Insane Competition
Having wrapped up (personally) recruiting for SA 2024 in London, it seems to me that competition is as fierce as it's ever been, if not MORE than before.
I saw an old post saying that competitive for their MM firm was 800+ applications for 4 spots - multiple MM firms I know have had 3000-3500+ applications for around 10-15 spots! Not to mention the inevitable BB competition.
Obviously everyone knows IB is competitive - but my point is that, far from Gen Z being more turned off from the industry, people are flocking to it in greater numbers than ever.
Oh, you're absolutely right! The competition in the banking industry is indeed getting fiercer. It's like a jungle out there, and I'm not monkeying around!
The reason for this could be manifold. One, the allure of the finance industry, especially investment banking, is still very strong. It offers a fast-paced environment, the opportunity to work on high-stakes deals, and of course, the potential for a hefty paycheck.
Secondly, the industry has been pushing recruiting earlier and earlier to snap up top talent before they've had the chance to consider other options. This has led to an increase in the number of applications.
Lastly, despite the rise of startups and the tech industry, many top students still see banking as a tried-and-true path to success. It's seen as a stepping stone to other lucrative opportunities, such as private equity or hedge funds.
So, while the number of seats may remain the same, the number of folks wanting to sit in them is increasing. It's like a game of musical chairs, but the music's getting faster and there are fewer chairs each time.
But don't let this discourage you. Remember, it's not just about being the smartest in the room, it's also about being the most prepared. So keep honing those skills, keep networking, and keep your eyes on the prize!
Sources: Is there any part of the financial industry that is growing?, Why is banking becoming more competitive?
I wonder has the availability of groupchats/trackers such as the ones made by Bristol/LSE increased awareness and therefore applications for roles? These whatsapp groupchats have thousands of members
I think they probably did, but I also think a large portion of those applicants aren't competitive at all. Maybe it did make those at target unis more aware, though
Commented below on the same topic but thought to add it here: definitely has resulted in an uptick at targets in terms of awareness.
The quality of applications due to the uptick are still shite though - when it comes to motivational questions and general knowledge of markets at my target (after I helped organise events with BBs and screening candidates, my god were there some cringe and flat out rejections handed out).
where one can access such trackers?
https://docs.google.com/spreadsheets/d/10vNsyTFX0BTr_yTHGMzApH6iGOCk-NA…
What fucked recruiting this year, was the trackers.
In terms of number of applicants?
Yes exactly, even the admin will be up on a Sunday morning editing the tracker, don't think he ever sleeps.
Where do you find these trackers?
If you Google Bristol Tracker it's the first result
Competition is equally stiff in APAC. Friend of mine applied for a boutique IB role, had over 200 applicants solely for 1 seat
the trackers and the hundreds of youtubers/TikTokers who make IB content
Imagine Afzal Hussein makes a tracker
These people are the worst. Not to mention the three most popular people that show up on my tiktok feed about banking either (a) worked for a random no name shop or (b) lasted less than a year in the industry and act like they’re veterans
If you aren't better than the people who apply to IB roles because they saw a TikToker or some YouTuber shitter, you weren't going to make it anyway.
I’m out of the loop. What’s a tracker?
I gather it's some type of groupchat that alerts when positions of interest open. Seems that many people join these.
It's a spreadsheet with details of every single internship, the start and close date (if there is one) and links to apply.
This is Bristol University's one:
https://docs.google.com/spreadsheets/u/0/d/10vNsyTFX0BTr_yTHGMzApH6iGOC…
It is sad that now the future depends on how lucky you will get when they screen your application. I doubt HR reads 100s of CVs that are more or less similar.
And the fact that referrals from Assoc/VPs also have not weight in this piece of shit city blows my mind… Instead incompetent dickheads with BA’s in Psychology from Brighton deciding on where you place ffs
Not totally true. I've screened stacks off roughly 100 resumes for my firm multiple times a year. Usually HR just asks for VPs and asssociates to help screen resumes. I do believe there is a basic filiter that is used before we get them, even said that, about half the ones I review aren't too competitive, generally not awful but definetly below the rest. Usually about 20% are significantly better than the rest. Winnowing down the remaining ones takes the most time. We're usually asked to advance 30-35%, often with some demographic criteria, which makes it even harder since you lose any sort of objectivity at that point.
