BO to FO Watch

khelan1991
Badges: 0
#1
Report Thread starter 7 years ago
#1
Hey

I am currently a second year student at Aston university studying economics and management. As part of my degree I have to take a compulsory placement. I have been looking into banking and accountancy. Unfortunately not a lot of banks offer FO placements and one which did (Morgan Stanley) rejected me. I was also rejected by E&Y for corporate finance and got through to the interview stage with Deloitte for audit however they havent scheduled a date for the interview for over 4 months now because of a huge log of candidates.

The only offer I have is LLoyds banking group which is a marketing role. However I also have an interview with Goldman Sachs for operations and was just wondering if it is possible to move from BO to FO (trading in particular) bearing in mind that this is only a placement. I also need to complete the tests for Grant Thornton which i should get through and I am awaiting a reply from Accenture for my initial application.

If i got Grant thornton or accenture which one should i take out of Accenture, GT, GS and lloyds bearing in mind i want to work in trading.

Thank you
0
quote
reply
DeeDub
Badges: 2
Rep:
?
#2
Report 7 years ago
#2
Moving BO to FO in trading is very difficult. It happens but luck has a lot to do with it. The circumstances where I have heard of it happening are when a space opens up on a desk and they pull someone from either their trade support ops team or product control but that requires being in the right place in the right time and having a great relationship with the desk. It is probably more likely to happen on an derivatives desk due to the greater complexity and the advantage of someone with BO knowledge knowing how the desk operates. I wouldn't base my career on trying to make that move.

You are much better trying to get into trading by applying for a trading internship. If you are good enough you should be able to find something trading is more meritocratic uni wise than IBD.
1
quote
reply
khelan1991
Badges: 0
#3
Report Thread starter 7 years ago
#3
Thanks for the reply, however i am still confused as to whether i should take the operations placement if i get an offer as it is compulsory for me to take a placement. Also the placement will be 12 months starting from july and so in terms of applying for a trading internship I may not be able because of my placement taking up this summer as well as next summer.
0
quote
reply
jamz0770
Badges: 14
Rep:
?
#4
Report 7 years ago
#4
Well I obviously don't know as much about it as DeeDub so I'd listen to what he says but I'd guess that out of those you have as options none are really experience for trading so it would probably be best to get the Goldman Sachs brand on your CV, do your best to network when you are there and then apply for trading internships/grad schemes after. It won't be easy though.
0
quote
reply
giggidy
Badges: 0
Rep:
?
#5
Report 7 years ago
#5
How about ICAP placement? And also surely a year at GS on your CV is 100 times better than any other company. When i was at DB, a lot of the traders actually mentioned how they thought it would be better if anaylsts had some experience in operations so they know how the full trade cycle works
0
quote
reply
cruel3a
Badges: 0
Rep:
?
#6
Report 7 years ago
#6
Another thing that you can do is to take that year placement and then apply for a master. While at the master apply for internship in trading...Obv it would take time but it is easier that to move from BO to FO.
0
quote
reply
venomrush
Badges: 0
Rep:
?
#7
Report 7 years ago
#7
I don't think there's a course that has a compulsory requirement to take up a placement.

It's tough to get placement these days especially for the ones you're looking for. If you're in a sandwich year and can't find a placement then you're automatically switch to the normal 3-years course. Check with your university.
0
quote
reply
Lorchii
Badges: 0
Rep:
?
#8
Report 7 years ago
#8
(Original post by venomrush)
I don't think there's a course that has a compulsory requirement to take up a placement.

It's tough to get placement these days especially for the ones you're looking for. If you're in a sandwich year and can't find a placement then you're automatically switch to the normal 3-years course. Check with your university.
not true..mine did! I had to do a 6 month mandartory engineering placement! So even if I wanted to work in bank in my 3rd year of college I wasn't allowed to - or else I wouldnt get my degree.
0
quote
reply
rozzr
Badges: 0
Rep:
?
#9
Report 7 years ago
#9
Yes do a BO placement then apply for FO internships the following year, its perfectly feasible.
0
quote
reply
noddy240
Badges: 0
Rep:
?
#10
Report 7 years ago
#10
I'm planning on doing something similar.
In a rush I applied to Securities and Ops at Gs thinking I would never get it but did have another offer for Ops with a smaller BB.

Got both but what I really want to do is M&A. So going for Ops this summer and hopefully cold contacting people sometime in August. Fingers crossed it works cause I do think the brand name of GS would be an advantage. S&T just isn't my thing for now .

If anyone has any advise- I would be grateful.
0
quote
reply
bluenose53
Badges: 0
Rep:
?
#11
Report 7 years ago
#11
(Original post by noddy240)
I'm planning on doing something similar.
In a rush I applied to Securities and Ops at Gs thinking I would never get it but did have another offer for Ops with a smaller BB.

Got both but what I really want to do is M&A. So going for Ops this summer and hopefully cold contacting people sometime in August. Fingers crossed it works cause I do think the brand name of GS would be an advantage. S&T just isn't my thing for now .

