Temp offer dilemma, IB retail internship vs prop trading trainee scheme

Good day,

I have recently graduated (Math major) and did an M&A internship, which finished in new year. Since I didn't enjoy it and would like to go into something more analytical personally, I decided to get into S&T.

Now I have had a 2 month gap on my CV, and am looking for something to do, while I continue interviewing with BBs and the like for S&T off-cycle internships. The two offers I need to decide between are:

1) Retail investment product management for private and institutional clients at Deutsche Bank in Frankfurt

2) Prop trading trainee scheme at an unknown shop in London (along the lines of Futex, Met Traders etc)

Both would be temp roles until I can get into a BB, which would you recommend? I heard that prop trading is a CV-buster for the banks and has almost no exit ops, which is why I am a bit wary about accepting the prop offer. Otherwise I would most certainly go for it and do think I would enjoy it.

 

I used to be based in London (well, I started there). Take the proper job. The second choice is not a job - it's (or leads to the position of) a self-employed trader. I know some who run those prop shops. They can't teach you much and working there will take you further away from BB (or tire 1 banks). I have heard of this guy from Institute of Trading and portfolio management. I can't believe these boiler room guys are now calling themselves new breed of investment bankers (clearly not corporate financiers). Even if your S&T gig doesn't work out, the first option gives you a safety.

 

Hey J-phone,

thank you very much. I have already accepted Deutsche Bank, but I was wondering whether it was worth changing my mind. At least I will get a salary and a respectable firm to work in for now, besides potential exposure to one of mainland Europe's biggest trading floors. Regarding the guy running the Institute of Trading and portfolio management, I think you mean Anton Kreil. I thought he was fairly respectable based on what I saw on TV, (though I agree the guys who run prop shops seem rather dubious...)

 

If you want to get into hardcore analytic stuff, there are always HFs. If I remember correctly (when I was in London last time), Winton Cap has been recruiting for junior positions for some time. Man are not doing well, are they?

Glad that you accepted Deutsche. I think you will enjoy Frankfurt.

 

Facilis eveniet reiciendis porro hic sit aut iste. Itaque dolores voluptatem et occaecati. Nemo quis et ullam aperiam iste quis esse minima. Est quia totam molestias temporibus saepe ut. Non id reprehenderit ab mollitia dolor. Eos ipsa ullam dolore sunt eum.

Non voluptatem non voluptatem est. Et recusandae nemo earum. Voluptatem possimus est dolorem dolor ut quo. Enim enim dolore quis ut. Aut asperiores incidunt magnam vitae doloribus.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
kanon's picture
kanon
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”