You are right about the tracker being a factor. Every time I open it I see at least 80 people viewing the document.
if you are blaming some application tracker on why you didn't get an offer maybe the issue lies somewhere else. The trackers have been a thing at least since 2020.
I got an offer buddy, I'm just saying I noticed that competition was particularly fierce this year
I didn't address anyone specifically in my comment. Congrats on Wells Fargo or whatever shit bank you got an offer from based on your reading comprehension.
No one is blaming it, we are only saying it is a factor on the increase on the number of applicants. Why were you pissed? Are you part of those teams that update them or something lol?
Ldn is becoming either you get a spring week or you go to a AM/PE/MM/LMM/big 4 second year to upgrade to a BB/EB final year
are you saying the 2nd option is worse? like AM/PE then moving to BB?
Yup. The seoncd route is very much the way that's how i broke in and from the sample size at my uni - (semi target) thats a viable (albeit alternative and less trodden) route in.
Agreed - the year was brutal. I got a final-round rejection from a firm, and when I got feedback, I was told that in a typical year, they received 600 applications, but this year, they received 2500 for the same number of spots. So much of this year's process depended on luck, especially in the earlier stages of getting the HireVues or whatever.
The trackers definitely made applications a lot more accessible for many people who wouldn't have otherwise applied, but in general, with finance being so degree-agnostic, it makes sense that it's a top choice for so many students.
Which type of firm?
MM
Yeah definitely agree this year was probably the most competitive ever considering how informed students are about IB recruiting these days (trackers, social media, sites like this) coupled with terrible hiring market.
The trackers made it so MMs were just as competitive as BBs/EBs as before trackers only the driven students would know about them to apply whereas these days any kid can load up a tracker and apply to them.
Also anecdotally think diversity hiring played a massive part this year. From my personal experience, I had quite a few processes ranging from EBs, MMs and PE firms but got absolutely zero traction from any BB (who obviously focus the most on diversity).
womp womp
Agreed; had a decent amount of interest from MM, LMM and EB but absolutely nothing from BBs and have friends who had the same. Weird cycle this year.
It’s been said a few times but it’s because of the trackers. It’s making it very easily accesible. It randomizes the process to a certain extent too because of the volume. I know a bunch of people that have gotten through to ACs with BBs and other shops without them even knowing what they’re applying for while folks with solid CVs get dinged.
I am still recruiting omg. Literally in the early stages! Also applying for London SA. May I ask which one(s) you got an offer for?
Any feedback for next year?
start practicing job test prep early summer
have CV polished august 1st
get on good terms with dartmouth partners
#3 is particularly important
What do you mean by #3?
As in slide in for coffee chats?
What does good terms mean? Does getting emails from them show someone is on good terms or should they do more?
all these people applying for summers have now gone on to apply for springs instead, claiming they are taking a year abroad, planning to do a masters etc. Its all getting out of hand
Sure, it is definitely competitive from a numbers perspective, but don't let that freak you out. Out of those 2,500 applications, 80% are candidates that never had a shot, so you're really competing with the remaining 20%. If you're able to network your way into an interview, the field is leveled and it's all about your performance at that point. School, GPA, etc goes out the window at that stage and it's on you to perform and deliver.
While some zoomers have gone full commie and given up on capitalism, have no ambition etc., another segment of our generation has doubled down and is obsessed with money. There is so much more information available now to high schoolers about front office finance roles compared to just ten years ago. Plus I think our generation saw our parents struggling a bit in 2008 and thought “damn I better try to become rich as hell.”
This all leads to more applicants for every finance role, but I think it’s largely the same number of kids who are qualified. Every application posted immediately gets a ton of applications from people living overseas who will probably never set foot in the US.
100%. As someone born after 2000, I find the whole Gen Z stereotypes so stupid because we’re probably the most divided and unaligned generation ever
I'm a VP in a London based BB (FICC sales & trading) and from what I've observed, the quality of interns we had this summer was significantly higher than what we had over the past 2 summers (covid period). Given how poor FICC revenues have been this year, return offers were well below prior years which means that superior candidates (much better than the covid interns who are now grads) have missed out on jobs. Add onto this the desire/need to hire more women (100% white and private school educated which is ironic) and it's just really tough out there right now.
The one thing I will say is that this industry is in decline and the comp in London isn't nearly as good as what you see in NYC. Since I joined the business we've lost Lehman, Bear Sterns, Merrill Lynch and now CS...just fewer seats going around. I think the problem is house prices are so decoupled from average earnings in the UK that, regardless of degree choice, it makes sense to try for banking just to have any shot at a salary that allows you to get on the housing ladder.
