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How hard is it to get a Summer Analyst Internship at Goldman Sachs/JP Morgan watch

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    I was just wondering, since I'm getting spammed with their adverts. I'm a second year student at Imperial (well, will be in October) and got a first from my first year. I'm not really into banking, always wanted to pursue a career in engineering/science, but supposing that I changed my mind right know, what would my chances be?

    Is it very competitive, like Oxbridge application 2.0? Does your CV have to be stuffed with awesomeness?
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    (Original post by Blank_Planet)
    I was just wondering, since I'm getting spammed with their adverts. I'm a second year student at Imperial (well, will be in October) and got a first from my first year. I'm not really into banking, always wanted to pursue a career in engineering/science, but supposing that I changed my mind right know, what would my chances be?

    Is it very competitive, like Oxbridge application 2.0? Does your CV have to be stuffed with awesomeness?
    Don't ask questions, treat it as if it is like an oxbridge 2.0 application, so you give it 100% and get the job.
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    (Original post by Blank_Planet)
    I was just wondering, since I'm getting spammed with their adverts. I'm a second year student at Imperial (well, will be in October) and got a first from my first year. I'm not really into banking, always wanted to pursue a career in engineering/science, but supposing that I changed my mind right know, what would my chances be?

    Is it very competitive, like Oxbridge application 2.0? Does your CV have to be stuffed with awesomeness?
    Around 40-50 apps per place.

    This is a fairly pointless question to ask anyhow, just apply if you think you're good enough and you have an interest in a division of theirs.

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    (Original post by Princepieman)
    Around 40-50 apps per place.

    This is a fairly pointless question to ask anyhow, just apply if you think you're good enough and you have an interest in a division of theirs.

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    Yeah, it probably is pointless to ask, tough I'm not really planning to apply. I rather wanted to verify if its as competitive as my friends describe
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    (Original post by Princepieman)
    Around 40-50 apps per place.

    This is a fairly pointless question to ask anyhow, just apply if you think you're good enough and you have an interest in a division of theirs.

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    Really?

    In this case the odds are much worse for top engineering companies!

    I thought it would be more like 1/200-300 for BB, considering most of these internships lead to a job offer.
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    not very easy
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    (Original post by SheldorOfAzeroth)
    Really?

    In this case the odds are much worse for top engineering companies!

    I thought it would be more like 1/200-300 for BB, considering most of these internships lead to a job offer.
    1/200 or 1/300 is a bit obscene.. which engineering companies have that ratio?

    Not everyone applies to banking internships because they're not aware and you have to keep in mind most applications are siloed into differing divisions and the average aware applicant is probably from a decent university already.

    Grad roles however, are insanely competitive just because of how few there are (most hires are from internship schemes), there was something like 110,000 applicants for 800 roles in 2013.

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    (Original post by Princepieman)
    Grad roles however, are insanely competitive just because of how few there are (most hires are from internship schemes), there was something like 110,000 applicants for 800 roles in 2013.

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    Is that the same for middle office/back office?
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    (Original post by Terry Tibbs)
    Is that the same for middle office/back office?
    I'd say the funnel recruiting system still holds across all divisions but I can't really comment on specific numbers

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    (Original post by Princepieman)
    1/200 or 1/300 is a bit obscene.. which engineering companies have that ratio?

    Not everyone applies to banking internships because they're not aware and you have to keep in mind most applications are siloed into differing divisions and the average aware applicant is probably from a decent university already.

    Grad roles however, are insanely competitive just because of how few there are (most hires are from internship schemes), there was something like 110,000 applicants for 800 roles in 2013.

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    Yeah, my point exactly, that how hard it is to get in is way over-exaggerated!

    One of the grad engineer job offers I received had a 1/150 ratio (worse than your quoted number of 110,000 for 800 i.e. 1 in 138), bearing in mind that this company didn't offer internships so grad scheme was the only point of entry.

    I didn't say engineering companies have 1/200-300 ratios, rather I thought that BBs did.
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    (Original post by Princepieman)
    the funnel recruiting system
    What is the funnel recruiting system?

    Thanks for your responses, are you working in banking/with the baking sector or are you just saying from your general experience with recruitment in various companies?
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    (Original post by Blank_Planet)
    What is the funnel recruiting system?

    Thanks for your responses, are you working in banking/with the baking sector or are you just saying from your general experience with recruitment in various companies?
    Spring week > summer > grad offer

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    (Original post by SheldorOfAzeroth)
    Yeah, my point exactly, that how hard it is to get in is way over-exaggerated!

    One of the grad engineer job offers I received had a 1/150 ratio (worse than your quoted number of 110,000 for 800 i.e. 1 in 138), bearing in mind that this company didn't offer internships so grad scheme was the only point of entry.

    I didn't say engineering companies have 1/200-300 ratios, rather I thought that BBs did.
    Yeah, that's true to an extent. People like to exaggerate details whenever possible, but really, these ratios we're talking about here are significantly higher than most other graduate jobs (bar consulting, law etc) and are by definition insanely competitive.

    Brings it back to what I said before about asking for how competitive this stuff is, it's not really helpful because if people are put off already by the competition they probably wouldn't enjoy the competitive nature of these jobs.



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    Just because the ratio of applicants to place doesn't seem particularly high doesn't mean that it isn't extremely competitive still.

    You have to bear in mind that because banking has the reputation of being competitive, most of the poor/average applicants are likely to be put off. That means that whilst 10 of every 50 may well be useless, the remaining 30/40 are motivated, attend a top university and achieve good grades, understand the industry and have a whole host of ECs. If you're competing against 30/40 individuals who could all arguably be regarded as good enough, it's tough.

    I'd argue that because the standard of applicants is generally higher it can actually be more competitive than industries which have a higher applicant to place ratio. For example, pretty sure I read that Vodafone (or some other big corporate) had the 'most competitive' grad scheme as it had the most applicants to places. Yet, the reason behind the absurd number of applicants was that their grad scheme was the first search result when you searched 'graduate scheme'. How many of those applicants really wanted to work for company XYZ and had the required skills? My personal feelings are that the number is less than for banking.
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    (Original post by Princepieman)
    I'd say the funnel recruiting system still holds across all divisions but I can't really comment on specific numbers

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    So would it be just as pointless applying for MO/BO grad roles without any internships?
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    (Original post by Terry Tibbs)
    So would it be just as pointless applying for MO/BO grad roles without any internships?
    Not 'pointless' to the same extent as it is for FO

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    Being a Russell Group student, would I be at the bottom of the pile of applications to Goldman, JPMC, Morgan Stanley and the other elites?

    And with this funnel system, would it be hard for me to get on the summer program having not done the spring week?
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    (Original post by m.vilas)
    Being a Russell Group student, would I be at the bottom of the pile of applications to Goldman, JPMC, Morgan Stanley and the other elites?

    And with this funnel system, would it be hard for me to get on the summer program having not done the spring week?
    Apply everywhere

    No you can still get an SA offer without a spring week.

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