CS FSG Low Return Rate?
Heard from some ANs that the return rate was low this summer with a couple not getting offers and others declining. Anyone know if this is true? FSG is by far their strongest group, so very curious why that was the case.
Trending Content
| +171 | How to stop feeling like shit for not making it in IB? | 64 | 3h | |
| +124 | If Tik Tok is forced to sell, what banks do you think would be involved in the deal? | 59 | 18h | |
| +85 | Updated LA Banking Scene (2024) | 61 | 15h | |
| +40 | Ranking banks that went under | 24 | 13h | |
| +39 | Burnt Out M&A ASO | 22 | 8h | |
| +37 | Relevance of A-Levels for U.K. London recruiting | 25 | 13h | |
| +33 | A strategy for SA applicants late to the game like myself | 17 | 10h | |
| +32 | Intern Ettiquette | 6 | 1h | |
| +27 | Series 79 Help / Tips to Pass The First Attempt | 11 | 3d | |
| +23 | What are hours like at BBs in London? | 47 | 1d |
Career Resources
Interesting… heard something similar as well. Probably some combo of macro conditions and recent leadership changes. Would be good if anyone at CS can weigh in…
Literally not that deep dude, you’re acting like people are turning down GS/MS/JPM in droves. FSGs a good group from what I hear but it’s not like they’re prestige beasts
Wtf are you talking about? CS sponsors is prestigious, their deal flow is top-notch and exits are some of the best on the street. Get fucked, probably salty you didn't get placed.
Just so you know, FSG will be the one of first (alongside other debt-focused groups) that will be carved-out of CS if the company decides to pivot into an advisory-focused model. Everyone at the company is following the so-called "Strategic Review" news closely (will be announced on Q3 earnings call, management says). 4 MDs left over the summer, don't even need to talk about mid-to-junior levels. Just keep that in mind if you are planning to return or recruit for this group. It used to be and still is a fantastic group. It's just that the mothership is sinking, fast.
Cs M&A was 100% offer rate
bump curious about S&T
Yeah not at CS but curious
My understanding is that their culture went severely downhill after COVID fucked with their recruiting. Their current analyst class is supposedly weak compared to previous years which lines up with recent PE exits.
+1 on recent exits, think juniors and seniors are pretty disgruntled across the board right now
.
Can I send you my resume?
I can carry 12 cups of coffee by myself and have the stature of a pygmy goat that is aerodynamic for tossing toward a large velcro target board.
Is this true? What’s the actual percent of declined offers + no-returns
heard from m&a interns it was like 70% but don’t know anyone in fsg lol
You mean 70% are returning, right? That’s very different from 70% declining.
Was M&A this summer, think it was like 20-25% of FSG SAs not coming back. But their group’s pretty small so it’s like 3-4 interns who declined/no return.
Any insight as to why?
CS insider here (3rd year VP and heavily involved in recruiting)…the quality of our intern class was pretty bad (same target schools) hence why the return rates are low for some groups. Other groups did fairly well and returned 100% of their interns while others were closer to 50-60%. A lot of our analysts exited to the buyside so there’s natural attrition for us to return as many as we want.
Are you in FSG? Overheard from H/W kids that none of the female analysts got buyside offers. Do you know if that’s accurate?
not fsg myself but can confirm this is true. i think it was just a bad year for exits, sponsors usually does well
Have you guys started FT recruiting for 1st year analysts who would join next summer? Do you know how many spots are available and for what groups?
bump
bump - saw someone got an interview but does anyone have more insight?
By quality you mean the general attitude or the work quality they delivered?
From what I’ve heard CS FSG is very old-school discriminatory. Like denied entry at the club because “the club doesn’t allow shorts” type of shit but you know what they actually mean. New Gen Z interns these days probably just don’t fuck with that shit
Don't know why you say that like it's a bad thing. I'm glad that this younger generation is pushing back against some of the garbage norms and behaviors in this industry. In my day, we would have just taken the hits, so kudos to these kids for sticking it to the man.
Nah I completely agree I guess I just phrased it badly. I’m just trying to say it’s probably different these days culturally with the younger interns entering banking. But yeah also glad people are trying to make the work less toxic
Pretty sure "don't fuck with that shit" is Gen Z slang for "won't stand by it", not "can't hack it"
Yeah they aren't saying it is a bad thing. Not sure how u interpreted it that way
Have heard similar things from ex-CS folk.
I’m in the group - this isn’t true. We didn’t give return offers to 2 summer analysts, and had one summer analyst and one summer associate not accept offers, which is pretty in line with previous years.
The summer analyst who did not accept what are they doing instead?
Sounds pretty true to me then. 2 SAs w/o returns and an SA and SASO not coming back. Do you know why?
9/12 summer analysts returning does not mean the group has gone "significantly downhill"
Yep, the why is the only interesting question here. CS Sponsors has had some of the best exits across the entire street, so I'm surprised anyone would decline a return offer. Makes me think either culture or exits have become abysmal.
I’m also in the group and this thread is fucking retarded. This must be full of bots because there’s absolutely no way there’s this much misinformation on this forum. Why are all the people posting as “Anonymous Monkey’s” and receiving a fuck ton of upvotes? Fact – only one summer analyst and one summer associate didn’t accept their offers, which is in exactly line with previous years.
