Chances of getting job in IB by category
What would you say are the "chances" of someone getting a job in IB based on the following:
Non-Target, No Networking __% Non-Target, Semi Networking __% Non-Target, Hard Networking __%
Semi-Target, No Networking __% Semi-Target, Semi Networking __% Semi-Target, Hard Networking __%
Target, No Networking __% Target, Semi Networking __% Target, Hard Networking __%
Of course, other factors could be added to the list, like academic and resume strength plus how much of a target a school is
what is the point of this
Could be helpful for someone who wants to see where they stand, even though it could be subjective and a lot of it is case by case. It could serve as a good benchmark
Way too many factors for this to be even remotely helpful. No one on planet earth knows this information, not even HR.
Things to consider include: Race Gender Family background What banks you are applying for How good are you at networking The word target is meaningless. Some banks target certain schools while not targeting others.
Not enough information. Definitely needs way more detail like gpa / extra cirriculars / applicable experiences / prior work / internship history. If you want a flat % simply based off of a school and Networking I'd start at .0001% chance and maybe move it up linearly to like .01% chance.
All the BBs post anywhere from 1.5 - 3% acceptance rates which is includes all FT / Intern spots. Goldman reported about 9,700 offers out of 300k a few years ago. There is no way 9700 of those are FO IB offers. lets assume a generous 1,000 of them are IB offers between FT / Internships across NY / Cali / etc. That's .33%. (Again, this is starting at 3% firm-wide acceptance which is on the higher end of the spectrum).
While this is true, your odds of getting into Goldman =/= your odds of getting into IB
Ehh... That's debatable. Let's assume the total pool of applicants is like 500k (if we assume most people send an application into GS / MS / JP as a hail marry because the cost is relatively little compared to the payout of landing a gig there) and each accept the aforementioned 1,000 FO IB internship / FT applications (3k total). Then lets assume there are another like 100 reputable (by reputable I mean you probably won't write home about Westlake Securities LLC) Ibanks (There are probably less but I'll give you the benefit here) and each take 100 kids (again, I'm really giving you the benefit with that assumption) then that equates to 10k spots for the remaining 497k applicant pool... 2%... Being super generous
As someone who went to a Target, here is my take. I'm considering IB to be both BB, EBs, and top MM's like Baird. At my school, everyone who pursued IB full time (and for the entirety of the recruiting season plus "just in time" recruiting) eventually got an offer - but some people ended up at no-name boiler room shops that were pretty much just a rogue MD hanging up a shingle, or Big 4 M&A, or sweatshops like Jefferies.
Target, No Networking - 5% Target, Semi Networking - 50% Target, Hard Networking - 80%
We had a handful of cases at my school where jobs literally fell in people's laps, they were recruiting for consulting or energy and somehow ended up with FT BB jobs doing no networking at all. But there were also the people who killed it during recruiting season, had 4 or more super days, and then went home with nothing.
That was helpful information, and thanks for the estimates regardless of how rough they are
Just a joke, my friend.
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