That's interesting, someone I know whose brother works in S&T at a London-based BB said that they noticed a decline in the quality of interns, which is something I've heard elsewhere, too. But what you say totally makes sense imo. For most people, myself included, the interest in high finance began as a way simply to be able to afford a house / a nice life, but then snowballed into a genuine interest.
I heard the same, I heard quality of interns declined due to diversity schemes and lack of meritocracy to screen CVs (this was from a SA at a top 3 BB as well in S&T). Could very well be wrong, though.
How does London comp compare to nyc at your level?
Following the change in law in New York State (where salary ranges need to be published along side job adverts) you can see how big the differential is. As a desk analyst on a credit trading desk, comp in London tops out at around £300k. A similar job in NYC would pay around $600k. Pre-GFC, traders on a credit desk would make 3-4 bucks with a good desk analyst making 800k to a buck. Today, in a great year, a trader might make a buck with a desk analyst making 300-400k. In that same time period, housing costs in London have exploded and taxes keep rising (despite having a "so called" Tory government.
The summers I had this year were also miles away from last year’s quality.
To add to everything mentioned here, I think the greater awareness of these types of careers at targets is going to push out non-targets significantly unless they are representative of a specific diversity demographic.
I have seen, however, people applying to BB events at my University (top 3 target) as I was asked to help organise one (JPM/GS/MS/BoA) and the shit that some of these guys would say in their application was atrocious hahahaha I remember they asked in the form "why this firm" and around 50% of the responses (~ 300+) were like "first of all I love your firm i think it's the best firm in the world my dad banks with XX there and I have an account etc etc" honestly it was so weird. Assuming this continues to the actual internship application (which it probably does 99% of the time), the quality of applicants is pretty shit regardless from my target.
One thing that I think might differentiate applications is to actually mention when, where and how you spoke with a recruiter internally. I was at an AC and they mentioned that this point was definitely what separated my responses from everyone else they had in their candidate pool because the others were pretty vague and just took recent news of the firm from the internet to regurgitate. Also, joining a club / society that is significantly related to the finance theme is a big push provided you did meaningful work like e.g. "analyst in biotech sector, pitched Strand Life Genetics with 12% upside" as opposed to "formatted powerpoints and learnt about DCFs". The latter is NOT going to get you anywhere whereas the former definitely will.
That's very useful, I would have assumed people at targets would know exactly what they are doing and it would be intense but it doesn't sound like it.
I'm waiting to hear back myself from a Top 3 UK target and hoping I get in for the August 2024 intake. I had some questions regarding how to prepare and what I can do before the program starts.
Would it be alright if I PM'ed you? Thanks!
Hi,
I'm an S+T guy so I'm not sure whether I'm suited to discuss AM related questions. However, you're welcome to give it a try and see how it goes!
How should one answer that question? At the end of the day all of these banks are essentially the same.
Mention one or two deals they were involved in, talk about someone you met there, talk about an event that they had previous organised etc.
Don't mention things like "hey I love your bank, I'm a customer and my dad owns Hedge Fund X" like I've seen half the people do, it's cringe.
Hi guys! I need a reliable source for analyzing the crypto market. Do you have any ideas?
how is everyone planning on prepping for the summer?
modelling/excel courses or just keeping up to date with markets?
BIWS modeling courses are great and I can't recommend them enough! That being said, I haven't really used the WSO ones so I may be biased.
Please get very fast with your excel and PowerPoint shortcuts, and all functionalities. Learn how to format quickly and efficiently and most importantly pay attention to all the boring presentations about formatting, and the format style in your bank. When you hit the desk ask for a few examples of good pitches.
I changed banks quite a few times, so I am totally off in terms of what is the current formatting style where I work. I did not do a graph in 3 years, on my own, and sometimes I actually like working with interns as they tend to be more eager and also can ask you some reasonable, or weird, questions that help to think about business differently. But I always struggle to explain them how to do the graphs so if they ask I just send them link to PowerPoint help. On the other hand - I love excel - so there I can help but again more likely I will send you some template or some few excels which you need to put together to get what I need and here I take for given your know most of the basic formulas (vlookup, concatinate, sumifs, choose - please do not use offset).
