Economics Applicant Thread UCAS 2012

Original post by Tateco

The goldman sachs one sounds like it would actually be pretty decent experience whereas all the others look like they are more just like something for the CV and a way to get your foot in the door, you agree?

Does the summer internship that potentially leads onto a summer internship happen in the same year as the spring week (1st Year) or the 2nd year? As I understood it the main banks only do summers for 2nd Years or above but I wasn't sure so just wondering if you can clarify.

Banks don't offer summer internships after one year. They are all for penultimate year students. The format is:

Spring Week (1st Year) -> Internship (End of 2nd year) -> Graduate Job

The only way to get a internship after your first year is to hustle and network with firms in the city. Hustling for a 1st year internship on the CV puts you in a strong position for a real BB internship in 2nd year and a chance for a FT job.

Reply 9922

OP

Original post by Scorcher

Well, it's not weak as such but weaker than Durham's.

The information comes from the fact that for the last few years there have only been a small number of Bath students at spring weeks/internships. There will be Bath students who make it every year but this number is quite small in comparison to some of the other unis outside of the targets such as Bristol, Durham and Nottingham.

Also, the Bath placement year is good but bare in mind the placements you do will be in MO/BO roles and not actually the front office in IB. Great experience nonetheless but you won't be a trader or in M&A.

You can't quantify it by saying Bath places less students. It is a much smaller university with less courses. Also, as people have the placement year lined up they may be less inclined to chase internships which are vitally important to others who won't get the chance of a placement year.

Reply 9923

OP

Original post by Scorcher

Banks don't offer summer internships after one year. They are all for penultimate year students. The format is:

Spring Week (1st Year) -> Internship (End of 2nd year) -> Graduate Job

The only way to get a internship after your first year is to hustle and network with firms in the city. Hustling for a 1st year internship on the CV puts you in a strong position for a real BB internship in 2nd year and a chance for a FT job.

So when you convert your Spring Week into a Summer Internship you get it the following year, not that same year?

Reply 9924

Original post by Tateco

You can't quantify it by saying Bath places less students. It is a much smaller university with less courses. Also, as people have the placement year lined up they may be less inclined to chase internships which are vitally important to others who won't get the chance of a placement year.

True, never really considered that those with the placement year may not be inclined to take an internship. But for those considering Bath, make sure you get an internship even if you are taking a placement year. As I said, the placement will be in MO/BO so a FO internship is important.

Reply 9925

Brand New Eyes

2

Original post by Tsunami2011

Yep! generally though, a Spring Week is a ticket to a summer internship, unless you're not up to scratch, which means that it is fairly important! and usually its Spring Week> summer intern> Analyst offer. I think people just like the chance to big up their CV :dontknow:

that's what my arrows meant! But yes

Original post by Scorcher

Well, it's not weak as such but weaker than Durham's.

The information comes from the fact that for the last few years there have only been a small number of Bath students at spring weeks/internships. There will be Bath students who make it every year but this number is quite small in comparison to some of the other unis outside of the targets such as Bristol, Durham and Nottingham.

Also, the Bath placement year is good but bare in mind the placements you do will be in MO/BO roles and not actually the front office in IB. Great experience nonetheless but you won't be a trader or in M&A.

Are you at Durham by any chance?
Well I'd imagine that they wouldn't really let you loose with their money.

Reply 9926

Original post by Tateco

So when you convert your Spring Week into a Summer Internship you get it the following year, not that same year?

Yep, and the summer after your first year is free to do whatever you want. Although to get the best chance, try to get an internship at a boutique/smaller firm to strengthen the CV.

Bank internship applications open at the very beginning of your second year.

Reply 9927

Original post by Brand New Eyes

that's what my arrows meant! But yes

Are you at Durham by any chance?
Well I'd imagine that they wouldn't really let you loose with their money.

Nope I'm not at Durham but have some good friends that go there who seem to be doing ok for themselves, plus I know a couple of people who are analysts at BB's (one's from Bath actually :P)

Reply 9928

Tsunami2011

15

Original post by Tateco

The goldman sachs one sounds like it would actually be pretty decent experience whereas all the others look like they are more just like something for the CV and a way to get your foot in the door, you agree?

Yeah, I guess so, but at that stage, you're probably going to have narrowed down your options, i.e if you were to get two SW from Goldman Sachs, and Deutsche Bank, those would be the two, which you'd be pursuing further and hoping to be offered a summer intern role. I think that's why Goldman Sachs offer straight offers for summer internships, to some people, since 2 weeks is a pretty good time to assess the capabilities of someone!

Does the summer internship that potentially leads onto a summer internship happen in the same year as the spring week (1st Year) or the 2nd year? As I understood it the main banks only do summers for 2nd Years or above but I wasn't sure so just wondering if you can clarify.

If I'm right it's the spring week that determines whether you're offered a place on the summer internship which is only for second years.

