timeloso

Hi guys,

I have currently an offer both from Morgan Stanley and Goldman Sachs for their Technology Summer Internship programs. I really don't know what to pick, since both are really attractive offers.

Some of my observations are as follow:

Goldman Sachs
+ Very prestigious, (probably more selective tech internship?)
+ Actually reported profits last year.
+ I already know what project I would be working for, and it sounds like fun.
+ The people in my team are splendid. I think I would enjoy working
with them.

Morgan Stanley
+ I was impressed by their treatment. They were the only ones who
actually paid me a hotel to stay before my interviews, and
in general I found the people there to be very friendly. I loved the
environment.
+ They sent me some info about upcoming events like golf workshop,
culinary workshops, etc.. which sound like great fun! I don't know
if GS has equivalent activities (I will ask later).
+ Payment is significantly higher (about 30%)
+ I'd get the chance to choose over a number of internship projects
after my acceptance (so there's a potential for more fun)


Of course I don't see this as a money vs prestige issue. At this point, the actual salary is not very relevant. I just use it as a measure of employee appreciation. I'm looking for an internship that will be challenging and fun and that could potentially open me more doors for the future. I'm sure both internship programs are great... but do you have some additional inputs that might help me decide better? Thanks!

Jay1020

GS backoffice is in jersey. Will Morgan Stanley place you in NY? If so, take MS. Rubbing elbows with front office=better chances of moving up IMO. and GS pays for traveling+hotels as well, I know because I received an offer, but I live in NY so I didn't use it.

I've never heard of GS having "fun" workshops and events outside of the internship (I'm hoping someone will prove me wrong), but I know companies like MS and especiallllly UBS have awesome networking events like that.

MS JP and GS are on top of the world right now, if I were you I would call tomorrow and ask which building you will be placed in. Go for the NY one. Just my 2 cents.

timeloso

Jay1020: that's actually inaccurate. Each business unit has its own technology area tied in, and they share the same building. At GS, I had a choice between all the offices: Maiden Lane, New York Plaza and Hudson... so that's not an issue.

MS internship would also occur in Manhattan, most likely their Times Sq. office.

About the "pays for hotel/travel"... that's actually accurate, except for the fact that Morgan Stanley would pay me five times more for travel and hotel expenses.

Thanks a lot for your useful insight, though.

Jay1020

Missed the tech part, but, yes, you are entirely correct. Regarding the "MS would pay me five times more," they pay you more than what you paid for? I got into Lehman Brothers, UBS and a couple of others and they were pretty specific about only reimbursing what the applicant paid for down to the dime, but I never applied to MS so I can't say.

It sounds like you certainly like MS more. More pay, similar prestige, project flexibility, and in all honesty I liked the people at MS better as well; I had dinner with their Prime Brokerage team and they were just a lot more down to Earth. I know that doesn't help much with your decision regarding things you don't know, but you're in a very interesting position and it seems like you're putting GS prestige over something you actually want.

Btw GS only reported profits because their trading division pulled in 4 billion alone. They did have losses in other divisions but profits from trading alone covered everything else. They still fired 5% of their bottom-performing though.

Rudess

Goldman 10 chars