IB Return Rates for Diverse Candidates — What’s Going On?
Serious question: has anyone else noticed how brutal IB return rates have been for diverse candidates this year?
Across multiple peer groups at top schools, I’m hearing numbers that are shockingly low — the kind of hit rates that would’ve been unthinkable even 2–3 years ago. We’re talking multiple BBs and EBs where barely anyone is converting.
The shift feels tied to the post–affirmative action environment and the broader political climate. DEI went from being a recruiting priority to something firms tiptoe around, and in some cases treat as a PR liability. You can see it in staffing, in feedback loops, and now in who gets the call back.
Feels like IB is quietly retreating from DEI, but nobody wants to say it out loud. Is this showing up in your shop too, or is it just an oddly concentrated bloodbath in certain places?
The catering to diversity candidates and separate accelerated DEI programs have stopped at my bank, thankfully. But I wouldn’t say the DEI candidates have been noticeably converting at a lesser rate.
Definitely a lot of tiptoeing around the DEI pullback as well.. it’s like HR implicitly still wants to prioritize DEI but they know they’d get in trouble for saying it.
N/A
Because people no longer are getting special treatment due to physical characteristics. I view that as a positive for merit, fairness, and efficiency.
There are still plenty of “DEI” candidates converting offers and performing well… they just no longer are receiving special treatment.
Because hiring someone because of their race is... get this.... racism against the people who weren't considered BECAUSE OF THEIR RACE.
Because DEI SUCKS
No more special treatment (which is real, I am a diversity / minority hire) bar is now the same for all candidates.
Before some firms were hiring trying to hit diversity targets, which now are gone / no more pressure (which is fair IMO)
Pendelum swings back and forth, and at the receiving end of it are always those without power. Funny how that works. Companies appease government policy across countries and across policies. Remember, the goal of the corporation is to maximize shareholder value, and you sure don't do that by going against government policy. Last government = pro-DEI, zealous levels of DEI hiring. This government = anti-DEI, DEI people hired during the previous regime probably not getting an offer unless they are truly special (remember, for most of IB, the vast majority get a return; so effectively being held to a higher standard). You can argue this is fair or not fair, but just kind of how the world works.
The strong will do what they will, and the weak suffer what they must.
We actually evaluated based on merit this year
Ah, the classic ‘merit’ line as if merit exists in a vacuum. The same target school pipelines, family connections, and unspoken preferences are somehow not ‘special treatment’? DEI’s so far in the shredder now that some folks don’t even get a fair shot; they’re already carrying the stereotype that they were only brought on for DEI before they even walk in the door
Ahh, the classic "I would have made it if you weren't RACIST" excuse.
I know a guy who worked in MFPE who is struggling to get a new gig because of this. Guy was genuinely very good
It goes both ways, but based on your post point of view, I do agree it will become harder. It now becomes do we take the DEI kid or do we take the clients kid. 9/10 with HR no longer stepping in to protect the diverse candidates, it will be the clients kid. Now who’s to say you can’t outwork the client kid and be on another level to where they won’t cut you; that’s for you to determine. But I do agree a DEI kid doesn’t offer the same return as a connected client kid. The reality.
Can confirm client kids batted a thousand this year at my bank
Good. We need more client kids. There is immediate chemistry with the seniors which is best for efficiency (at my MM)
Maybe some people will try to become more qualified rather than receiving an offer based on dei hiring.
Don’t know someone more qualified then a Harvard>goldman>KKR guy but maybe that’s just me
RBC here. We're still too woke unfortunately. ~70% of the intern class came from the women's program.
Which group?
70% of the RBC SA class were women? This doesnt seem right
go put the fries in the bag bro
I always advise diversity candidates to just go through the “natural” way as much as possible rather than these artificial programs. It’s just an easy way to put an unnecessary X on your back.
