Rank these divisions by how competitive they are for summer internships.
Hi everyone! I'm applying to summer internships next year and thought it might be useful for me and others to find out which divisions are the most difficult to get into. What do you think? The divisions (randomised) are...
- Risk Management
- Compliance
- Private Banking/Wealth Management
- Corporate Banking
- Investment Banking
Looking forward to your responses!
Compliance definitely the easiest and most boring. Please don't apply to compliance jobs. You'll thank me later.
Thanks for the insight! What I heard about compliance they're mostly being made fun of by the other divisions, don't need that!
I did Merchant banking myself, and I would put it in the same category as Corporate Banking and Asset Management, but that's just my experience. Again, this could be incorrect.
Personal views only. Related to my own applications and applications of my close friends. Take it with a grain of salt.
2 through 7 may vary depending on who you ask. IB is definitely the hardest and Compliance is definitely the easiest.
I'd say AM is harder to get than Corporate Banking
Interesting to see equity research being ranked so highly! Thanks for your insights. Other banks are also offering Merchant Banking internships (which is just a variation of PE, isn't it?), how would you rank those?
personal take:
1a. IBD (higher bar to internship, relatively lower bar to FT conversion - also most "popular" division, everyone and their mother wants to "break into" IB)
1b. S&T (lower bar to internship, relatively higher bar to FT conversion since less headcount etc)
1c. Research (similar competitiveness to S&T but headcount is few and far between)
2. Asset Management (assume OP is referring to real money shops)
3. Private Banking (at a BB - low bar to internship but VERY difficult to stay afloat)
4. Corp banking
5. risk
6. compliance (you're the black sheep and everyone hates you. echo above that its not a very viable career for peeps that visit this site)
7. "wealth management" (at a MLM shop e.g. NW mutual)
brotip: do something that you enjoy, not something that's the "most desirable" etc
Very interesting, thanks for the tip! How would you rank Merchant Banking in that list? Also, what's your take on starting out in a less competitive division and switching afterwards?
To me:
S&T (Specifically Rates)
AM (top institutional shop)
IBD
ER
CB
PB/MB
RM
Compliance
WM
(essentially it is highly dependent on your career goals so don't assume IBD is the #1 be all and end all for everybody as it is not).
Instead of trying to rank divisions by competitiveness, why don't you simply try to find out which one you find the most interesting?
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