Because people come into threads like this, with no idea wtf they're saying, and literally just repeat whatever the majority of other commenters are saying lol.
for the summer analyst who isn't returning any idea what they're doing instead? buyside?
Why are you making half your comments anonymously and the other half as jacked.to.the.tits? Go turn some comments bro
Anybody know what the return rates are like for the summer analysts for Singapore? I heard CS is undergoing major headcount reduction for IB in Asia in general.
heard it was higher than usual, around 11 for a batch of 13/14
What are we calling a "low" return rate and how big is the intern class? It makes sense if you get more attrition with a larger group due to culture being less cohesive.
CS sponsors is lean — intern class is typically 8-12/year.
I’d personally say anything sub-60% is low but it definitely depends on what return offers have looked like historically
Sounds like people want to get out
I have a 2023 SA offer for CS. Should I try to place into M&A or LevFin instead of focusing on FSG? This thread has me a little worried lol
You're only really going to have time to network for a single team, so I'd focus on either sponsors or m&a or levfin. I had a good experience in m&a, feel free to DM me with any questions.
As opposed to spreading my time across two or more groups? Or are you saying I should gun for only those three groups
As for London, this is not true. As an insider, I know that the return rate for FSG has been very high (>80%)
I'm also in the group and this thread is completely false. As someone else said, only one summer analyst and one summer associate did not return. That's a fact. It's also in line with the past yield rates. Culture is still awesome. Group is going strong.
Credit Suisse hate is overdone imo but you’re literally posting anonymously bro lmao
There’s some edge lord shmuck who thinks it’s hilarious to shit on CS every two weeks in some ranking thread or bullshit like this. It’s getting old so fuck off dude
No one does this, relax.
LA Sponsors here. This is accurate
I’ve got a buddy in LA IB who says that Credit Suisse LA has one of the best cultures on the street. Facts?
NY MD to Bx Cap Mkts?
LA MD to Evercore?
NY DIR to the abyss
But yes - there's a reason why MDs in that system don't leave. Sweet spot once you get there
How recently did they all take off?
Carlyle/WP/Veritas coverage guy (and big UVA recruiter) left last week...
How do I delete a comment?
I was in SA class in London IB and VERY few return offers given. I would estimate 20-25%. Many teams (particularly sector teams) took zero interns and told them they were "too inexperienced"
But another common theme, as said in other comments, (now take with a pinch of salt because no one is ever 100% honest when saying this), is that many SAs were doing the internship with the intention of getting the return offer and rejecting it.
Huge theme of kids prioritising WLB. Asset management was a big one. I think attitudes towards work have changed post-covid and I am interested to see how banks will adjust their work cultures to accommodate for lost talent who chose WLB over money in coming years.
Second this. Many interns were there just for the resume boost, and planned on recruiting elsewhere for full time.
Sponsors team in ldn always take more interns than they can hire, but I’d expect return rates this year to be exacerbated by levfin/sponsor activity in general. Also second the quality of exits, I’ve seen capvest, investindustrial and gs ib lol; this group normally has the reputation of being top notch for exits (if you look a couple years back you’d see funds like EQT) so it sure looks like quality of people has changed.
is the cs career portal also down for people? can't seem to check my application status
Can anyone confirm the group is accepting of uncloseted racism???
Asking for a friend.
CS interns fighting for their lives in the comments right now.
Nulla quia rem enim provident. Explicabo quia id ea optio sequi vel quaerat. Dolore accusamus sed non velit fuga omnis. Et qui ducimus numquam illo voluptas rerum voluptas.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Non perferendis id asperiores sit deleniti. Corrupti eligendi fugiat laboriosam quam error asperiores. Sunt commodi accusantium eos iusto sed quia dolores.
Corporis veritatis culpa iste veniam rerum odit. Ipsum nobis est eos magni et rerum. Eos consequatur qui optio est corrupti. Harum voluptatem velit aspernatur voluptas. Quaerat commodi odio magni eum.
Aut eos voluptatem enim soluta. Nobis at voluptatem nulla et ullam incidunt.
Voluptate magni vel vero magni dolores. Unde distinctio enim veritatis et dolor incidunt voluptates. Maiores quos neque consectetur numquam aut.
Nihil et vel ad ullam qui. Nobis sapiente accusantium voluptas ut. Qui vel laboriosam voluptatem et ut fugit maiores. Sint placeat et ipsam. Aut nisi fugiat suscipit rerum delectus laudantium commodi. Possimus enim sed aut.
Ea qui quaerat laborum repellat voluptas accusantium qui. Recusandae fugiat debitis odio ut ipsa totam eum id.
Sapiente corrupti qui est adipisci voluptatibus. Ducimus error repudiandae ad expedita qui exercitationem dolorem. Et veniam et molestias minima corporis veniam rerum modi. Non fugit delectus et.
Aut in aperiam iste ut. Iure rerum sit omnis quas quo. Eius cum dolores magni distinctio praesentium laboriosam accusamus beatae. Aut aperiam ea tempora perferendis eos. Laborum et quasi iusto molestiae. Perspiciatis numquam necessitatibus velit.