The quicker you are with your excel and PowerPoint, the more willing people will be to give you more interesting things.
modelling should be also done but overall as an intern you do not do much, and I personally prefer to work with people who will well align my logos during the summer (as this is the most boring part, and I tend to pick up a new vertical so have plenty of boring profiles and logo pages to make sexy) then the ones that will spend 4 hours modelling something that takes me 20mins max. And trust me MDs love to add random logos at random times of the night.
Still if I feel good, will send you my little calc so you can replicate but only if you have shown already sufficient attention to detail. I actually learnt modelling by rebuilding models that associates sent to me on my Saturday afternoons as none had ever time to teach things as was in a super sweaty group so also never fully polished teaching style of modelling by just showing. On the slides, I was once dating a Bain consultant and he run me through 5 hours course on beauty of the slide… never got there but learnt enough to pass on
thank you VP in IB
Do you think Brexit (I.e. post 2021) had a big impact? Before Brexit, London banks filled their seats with UK and non-UK EU students (who required no sponsorship then). So what I think is that after Brexit, banks now have to sponsor EU students, and by doing so, they open the door to non-EU students (before Brexit, non-EU students were more expensive and had no advantage as EU kids already spoke European languages)
I don't think so. There have never been a significant amount of non-EU students, except perhaps Chinese or Indian students, seeking to work in IB in London. Most of them tend to gravitate towards the USA. Maybe it levelled the playing field for them, but I think the overall effect is making it a little easier for UK students.
What does it look like in the US?
I’ve done SA’s for UK/US & tbh I found SA recruiting easier in the U.S. but for FT I found it much easier to get traction in the UK & EU simply b/c in the US they almost entirely hired their interns w/ barely any structured grad recruiting aside from the post-Covid boom. Like for FT I got a few interviews for the US in late August & early September but then it really died down.
IB is dying, you're all aiming at a sinking ship. Each year it becomes more and more flooded. Years will pass and you'll regret it; and all because you pursued mindlessly a path that made sense a decade ago, but not anymore.
.
Every other career bar IB and big law pays shit in the UK so no thanks
It's not the salary, it's more and more stressful to get business on upper positions, and it will continue to be so in the next decade. The stress experienced by seniors will also be felt by analysts and associates. That's also applicable to PE. It's an educated guess from my side, so take it with a grain of salt.
That is the crazy thing with financial services in the UK no? I'm in Germany at an MBB and I get more paid than colleauges in LDN (even considering taxes and everything) with drastically lower COL. I even get 30-40% mehr than colleauges in Italy and more perks on top of that (flying business class even for short flights).
Always wondered why all my UK friends from traget Unis solely focused on banking but I realized over there there are not so much else attractive opps.
In your opinion, where do you think the next wave is? I can’t fathom IB and PE/HF not minting new millionaires for years to come.
Being on the side of reviewing CV's now, the calibre has just been a lot higher, especially given the poor return rates last summer. Really do feel for you guys/gals.
What are these 'trackers' people are talking about now?
University societies have lists of all internships when they open and provide links so that they can be easily accessed by students, they tend to update quite fast too when a new role opens up
I really hate these posts.
Is IB competitive ? Yes
Is IB MORE competitive ? I don’t know and neither do you. Every year, people say it’s “more competitive”. Which class was right ? I don’t know, and neither do you.
In any case, it’s not gonna help you in any way so you shouldn’t spend ANY time thinking about this, and instead spend time doing something actually useful, like prepping for interview
Glad someone finally said it. And this whole "blaming it on the tracker" thing is just... Absurd?! I feel like one person conjectured it was the tracker and then everyone else just followed...
Sorry but if u don't have experience with UK recruiting then you don't understand. It's so important to apply very early and networking isn't required so the trackers made it very difficult to make yourself stand out.
Been to a couple ACs with 6+ people where they were only hiring 1 intern, they had more than one AC too which was pretty baffling.
Same
Hate when firms do that just a waste of everyone's time.
Interned in an elite boutique shop as an IB SA this summer.
Been reading through the thread and i feel as though there's a lot of salt / general frustration given how opaque the recruiting process is. First and foremost, I cannot comment on the BB recruitment process - I have never applied to those programs. Wanted to shed some light on the hiring process given that I was very fortunate to have navigated it.
We were told point-blank by the HR team that there were 6000+ applications for the 15+ spots available in the internship. ~0.3% success rate.
