Trackr spring week report came out today
Thoughts? Feels like the conversion rate is far too low, are springs getting less impactful?
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Based on the most helpful WSO content, a 20% conversion rate for spring interns does seem notably low compared to historical trends. For example, Rothschild's spring week conversion process, as discussed in WSO threads, typically involves a couple of interviews and a presentation, with conversion rates varying but often higher than 20%. Similarly, other firms have reported conversion rates ranging from 25% to over 90%, depending on the year, group, and firm-specific factors.
The 49% of applicants receiving no offers and the 29% of interns not being in their first year could indicate a shift in how firms are structuring their spring weeks. It might reflect increased competition, changes in hiring priorities, or even a strategic focus on summer internships as the primary pipeline for full-time roles.
If spring weeks are becoming less impactful, it could be due to firms prioritizing summer internships for full-time hiring decisions or using spring weeks more as an exploratory program rather than a direct recruitment tool. However, this trend might vary significantly across firms and regions.
For those aiming to maximize their chances, focusing on excelling during the spring week, networking effectively, and preparing thoroughly for conversion interviews remains critical.
Sources: Rothschild & Co Spring week- Conversion rate?, To all CS interns, Advice for summer and return offer rate?, Desperate, no return from a BB, Full-Time Conversion Rates Summer 2022
Sounds about right
It's pretty obvious there is a bias regarding the 49% of applicants who didn't get an offer. I am sure in reality the number is much higher.
Not surprised of the 20% conversion rate as banks realise that filling up summer analyst classes with spring week converts make them miss out on a large pool of highly talented candidates, especially the European ones who are less aware of these programmes. Also, these spring weeks were structured to promote DEI but that is less so the priority nowadays.
Spring week --> summer internship --> FT is not the common route anymore given how competitive the market is. But it is still a good differentiator on a CV in any case.
To add, at BBs you barely see any UK students in IBD these days
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