Will a Gap Year Really Help You Win More Finance Job Offers Than an Internship at Goldman Sachs?

19 Comments | Recruiting Mindset

Gap Year Investment BankingDo older people give better advice?

For example, can a Managing Director, a Partner, or a Portfolio Manager give you better career advice than an Analyst or Associate?

You might think that’s a clear “yes” because senior professionals have more experience…

…but after watching dozens of interviews and reading even more nonsensical articles, my personal answer is no.

The latest example comes to us from billionaire hedge fund manager Michael Novogratz, who said that students seeking internships should:

“Go do something different. Get on a motorcycle and travel through India and take photographs. Create a story where you learn something… I’m a big fan of the gap year.”

He pointed out that “kids” they interview always want internships at Goldman Sachs and McKinsey.

The reporter’s suggestion, which became the headline of the article, was that students might benefit more from traveling around India than from completing an internship at Goldman Sachs.

Before you cancel your IB internship plans and book a flight, though, you might want to pause and reflect for a moment.

Why Does This Matter?

What to Expect in Your Hong Kong Sales and Trading Internship: The Hunger Games Meets the Wolf of Wall Street?

Leave a Comment | Sales & Trading - On the Job

Hong Kong Sales and Trading InternshipHave you ever read an interview here and said, “That sounds nice… but what happened to this person? Did her internship or full-time job work out? What’s she doing now?”

I have.

Luckily, I don’t have to wonder too much because readers frequently come back and update me on how everything went.

In that vein, this interview is a direct follow-up to a popular one from last year: how to win a sales & trading internship in Hong Kong.

This time around, we sit down to find out how the internship went, what our reader got out of it, and whether or not he would choose HK over NYC again.

Spoiler Alert: If you value full-time return offers, you probably want to stay away from HK…

First Impressions of the Internship

Q: When we last spoke, you were pretty optimistic heading into your internship.

Did it meet your expectations?

Investment Banking in Australia: Perth vs. Sydney and Melbourne

16 Comments | Investment Banking - Asia and Oceania

Investment Banking AustraliaEver wish you had a “do-over?”

Extra lives in a video game when you die for the final time?

So do I.

Especially when it comes to articles on this site written very early on that weren’t quite as thorough as more recent content.

But unlike a character in a game, I have unlimited “do-overs” since I can go back and revisit a topic in more detail.

This time around, it’s investment banking in Australiacovered very briefly in a much older article, which was based on a short conversation with a reader.

It wasn’t bad, but there’s a lot more to the topic than “It’s more laid back, natural resource deals are huge, and traditional exit opportunities are less common.”

So this time around, I sat down to speak with a reader who’s been through the recruiting process at multiple firms in Australia, and who has a good sense of regional differences there.

Here’s how it all begin:

Getting Into Finance… in Perth