I have an offer from Goldman Sachs S&T in BOSTON and BAML S&T in New York. I am really torn here as I feel like Goldman has more name but NYC is the place to be. For more information on the roles, Goldman has only about 30 people on the floor, so I will just be shadowing all products over the summer where the BAML in NYC will have a rotation.
Any advice would be appreciated! The two things I stress are exit opportunities and prestige since I am a whore.
Thank you!
BAML. More opportunities to find full-time in New York I would think.
Yeah I don't think this is even up for debate. Prestige only goes so far in S&T and Boston is not a city for this kind of work.
But then why would they have it there? Just out of curiosity?
Yeah I would agree with everyone else. How long would you stress "name" at cost of other factors. Take BAML
The fact that you feel this is a decision to be made says something about you, OP, which you already admit - that you are a prestige whore. With that said, because you claim to be such a prestige whore, I recommend you accept Goldman's offer and see how that develops, because nothing teaches quite like experience does.
I feel like it's totally reasonable to care about prestige to a degree - as prestige is probably positively correlated with actually relevant factors like market share, quality of training program, even exit opps, etc. Of course this extends too far when OP is seriously considering sell-side trading in Boston over NY. More candidly, I would seriously consider the products you would trade at each bank as a much more significant factor into your decision than bank name.
Adding to this, no one who actually works in Finance would consider Boston S&T at Goldman to be even close to as prestigious as S&T in NYC at any BB. Laypeople may not be as impressed, at least until they find out what you get paid.
This was so well put
Searching for prestige in SnT? Looks like you're in the wrong industry and you're insecure.
No 1 gives a shit who you trade for, it's what you trade and size of your book.
As for posts about Sales slots getting moved, this is happening as we speak. Got an email from our UBS coverage and signature changed to Philly.
The Goldman Office in Boston is so grimey. Their Boston desk is also strictly SALES. They're all good guys though. Their Boston desk only gets 2 or so interns per year. I personally think you will have a better experience at BAML, but Goldman has the better name. Tough call...
EDIT: Allow me to emphasize how shitty the Goldman Boston office is, because it's truly laughable when compared to their other ones. The main room is really cramped and doesn't have air conditioning (at least when I was there), sits about 30 people, and on the side/back they have their program/electronic trading people. I spoke extensively with one of them and she sounded miserable. Then there are two huge offices in the back; one where their director of the office sits, and one for the guy who does prime brokerage. I also felt bad for their intern. That summer they said they had started with two, but one of them quit in the first week...turns out they realized finance wasn't for them about a week in. Their one intern that remained was literally given a folding stool like this and would just carry her stool around the office and sit with people all day (like a normal S&T intern--but looking back it just seems funny because there's only one person doing it). This is no diss to Goldman or the people that work in that office, but it just didn't seem that great from what I observed.
what sales desk is in boston?
Are you looking to do sales or trading? Boston will not have a trading desk, it exists to cover a few accounts. There are some good/big ones there, but unless you are particularly partial to Boston, ML hands down.
On a side note, is there any other location other than NYC that's good for S&T? Like chicago or SF?
London lol
Haha sorry I meant in states! But thanks either way :)
The only reason I'd take Goldman here is if you decide S&T isn't for you, and you want to leverage the name to get something else for full time. Keep in mind, nobody cares the name of your bank in S&T. Then again, BAML in NY= incredible opportunity to network with groups in NY, and could lead to another BB ft offer. My vote goes to BAML.
OP, what did you decide?
@failureoflife" All these comments seemed pretty one-sided. I figured they knew what they're talking about...I hope...I took BAML.
Thank you everyone for your comments. It was very helpful.
Good call.
But yeah, good call taking BAML. Will keep your options open in terms of products you can land at FT, will have more spots, etc.
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