Percentage of GS IBD summer interns that get FT offers?
Does anyone know the rough percentage of GS IBD interns that get FT offers? This would be in London by the way. Just trying to work out my odds...
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you rejected laz full time for an intership?
Nope, just need to make the choice now
I'd say the conversion ratio is in the range of 30-60%. Depends on market condition. Right now we are closer to lower number.
Bro, again, pick Laz...
I heard it was about 25 % last year - at least significantly lower than JPM / MS.
P.s. this is for NYC - not London.
I'm not sure what your priorities are, but if you got a GS IBD SA offer, then your probably qualified to get Laz for FT next year. GS is the best investment bank in the city and regardless of the 1/4 offer rate: I would bust hump and give it everything to get the FT offer. If you go to a target school, then you'll have great exit opps with either laz or gs. I go to a non target and so GS IBD would definitely help someone such as myself for rebranding purposes considering how much more competitive buyside recruiting is.
This is the stupidest thing i've ever heard.
yep, more proof that only qualified people should respond. for every rung non-targets climb, this kid kicks them down 20.
don't listen to him OP.
If you turn down a full-time job at one of the investment best investment banks in the world for an INTERNSHIP at one of the best investment banks in the world...
1 out of every 1.61803398875 interns. It's known as the Goldman Ratio. It is also found in the pyramids of Giza and the Parthenon at Athens
wait.. how come is Goldman's FT offer ratio so much lower than other banks? It is the best bank out there, and one shouldn't face this much of a risk in choosing a Goldman SA offer... I am not sure about how credible that information is. Any source?
Btw, if those conversion ratios at Goldman are correct, you'd have to go with Lazard.
How is this even something debatable??? You have a f'ing FT offer versus a Summer offer. Seriously man you're even gonna think about it? Take Lazard and be happy that you got your foot into the industry with an FT from a very good shop.
To clarify my earlier post: I was assuming that OP had the chance to graduate a year early and go FT (many American colleges at least have set curriculums that force you to graduate in no more than 4 years (most privates and top ug b schools); this could also explain why OP has 2 SA offers vs. 1 FT as he might have sold the banks different stories with respect to his graduation time depending on major, study abroad, senior thesis or whatever else. If OP will be graduating in 4 years - then I would take the GS internship over graduating in 3 years with the Lazard FT as this would be a better opportunity to leverage for the future. If OP is considering graduating in 5 years than obviously that would be dumb as banks greatly discriminate against kids who graduate in more than 4 years - if this is so, I would take Laz FT. But without knowing the entire situation of how he was able to get 2 sa offers and one ft offer, then it's really difficult to put this all into perspective as bank recruiting is very structured/cookie cutter. Lastly, prestige and personal happiness isn't a moot point at all. Lots of posts on wso bashing Lazard's intense corporate culture vs. praising GS. These posts aren't from me, they're from starred members who work in the industry - just use the search function, learn more and decide for yourself.
Thanks for the feedback everyone. After reading this post, I feel like I should clarify my situation. I'm currently in my final year of a three year course at a target uni the UK (think Oxbridge). However, I'd quite like to do a Masters degree next year. Also, I've been really impressed with GS whenever I've met them, though I also quite like Lazard. My reservation with the latter is that I've heard a lot of bad stuff about them, although, GS obviously has quite an intense culture too.
edit: Also, this is in London, and I've heard Lazard isn't as strong in Europe?
Take Lazard and be happy with it. Stop being so concerned with prestige.
It obviously depends on how risk averse you are - no matter how you turn it, Goldman IS better than Lazard in terms of career perspective. On the other hand, the SA : FT ratio is very low and having done an internship at GS does not guarantee you a FT offer at other top firms afterwards, just 'because you interned at Goldman Sachs'. I know quite a few people who interned at GS this summer, did not receive an offer and have a very hard time getting a FT offer from another IB right now.
This isn't even necessarily true. Depends on the group.
Hietski, congrats on the opportunity to have the choice!
Out of curiosity, how many rounds are there for GS London SA? I have heard 2 for the NY office (First round, Superday) but as many as 4 for the London office (First round fit based, Second round couple more interviews around technicals, Round 3 interview, Superday).
Anyone care to provide input on that? Or is the London SA recruiting process just 2 rounds of interviews like NYC?
Same as NY- two rounds.
I only know 1 guy out of about 7 or 8 who didn't get offered FT from his GS SA stint. Work your balls off, act upon everything in your review and I'm sure you'd be fine.
It is also worth considering security. Didn't Lazard cut a number of their new analyst class in London in two different cullings? That's what I heard although I don't know how this person can be certain of that...
None of us can make the decision for you. Good luck with whatever you decide to do and congratulations on getting yourself into this position.
Goldman Houston Office conversion rate for summer interns (Originally Posted: 11/09/2015)
Hey,
I have been looking into oil&gas banking in Houston area. Just wonder what's the conversion rate for summer interns at Goldman Houston office.
Please jump in if you any insight or just any comment!
PM me
From what I've heard it's not great, but I don't know for a fact so maybe someone else can chime in
I know they didn't take two last year. Not sure how large their intern class was, either 5 or 7?
6 last year I think
Is it worth applying to GS internship when many summer analysts don't get FT offers? (Originally Posted: 01/11/2010)
Is it worth it? If you work for them over the summer and don't get an offer, isn't that worse than going to a "lesser" BB and getting an offer?
Then get an offer.
.
Yes I totally agree, but some things are just beyond our control and it may be a good idea to be strategic about this
well going to GS and not getting offer >> not having any offers, so apply and if you get something else choose it over GS?
How do you know before you even begin an internship if you're going to get an offer or not? Unless they explicitly tell you, we won't be extending any FT offers to this ST class for this group?
Its a fairly easy decision, if they say they're not extending any FT offers for this group (which would be a bit odd), then take whatever other BB/elite boutique internship you get. If you only get a GS internship, its a pretty easy decision. And if you just feel like your chances of getting a FT offer at GS is harder then elsewhere... well I don't know what to tell you, but I personally wouldn't for any reason think I was beat before I even began competing with my peers. That attitude alone will ensure you won't get a FT offer, not only at GS, but anywhere else on the street, BB or otherwise. If they're extending offers, someones gotta get it, there no reason it cant be you.
Thirdly, a GS internship (in IBD/S&T) will help you get FT interview. And if they explicitly told you they're not extending any FT offers, well then in F interviews you've got a pretty good explanation for why you didnt get a FT offer.
If you have a GS internship and no offer, you will still be able to leverage your internship in interviews at other firms. (e.g. if you can get GS internship youre probably a decent candidate)
^^ don't agree with that...not getting an FT offer is bad no matter where you intern
if you can make GS as a summer analyst, chances are if you dont make FT, other places will want you... top priority.
depends on your risk tolerance. certain environments may encourage a more competitive work culture because they feel they might get better results. if the worry of not getting a FT offer is turning you off from applying to an internship, you might belong in a more down to earth culture (and hopefully higher offer rate) where you won't have to worry about that.
If I knew who you were and you just said that I wouldn't hire you .... wtf - why are you so risk averse as a junior in college
OP, depends how good your other offers are, offer chance there, how well you think you can do at banking (how good are you at sucking dick is the key question here), do you want to start banking ft?
getting gs summer and then buyside straight is a good play as well fwiw.
given the new system at gs starting in their m&a team may be a bad idea regardless
Do you know the reasons as to why GS does give much FT offers to their summer analysts? What do you need to get the FT offer? Apart from trying to do your job well and being likable??
who said GS did not give as many FT offers to SAs compared to other firms? I mean, any evidence?
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