………………. ………………. ………………. ……………….

………………. ………………. ………………. ………………. ………………. ………………. ………………. ………………. ………………. ………………. ………………. ………………. ………………. ………………. ………………. ………………. ………………. ………………. ……………….

 
Most Helpful

Congrats on your internship. Very exciting. I work in NYC, have done sell-side and buyside in mortgage bonds. Couple thoughts. 

1. The desks pick you, so be humble on every desk you work at. First one in, last one out. Trading is stressful, be happy to run around doing errands and making everyone's life easier...coffee, lunch, etc. No job is beneath you, traders/salespeople will recognize that and like it. If you become the designated coffee/lunch person, and tie out everyone's PnL for the day, you will 100% get an offer.

2. Be open to sales. The goal is to get a seat/offer. Once you're on a desk, you can apply to move after a year or two. 

3. I know Citi has a large FX operation however you have to believe that FX will continue to go more and more automation (less headcount). My vote would be bonds. Duration, adjusting hedges is super hard to automate; so bonds would give you a nice career path working at Citi or a HF later. I'm partial to mortgages, they are a fascinating product, a huge market, and modeling prepays ie Human behavior is next to impossible. Second would be government bonds (any tenure will be fun), huge market, global macro is great and always interesting. 

4. Ask questions but do not be annoying. Which desks make the most money, find out and go there? Do you want to make a + on 500mm USD/CAD trade (Forex does not have wide spreads), 4 ticks trading 500mm US10yrs or 20 ticks trading 500mm stripped down GNMA 3.5 floaters?

5. Any structuring is also great. Equity-linked notes, deriv structuring, mtge structuring all good with BIG upside. 

6. If they invite you out, you 100% go. Have 1-3 beers but do not over do it. Show that you can have fun but are not going to be hungover at work. 

Best of luck with your opportunity. 

 

Aut culpa qui enim tempora. Dolorem quam et hic beatae qui et. Nihil cumque quis id blanditiis rerum quia nemo. Ut rerum dolorem nemo magnam dicta consectetur quo. Rerum impedit ut molestias aut. Non repellendus iure est aut sunt ut delectus.

Esse corporis facere voluptatem unde ullam. Reprehenderit enim et cum tempore voluptatem optio et. Sapiente ab beatae sunt. Ad veritatis alias nesciunt maiores et. Cum quidem itaque ullam.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 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

May 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

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (20) $385
  • Associates (89) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (67) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $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
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
kanon's picture
kanon
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
bolo up's picture
bolo up
98.8
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...”