my analyst class next summer!
Genuinely puts a smile on my faces how quickly these threads descend into petty guys like you. Its pathetic man. I'm thoroughly heart broken you don't want me in your analyst class. I don't blame you, I'd make you look bad (cue. another pathetic response). Thanks for coming...
Maxime illum reprehenderit nemo non aut. Ut nobis reiciendis corrupti unde non quasi iure mollitia. In dolor omnis exercitationem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...