Are you an 'incoming analyst', sitting pretty in the knowledge that you already have an investment banking job secured for 2017? If not, the clock is ticking until the banks close their programmes to applications, but - more importantly - you will be in the small minority who didn't come through the summer internship programme.
By now banks have extended offers to people they wanted to keep and, despite some banks keeping interns hanging, the exploding offers have been either accepted or rejected by a select group of students. But who is getting the jobs? We've pulled a select group of analysts to secure a job at Goldman Sachs, J.P. Morgan and Morgan Stanley. This is what it takes to make it into the 4% of successful applicants.
Paulo is indicative of the need to be single-minded about your pursuit of a first investment banking job. His route into Goldman came from a Spring internship in the securities division converted into a summer internship, again in securities, before securing a full-time offer in the equity trading business. He is set to graduate from the University of Warwick with a degree in accounting and finance. While there, he was both an equity research analyst and later chief investment officer for the equities team at the Warwick Investment Fund. He's also been a campus ambassador for Goldman Sachs at Warwick since August 2015.
Sam interned in Goldman Sachs' securities business this summer, so appears to be another internship conversion. He is from Sweden and is currently studying engineering at the KTH Royal Institute of Technology. Sam has also shown the, now important, evidence of entrepreneurial spirit - having started his own private tutoring firm at 16. He was also was head of corporate relations in the finance society at KTH, helping organise various finance conferences and events. He's also completed a five-month stint as a junior analyst at asset manager Söderberg & Partners.
Luis is another example of why it pays to start early if you want a shot at an investment banking job. He started out in Goldman's Spring week programme, converted that into a summer internship this year and then received a full-time offer. It also helps, perhaps, that he's been a campus ambassador for the bank at his university - Warwick, again. He's studying International Management and speaks four languages - English, French, Spanish and Italian - and appears to be learning Portuguese. He worked in the financial institutions group on his first summer internship rotation, but then moved to consumer, retail, healthcare and real estate, where he received an offer.
Andreas appears to have started his journey towards an investment banking job very early. He started his undergraduate degree at Cass Business School in 2013, but his first internship was at Deutsche Bank in 2012. He spent a further five months working at Deutsche in Germany in 2014, then a year working at Goldman Sachs in its derivatives sales business for a over a year, and completed an internship at Goldman this summer. Yes, that's a lot of experience.
Victor interned at Goldman Sachs this summer and converted it into a full-time offer. He's just taken on the role of campus ambassador - he's currently studying Economics at the University of Chicago. He interned at Morgan Stanley in London, at SEB as a sales intern in Sweden and at Altor Investment Partners in Stockholm. He's coupled this experience with sporting achievements, which always impress banks' graduate recruiters - he played soccer, rugby and golf at Chicago.
While everyone in our sample of Goldman Sachs recruits interned at the bank, Adam has not spent any time at J.P. Morgan. Instead, his experience has focused on private equity. He interned at Rothschild and Inflexion Private Equity. Adam is studying for an MPhil in Finance at Cambridge Judge Business School and ahas a degree in Economics from the London School of Economics (LSE).
Oliver has taken on the role of campus ambassador for J.P. Morgan, at the University of Warwick Business School where he's studying international management. He interned on the equity sales desk this summer and has accepted a full-time offer. Oliver also spent a Spring week at J.P. Morgan in January last year, again focused on the markets business. He's spent time at inter-dealer broker ICAP, Nomura and Credit Suisse. He's part of the University Ambassador Programme for Warwick's rugby league programme.
Georgia is studying at Masters in Financial Mathematics at LSE, and also has an undergraduate degree in maths and stats from Warwick. She converted her summer internship on J.P. Morgan's trading desk into a full-time offer, but has also racked up experience across different departments across various banks. She spent a Spring week in Goldman Sachs' audit and finance division, as well as Bank of America Merrill Lynch's markets team in April last year. For the past two years she's worked as a tennis coach in York.
Edward converted his summer internship at J.P Morgan Casenove into a full-time role starting next year. Unusually, perhaps, he's also studying History at the University of Bristol. J.P. Morgan is Edward's only summer internship, but he has multiple Spring week experience including stints at Morgan Stanley, BAML, and Patron Capital. He also has a month's work experience at both MUFG in Singapore and Lone Star Funds in Japan.
Nicola converted her summer internship in the emerging markets trading desk into a full time offer, but has a range of experience across the various divisions of an investment bank. She spent a summer working in debt capital markets at BAML, a Spring week at J.P. Morgan working in M&A and has worked in asset liability management at reinsurer Swiss Re. She's studying Mathematics at the University of St Andrews.
Laurent is studying for an MPhil in Economics from Cambridge Judge and has an undergraduate degree from Brunel University. He converted an internship at Morgan Stanley this year, but also has an impressive array of experience gained elsewhere. He spent the summer at SocGen's markets business last year, and also has attended insight events at J.P. Morgan, the Bank of England, UBS, Bloomberg and Lloyds Banking Group. He was also vice president of the finance and economics society at Brunel.
Bhagyata is also doing a Masters degree, this time at London Business School where she's studying financial analysis. She's already achieved an undergraduate degree in Mathematics from Imperial College London. She interned at various banks in Bahrain, but was also the campus ambassador for Deutsche Bank at Imperial and has two summer internships at Morgan Stanley - this year and in 2015. She's also interned at insurer Zurich and was a member of the Hindu, Indian and finance societies at Imperial.
George has already completed his degree in Economics from University College London, but is still set to start at Morgan Stanley in 2017. He spent the summer as an equity research analyst in 2015 and was offered a full-time role, starting next year. He's also shown evidence of entrepreneurialism through starting his own website, TheEl1teTrader.com, which offered instructional articles on where to invest in UK small caps. He's spent time at Royal Bank of Scotland during two month-long internships.
George has just completed a year-long industrial placement in Morgan Stanley's sales and trading division and is due to start full-time in the summer of 2017. He's interned at SEB, spent insight weeks at Goldman Sachs and Morgan Stanley and been a 'brand ambassador' for Deloitte. George is studying Economics at the University of Exeter and started a six-a-side football league between 2012-14.
Galen spent last summer at Morgan Stanley in New York, within its capital markets division. She is studying business, entrepreneurship and organisations at Brown University and yet is set to join the bank in London next year. Compared to other new recruits. Her industry experience is limited (having only interned at Morgan Stanley), but her volunteer work will have impressed banks' graduate recruiters. Not only was she a teaching assistant at Brown, but she's also spent time volunteering at an eco-farm in Turkey and has worked at Social Enterprise Greenhouse, an organisation that helps social enterprises get up and running.