London Investment Banks with Best Conversion
I'm in a pretty interesting position where it makes sense for me to apply for both Spring and Summers at places i'd like to work, so I have two questions.
(1) Will I get caught for applying to both Spring and Summers at the same place in the same year?
If I can't do this,
My strategy is to apply for springs at firms with known high conversion rates (Spring to summer) and apply for summers everywhere else.
(2) Which Banks in London have the best spring to summer conversion rates?
Cheers
Just go smurf in the spring week cycle bro. If you are considering applying to both - you are not ready / unlikely to get many summers in IBD
BoFA conversion rates are pretty good. Virtually guaranteed from the Spring Week + summer interns have a 10pm working cap
Spring conversion for BofA is 40-45% (I did the spring)
I'd agree with the takes on spring week / summer applications.
On conversion rate:
1) Well done if you have the luxury of choosing among multiple offers (especially if those multiple offers allow you to use the specific names people on this forum might recommend);
2) Maybe things have changed but I don't think there's any meaningful relationship between bank and conversion rate over time (in a single year sure, but not something to take a major decision on); HR typically has a model of headcount needs for the coming years, and hires enough interns in year X to serve the needs of X+1 intake requirements, taking into account typical intern performance, likely attrition rates, etc. If you want, you can hypothesise that BBs will have the lowest attrition rates (GS interns that get offers don't typically re-apply to Nomura, but the reverse is true). And therefore T2 / T3 banks will have higher return offer rates.
Shops like RJ
1. Applying for both Spring and Summer internships at the same firm in the same year can be risky and may not be well-received. It's usually better to choose one and focus on that application.
2. Banks with high Spring to Summer conversion rates in London include Goldman Sachs, JPMorgan Chase, and Morgan Stanley.
Why lie like that? It's cruel.
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