For example, If you did a spring week (year 1) at one of the bulge brackets and did well, you're likely to fast tracked to an AC or given a straight offer for the summer internship shortly after all the spring weeks finish. After the summer internship, you either sink or swim :tongue:

. So to answer your question, summer internships (10 weeks) are only for 2nd year students, or 3rd year students on a 4 year course. Nearly all of the banks will do second year internships, but some won't do the fast tracking.

(edited 11 years ago)

Reply 9929

OP

Original post by Tsunami2011

If I'm right it's the spring week that determines whether you're offered a place on the summer internship which is only for second years.

For example, If you did a spring week (year 1) at one of the bulge brackets and did well, you're likely to fast tracked to an AC or given a straight offer for the summer internship shortly after all the spring weeks finish. After the summer internship, you either sink or swim :tongue:

. So to answer your question, summer internships (10 weeks) are only for 2nd year students, or 3rd year students on a 4 year course. Nearly all of the banks will do second year internships, but some won't do the fast tracking.

Thanks

(edited 11 years ago)

Reply 9930

RocknRap

Just a heads up for you spring week hopefulls: Go to all the employer presentations/networking events you can, beef up your CV over the summer, get involved in societies/positions of responsibilty from the get go at uni, and start to research the industry. Getting onto one is extremely hard these days regardless of which uni you're at. Especially because you'll be up against international students who have super impressive CVs already (wealthy background combined with coming from countries where connections are everything = profit).

Reply 9931

Brand New Eyes

2

Original post by Scorcher

Nope I'm not at Durham but have some good friends that go there who seem to be doing ok for themselves, plus I know a couple of people who are analysts at BB's (one's from Bath actually :P)

I see, well thank you for your advice! What route are you taking/hoping to take?

Reply 9932

nightmare91

Original post by RocknRap

Just a heads up for you spring week hopefulls: Go to all the employer presentations/networking events you can, beef up your CV over the summer, get involved in societies/positions of responsibilty from the get go at uni, and start to research the industry. Getting onto one is extremely hard these days regardless of which uni you're at. Especially because you'll be up against international students who have super impressive CVs already (wealthy background combined with coming from countries where connections are everything = profit).

Do you think prior work experience is essential/helpful when applying for spring weeks? Did most of the spring week applicants have some kind of internships/work experience? I am just wondering because as a Sixth Form/grammar student you don't really have that many opportunities to do something useful (working in the supermarket doesn't count I suppose :tongue:

).

Reply 9933

RocknRap

Original post by nightmare91

Do you think prior work experience is essential/helpful when applying for spring weeks? Did most of the spring week applicants have some kind of internships/work experience? I am just wondering because as a Sixth Form/grammar student you don't really have that many opportunities to do something useful (working in the supermarket doesn't count I suppose :tongue:

).

Work experience in any shape or form will be very helpful when applying for spring weeks, even working in a supermarket - you can talk about the transferable soft skills you learnt, which are very important. The banks will appreciate that most people won't have direct experience of the financial sector (the spring week is an introductory experience after all), so you can make up for it in other areas - volunteering, sports, interesting achievements/activities. Although having said that, at the top uni's there'll be a sizeable proportion of applicants with relevant work experience under their belt. I know one person who had already done a summer M&A internship (he was a foreign student from Singapore)

Reply 9934

nightmare91

Original post by RocknRap

Work experience in any shape or form will be very helpful when applying for spring weeks, even working in a supermarket - you can talk about the transferable soft skills you learnt, which are very important. The banks will appreciate that most people won't have direct experience of the financial sector (the spring week is an introductory experience after all), so you can make up for it in other areas - volunteering, sports, interesting achievements/activities. Although having said that, at the top uni's there'll be a sizeable proportion of applicants with relevant work experience under their belt. I know one person who had already done a summer M&A internship (he was a foreign student from Singapore)

Thanks! Well I will have the opportunity to get an internship at a major american software firm in the summer. Not really what I want to go into but as you said, anything helps :tongue:

Another question: In summer 2009 I had an internship at IBM for 4 weeks during the summer. I've always wondered whether it would be worth mentioning even though it's already 3 years ago. What do you think?

Reply 9935

OP

Original post by nightmare91

Thanks! Well I will have the opportunity to get an internship at a major american software firm in the summer. Not really what I want to go into but as you said, anything helps :tongue:

Another question: In summer 2009 I had an internship at IBM for 4 weeks during the summer. I've always wondered whether it would be worth mentioning even though it's already 3 years ago. What do you think?

Definitely mention it. Why wouldn't you?!

Reply 9936

RocknRap

Original post by Tateco

Definitely mention it. Why wouldn't you?!

^ This.

Though firms do prefer your CV to be relatively recent (In an interview I was asked to talk about a certain situation and they specifically said 'in the past 3 years') . I'd say 3/4 yrs old stuff is the limit.

(edited 11 years ago)

Reply 9937

nightmare91