Conversion rate
Do y’all think conversion rate is gonna be dinged this year due to the market? What about tech groups in particular?
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bump - wondering the same for S&T 💀
BofA will be brutal this year.. they massively overhired interns
how many interns did they hire and how many FT spots do they usually have if you know?
Do you have any insights on JPM and if they overhired as well or is it solely BofA?
interested to hear as well
Yes close buddy with our staffer.. fees down 40% this year but hired 50% more interns than past classes
across the board or just in IB?
Group specific or across the board?
Across the board
I believe they hire every intern with the intent of having a full time spot for them. If you work hard and and do everything that s asked of you, then you will be fine
any insight on MS & GS?
In a coverage group, we got 18 interns and are expecting that year's FT class size to be 8. Good luck LOL
are offer rates usually even close to this low?
Del
Do you know how big the FT and/or SA class was last year or year before? Is this tech group?
Sounds like gs?
Is this true? Why would you overhire so much?
This has to be GS MS tends to hire in line with what they need, as reflected by smaller analyst classes to begin with.
Is it the same for analysts vs. associates
When I was going through group placement at my BB for SA22, the bank had two VPs on the call that confidently told the intern class that the bank had 90%+ FT return offer rates. Does this type of stuff mean anything when someone says it or do they just pull any number out of their ass when they share that type of stuff to just answer intern questions and move on?
Another incoming SA here- around what month was your group placement process/were those comments made? Was this before or after the stock market crashed? I’m curious if the last month has caused banks to reevaluate
The process went from early February to first few days of March so definitely before the crash but figured since they told the entire class return rates, everyone already had expectations set for the end of summer
Never trust such a comment lol specially in an environment as dynamic as the one we find ourselves in right now.
I know a group at GS that consistently tells all interns that there’s a FT offer for everyone but ALWAYS hires only 50% of the people.
Which group is this?
Del
That's a pretty bold assertion--can anyone confirm this? Based on previous threads about GS return rates the general consensus seems to be 70-90. 50% seems suspiciously low. Curious because I'm incoming
Can confirm - this year's rate of the team is only 30% even lol
Wouldn’t be too worried generally.
You aren’t starting FT until 2023 and aren’t remotely expensive (ie getting a bonus) until 2024. Banks know that short term view is irrelevant and if they’re concerned now they’ll fire mid level people who are way more expensive.
Maybe it won’t be like last year where it’s close to 100% everywhere but I’d expect it’ll be in-line with historical norm. My bank I know is still doing the whole “one intern, one FT seat”
which bank? MS?
Is this DB/UBS? HR told us almost the same thing "one intern, one FT seat"
Any insight in boutique land?
another thread said laz is looking at ~75%
Which thread?
Incoming BofA IBD intern here….we have 180 interns for sophomore and junior SAs
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