Couple of things for some of the more entitled commenters to understand here:
1) Psych test stage: Now for EBs (or at last the one i'm working at) the main cull in the recruitment process occurs at the psychometric test stage, they'll do the initial bot CV screening and rifle through your motivational answers to the app form submission. You then do the test and depending on the number of applicants, the cut off rate will be raised if they're inundated with apps. So quite frankly, if you consider yourself to be bright (at least when it comes to completing psychometric tests) you should have nothing to worry about. Stop with the "but diversity hires!" nonsense. there's a post test CV check to further whittle the numbers down to something a HR person can actually handle in a normal working day - bear in mind, these folks take their jobs seriously, they'll take work home with them because contrary to popular opinion they don't just toss every white boy's CV in the bin.
2) CV screening: In extremely competitive years, prior experience matters! The majority of my intern cohort were multilingual MFA candidates (from the most obvious school in the land) who already had 6months-2 years of prior experience in brand-name financial institutions and reputable professional service firms! There were only 6> undergrads - myself being one of them! I'm pretty much convinced I only made it to the interview round because at the time of interviewing I had worked for a PE firm for a regional boutique infra PE firm and had completed two online course on financial analysis and accounting. The aim of the game is to stand tf out on paper, my mentality was that if i got into the interview room with an investment banker - I had already won, because I had prepared my answers, knew my why and could sell myself and skillset and had drilled my techs. Also, I study a STEM degree so i had another angle to present. So I'm sorry but if you're yet another entitled Econ or Accounting student whose only work experience is a couple of insight days, the 2-day city investment banking course thing and maybe a spring week at a BB that you didn't convert, and you're here slinging faeces at diversity hiring... you don't even know the game you're playing because you're woefully inadequate background wise. There are tons of Euro kids who are taking your lunch and you're too busy hollering about diversity to notice. There were only 3 non-white people in my internship, and lemme tell you, they earned their stripes. EB's can't afford to and won't compromise their selection, if their talent sucks or is less competent than the BBs, they lose out on deals and it directly translates to a fall in market share. the game hasn't changed it just got more fierce ahaha
3) Initial Interview stages: Quite frankly most people don't have a tangible reason for wanting to get into IB. They like the faux-lifestyle portrayed via instagram, YT and tiktok videos and memes, the money obviously and the supposed prestige it grants you. Hard fact is, most of those vids are made by casuals who last 1, maybe 2 years in the industry, don't fall for it. I feel as though most people have no clue as to why they want the job, if you point blank asked most people what exactly a first year analyst does on the job, they'll mutter some incoherent jibberish. If you asked them for their opinion on recent market trends they'll give cookie cutter recitals of headlines on the FT they managed to recall while doomscrolling instagram. In summary, most people are bloody casuals. If you really want the job, or at least an SA position, fall in love with the process, master the technicals, actively read and track FT articles and form opinions, be able to talk to them and do it early! By the time you get to the interview, you're speaking the banker's language and can actually turn it into a conversation, because I guarantee you, that's 85%+ of what you will do in your 15+ hour days in the office. And ffs be personable, an interview is actually a conversation, ask them about themselves, their experiences etc, bankers love themselves and love talking about themselves even more, lean into that.
4) final stages: Say you sold your well into final rounds with mid-senior bankers (VPs and above), final rounds are all about holding conversations, very rarely will a senior banker test you on technicals, they're more likely to gauge your commercial knowledge and drill your motivations. If you followed my advice in (3), can sell yourself to someone senior in organisation without getting awestruck and freezing and actually have tangible experience to talk to - this is can be very straightforward. It will simply become a conversation between two people who are commercially focused. Also I feel like this should be obvious but I don't think the majority of people practice this, please search up your interviewers prior to the interview and ask them pointed questions about interesting things they've done in their past. It shows that you did your homework and actually cared enough about the process - all good signs for a future hire no?
