1L Summer: Treasury, Office of Financial Stability v NY Fed

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Anonymous User
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1L Summer: Treasury, Office of Financial Stability v NY Fed

Postby Anonymous User » Tue Jan 14, 2014 11:01 pm

Got interviews with both and just thinking ahead. Treasury Department is in DC, where I would like to possibly move after graduation (SO recently moved there, but no other connections besides that). On the other hand, the NY Fed is paid at $6.5k per month for a 10 week internship.

Is either more prestigious? I'd really like the money but I'm not dying for it, especially if experience in DC will be necessary if I want to get offers from DC firms during OCI.

At CCN, finance background prior to law school. Looking to go corporate/regulatory in biglaw.

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Nelson
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Re: 1L Summer: Treasury, Office of Financial Stability v NY Fed

Postby Nelson » Tue Jan 14, 2014 11:56 pm

Take the money unless you really need to be with your SO this summer. What you do 1L summer doesn't matter at all as long as you come out of it with a couple good anecdotes for OCI and a writing sample, both of which you can get anywhere. DC firms won't care where geographically you summer as long as you have good grades. If you don't have good grades, DC probably isn't going to happen anyway.

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VulcanVulcanVulcan
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Re: 1L Summer: Treasury, Office of Financial Stability v NY Fed

Postby VulcanVulcanVulcan » Tue Jan 14, 2014 11:59 pm

Anonymous User wrote:Got interviews with both and just thinking ahead. Treasury Department is in DC, where I would like to possibly move after graduation (SO recently moved there, but no other connections besides that). On the other hand, the NY Fed is paid at $6.5k per month for a 10 week internship.

Is either more prestigious? I'd really like the money but I'm not dying for it, especially if experience in DC will be necessary if I want to get offers from DC firms during OCI.

At CCN, finance background prior to law school. Looking to go corporate/regulatory in biglaw.


Money talks. But if you have enough finance cash to pay for a nice summer, it may not be an issue. If you have ZERO connection to DC, this is a good talking point if your SO is only a BF/GF and not a fiancee/spouse. DC firms will want to see a relatively convincing DC spin to your pitch.

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Nelson
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Re: 1L Summer: Treasury, Office of Financial Stability v NY Fed

Postby Nelson » Wed Jan 15, 2014 12:02 am

VulcanVulcanVulcan wrote: DC firms will want to see a relatively convincing DC spin to your pitch.

"I want to do regulatory work" or "I hate NYC" is more than enough spin.

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Re: 1L Summer: Treasury, Office of Financial Stability v NY Fed

Postby Anonymous User » Wed Jan 15, 2014 12:52 am

Nelson wrote:
VulcanVulcanVulcan wrote: DC firms will want to see a relatively convincing DC spin to your pitch.

"I want to do regulatory work" or "I hate NYC" is more than enough spin.


My resume speaks a lot to my regulatory background, and I think working with the Fed would probably cement that. Hopefully it would be enough to get DC come 2L. And yes, the SO is only a bf/gf, though it's a very long term relationship.

Anyway, thanks for the advice!

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hyakku
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Re: 1L Summer: Treasury, Office of Financial Stability v NY Fed

Postby hyakku » Wed Jan 15, 2014 10:10 am

I summered at the Fed 1L year and would suggest you doing so as well given your stated goals. I wasn't even interested particularly in regulatory work and didn't want to be in the NY area, but in all of my interviews (corporate firms and lit heavy firms) everyone was interested in my experience there. If you can land it, it's a unique experience to talk about (only four-five per summer), and the alumni network in NY/DC is ridiculously strong (half of my class ended up at Wachtell, previous summers are at S&C, DPW, etc. in heavy numbers), and everyone there is great. I'm willing to talk to you about my experience and interviewing if you'd like, just shoot me a pm.

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Re: 1L Summer: Treasury, Office of Financial Stability v NY Fed

Postby Anonymous User » Wed Jan 15, 2014 3:34 pm

hyakku wrote:I summered at the Fed 1L year and would suggest you doing so as well given your stated goals. I wasn't even interested particularly in regulatory work and didn't want to be in the NY area, but in all of my interviews (corporate firms and lit heavy firms) everyone was interested in my experience there. If you can land it, it's a unique experience to talk about (only four-five per summer), and the alumni network in NY/DC is ridiculously strong (half of my class ended up at Wachtell, previous summers are at S&C, DPW, etc. in heavy numbers), and everyone there is great. I'm willing to talk to you about my experience and interviewing if you'd like, just shoot me a pm.


PMed you, thanks!

pottedplants
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Re: 1L Summer: Treasury, Office of Financial Stability v NY Fed

Postby pottedplants » Wed Jan 15, 2014 11:44 pm

Hey Anon!

When did you submit Treasury app / when did you hear regarding interview? Which offices?

Thanks!

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stillwater
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Re: 1L Summer: Treasury, Office of Financial Stability v NY Fed

Postby stillwater » Wed Jan 15, 2014 11:50 pm

1L jobs arent prestigious. HTH

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Re: 1L Summer: Treasury, Office of Financial Stability v NY Fed

Postby Anonymous User » Thu Jan 16, 2014 1:18 am

pottedplants wrote:Hey Anon!

When did you submit Treasury app / when did you hear regarding interview? Which offices?

Thanks!


Emailed application Dec 1 (gunnnerrrr) and asked to be considered for Assistant General Counsel for Banking and Finance or for the Chief Counsel, Office of Financial Stability. OFS got back around 1st or second week of January, nothing from Banking and Finance. OFS sounded like they're doing interviews all this week and next then making a decision.

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Re: 1L Summer: Treasury, Office of Financial Stability v NY Fed

Postby Anonymous User » Tue Jan 21, 2014 1:24 am

Anonymous User wrote:
pottedplants wrote:Hey Anon!

When did you submit Treasury app / when did you hear regarding interview? Which offices?

Thanks!


Emailed application Dec 1 (gunnnerrrr) and asked to be considered for Assistant General Counsel for Banking and Finance or for the Chief Counsel, Office of Financial Stability. OFS got back around 1st or second week of January, nothing from Banking and Finance. OFS sounded like they're doing interviews all this week and next then making a decision.


OP - did you submit your apps pre-grades? Congrats!

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Re: 1L Summer: Treasury, Office of Financial Stability v NY Fed

Postby Anonymous User » Tue Jan 21, 2014 11:31 pm

Anonymous User wrote:
Anonymous User wrote:
pottedplants wrote:Hey Anon!

When did you submit Treasury app / when did you hear regarding interview? Which offices?

Thanks!


Emailed application Dec 1 (gunnnerrrr) and asked to be considered for Assistant General Counsel for Banking and Finance or for the Chief Counsel, Office of Financial Stability. OFS got back around 1st or second week of January, nothing from Banking and Finance. OFS sounded like they're doing interviews all this week and next then making a decision.


OP - did you submit your apps pre-grades? Congrats!


Yes I did.

And as an update/close-out to this thread, I received the offer from the Treasury. Fed won't be doing interviews until February (before which the Treasury offer will have lapsed), so I think I'm just going to be taking the DC gig. A little bit due to being risk adverse, but I'm also excited about Treasury and think it will look good to have some DC experience on the resume.




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