Return offer rates for BB CB interns?
Headed to a BB CB (where CB and IB are lumped together) internship this summer. Curious to hear what return offer rates have been and what people think they’ll be this year. Anecdotally, I’ve rarely seen posts for FT CB analyst positions at BBs so are return offer rates good? Does the calculus change based on intern class size?
Return offer rates for BB (Bulge Bracket) Corporate Banking (CB) interns can vary significantly depending on factors like the bank, group performance, and overall economic conditions. Based on the most helpful WSO content:
General Return Offer Rates: For investment banking internships, return offer rates typically range between 40% and 90%. While CB and IB are often lumped together at some BBs, CB-specific rates might slightly differ due to varying headcount needs and deal flow.
Class Size Impact: Larger intern classes can make the process more competitive, as banks may have a fixed number of return offers to distribute. However, smaller classes might see higher return rates if the group has strong deal flow and headcount needs.
Anecdotal Observations: Posts on WSO suggest that full-time CB analyst positions at BBs are less frequently advertised externally, which could indicate a preference for converting interns to full-time roles. This trend might suggest relatively favorable return offer rates for CB interns.
Ultimately, your performance, networking, and the group's needs will play a significant role in securing a return offer.
Sources: Intern Return Offer Rate, Advice for summer and return offer rate?, All Citi Summer Analysts 2020 receive full time offer, Full-Time Conversion Rates Summer 2022, https://www.wallstreetoasis.com/forum/investment-banking/intern-return-offer-rates?customgpt=1
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What bank are you at
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