SocGen S&T

qwedcxza's picture
Rank: Chimp | 5

i do know that SocGen is not the best company on the street, but it was all i was able to score for my internship.

so i wanted to clarify a couple of points about SGCIB (specifically S&T) -

  1. Conversion Rate - my HR contact stated explicitly that "an internship does not guarantee a full-time position and in fact that the two are independent of each other".
  2. Compensation - the internship package is not huge and on top of that i heard from a couple of alumni that SocGen pays much lower than the american investment banks.

so given the low conversion rate and less-than-stellar compensation package, should i accept the offer at SocGen? (my only other option is to settle for middle office). my ultimate goal ofcourse is to score a full-time job in front office.

thanks for all the help and advice.

christopher

Comments (12)

Apr 18, 2012

If S&T is what you want to do, then definitely take the S&T option and don't settle for a MO role. Maybe you'd have a somewhat higher chance of getting a return offer, but it would be extremely hard to switch back to FO later.

For what it's worth, I believe S&T conversion rates are quite low across the street anyways, even at top BB banks.

Apr 18, 2012

Dealt with them a decent amount but seriously? If its your only front-office option, take it and don't look back (assuming your looking to get into S&T).

Its an internship.

Apr 18, 2012

If you want to do S&T and you only have one S&T offer what's there to think about? S&T experience always trumps no experience, and SocGen might not be a BB, but it has a solid S&T business, especially in Eq Derivs. If you don't get a FT offer you have a year to get one at another place, and the internship should get you some solid interviews.

    • 1
Apr 18, 2012

Accept the offer! Your ultimate goal is a FT s&t role, you want to intern in s&T

Not sure on numbers regarding conversion rates or pay but I know SocGen is extremely strong in derivatives and have a good reputation there

Apr 18, 2012

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Apr 18, 2012

Take the S&T role

On conversion rate-of course they will say that FT is not guaranteed from your SA offer. They aren't going to guarantee interns a FT position before performance. That being said, I don't know what the numbers are for socgen.

As for comp-S&T will be higher than MO

Apr 18, 2012

I met with a couple of derivative traders there a few years ago; pretty bright guys. SocGen is nothing to sneeze at. If you're successful there, in no time you'll be able to go wherever you want.

Apr 18, 2012

If you have an offer from SocGen in equity derivatives, you obviously know what the deal is. Since this almost certainly isn't the case, you should just remember that FO at SoGen still beats MO at any bank.

Apr 19, 2012

I swear these kids are never going to learn...

Its not about how well-known your bank is, its about how good your group is.

That being said, Socgen is top notch in eq. derivs.

Apr 19, 2012

If you really need to think about this, you probably don't belong in S&T in the first place. Take the SocGen offer.

French banks are known to have relatively low conversion rates. The French education system ensures that they have a constant supply of interns that far exceeds the number that they can offer a FT position. Hence, hiring interns isn't that big of a deal for them.There are huge differences between desks but some of them rotate interns rather than having a proper desk assistant.

Just make sure you learn as much as you can and contribute to your desk. If it doesn't result in an offer you'll at least be in a good position to obtain one at another bank

Apr 20, 2012
Visico:

If you really need to think about this, you probably don't belong in S&T in the first place. Take the SocGen offer.

French banks are known to have relatively low conversion rates. The French education system ensures that they have a constant supply of interns that far exceeds the number that they can offer a FT position. Hence, hiring interns isn't that big of a deal for them.There are huge differences between desks but some of them rotate interns rather than having a proper desk assistant.

Just make sure you learn as much as you can and contribute to your desk. If it doesn't result in an offer you'll at least be in a good position to obtain one at another bank

+1.. SG is a solid trading player but go into the job with the mindset to learn and network as much as possible

French banks treat the Trading analyst/ Jr traders the same as they do in IB- Churn em and Burn em. That whole VI E crap pretty much ensures that they never have to keep young guys, despite how good they are. Which is certainly an issue, b/c you cannot build a business in this manner.

Nevertheless, a FO trading position is worth its weight in gold. I hate these MO vs FO questions... This industry, and especially S&T, is very 'in or out'. You are either in or you're out, and its very sticky in both directions (hard as hell to get in but not as bad once youre in there).

Apr 20, 2012
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