Summer Analysts: what percentage get offers
(Baboon, 159
Points)
on 1/1/07 at 7:55pm
I realize that the answer would depend on the bank, any info would be helpful.






There is no set criteria...
The past year offers were given quite generously 70%+ at MS... in previous years I'd say 50-70%.
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Senior Analyst - Hedge Fund
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Analyst - Morgan St
The state of the industry is important
In years that the industry is doing well, most interns get offers. The reverse is true in bad years.
I summered at ML and it was
I summered at ML and it was around 75%. Friends have told me that CS and LEH have much higher offer rates. I also keep hearing that GS is notorious for having a relatively low offer rate, but don't know how much truth there is to that...
its not that hard to get an
its not that hard to get an offer, because banks want to give out offers to SA. only way you don't is if you put in 10hr work days or are so socially retarded you become a liability.
any specifics on JPM out
any specifics on JPM out there?
what division at jpm?
in S&T over the summer.. it was around 60-70% .. quite low i felt.. but some people were morons.
Not sure about CF, but from friends in that division i heard very high as well for those who weren't retards. :)
livin large in miami
60-70% is usually the
60-70% is usually the average in banking at the BBs. Recently, it's been more like 70% given the good economic climate. I'd say there are a few different types of people who don't get offers. The first, as alresdy discussed, are the "morons" - the people who just don't have the intellectual smarts to be there. These people become apparent pretty quickly and usually have trouble keeping up during the summer - they learn slower, frequently make mistakes, etc. Banking certainly doesn't require genius, but to do the work quickly and accurately, you do need to be fairly intelligent.
The second group of people are the social morons. They're weird and annoying, and no one wants to be around them. I always wonder how these people got internship offers in the first place.
The third group of people just don't have the endurance to do banking, despite being intellectually and socially capable. This becomes apparent quickly as well. These people tend to be very sociable - they have trouble adjusting to 14 hour work days because they want to go out and party on Thursday night.
The fourth group I'd say is the unlucky people. For one reason or another, they end up in a group that just isn't a good fit for them. While they may be socially and intellectually fine and would have been fine in another goup, for some reason it just doesn't work out in their particular group. Maybe they didn't click with their staffer, or their staffer/associates only assigned menial work.
The fifth group would be those people who express their desire not to do IB while they're still at their internship. It's important to keep your mouth quiet and pretend like you're having a good time, since the firm doesn't want to give offers that they don't think will be accepted.
One caveat...I've heard that in S&T, the offer rates are much worse. I've heard it's around 30-40% at some firms.
Ugghh...depressing about
Ugghh...depressing about Group 4...if you're only getting menial work, is there anything you can do about it (as in, is it appropriate to ask for more challenging work), or are you just screwed?