How often do IB analysts quit (BB and top EB/MM firms)
So I come from a non-target liberal arts, but have a relatively strong GPA (above 3.5) and secured an internship this summer at a boutique, of only about 20 people but who engage in large deals and a handful of multibillion dollar deals. They do not hire out of undergrad and I knew that going in, but thought that the exposure to large deals and the more hands on position I would have given the size of the firm might make it a good internship. Unfortunately despite insane networking efforts I couldn't get any interviews anywhere. Having had constant contact with the head of IB recruiting for the US at a handful of banks and multiple partners and MDs at each of the other places I applied, i was pretty bummed to find I still can't get a foot in the door. Despite this, I have maintained al of these contacts keeping in touch on a weekly or biweekly basis in the event that a position does open up. So my question is now that all positions are filled, how often is it that an analyst quits from their team? Just so I can understand if my continued efforts might be fruitful in the end. Thanks again for any and all responses.
Analysts and associates transition out of banking with some degree of regularity. Analysts move to B School, the buy side, other shops, startups, clients or other finance roles, associates do the same sans B School. Tenure is generally short most analysts are gone in 2-3 years and my most I mean a majority, maybe a third or perhaps a little more stay on to become associates. Quitting in the sense of walking out the door with nothing lined up is uncommon.
I certainly understand that there is a lot of attrition given the stressful hours and work, and also the offers to go elsewhere pulling the talent away from these IB positions. What I mean is given my current situation, do you believe I still have a chance at some of these places given the high attrition of analysts, or is the attrition not high enough where they will still be looking to fill a first year analyst position in the next few months to six months.
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