Off The Beaten Track - Summer Ops Intern - Tier 1 BB PB Analyst - Tier 1/Tier 2 BB Senior Analyst S&T

Taroon007's picture
Rank: Baboon | banana points 133

Wanted to use this opportunity to give back to the community, and let people know that you can always transition careers on Wallstreet.

I graduated from a semi-target top public university, but virtually a non-target for S&T. The prior summer during my junior year I was not able to secure any great interviews but got a offer from a top BB in their S&T middle office. I knew I was not going to take the offer full-time if I got it start cold-calling people during the summer (during my lunch break or immediately after work). Realized that it would be hard to transition to S&T, I figured the next best thing would be PB given that you would get exposure to markets. Cold-call/cold-email over 40 bankers over my summer internship (never met any of them) which ended up getting me interviews at all the Top BB for their PB/PWM analyst-programs. I think what helped was that I showed them my willingness to hustle and to build relationships.

After a year in PB, I felt that I had enough experience to move to S&T. Again repeated this process before but I emphasized my knowledge on the markets. It was tough to move internal given how different the lines of business were. I reached out to friends who were at different banks and were able to refer me in. My interviews consisted of market technicals (product knowledge and broad based economic questions).

Now I am prepping for business school as I am looking to move to a buy-side hedge fund. More than happy to answer any questions on networking, how to transition across and general comments on the industry as a whole.

Comments (5)

Nov 4, 2018

Hi Taroon007, check out these threads:

  • International Student to Bulge Bracket Bank a second diploma in the USA- it's a dual degree program to be finished in 4 years (two in my ... M&A Summer Analyst at the third largest investment bank in my country- and the largest boutique-, in ... International Student concentrating in the Finance field aiming to work for the lo
  • Top REPE (Real Estate Private Equity) to Bulge Bracket Investment Bank during OCR Fall 2012 FT recruiting is not too far from today. I have been working as a summer analyst /summer intern at ... scratch that show variances of different metrics (like the ones above) from two different time periods ... through BB IB OCR recruiting at my west coast semi-target. I am an incoming senior. From what I explained ...
  • Travailler dans une boutique ou pour un bulge bracket? Autumn has arrived. For those seniors fresh off their summer analyst stint or juniors gearing up ... way to categorize banks is either as a "bulge bracket" or "boutique." We all know ... the bulge bracket firms, so historically, "boutique" referred to any firm that was listed ...
  • Local Bulge Bracket Internship at an Overseas office or Local Internship Bulge Bracket execution trading) with a Bulge Bracket locally. Note: This is not SA, just a professional attachment summer ... programme, usually for first and 2nd years Which would you advise for someone who wants to do IB? Note: I am ... (Equity Sales) in one of the world's dominant financial hubs with a bank that's highly prominent ...
  • Official Investment Banking Rankings: Boutique and Bulge Bracket Prestige This is for IBD in the US (NYC specifically) and as of November 2014. Bulge Bracket & Large ... much-- will value a bulge bracket experience, because they don't know what some of the ... your bankers to better private equity jobs because of their contacts. Investment Banking Tiers Tier 1: ...
  • From <2 GPA, to Bulge Bracket and Hedge Fund their office to the new location across the street. And me, as an summer intern, has spent a sweaty ... a porter, to hedge fund intern, and finally, a bulge bracket intern **Yet after going back to school, ... interview for an internship position for a bulge bracket bank. Perceiving it more like a office visi
  • Wealth Advisor Salary at Bulge Bracket Banks I have heard from a MD at a top BB that the average annual compensation for a Private Wealth ... charge high fees (basis points) is it likely that you can make in the $3-4MM range? Senior Private Wealth ... which is easily on par with senior BB MDs in IBD and S&T. If you manage lets say $2 billion and ...
  • Bulge Bracket Gossip- Am I at risk? Hi guys- I am an incoming IB summer analyst for a mid-tier BB in LA and attend a semi-target. ... many other banks. The past month I have been reaching out to guys that work at some EBs or other BBs to ... ask for advice on preparing for the summer as well as learning about their experience at their ...
  • More suggestions...

Hope that helps.

Nov 16, 2018

Hi Taroon,

I'm in a similar position, about to graduate from a semi-target top public university but definitely not a target for Sales & Trading. This past summer I worked in banking at a MM European Bank and I tried to cold call people during lunch and after work but none of my cold calling helped me in terms of getting any interviews. I was mostly focusing on S&T people so I guess my question is should I shift my focus to PB/PWM Analysts and would it still be worth reaching out considering recruiting is pretty much done now?

Nov 17, 2018

@abrands From when I recruit for PB several years ago most of recruiting at the large banks would have completed around Nov/Dec. I would still reach out to people as sometimes they might have ad-hoc recruiting to fill seats in the class (especially true at a regional offices outside of NYC). I would also explore the option of potentially postponing graduation by a quarter or semester to give you a second shot at recruiting (this should only be a last resort).

Nov 17, 2018

Have a couple of questions

  1. What product?
  2. Sales or trading?
  3. How long have you been in S&T?
  4. Why are you looking to leave?
  5. What did you think of your PB experience, been in S&T for 5 or so years thinking that is a logical next step when I get replaced by a computer. Did you see any more senior guys in PB who had worked in other areas of finance?
Nov 17, 2018
Comment