SA Offer Decision - FT Partners SF IB vs. BB NYC ER
Hi all,
Been a long time lurker but finally made an account because I wanted some advice (and hope to contribute in the future at some point). I've been fortunate enough to receive offers for FT Partners IB in SF and BB ER in NYC (Barcap, CS, Citi) for the Summer of 2020. My ultimate goal is to go into IB in the future at a BB or EB. Which one of these would set me up best for FT recruiting for IB in SF or LA?
Any advice is much appreciated! Thanks!
FT
What do you mean that you want to do IB in the future? FT Partners SF IB is very much IB. It's much easier to go from one place where you're doing IB to another place where you're going to be doing the same sort of thing than to be jumping into a pretty different job even within the same company.
FT Partners SF IB offers a really great foundational IB background and if you were really trying to say that you want to do IB at a top/prestigious place, then you can just work for a year or two at FT Partners and in the meantime, be networking and interviewing. Then, you can leave for that position when you get it. In the meantime, your work at FT Partners will prepare you to succeed and do well in your next IB jobs wherever you end up getting into.
Have heard terrible things about FT's culture and know there were a couple threads recently discussing the horrible analyst experience. I agree with other posters that if you want to do IB, then it makes the most sense to join an IB firm, but having supportive colleagues and mentors goes a long way as well. FT is a great place (culture aside) if fintech is something you want to do, but it is a pretty niche sector. Can you try and leverage FT's offer with other banks?
He said he wants to go into IB in the future. If he doesn't like FT, he can just lateral to another bank or opportunity. Pretty normal, especially in a world where people jump jobs all the time.
FT and then try to FT recruit to BB/EB SF
Take FT
internal mobility at the BB you're at will be easier than FT recruiting at top BBs (when I was FT recruiting at GS/MS they waited to complete internal mobility process before starting FT interviews) so thats a factor to consider
This. Also, ER is good training which bankers respect and fairly close in many ways to what banking analysts do (def a lot closer than S&T) and I think you could make a compelling internal lateral candidate.
This is not as easy as it seems. Sure, there is definitely internal mobility at big firms but only some people are able to transfer. The biggest problem is that for a summer internship, you have to be very subtle with how you bring up the topic of internally moving. If people find out way before the opportunity comes up that you have been aiming for IB this whole time rather than ER, then you are less likely to receive an offer from ER. Then, you are really screwed. This whole politics can get really tricky.
Also, keep in mind that there are going to be a lot of people just like you who are thinking of using internal mobility to move to IB. I had some friends who worked at various BB banks in non-IB positions their junior summers ranging from corporate finance to S&T and a good majority of the people in each division were trying to go into the IB/S&T divisions of the bank. So the competition to get an interview at all through internal mobility can be pretty difficult.
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