I hear this all the time when DE Shaw is mentioned. Supposedly, only 1 out of 500 applicants are offered a job. I know they're selective, but this just seems absurd. Does anyone know if this is really accurate?
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This does not seem absurd.
Just think of all the unqualified people that apply. Goldman, for example, receives close to 20,000 applications online. And they offer jobs to what, at most maybe 400 kids. A conversion rate of 1 out of 50.
So true, I have interviewed with them before.
This seems slightly high to me as well. Also, Goldman has a bigger name globally so they are getting any kid with an accounting or finance degree. Only finance professionals will have heard of Shaw so they wouldn't even get as many applicants as Goldman, even if they are more exclusive.
Yeah but DE Shaw is also a far smaller company than Goldman and takes far less people. Having interviewed with them before this does not sound at all unreasonable.
I know a guy at DE Shaw. He's ridiculously smart. Harvard Grad, Did advanced work in Comp Sci and Math.
I agree with all the other posts. I've been to interviews at ok MM ibanks and been told that they received a few hundred applications for one open position analyst position. It's a tough market.
I know someone extremely well there and he interviews at least one person PER DAY, I'm not kidding, every day he interviews people and he isn't HR.
It's meaningless. Try posting a job on 20 different sites and you will get 500 responses. Big deal. I'd be more impressed if they hired 1/10. It would show they have an efficient and effective recruiting process.
There are job postings for secretaries that get 400+ responses per opening. It's so easy to apply for stuff online that any job listing will get tons of random apps. The DE Shaw figure is misleading because it's counting all of those random online apps. If you have a solid resume from a target school, your chances are MUCH better than 1/500.
I've heard of worse this year. 700 applications for one SA position at a hedge fund.
do you mind telling us which hedge fund this was?
I interviewed for SA at Credit Suisse london and I know for a fact that they received 15000 applications for 35 offers. This is from HR's mouth.
Conversion = .23% or close to 1 in 500
Take that for what its worth.
I hate DE Shaw
Pourquoi?
I hate smart people.
dude you can get as many resumes as you want for just about any job when the unemployment rate is over 8%. There are literally lines around the block anytime a union job opens up.
Unemployment rate for people with bachelors degree or higher is in the 4-5% range, double digit for those without.
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