Comments (22)

Aug 21, 2013

Mine wen twell. Did not receive an offer unfortunately, but only because they didnt have space. Was told they would forward my resume to any part in the bank straight to the HR so it turned out well since I didnt love what I did anyways.

Aug 21, 2013
jiggider:

Mine wen twell. Did not receive an offer unfortunately, but only because they didnt have space. Was told they would forward my resume to any part in the bank straight to the HR so it turned out well since I didnt love what I did anyways.

Pretty much same here. Worked in a BB in a PE division, but was in a regional office. I actually loved the work, hours wern't nearly as bad as banking would have been, and I learned a lot. Unfortunately, they only have 3-4 FT analysts and they said they couldn't extend offers. I have a great relationship with some of the guys, including the MD, and they said they'd help me out should I want to reapply for another position. Would have loved the offer in hand, but theres no way I would have stayed in that specific division anyways.

Advice to future SA applicants, in my opinion office fit is a huge consideration. It's important to think about what type of person you are and what type of environment you want to work in. Banks have distinctly different personalities, so be mindful when applying and (hopefully) accepting offers. Liking the people who work around your is really really important.

    • 1
Aug 21, 2013

can't believe s.a. stints are wrapping up already, you guys are growing up so fast

WSO's COO (Chief Operating Orangutan) | My Linkedin

Aug 21, 2013

My summer went a lot better than I thought it was gonna go. Learned a shit ton more than I ever thought I would, and got pretty close with the guys I worked with.

I didn't get a return offer, but it was sort of a mutual agreement between myself and my Sr. Analyst because A) we both understand that I'm just now gonna be a sophomore, and I want to explore other options, and B) they're hiring a new associate soon, and if I returned my work flow would probably be 1/3 what it was this summer.

I'm not even in the slightest bummed about it though because my experience has gotten decision making level guys at two top-MM banks to either flat out tell me they could make things happen for next summer, or refer me to someone at another firm that could do something for me.

    • 1
Aug 21, 2013

Cool experience. Got the return offer and was ranked top of my class. Enjoyed seeing my classroom education translate into the real world, and I learned a lot about how to thrive in an actual corporate environment.

Don't think any of these are actual groundbreaking relevations, but if I had to give advice:
1. Eat your shit sandwich with a smile.
2. Use all your seamless. If you're going to get wrecked on a daily basis, might as well enjoy your dinners atleast.
3. Be curious about the bigger picture and ask questions. Doing your bitchwork well is a given, but being able to see the big picture and understanding how your bitchwork contributes to the process is something that separates you from the corporate drone interns.
4. Eat your shit sandwich with a smile.

Learn More

Side-by-side comparison of top modeling training courses + exclusive discount through WSO here.

Aug 21, 2013

I have learned many things, but one thing that I really want to share with WSO: Although I think banking is definitely right for me, I have learned that it is not all that "glorious" as I originally anticipated when making those 1,000+ networking calls/cold-emails.

"An investment in knowledge pays the best interest." - Benjamin Franklin

Aug 21, 2013
StudentLoanBackedSecurities:

I have learned many things, but one thing that I really want to share with WSO: Although I think banking is definitely right for me, I have learned that it is not all that "glorious" as I originally anticipated when making those 1,000+ networking calls/cold-emails.

I completely agree with you on that, it is definitely not what it's talked up to be. Extremely glorified position.

I learned a ton during my SA stint and got really close with my analyst staffer. I started off pretty slow and by the 3rd week everything started to go smoothly. I was offered the opportunity to return next summer (rising junior), which I'm probably going to use as leverage during SA recruiting this year.

One thing I noticed during my stint is, these guys are being paid to make calculated judgments. As mentioned a number of times before, it is not God's work, but you can definitely notice from the seniors who's really kicking ass and who's just "ehhh". Banking was cool but the level of ass kissing I notice from being on some of these client calls are absurd, MD's and VP's become "yes men" for everything the client requests.

It was definitely a great experience nonetheless, being out in NY, though it sucked because I am not 21 yet. I still had a lot of fun and was able networked with some of the alums working in the city.

Aug 21, 2013

@studentloanbackedsecurities you are totally right. While it was an awesome experience it truly is doing a lot of shit and putting in a lot of hours. That being said, it was completely worth it and it only reaffirmed my desire to enter the industry FT

Aug 21, 2013

I worked in a very small boutique M&A (UK). I didn't mind the long hours and I loved the work because it kept me busy all the time. I was the only one asked out of all the interns to stay around for a couple more weeks to see a deal finalise. The guy I worked with insisted I joined them again next summer and told me he was impressed by my work.

