Intern Return Offer Rate
I am an incoming Full Time Analyst, but I just wanted to write this because I sympathize with all of the interns coming into this mess. I think this summer might possibly have the lowest return rates ever given due to the drop in economic activity and the sheer size of the intern classes that were selected based off of the strongest economy the US has ever had. I know you guys all worked hard to get to this point and I hope it works out. Be sure to be extra prepared during the virtual internships- ask a lot of intelligent questions, take great notes, and try to get on calls with every analyst/associate/VP etc on your team so they can all vouch for you when it comes time for making decisions on the offer. Also, do lots of self studying on technical questions/scenarios in case they ask you to put together a presentation quickly so you arent caught off guard.
Anyway, I think competition will be extremely tough this year for the interns given the virtual program- PLUS the deterioration in the economy will make it difficult for group heads to sign on many analysts for next year. Good luck everyone!
what’s the point of saying this you annoying shit head
whats the point of saying we are all gonna get return offers?
Did banks hire large SA classes this year? My EB SA class decreased in size YoY.
Im mainly referring to the bigger banks like GS/MS/JPM/BAML etc.- they tend to overhire interns and give low offer rates (especially for the "top-tier" banks)
U from baml?
Not true. MS, Citi, JPM, and BAML all do not "intentionally overhire", can confirm through friends/me interning at one or all of those banks. Some kids don't get offers because they self-select out, others don't fit in, and others are morons. Some absolute BRICKS got offers, so the bar is pretty fucking low to get a FT offer as long as you work hard, ask questions, and make an effort to get to know people. They want to hire you.
Baml isn't top tier. Its on the same level as CS, Citi, BarCap. That being said: CS and BarCap will have higher return rates most likely due to smaller SA classes and that the American banks due to overhire. Traditionally, the return rates are also higher for these European banks.
False. BAML is stronger than all those banks and would in it's own separate tier below GS/JPM/MS. Citi is also stronger than both BarCap and CS that's pretty obvious.
Incoming summer analyst here. I am not claiming to know anything but neither should you. With all due respect to your speculations on "sharp drop in economic activity" you have not gone through a recession, none of us have gone through a pandemic and your comments are honestly not appreciated. There is no point worrying as we have absolutely NO CONTROL over what happens to the economy, and getting people stressed out in the middle of these unprecedented times is honestly the worst thing you could do. Yes, everyone should be prepared, brush up on technicals and make an effort, but overstressing right now will make no difference. From an economic point of view, the downturn in the economy will force lots of companies to consolidate (M&A activity up), the banks are busy doing liquidity tests and cap raises. There is always work to be done. These banks have been making so much money the past couple of years that I highly doubt a couple extra analysts are gonna make them go broke, if anyone should be worried it's the senior bankers. Again, no one knows, but freaking everyone out when you have no concrete proof and we are already having a horrible time is just cruel. Sorry, had to get this off my chest.
Finally a dash of sanity...
> strongest economy the US has ever seen
uh huh. yep.
This guy makes my day.
How does this vouching even work? I assume you apply at another firm for FT but it's not like an intern is going to ask the analyst on their desk at the firm that they didnt get an offer from to help them out? Do recruiters look at your previous firm and ask around and see if anyone will vouch?
. . . I'm not sure I would go and make that call. Especially with a lot of banks giving 100% of the intern class return offers already
It's just Citi and Moelis doing it, no? It doesn't look like the trend.
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