How to turn a summer analyst role into full time offer

I just got a offer for ML as a summer analyst within wholesale credit and I want to turn it into a full time offer. What are some advice and things I can do to impress my time? And, if I want to transition into DCM or ECM what should I do?

 
Best Response

From day 1, you're going to want to show a few things that would make people want to work with you in the future:

  • Be eager and always willing to do whatever work they throw your way. Doesn't matter if it's spreading comps, printing out a dozen bound pitchbooks, or running a case of diet coke up to the board room; you do it and you do it with a smile.

  • Ask questions if you don't know something, but not dumb ones. Rule of thumb is, if you can't find the answer in the first two pages of google, then you're free to ask your associate. Otherwise, try to solve your problems yourself or by looking at past examples (if you can, spend some time familiarizing yourself with past files your desk has worked on so you can hit the ground running when they ask you to take care of something).

  • Don't make the same mistakes over and over again. If you fuck up once, own up to it and ask for advice on how you can improve. After that, don't make the same mistake again. No one is going to expect you to be perfect when you start, but if you're making the same mistake after 10 weeks, that's not a good sign.

That about sums it up. You're in a really fortunate position and, in my opinion, the worst part is over. Just be enthusiastic and try a little bit and you should be set for the near future.

 

Agree with all that TripleInverseETF said.

Additionally, imo, take a conservative approach toward most things. Clothing - nothing too flashy, discussing partying/dating/politics/religion - don't, leaving early - not unless your analysts have, Etc..

You also don't want to be outwardly competitive with your fellow SAs - you should make friends with them... hopefully, most of you will be back, but you also have 10 weeks to give this your 100%, which is what you should do.

Lastly, if you plan on recruiting elsewhere for FT, do so quietly.

 

Echoing what everyone has said, the prudent approach would be to treat this as a 10 week interview process: not just as an interview process the firm will have to evaluate you, but also a 10 week interview to see if you would like to work there for the next 1-2 years+. The boards have a few sterling threads on best practices, but you should be set as long as you abide by the following:

1) Show good attitude and just generally be someone that everyone enjoys working with. Many folks I've seen who are truly outstanding were good with their technical skills and modelling, but complemented this with a fantastic attitude and were great to work with. Displaying positive sentiments and just being willing to help the rest of the team when needed goes a long way in others' perception of you as a prospective employee, and this initial first impression helps to mask errors if/when you inevitably make mistakes, because folks are more willing to give you the benefit of the doubt

2) Take ownership of your work and ensure that it is presentable before handing it in to an associate/VP. Set the tone early that you aren't someone that tolerates making mistakes, and that your work in kind will be of the same quality if they invite you back to be a full time analyst. Some things that helped me tremendously when I first got started were to i) print out everything I worked on, ii) taking a highlighter and marking changes and looking out for spelling/grammar/formatting mistakes and iii) if possible, see if you can get your fellow interns/analysts (if FT) to spot check with a fresh set of eyes to see if you missed anything.

3) Be open to learning new things and absorb as much as you can. This is applicable really to any industry. It may seem a bit overwhelming going from 0-60 and then around in a quick 10 week timeline, but there's an immeasurable amount that can be learned by going through the work and asking meaningful questions. Get to know the rest of the team on a more personal level as well, as they can be valuable resources to you whether you end up getting a return offer or leverage it into something else.

You can go quite a long way in this industry or others by being courteous, hard working, and not taking yourself too seriously. Applying these fundamentals will ensure you get the return offer at the firm, and will also ensure that you are in a great spot should you want to go somewhere afterwards. All the best in all cases :)

There's a closer meaning to my user name. Try reading it quickly. Perhaps you will then understand ;P
 

I'm speaking as 1 data point for IB culture so results may vary.

I'd say the most important thing besides the obvious is staying current on the latest local sports teams and trends. Fantasy, NBA/NFL, should be in decent working knowledge. If not, studying up now will be a solid ROI for the summer. Also, if you are in the south and don't play golf at least go to the driving range so you have something to talk about. Top golf is your friend.

I'm exaggerating a bit but my point is that you are going to want to be as interesting to talk to as possible and sports literate.

 

Yes, I will be based right outside of Atlanta. We have a golf course just 15min from the office. I'm actually a big golfer, and that's what got me the job initially. My question now is how can I leverage my asset based lending experience into DCM or ECM? I will be supporting credit portfolio managers. The analyst told me that I will frequently have to reach out to the FX team to look for possible hedge. And, may also join in on certain meetings with the DCM team.

 

Hey man,

I think one of the most underrated things is to have a positively infectious attitude. Always try to be the person who is upbeat and excited to be in the office every day, as much as you might not to on some days with little sleep and being stressed.

Also, never show that you are frustrated if you are.

GL man!

Cb
 

Depends on the region.

In New York --> No.

In Asia (i.e. HK) --> Yes. (due to high demand for analysts)

What happens is that you can start in January/February, you get paid a stub bonus (half of what a first year analyst gets), and they ship you off for training in July. You'll still be on the normal promotion cycle (i.e. your first 6 months wont really count), but you're bank account will be $50k or so greater.

 

thanks for the reply guys. Buck2210, i wasn't exactly sober when I typed that, but I'll def. watch out for the spelling mistakes.

Do you guys know what exactly determines whether or not you get an offer? To me it seems like every single one of the interns is hella smart, so everyone can do the job. So maybe personality then? To me I have to admit that it's rather the opposite - I'm not the smartest and the quickest in terms of picking up things, but I have a good personality and make really good connections.

What do you think?

 

Have a good attitude, even with the most tedious things they throw at you. Show enthusiasm for what the group does, take initiative to learn more about it. Show also that you care about your own progress and development (i.e., ask for informal feedback every now and then outside of formal reviews). Make an effort to connect with as many senior members of the group as possible.

Good luck!

 
buttercup87:
I think most firms are going to hire a large percentage of their SAs and keep most of them for FT (that's why there are so few spots this summer). I know many firms do not do any FT recruiting in the fall, so I think if you have an SA position you should be fine as long as you don't mess up somehow.

no, the reason there are so few is because there is going to be a lot less offers... if you're an SA this summer, you're going to need to work harder than any SA ever has in order to get an offer

 

not true with goldman. they routinely weed out LARGE percentages of their SA class and do not give them offers--this is all the more so in the bad market. they also didn't give out offers to SA kids at my school until after they'd done FT recruiting/interviewing, so most people didnt know their status till around november even if they had gotten an offer. and a lot of them ended up not getting offers.

 

If a bank wanted to NOT come back for FT, they would over-hire for their SA class. That way, they could pick out the bad candidates and still have people to roll offers off to from the ones that don't accept.

Given GS' history in even good markets, I would not expect a high offer rate. Work hard!

 

I think summer analyst hiring is down about 40% this year. I don't see how analyst classes can get much smaller than what the incoming 09 analyst class sizes are. Unless the next full time class is extremely small, I would expect summer analyst offer rates to be considerably higher than last year. I think this year it is much more difficult to get the summer analyst spot then last year, but it will be easier to get the full time offer.

 

i would second this- but at the same time, i'd also recommend just kicking back you don't want to get burned out from the internship, and it might be better to get all your fun in now

i'd also start getting a feel for the markets if you haven't already, and know a little bit about the upcoming regulatory changes

.
 

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