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Official Investment Banking Spring Week 2017 Thread

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I see! I heard GS TMT and MS M&A are the go to groups for landing an offer from the megafunds (KKR/Carlyle/TPG/BX/Apollo). However, I heard that they often send people off to MBA after a few years in the megafunds, do you think it's also like that in Europe? My plan is Bsc --> IBD/PE --> MBA I switched bachelor program this year, so I was actually a first year student last year, but I got accepted into a very competitive bachelor program in my country and therefore chose to switch. And thus I have the privilege of doing the bank SW's that I didn't apply for last year.

The AM gig I landed through hardwork basically. Nailed the interviews and killed the tests, but I think it helped that I also had perfect grades and a few succesful startups on my CV.

The group thing isn't as prevalent here as it is in the US, tbh. That's mostly a wall street oasis-ism. And no, in Europe most people stay on without getting an MBA (many still do decide to get one however). And fyi, MS doesn't have an M&A team in London there's an 'analyst execution pool' which means you get thrown into anything and everything (be that M&A, ECM, DCM, LevFin whatever) I think a lot of the industry teams do their own modelling here in Europe.

To your path, it goes 2-4 years IBD ----> 2-3 years PE ---> MBA. Sweet spot is 4-6 years total experience.

Generally GS/MS/JPM and the elite boutiques will have more buyside recruiters snooping around but from what I've heard of my friends who've done the whole PE recruiting biz, any BB or elite boutique would give you a decent shot at the larger mid market and megafund PE houses. And certainly a very strong shot for more mid market to lower mid market firms; in fact even Big4 CorpFin guys get recruited at the mid to lower end of private equity.

Smart thinking w.r.t doing first for a shot at SWs, you seem pretty knowledgeable so I'm in no doubt you'll land something.

Congrats! Sounds like a pretty sweet gig, how long are you working there for?

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(edited 7 years ago)

Reply 121

username738914

Original post by Sikhanddestroy

I was worried about the degree. Just seems like everyone doing into IB has a quantitative degree. So is it not preferred to humanities or is it just a matter of university (the better the university, the less degree matters)

Doesn't matter bro. When was the last time you heard someone doing art history wanting to go into finance? It's selection bias.

Uni is definitely more important, but not the be all and end all.

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Reply 122

RWiz

Arh okay, I didn't know all that! I don't know much about MS to be honest, all the people I know in banking are at GS. But that's what SW would be a great opportunity for, isn't it :wink:

?

Alternative to an MBA would be a master in finance I guess.

Been following Wallstreetoasis since I was a high school kid and discovered this forum two years ago. I must say that your posts have been really helpful here. I really appreciate it.

(edited 7 years ago)

Reply 123

RWiz

Original post by Princepieman

Smart thinking w.r.t doing first for a shot at SWs, you seem pretty knowledgeable so I'm in doubt you'll land something.

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What, could my experience be a disadvantage for SW's? : /

Reply 124

username738914

Original post by RWiz

What, could my experience be a disadvantage for SW's? : /

Meant 'in no doubt', edited it!!

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Reply 125

RWiz

Original post by Princepieman

Meant 'in no doubt', edited it!!

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Alright mate, haha. Are you applying for SW this year? Or did you already do some, given your participation in the previous SW mega threads

Reply 126

swervybang

I don't understand the thing about targets. Do students at targets literally have a better chance of being selected than students from semi-targets and non-targets is it just that people that apply to IBs tend to come from these target universities?

Reply 127

username738914

Original post by swervybang

Both, it's a closed loop feedback system

Reply 128

swervybang

Original post by Princepieman

Both, it's a closed loop feedback system

What's that

Reply 129

username738914

Original post by RWiz

Alright mate, haha. Are you applying for SW this year? Or did you already do some, given your participation in the previous SW mega threads

Hopefully! I only wouldn't apply this year if I ended deciding to do a year abroad as part of my course.*

Nah, don't have any SWs under my belt. Had an offer from RBS which I was fast tracked to but they were only doing back office related SWs offers, so I declined it.

Reply 130

Gladiatorsword

Original post by swervybang

What's that

Its where students who are more likely to get into IB will be more competitive and high achieving students in addition to maintaining a strong extra curricular base. Hence they'll be more likely to get into oxbridge, lse warwick or ucl. Hence more students from target unis get into IB. It doesnt mean they were selected for spring weeks BECAUSE they went to target unis but rather the percentage of competent students at target unis is higher

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(edited 7 years ago)

Reply 131

username738914

Original post by swervybang

What's that

It means there is a loop in that one of your statements informs the other, targets are targets because people there are more likely to fit the requirements banks want and are more likely to apply. So they go back to reinforce this feedback loop by showering said targets with resources and events.

Reply 132

anonwinner

If I identify as female can I apply to the female only insight days?

Reply 133

Gladiatorsword

Original post by anonwinner

If I identify as female can I apply to the female only insight days?

Maybe but a social justice warrior may be triggered

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Reply 134

RWiz

Alright sweet!

I heard something about Barclays doing IBD summer inters for first years? Is this BS or true?

(edited 7 years ago)

Reply 135

gr8wizard10

Original post by RWiz

Alright sweet!

I heard something about Barclays doing IBD summer inters for first years? Is this BS or true?

only 2 first years on the IBD programme.. you have to do the SW, be of a minority origin and be exceptional.

Reply 136

RWiz

Original post by gr8wizard10

only 2 first years on the IBD programme.. you have to do the SW, be of a minority origin and be exceptional.

Alright, thank you for the clarification. I'm from the typical white kid investment banking background.

If I am correct I think I remember you attending it, am I correct? If so congrats on that! That's very impressive.

(edited 7 years ago)

Reply 137

Trapz99

Original post by gr8wizard10

only 2 first years on the IBD programme.. you have to do the SW, be of a minority origin and be exceptional.

How exceptional do you have to be? Is it in terms of the extra curriculars you do or academics?

Reply 138

RWiz

Must be in terms of EC's. Academic excellence is 16-17 year old PhD students, not the average Joe Doe with perfect grades in high school and the first year of uni studying easy business degrees, haha. There's thousand of such.