***Official Investment Banking 2022 Summer Internship Thread***

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kkllookkkk
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#61
Report 1 year ago
#61
(Original post by anonuser99)
Depends what firm but for most banks, they will pay you a pro-rated graduate salary (no bonus of course). For the front office roles in an investment bank (Research, S&T, IBD, CB etc.) that's around 40-60k depending on the firm. Apart from like prop trading and some hedge funds, you don't get much that pays higher.
Also sorry what does pro rated mean ?
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anonuser99
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#62
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#62
(Original post by kkllookkkk)
Just to clarify I was asking about 2nd year internship which is for summers , no way it can be that amount 🤯
And that is what I was answering. I said pro-rated which means you only get paid proportionally for the length of the internship. 40-60k is a full years salary. Simply proportion those amounts to the 6-10 weeks you'd spend on a summer internship to get your pay.

E.g. salary of 52k, internship of 10 weeks = 52000/52*10 = £10k paid over the course of the internship.
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kkllookkkk
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#63
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#63
(Original post by anonuser99)
And that is what I was answering. I said pro-rated which means you only get paid proportionally for the length of the internship. 40-60k is a full years salary. Simply proportion those amounts to the 6-10 weeks you'd spend on a summer internship to get your pay.

E.g. salary of 52k, internship of 10 weeks = 52000/52*10 = £10k paid over the course of the internship.
Thank you for explaining
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rockfish
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#64
Report Thread starter 1 year ago
#64
Hi guys,

I created a thread on bank cultures if you are interested in watching/contributing:

https://www.thestudentroom.co.uk/sho...6#post93790326
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baizen2000
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#65
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#65
This thread is scary
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anonuser99
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#66
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#66
Check out my new guide on what to do if you don't secure a spring/summer internship:
https://www.thestudentroom.co.uk/sho....php?t=6940372
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123xyz123
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#67
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#67
Hey guys, is it necessary to get a first in your 1st year of undergrad in order to get a summer internships in your 2nd year? Or is it ok to get a 2.1?
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anonuser99
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#68
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#68
(Original post by 123xyz123)
Hey guys, is it necessary to get a first in your 1st year of undergrad in order to get a summer internships in your 2nd year? Or is it ok to get a 2.1?
2:1 is fine. A first may help though.
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uncritical
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#69
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#69
As if I've just seen a post on Linkedin that 17 firms (EB/BB/MMs) have opened up for summers. I hate it here lol
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Matt_4231
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#70
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#70
(Original post by uncritical)
As if I've just seen a post on Linkedin that 17 firms (EB/BB/MMs) have opened up for summers. I hate it here lol
Link?
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ravman123456
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#71
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#71
(Original post by uncritical)
As if I've just seen a post on Linkedin that 17 firms (EB/BB/MMs) have opened up for summers. I hate it here lol
Think that this will be in the US
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rockfish
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#72
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#72
(Original post by uncritical)
As if I've just seen a post on Linkedin that 17 firms (EB/BB/MMs) have opened up for summers. I hate it here lol
Bump.
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silverswan2002
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#73
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#73
(Original post by ravman123456)
Think that this will be in the US
Yeah thought so as well
Last edited by silverswan2002; 1 year ago
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uncritical
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#74
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#74
(Original post by ravman123456)
Think that this will be in the US
ur prob right that would make more sense. almost died inside seeing that post.

(Original post by Matt_4231)
Link?
was ages ago sorry
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anonuser99
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#75
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#75
US recruiting seasons starts around now for some firms. This has been happening for several years now, doesn't change anything about EMEA.
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username5581402
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#76
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#76
(Original post by rockfish)
Why do people keep on saying the conversion rate for JPM is 0%? It says on the website for spring weeks that "all programs feature the opportunity to be accelerated to an Assessment Centre for a 2022 Internship". Am I missing something?
but I think JPM flag you or something. I think something like that happened last year so you're still at an advantage
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123xyz123
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#77
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#77
hey guys, im a first year maths and stats students
i wanna go into quant finance in the future
what would be the best summer internship divisons to apply for?
i know you can apply to jane street, citadel, jump trading, de shaw for specific quant internships, however they are extremely competitive
i know most bb don't do quant related internships, so which division would be best for me to apply to, in order to help me with my quant career

cheers guys i really appreciate it
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anonuser99
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#78
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#78
(Original post by 123xyz123)
hey guys, im a first year maths and stats students
i wanna go into quant finance in the future
what would be the best summer internship divisons to apply for?
i know you can apply to jane street, citadel, jump trading, de shaw for specific quant internships, however they are extremely competitive
i know most bb don't do quant related internships, so which division would be best for me to apply to, in order to help me with my quant career

cheers guys i really appreciate it
S&T, research what desks are more quantitative. Consider doing tech internships too (like in actual tech firms). The quant is more important than the finance in "quant finance".

Projects help too, building your own stuff.
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123xyz123
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#79
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#79
(Original post by anonuser99)
S&T, research what desks are more quantitative. Consider doing tech internships too (like in actual tech firms). The quant is more important than the finance in "quant finance".

Projects help too, building your own stuff.
thanks for the help mate!
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username5581402
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#80
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#80
is there any way to tell what day firms will open? I assume now is too soon but what about in a few months time?
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