Finance Internship Benefits when getting a full-time offer?

BigMike3541
Mon, 01 Feb 2010 17:56:17 +0000

It’s pretty tough to move internally from a tech internship to a front office full time position at the same bank (read: essentially impossible, if not actually impossible). almost surely will require switching at that point banks.

Once you are full time in IT, you could potentially make the switch, but it also takes quite a bit of work. I did technology my sophomore summer at a bank. it was a lame experience, no one in IT at a bank is happy where they are, so 50% of the people just look sad all the time and 50% are scheming to move to another part of the bank (trading or banking) or to a software company. Only a few of them will be successful in transfering though.

I’d be skeptical of whether you’d make more money in GS IT vs a top software firm. Salaries are certainly higher at software places (I’m in stanford CS, so I have lots of data points to compare against the analyst salary one would get at GS). I don’t know much about what bonuses look like for IT guys at places like GS, but I imagine they aren’t very high. This is all completely separate from the GS Strategists, which are essentially the quant guys that work on trading desks and such. They spend a lot of time coding and all, but they are front office and surely make a great deal more money. I think the Strats are what people here are referring to as “front office IT”. GS IT -> Strats i imagine is also quite the difficult move, but certainly much more feasible than GS IT -> GS banking.