Are there people that actually try to get a job and dont? I just got a job from a nontarget state school and it was hard in NYC but what percent of people would you say about strike out entirely. Even the ones that try hard.
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Everyone tries hard to get a job in IB.
Yes, but how many people that try dont succeed? Just curious. it seems like Ive only seen a failure rate of like 5%
5% failure rate where? Just in BB/EB/MM in big cities or in general?
I went to a semi-target and can confirm many people strike out on IB. The majority of finance majors and a lot of engineers are looking to work in IB and I have seen many qualified candidates strike out. We are talking >3.5 GPA, quality internships and good connections.
I don’t think thats entirely true. Out of the people who say they are trying, I think a fraction are actually trying. Some of them don’t even know the definition of hard work. Good grades and high SAT scores say less about your work ethic and more about your parent’s wealth. IB appears to filter those kids out.
Well if we're limiting it to IBD the acceptance rates tend to be posted online. Even with some noise (programs with lower entry thresholds helping bump up acceptance rates) the average internship acceptance rate at a BB like GS or JPM is in the mid single digits.
Assume 5-10% internship, bit higher since denominator for FT is likely smaller, I'd argue 8-12% acceptance and 88 - 92%% failure rate (IBD or IBD equivalent roles)
Interesting. But for the people who read all the guides and do everything right, what would you guess. I feel like it would be better to go off of the people we have seen at school.
If you're qualified you have a 90% chance of breaking into BB/EB/MM.
Yes
Data is noisy because of how many connected kids go into finance. Many students have parents in the industry. It’s hard for students who are not connected to get in.
Imma keep it a hundred here. I'm a diversity hire and I most likely (80%) would have gotten in without the diversity thing (high GPA, okayish non-target, know my technicals well, network aggressively, plus got a few interviews solely by connects) but without it I'd be a bit nervous. It definitely alleviated some stress. It's hard to get in bro, no lie.
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