Does HR do yield protection for spring recruiting?
I Just dont see how someone can strike out with a mixture of blackstone, ms, jp, laz and roths spring offers but then get absolutely no traction from a db or even the few random MM's they applied to. To me, it makes more sense seeing HR pre-emptively reject the Oxford E&M girl ( with previous relevant work experience, excellent extracurriculars, extremely personable, good finance knowledge, already on the subcommittee of their finance club and is diverse since she's a woman) because they can clearly see she would probably land a ms, or jp or laz. It would save the time of waiting for rejection if there are any clashes once she's got all her offers. Am I overthinking this? Idk but I feel like you can see a clear-cut difference in the quality of springs at say a big4/piper Sandler/another mm than a ms/jp/laz/roths. You could put that down to correlation but I've rarely heard of the people at the top springs who also applied to the less reputable ones actually getting an offer from them for some reason.
You're over-thinking it, in my view.
I don't think it's particularly easy to get the data you're referring to in a big enough sample size to conclude what you're concluding. What is true is that "top" institutions tend to have an earlier recruitment cycle, and so when a candidate has that GS offer, they stop bothering with the PwC process.
Outside of that, and perhaps as comfort to some, this is an extremely random process. At almost every stage of the recruitment process and as much as us banks try to standardise it, there's so much judgment and random externalities (e.g. did the interviewer pick Q3 or Q4 from the behavioural questions and the candidate hand't prepared for Q3 but had a wicked answer for Q4)
Just wanted to say your SB:MS ratio is mind-boggling. kudos
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