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    I'm currently studying a Masters of Finance and I am trying to decide among two internship offers:

    1. UBS summer internship
    2. Goldman Sachs 12-month internship

    Both are in equity research but unfortunately I don't know in which particular team.

    I know that Goldman is broadly more reputable than UBS, but does anyone know how do their equity research departments compare?

    Also, there is a decent chance of getting converted after a summer internship, but does anyone know whether this is also possible after a 12-month one?
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    Never knew GS offered 12 month placements in anything other than Ops or Tech..? Surely a 12 months placement in a FO position is essentially just a job?! Im using the word placement, because i dont think you could call a 12 month stint an internship?!

    Id take Goldman over UBS in any other situation but it depends on what you have planned for the next 12 months of your life. UBS are traditionally very strong in Equities with GS stronger on the FICC side so you have to weigh up that issue aswell.

    As for conversion chances, from speaking to a friend who did 12 months in GS AM Ops in Zurich, you dont get converted straight away unless you're unbelievably talented and normally requires you to reapply for entry level grad positions. But theres no doubt a year in GS ER would look very impressive on the old CV and stand you in good stead.
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    10000000% Goldman.
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    (Original post by JakeF)
    As for conversion chances, from speaking to a friend who did 12 months in GS AM Ops in Zurich, you dont get converted straight away unless you're unbelievably talented and normally requires you to reapply for entry level grad positions. But theres no doubt a year in GS ER would look very impressive on the old CV and stand you in good stead.
    I'm not... so that is a major issue. At least with UBS I know that if I work hard I stand a good chance.
    Moreover, something tells me that if I take Goldman I will never come back to my masters.
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    Well there is your dilemma my friend. How important is the Masters to you? Which uni/business school? If its that important and will add something to you.. then UBS summer internship, complete the masters and hope you get a grad offer for 2011 intake.
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    (Original post by sadwing)
    I'm not... so that is a major issue. At least with UBS I know that if I work hard I stand a good chance.
    Moreover, something tells me that if I take Goldman I will never come back to my masters.
    How did you land this job if you're not talented? They must've seen something in you. I think the brand name of Goldman and the 12 months of experience make it very worthwile.
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    (Original post by loggins)
    How did you land this job if you're not talented? They must've seen something in you. I think the brand name of Goldman and the 12 months of experience make it very worthwile.
    I agree. To be offered GS 12 month placement AND a summer internship in UBS's strongest division then you must have something special about you. I reiterate, you need to decide how important and valuable this Masters actually is to you.

    I know what i'd do, and that'd be to take GS.
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    I don't think there is many people applying for off-cycle internships at banks, because I also got a 3 month Spring Internship at Nomura whereas for summer I only got UBS (and I applied to everything that moves). Nowadays almost everyone has a well structured pre-defined path.

    I'm doing my masters at St. Gallen and although I'm enjoying it a lot, I know it won't add that much weight to my CV outside Switzerland or Germany, and I want to work in London.

    It seems that the position of TSR is clear, although I'd still love to hear from someone pro-UBS.
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    (Original post by sadwing)
    I don't think there is many people applying for off-cycle internships at banks, because I also got a 3 month Spring Internship at Nomura whereas for summer I only got UBS (and I applied to everything that moves). Nowadays almost everyone has a well structured pre-defined path.

    I'm doing my masters at St. Gallen and although I'm enjoying it a lot, I know it won't add that much weight to my CV outside Switzerland or Germany, and I want to work in London.

    It seems that the position of TSR is clear, although I'd still love to hear from someone pro-UBS.
    Dont get me wrong. TSR is very pro-UBS in certain divisions but in this case GS is the better option.
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    someone I know is doing a year long internship at goldman er - its made of two 6 months rotations. he just finished spending 6 months and tells me that he sees no offer coming.
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    Doesnt that beg the question.. If GS have no intention of giving out offers after investing 12 months of training and work into someone on a placement year then whats the point..?
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    (Original post by JakeF)
    Doesnt that beg the question.. If GS have no intention of giving out offers after investing 12 months of training and work into someone on a placement year then whats the point..?
    Cheap labour :p:
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    Im not totally clued up on the contract details of 12 month placement, but if its a FO role like ER, then surely the pay is on a level equal to that of an entry level grad or a contract similar to that of a summer intern a la 40k+ pro rata?
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    (Original post by loggins)
    Cheap labour :p:
    correct. the french banks (esp societe generale) are very well known for this. Soc Gen gives out lot of 12 month internships (in structured products or something) and very very hardly give out an offer, its just a source of very cheap labour for them. Could also be because most frenchies take a year out in uni for work (degree requirement i think), so banks hire them with no intentions of an offer...
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    But you should not assume that just because UBS is 'less prestigious' than GS you could just waltz in there and the offer will be waiting for you on a silver platter. AFAIK UBS had very low ER conversion rate this year.

    UBS has a better ER department, GS has the better brand name. Go for what you think is more important.
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    (Original post by PorcineAviation)
    50% I think.
    Really? Then that's quite good. Do you know the general conversion rate in EQ and FICC? I assume the later will be much bigger...
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    I'm not so sure GS is the option to choose here. UBS has the best European coverage whereas GS isn't a research-powerhouse and just have it as a support function.

    With GS you will be able to impress your friends at the pub, but insiders now that in ER it is all about the team/analyst you will be working for, and UBS has more II ranked analysts that anyone else.
 
 
 
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