I've noticed people generally on this forum pick the group/bank that is perceived as "better" yet may have a significantly lower offer rate. Why?
| +185 | Piper Sandler in talks to acquire PWP | 75 | 21h |
| +124 | UBS Appears to be Exploring Sale | 19 | 3d |
| +99 | Paradise Is Paradise | 8 | 1d |
| +81 | Drunk VP. How to manage? | 27 | 2d |
| +39 | How do I take my foot off the gas? (AN1) | 4 | 2d |
| +38 | Lazard US Views 2026/2027 | 13 | 2d |
| +26 | Why did EVR succeed vs GHL or PWP that ended up getting acquired? | 9 | 16h |
| +22 | Mandated 9:00am Arrival? | 6 | 4d |
| +21 | Prestige Upgrade: Incoming Piper Sandler Intern (PWP Merger) | 4 | 5d |
| +21 | How early is to early? | 9 | 8h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Behaviorally: because for most people, from the time they were born until now they have been conditioned to believe they are above average, therefore they'll surpass any statistical disadvantage.
Rationally: if you go to a good group and end up on the wrong side of the cut, you can leverage that to get a good job.
It's still incredibly hard to recover after getting cut. The people I know who've been cut from "top groups" either ended up at lower end BB/MM or went to consulting or took another year and redid recruiting.
Agreed. FT recruiting is very risky nowadays and doesn't look very good for the future. Some people consider you damaged goods if you don't get an offer.
That's a good point
Has conversion rates really gone down that much due to fewer FT positions available? In the past, if a SA didn't get an offer it was because he/she didn't perform up to standard, not because there were significantly fewer FT positions available relative to SA hires. Basically, a FT offer was his/her's to lose.
Considering the fact that offer rates are 50% at some groups I wouldn't exactly say the offer is necessarily theirs for the taking. i think firms just figure that it is easier to hire more interns and then weedout as needed. Not going to necessarily agree with them doing this but it is the nature of many banks.
A lot of groups overhired for this summer and cut 40-50% of interns.
I think a lot of people who go through recruiting spend a lot of time worrying about placing better than their peers with the assumption that once they have the internship they basically have the full-time offer. As one of the commenters pointed out, many of these people have always been the best at what they do, so the thought that they may be average or slightly below average in their intern class may not even occur to them. With lots of BB's only offering ~50-60% of interns back, and hearing about how difficult the full-time recruiting is, it should at least be a consideration.
...
the thing is where would you know about conversion rates ? they change yoy that's why it's useless to worry about :(
Rerum soluta vel et maiores ad. Atque ut quis at et nemo voluptatibus id optio.
Labore iure non est pariatur aut. Nesciunt aut eum laborum aut dolores natus. Ut molestiae consectetur dolorem architecto occaecati. Quo possimus reiciendis eius in non. Veritatis qui enim at recusandae et.
Mollitia molestiae incidunt maiores voluptatem. Est nesciunt quia nesciunt animi explicabo neque ipsam libero. Non labore et consectetur eos doloribus qui saepe ratione. Ipsum totam fugit illo ut quae. Et sed molestiae dolorem vel corporis odit nostrum atque. Maiores soluta maxime sed eum et voluptatum vel.
Expedita aut quia ut recusandae similique. Sapiente omnis sint aut rerum qui saepe libero et. Vel minus at quis doloribus enim vel. Quibusdam sunt illo consequatur.
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...