Banking Summer Internship for Maths Student

[larkin1993]

I'm a maths student going into 3rd year. I was told to start early looking into a banking internship for next summer. The problem is I'm really confused by all the different sectors of the banks. Taking Morgan Stanley for example http://www.morganstanley.com/about/careers/programs/summeranalyst.html . The technology option looks like it might be suitable but I've heard lots of people saying you might want avoid being stuck in the back office. There are so many different areas and I'm wondering which one I as a maths student with programming experience would be suited too? Thanks

 

[meanrev]

I'm on the buy side rather than the sell side, so my advice is limited, but I don't believe there's a lot of creative quantitative work to be done at BBBs for math interns. I'd just go for any front office QA internship. Edit: Looking at the list, I'd go with either IBD or "Strats and Modeling" (never noticed MS had such a department). Possibly fixed income. I'm rather reserved about 'equity research' because that's an area where I feel intelligence is the least of an edge, even though the phrase includes the word 'research'. Ask around WSO.

 

[larkin1993]

Thanks for the advice. I'm a bit confused about the strats and modelling option http://www.morganstanley.com/about/careers/pdf/SA_SM_QF_NA.pdf. At the bottom under requirements it says "A Bachelor’s degree with expertise in Mathematics, Financial Mathematics, Physics, Engineering, Quantitative Finance or Computer Science." It then however refers to the applicants as students. Does that mean the summer analyst positions are not open to undergraduate students? When you say IBD I assume the IB is investment banking but what does the D stand for? Thanks again

 

[meanrev]

:) Investment banking division.

 

[Matrix0]

I understand your confusion and concerns about choosing the right banking internship for your background and interests. It is important to do your research and explore your options before making a decision.

Firstly, it is great that you are considering a banking internship as it can provide valuable experience and skills for your future career. However, it is important to note that different banks and sectors within banks have different focuses and responsibilities. For example, the technology sector at Morgan Stanley may involve developing and implementing software for the bank's operations, while the front office sector may involve working directly with clients and handling financial transactions.

As a maths student with programming experience, you may be suited for roles that involve data analysis, risk management, or financial modeling. These roles may fall under the technology or front office sectors, depending on the bank. It is important to carefully read through the job descriptions and requirements to determine which sector aligns best with your skills and interests.

Regarding the concern about being stuck in the back office, it is important to remember that all roles within a bank are essential for its functioning. While front office roles may seem more glamorous, back office roles are crucial for the smooth operation of the bank. It is ultimately up to you to choose the sector that aligns with your skills and interests, rather than worrying about perceptions of certain roles.

In conclusion, my advice would be to thoroughly research and explore your options within the banking industry. Consider reaching out to professionals in different sectors to gain a better understanding of their roles and responsibilities. And most importantly, choose a sector that aligns with your skills and interests, rather than worrying about societal perceptions. Best of luck in your search for a banking summer internship!