If anyone has any advise- I would be grateful.
Sounds abit like me, Im doing an Ops internship this summer and depending on how I like it, my longer plan is to use the experience (aiming to get placed on a sales support desk or in equities or rates settlements/confirmations) and gain more knowledge, as well as give myself more time to build Extra Curricular base and work on my math. Then may apply for sales internship (probably do a masters) and try and write a covering letter that demonstrates knowledge and what I've gained from working in Ops (hopefully sales support), but explain why I think sales is where I want to be etc etc.

From a semi target uni with a 2:1 expected, so Im sure if I improve my maths test performances and apply to absolutely everything going with a decent cover letter I'll get some interviews.
0
quote
reply
cruel3a
Badges: 0
Rep:
?
#12
Report 7 years ago
#12
(Original post by noddy240)
I'm planning on doing something similar.
In a rush I applied to Securities and Ops at Gs thinking I would never get it but did have another offer for Ops with a smaller BB.

Got both but what I really want to do is M&A. So going for Ops this summer and hopefully cold contacting people sometime in August. Fingers crossed it works cause I do think the brand name of GS would be an advantage. S&T just isn't my thing for now .

If anyone has any advise- I would be grateful.
I did something like that last summer. I had an internship in a BO position (finance) and then I applied both to full time positions and internships in IBD. At the end I was able to receive 2 offers for internships.
If I had to give you an advise it is to apply as soon as possible. For instance, I applied during the second week of september and because of this I was put in the 2nd AC for FT that Deutsche Bank and BarCap had but just few positions, especially at DB, were available. If you are able to apply at the end of august this would probably help you a lot.
1
quote
reply
tech123
Badges: 0
Rep:
?
#13
Report 7 years ago
#13
(Original post by cruel3a)
I did something like that last summer. I had an internship in a BO position (finance) and then I applied both to full time positions and internships in IBD. At the end I was able to receive 2 offers for internships.
If I had to give you an advise it is to apply as soon as possible. For instance, I applied during the second week of september and because of this I was put in the 2nd AC for FT that Deutsche Bank and BarCap had but just few positions, especially at DB, were available. If you are able to apply at the end of august this would probably help you a lot.
Do you know of any people that have done something similar from an internship in other BO roles? For example after doing IT for an FX or FI desk going into a more front office role ?
0
quote
reply
cruel3a
Badges: 0
Rep:
?
#14
Report 7 years ago
#14
No I don't but I haven't been investigating too much. I guess the BB brand on your CV would be enought to get internship FO interviews. Then it is up to you to be able to explain why you made an internship in BO and why you wanted to do something different...
0
quote
reply
JIRAIYA-ERO-SENNIN
Badges: 17
Rep:
?
#15
Report 7 years ago
#15
oh, i thought you were talking about Body Odour and fart Odour.:ahee:
4
quote
reply
noddy240
Badges: 0
Rep:
?
#16
Report 7 years ago
#16
(Original post by cruel3a)
I did something like that last summer. I had an internship in a BO position (finance) and then I applied both to full time positions and internships in IBD. At the end I was able to receive 2 offers for internships.
If I had to give you an advise it is to apply as soon as possible. For instance, I applied during the second week of september and because of this I was put in the 2nd AC for FT that Deutsche Bank and BarCap had but just few positions, especially at DB, were available. If you are able to apply at the end of august this would probably help you a lot.
Thanks for the heads up.
I intend to do something similar by possibly sending out my CV and Covering Letter to a few boutique investment banks and BB firms that do open their recruitment early. I did a Finance internship last summer myself at a BB and think it did help me get a few FO interviews this year ( just not with the banks/firms that would give me the brand name GS is)
0
quote
reply
cruel3a
Badges: 0
Rep:
?
#17
Report 7 years ago
#17
Well but if you wanna work in FO, it is better to do FO at CS, BarCap, DB than doing operations at GS...
0
quote
reply
coconut trader
Badges: 0
Rep:
?
#18
Report 7 years ago
#18
Four completely different jobs, it should be obvious which one to take given your future ambitions.
0
quote
reply
john williams
Badges: 2
Rep:
?
#19
Report 7 years ago
#19
Iv worked in Ops and would say no its almost impossible, you dont have the level of exposure to impress and build such good relationships plus you have the operations tag. I would avoid BO placements even if its at GS and opt for Accenture or one of the others and then you can apply for FO grad schemes.
0
quote
reply
yoyoyomo
Badges: 0
Rep:
?
#20
Report 7 years ago
#20
im in 2nd year and havent got any placements for the summer (applied very late). was thinking about how stiff the competition for corporate finance will be next year, but im really interested in mergers and acquisitions.

is it advisable to apply for a range of grad jobs, in terms of applying to a few FO corporate finance jobs at some of the less competitive banks (i know all are competitive) and apply for operations to the more competitive ones?

it may take a few years, but is the operations to corporate finance trail impossible?
0
quote
reply
X

Reply to thread

Attached files
Write a reply...
Reply
new posts
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Do you like exams?

Yes (133)
18.4%
No (439)
60.72%
Not really bothered about them (151)
20.89%

Watched Threads

View All