All in all, stop crying about diversity and bloody excel trackers. If you're seriously complaining about the awareness of internship positions increasing due to technology, crawl back into your mom's womb because you're clearly not ready to grow up. I might go as far as to question your level of grit too tbh. As for diversity, you're not competing against a black kid from Aston uni whose experience is a part-time job as Asda, you're up against some dude from Belgium or France who goes to HEC or Bocconi on an MiM who's done 3 summers at BNP Paribas and maybe even an off-cycle at Antin , who's multilingual and looks the fxcking part too. Stop complaining and work on getting experience. There's an associate at the EB i work at who did 4 years Corp Fin at a Big 4, some dude who worked in the B-Dev at a startup and lateralled, another who worked in investor relations for 5 years and lateralled into the PFG team. If you are really interested in the industry you WILL find a way in, a grad role is and never has been the be all and end all. Competition has increased, that just means you ought to step your game up
Completely agree with most of what you're saying but I have a couple of thoughts:
1. First, the whole "get more experience take" is bullshit. Recruiting in the UK follows a very structured path and if you don't have any industry contacts it's near impossible to get experience outside of spring weeks and summer internships.
2. Most of the people applying for summer internships are penultimate-year undergraduates. Outside of spring weeks or relying on a family friend for a random internship, it's unlikely that they will have prior experience in a relevant field.
Given this, I have to ask how it is that you were able to land a PE internship in your first or second year with (I'm assuming) no prior experience.
I did a placement year, prior to the PE gig, I completed those two online courses in financial analysis and accounting. Was active in investment and consulting societies before that too
Most of it is true besides the point where you say that people spend most of their day chatting around.
However, disagree on diversity recruiting:
- Females have a HUGE edge in terms of CV selection and also getting an offer (because HR wants a 50% diversity and we receive 5x more CVs from males than female, so you do the math).
- There is some diversity selection but it’s not as marked as the 50% gender ratio. Yes, it may help the initial screening if you come from Nigeria but you’re not gonna get an offer for it. I think for SAs if you’re studying in the U.K. then nothing is expected as long as you’re at a good school, but yeah if you’re European or applying for FT the guys we take typically have 2-3 precious internships in finance (including at some good funds), speak 3-4 languages and have a masters degree.
That said I don’t really see a difference in quality for male vs female vs diversity candidates in general. It’s more that people who are not in those categories have it harder to get an interview
Tbh i agree with the comment on women just flat out getting a leg up in the process now. I'll admit there were some absolute duds in my SA program, always complaining, actively dodging work, and adhering to back office hours. Let's just say it raised a few eyebrows but I'll argue it was too small of a sample size for me to comment on the entire industry
Are you done glazing yourself yet?
Nah tbf most of what you said is true. Definitely agree most candidates are poorly prepared. I stood out well with senior bankers with my motivationals because I had simply spent so much time on prep (almost too much ngl). And definitely agree your classic econ target student feels entitled to a SA. I personally came from a STEM semi target background and worked considerably harder for recruiting.
Although I would disagree about backgrounds. UK students aren't expected to have as much experience as EU students. That simply wouldn't be fair. UK University structure is completely different. UK students typically do a 3 year undergrad and recruit start of 2nd year. That gives them 1 summer to get experience and vast majority of companies do not offer internships for 1st year students. Contrast that with EU masters students where it is the norm to do 6 month internships etc. This is why firms like PJT have separate recruitment processes for EU students and UK students.
Secondly to your point about diversity, you are probably right at your EB, however with BBs and the commercial banks it is definitely a massive point in recruiting. I know SAs at GS/MS/JPM who weren't even asked to pitch a stock or talk through the market for S&T SAs and were only asked basic behaviourals.
Ahaha, that was an involuntary glaze my guy. But honestly, I've had it up to here with random ass Econ kids who can't even work their way around an EV value bridge cry online / to me in coffee chats about how unfair the app process is now.
My perspective is, if you really wanted to work in the industry, you'll take your time to learn the lay of the land, master technicals and perfect your story. I can only recommend that way because it's what i did.
Either that or go back in time, change genders, lose a limb or an eye, kxll the LSE kid who authored that excel tracker, persuade one of your parents to get with another race, or consider getting 4A*s in your A-Levels and getting into oxbridge or LSE. Learn three languages while you're at it too. Too many damn excuses
I've heard stories about BB recruiting, it seems a shambles to me. I reckon they don't care much for missing out on "talented" applicants because the harsh reality is, first and second year analysts are a commodity, there's an excess of them in the IB world. Less talented hires (diversity or not) will simply wither and quit at some point - sort of a survival of the fittest game. Personally, i don't get it and i don't want to get it either.
Question: Given that masters and bachelors students are competing for the same roles, do graduate students have an advantage due to prior finance experience / better at doing interviews and talking to seniors etc. ?
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