I actually don’t agree that “structural stuff” from 70 years ago doesn’t trickle into today. Yeah sure Jim Crow quite literally doesn’t impact anyone anymore, but everyone is handed a random set of cards they cannot change. That’s who your parents are, where you were born, and the values you were taught growing up. Some people do get an unusually tough set of cards and yes there tends to be a higher concentration of them in “diverse” communities. Now whether or not you think a bank should take on the mantle of fixing structural issues that are quite literally in the purview of the government is certainly up for debate, but that’s neither here nor there.
You just have to be undeniably impressive. I do think we’re evolved enough to where it largely doesn’t matter as much where you went to university. If you have an impeccable resume and ran your school, no matter where you go - you can usually get a shot to get into a good group in the industry. Are you entitled to a shot at GS/Q because of it? Absolutely not, but the headache is way less when you’ve done it the right way. Then you know in your heart that you achieved something no one can point and detract from.
Do think having a DEI pipeline helps to diversify the candidate pool / bring different perspectives to teams. Also think DEI should not be factored in when deciding on full time offers. If the individual is good, then give her/him an offer. Merit should be rewarded.
I think DEI has had absolutely zero impact on bringing new perspectives to teams because the real issue is not bringing them in, it’s retaining them. How many years have we had these rounds and rounds of diversity recruitment pathways and how many of them are retained to senior levels? Still abysmal, so I think firms should take more effort is concentrated mentorship once they’re on the desk. I do think it’s very good in diversifying the pipeline. Banks have widened their aperture to find diamonds no matter where the rough is, which is generally good in my opinion.
I think the way we consider DEI in return offers is wrong too. Right now it’s like X/10 spots is reserved for diversity, which is artificial and intellectually lazy. I do think there should be a better organized effort to bring DEI candidates who aren’t quite polished / technical enough up to speed within the first half of the internship. Then we let the chips where fall where they may by the time comes to evaluate offers. I will say then though, the idea that there is a perfectly meritocratic way of choosing offers is laughably false. By definition we’re just choosing who we liked working with best, everyone knows that almost anyone can learn the job over a certain period of time (even if some get it later than others). There is only a very small population of people who just aren’t cut out for it, but trust me I’ve seen both DEI and non-DEI candidates fall into this bucket lol.
The main problem with DEI is we break so many things for this artificial DEI population that never makes it past the analyst years anyway. These kids come in are expected to just immediately “get it” and invariably flame out compared to peers who have been primed to crush this 2 month interview for years now. Whole system is just flawed
Had to oversee two this summer as senior mentor. What you’d call DEI (and got offer through that recruiting path) actually passed with flying colors with no hiccupes. The standard person actually had challenges (despite being stronger on paper), but eventually ended up fine. It’s not all as it seems
Did it drop to 99%?
Enough with this mansonian helter skelter banter.
If true, great news!
Thank god I work in Asia where we don't have to deal with this diversity bs
The shift away from diversity hires toward merit-based recruiting is a good thing.
Doesn't change the fact Chinese, Iranians, Indians have higher IQs than Europeans as per latest data in 2024.
You can beat Latinos and Blacks. Sure.
But the big non-European civilization are still crushing it. And that's gotta hurt....
"Chinese, Iranians, Indians have higher IQs than Europeans as per latest data in 2024."
Source ?
Lol, "chinese, iranians and indians" which one's not like the others?
Tell me youre an indian without telling me youre an indian.
I'm a Persian. We are not the same.
No, you aren’t racist at all (detect sarcasm).
Then again, we already know your antisemitic, so this isn’t particularly surprising.
those people aren't the ones labeled DEI retard. most large banks are american and european, lets get that straight. go work for mizuho if u have a problem with that
I’ve worked with lots of people who were killers and fit the DEI label
I’ve worked with lots of people who weren’t, and were killers
I’ve worked with lots of people who fit the DEI label and sucked
I’ve worked with lots of people who were entitled, useless, and bitched all day about DEI
Who wants to guess the distributions on the donut chart ?
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