If you're reading this, you're going into your 2nd year (of a 3 year degree) or 3rd year (of a 4 year degree) or you're a first year (of a 3/4 year BSc in Keenness). The following is by no means exhaustive but it's a few key things that I have used in the past.
My background? Two pervious summer internships - the first in S&T, followed by a working stint on a sales desk, and a second long-term internship in IBD after deciding to move (but not doing so without interning to get flavour).
Here's an interesting article I came across on BI:
"When I was 17, if you asked me how I planned on getting a job in the future, I think I would have said: Get into the right college. When I was 18, if you asked me the same question, I would have said: Get into the right classes. When I was 19: Get good grades.
But when employers recently named the most important elements in hiring a recent graduate..."
Thought it would be interesting to see how many ex/current employees at the bulge bracket banks come from certain universities based on LinkedIn. I searched for each BB with the below unis and added the #s together.
BofA ML + X (BarCap) + Citi + CS + DB + GS + JPM + MS + UBS = Total
425 + X + 647 + 758 + 882 + 796 + 800 + 650 + 860 = 5 800 (UCL)
269 + X + 550 + 583 + 739 + 736 + 650 + 600 + 682 = 4 800 (LSE)
258 + X + 354 + 484 + 698 + 468 + 503 + 646 + 700 = 4 100 (Cambridge)
"While first year analysts at several major U.S. banks, including Goldman Sachs Group Inc., are looking forward to fatter paychecks, it seems their European counterparts can brace themselves for relative austerity. Credit Suisse Group AG and Deutsche Bank AG are monitoring the situation and haven’t made any decisions yet on increasing salaries, people close to the banks say.
A person familiar with the matter says that Barclays in the U.S. will increase junior banker pay in line with the rest of the street. It’s not clear whether Barclays will do the same for its operations in Europe. UBS AG said it was comfortable with the current mix of pay and bonuses, according to one person familiar with the matter." (Dealbreaker)
Beginning first year as an investment analyst at a $5B debt fund. Invest in global credit situations across the cap structure (senior loans, HY bonds, mezz and equity co-invests) in Europe and the US.
Based in London, spent summers at a BB in M&A and at a multi-strat HF in Europe. 'Target undergrad' with BusAdmin degree in Europe.
Here's the 3rd part of the Spring Week guide. Hope you found the whole series useful and if you'd have anything to add/comment feel free to do so.
If you have multiple offers, it is usually okay at this stage to renege on an offer after signing but you should try and avoid it. Check the dates of various internships to ensure they do not clash, let the bank know as soon as possible and accept the offer(s) on the basis of the bank’s individual strength in your chosen division/sector, its culture and how well you think you will ‘fit’. This advice should not be applied if you have received a Summer Analyst offer or Full-Time offer – reneging on an offer after singing for those positions should be strongly avoided.
Here is the official SW thread where we can discuss our applications for the 2015 recruitment cycle. I have put together a list below just to make things easier (going to keep this updated as applications open).
Bank of America Merrill Lynch:
https://www.credit-suisse.com/uk/en...ternship-programs-emea/outreach-programs.html (Open Now)
Psychometric tests is the stage where most candidates are filtered out so it's definitely a crucial part of your application. Read this through and you have increased your chances by a mile.
And as always, feel free to add your comments!
The 3 Test Providers
SHL: These tests are timed overall with four or five options to choose from. In these tests you can't go back and change your answer.
The banks using them are BarCap/UBS/JPM/RBC and HSBC.
Title says it all. If you'd love to have some feedback on the chances of you breaking into a certain role given your current situation/background, fire away at this thread!
This three part guide will go into depth answering the most common questions with regard to the application process and interviews. The hardest part of the process is actually passing the initial screening/psychometric tests and then getting an interview in the first place, so the emphasis will be put on these.
Once again feel free to comment on this and add any other advice you may have, greatly appreciated.
Your subject choice at university does not matter. It’s as simple as that. Apply whatever your background. Your A Levels subjects also carry little weight as long as you meet the minimum requirement for that institution. It’s also worth mentioning if you are at a top-tier target university, your subject choice does not matter.
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