From what I learned this summer, my advice would be to just dig in. As long as you're a curious self starter who's not afraid of the deep end, and as long as you do everything your told to the best of your ability, with a cheeky smile on your face, you'll be more then fine. Top tip: make it a habit to go to bed early and wake up early everyday of the week, it'll grow on you and you'll be happy you can do that.

Just... care.

'Corruption? Corruption is government intrusion into market efficiencies in the form of regulations. That's Milton Friedman. He got a goddamn Nobel Prize.'

Aug 21, 2013

Disclaimer: Created this username to the keep anonymity of my other username.

Stint went well and was ultimately extended an offer. I will accept because I definitely enjoyed my experience plus the people I worked with. Here are some quick observations I made during the 10 weeks:

1) Attitude: At the end of the day, you'll most likely be judged by your attitude. One senior banker outright told me something along the lines: "Obviously, we don't expect you to come in here running full models so we judge on you on your attitude towards the work." Think this is echoed by the sentiment "Eat your shit sandwich with a smile."

2) Make yourself known: Another comment made to us by another senior banker at the beginning of our internship. Once the 10 weeks are drawing to an end, you'll be evaluated. It is difficult for people to pound on the table and back you if they don't even know your name. Politely ask people to lunch or to grab a coffee. Ask about their story / what are they working on. If you make a genuine effort people will notice.

3) Develop relationships: Goes along with number 2, but if you ask someone out for coffee then follow up and progress the relationship. I think this is where most people go wrong especially in networking situations. Quality over quantity in this category.

4) Thinking different: Lastly, you might have to change your mentality. I think we're so accustomed to receiving a task and burning through it that we fail to see why we are doing it. If asked, you should confidently be able to state why this chart is on the slide or what company X does. Anyone can recite a deal sheet, but to understand the drivers for the deal is what separates candidates.

I might a thread to elaborate on the above points. Anyways, congrats to those who survived the summer.

    • 1
Aug 21, 2013
dbroncos23:

4) Thinking different: Lastly, you might have to change your mentality. I think we're so accustomed to receiving a task and burning through it that we fail to see why we are doing it. If asked, you should confidently be able to state why this chart is on the slide or what company X does. Anyone can recite a deal sheet, but to understand the drivers for the deal is what separates candidates.

That right there is key. ALWAYS make an effort to understand what your task is and the purpose behind it. Instead of just pulling XYZ info, understand the reason behind why you're doing it and how will it contribute to the project.

Aug 23, 2013
dbroncos23:

I might a thread to elaborate on the above points.

if you do please pm me the link so i can homepage, thanks

WSO's COO (Chief Operating Orangutan) | My Linkedin

Aug 21, 2013

Went in a sorry-looking scrub, came out a man.

Aug 22, 2013

I finally got to see what the hype was all about - it was a lot more PPT formatting than I imagined. The technical exposure my group gave us through training sessions + homework + projects was definitely awesome for helping us understand everything on a functional level. As a finance major at a target school, I frequently found myself not knowing wtf people were asking me to do but, as an intern, I had to learn really, really fast - my offer depended on it. Almost nothing I learned in school helped me on my first day on the job when a Director asked me to build a DCF with an NOL addition/utilization schedule applying the IRC 382 rule on NOL limits. For a regular analyst that sounds decently simple but to me (and probably the undergrads on this forum) it sounded like straight gibberish. I was able to figure it out and the Director was so impressed he wrote to the group heads and raved about me so I basically got the offer from Day 1. Needless to say, I still busted my ass for the whole 10 weeks.

Aug 22, 2013

Got the S&T ft offer :)

From a non-target ;)

Because when you're in a room full of smart people, smart suddenly doesn't matter--interesting is what matters.

Aug 23, 2013

It went well recieved strategy offer at a large consultancy. However going to apply to other firms as well during upcomming recruitment season.

Apr 25, 2014

bump

Aug 23, 2013

Got a return offer to work as an SA next year (I'm working for a Canadian Bank's Pricing Group) but want to try something different. Students are still young, so try to do different things. I love my group to death though.

Mr.Mathie | Ideas are nothing without execution - Jeux de Commerce Central

Aug 23, 2013

Definitely learned a lot. The more senior people do ask for a little too much sometimes. I had a few mess ups and were stupid mess ups...

They actually offered me to work part time during the Fall semester so that is pretty awesome. I accepted and will see how it works out with school.

Aug 23, 2013

Had a good experience but figured out after the second week that the division was not a fit for me or them. Left on good terms, had great performance reviews, and have a couple of MD's willing to back me for whatever I end up going after for FT (probably IBD). Lastly, not a fan of NYC whatsoever..take me back to Chicago and B1G coeds.

Aug 23, 2013
Comment
Aug 25, 2013
Comment