Senior-year FT IB offer from Private Banking SA

Hello all! I am an incoming Private Banking Summer Analyst (junior summer) at a BB. I like that it's a client-facing role, but I personally fear that it won't set me up with much other things besides Private Banking/PWM/AM, and I want to make the most of the beginning of my career. Of course, there are aspects of Private Banking that I like (such as the relationship-oriented and more generalist focus it has), so I definitely intend to make the most of my summer internship.

Some info about me:

I go to a target university with a 3.7 GPA, majoring in Finance. I had a Sales internship during senior year of high school. I have some great non-finance extracurriculars & leadership positions. I haven't had any college internship experience (COVID nixed my sophomore summer non-finance research internship), but I am currently networking to get an off-cycle IB internship (winter and/or spring) at a regional boutique before my junior summer internship in Private Banking. Also, my PB internship is NOT in NYC, so I will be able to be nicely more upfront that I won't be staying in my SA office for FT in case anyone is concerned about office politics (my life is in the NYC area).

While I am very well aware that it's usually SA -> FT, especially with Investment Banking, I wanted to get your thoughts on the feasibility/realistic chance of the following scenarios*:

1) Winning a FT offer from the IBD of my BB

2) Recruiting for a FT offer from MMs/EBs

3) Recruiting for a FT offer from a boutique

*This is assuming that I get an off-cycle IB internship at a boutique and do really good, and that I also do a great job at my PB SA internship.

(And as a follow-up 4th question - would it be better to instead start FT in PB and then try to lateral?)

Of course, I am willing to do what is needed to accomplish these things - networking, studying, professional experience, anything - I just wanted to know how possible these three options are, since I am aware that most IB FT offers go to summer analysts (which can be overhired). I know I will be fighting an uphill battle, so don't sugarcoat it.

Comments (1)

Nov 29, 2021 - 5:59pm

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