Comments (98)

Most Helpful
  • Intern in IB - Cov
2y 

Wow that's amazing. Wonder where all the disgruntled folks are who were slinging MS at kids for just saying direct FT conversions were even possibility. I remember explicitly saying that certain EBs are most likely to do this due to their already 85%+ return rates and relatively small class sizes and I was told by all these so-called experts that there was "100% no chance" of this happening.

  • 36
  • Prospect in IB - DCM
2y 

Moelis has historically had bigger class sizes compared to other EBs, no? Regardless, this is an unexpected but amazing move by the firm.

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  • Associate 1 in IB - Gen
2y 

Nope, that's Evercore. Moelis, IMO, seems the most "safe" place to be, at least as an Associate given that they do both M&A and Rx out of their generalist pool (IDK about Analysts). Rx has a ton of deal flow so there will definitely be work to do for the interns to justify keeping the summer program, especially when 2nd year Analysts leave for PE

  • Prospect in Other
2y 

Are they trying to expand their analyst class?

  • 1
  • Prospect in IB - Gen
2y 

They're aiming for ~36 for summer 21

2y 
ch2intl, what's your opinion? Comment below:

What's your new start and end date? Is entire internship virtual, in-person or combo?

  • Incoming Analyst in IB - Cov
2y 

Wow congrats to those going to Moelis. I think it's far likely for boutiques with strong RX platforms to do this - wouldn't expect BB to do this at all.

  • 5
  • Business School in IB - Gen
2y 

Really tho? I mean, if Moelis takes ~20 summer associates and traditionally has an 80% FT offer rate, it's really only given out 4 more associate offers than it normally would have. Would that really entail them to cut summer'21 recruiting entirely? I can understand if it's decreases slightly, but not an 'RIP Summer'21' situation, unless I'm missing something?

Not disagreeing, genuinely curious...

  • Business School in IB - Gen
2y 

I was definitely being overly dramatic. Think that recruiting will be down for MBAs next year anyway due to the current downturn (my base case is that the economy won't be back up to speed by the time MBA offers are given out in early-January). So if banks were going to have a small class due to the economic situation and they are also carrying a larger than normal class from the year prior, I think it's looking pretty lean. Tons of flawed assumptions in there but that's just how I'm thinking of it.

  • Intern in IB-M&A
2y 

moelis is the best brand

  • 8
  • 3
2y 
calvincoolridge, what's your opinion? Comment below:

Best brand for being a HUGE sweat shop with miserable juniors that can't wait to leave, having employees commit suicide, and having staffers do bed checks on the floor at 3am. Best brand by far!

Array
  • 3
  • 7
  • Intern in IB - Gen
2y 

Sounds like someone got rejected from Moelis lmaoo

  • 3
  • Prospect in IB-M&A
2y 

Hoping other EBs follow suit! Congrats to all the Moelis SAs.

  • 6
Funniest
  • Intern in IB-M&A
2y 

So does that mean I have no chance at FT Moelis offer?

  • 8
2y 
Bourbon18, what's your opinion? Comment below:

I can guarantee that there will be a lot of early departures from that class

  • Analyst 1 in IB-M&A
2y 

Ya very interested in hearing about the London class

  • Intern in IB-M&A
2y 

Sadly their EMEA operations are not performing as well ... I doubt the same happens to their EMEA cohort

  • Analyst 1 in IB-M&A
2y 

Could they afford reputationally to only do this for some regions though? just curious. It feels as if they do it for one region they must do it for the others as well. Have there been instances thus far where banks, that have already announced certain policies for the summers, have decided on different policies for different regions? genuine question bc I don't know

  • Business School in IB - Gen
2y 

Hard to accurately judge interns in 4 weeks, so they're giving them the benefit of the doubt and extending FT offers. The global pandemic wasn't the interns' fault. EBs also tend to have high conversion rates (~80%+), so this really isn't that much more of an expense for them, compared to what it would be for, say, a BB

It's also good PR / avoids bad PR, since it shows they care about their people, etc. Like someone above mentioned, it's very possible they chose to act first out of their EB competitors to offset some of the negative publicity they received last year from that staffer email. Others feel free to add, just my $0.02

Controversial
  • Associate 1 in IB-M&A
2y 

Very good friends with some guys at Moelis, and from hearing their stories, I have a feeling this isn't going to be 100% conversion rate. Moelis loves to throw the kitchen sink at people, and I can see the "virtual 4 weeks" as just an onslaught of modeling tests and mock pitch presentations.

Last year they hit them with an intern case assignment in one of the busiest weeks of the summer, and were not lenient at all with the grading, giving Ds and Fs on the models and pitchbooks the interns put together.

If you read the email (posted on Litquidity IG), it says "successful completion" of intern program. I have a feeling they are going to try and weed a few people out - not as many as normal - but I think a few will get dinged.

  • Incoming Analyst in IB - Cov
2y 

Agree with this. Have heard similar things from those I know already at Moelis and two incoming FTs. Best of luck to the incoming SAs who think this means they get a cakewalk to an offer lol

  • 3
  • 3
  • Analyst 1 in Other
2y 

False, it just says "completion" not successful completion. More importantly...the first sentence is literally "we are pleased to extend a full-time offer to you". There was no sneaky wording. They all got offers.

  • 4
  • Associate 1 in IB-M&A
2y 

Guess we'll find out come August - obviously this is pure conjecture - the summer was such a god damn slog for those poor bastards last year. Legit had it worse than every other group on the street, prob only tied with JPM M&A. I just can't reconcile that experience with this University of Phoenix online class that is getting pitched.

Who tf knows what the deal is.

  • Prospect in IB-M&A
2y 

While I agree it's likely the virtual program will be intense, I'm fairly sure these kids have already received the offers, contingent on basic completion.

  • Intern in IB - Gen
2y 

I'm an incoming intern at Moelis and can confirm everyone got explicit full-time offers, regardless of performance on any "case studies" given during the virtual internship. Offer is just contingent on completing the internship a.ka. not doing something stupid to get you fired mid-way.

  • 2
2y 
budandgordon, what's your opinion? Comment below:

Did they give you guys a deadline for deciding? Curious about these actual and potential FT offers -- will SAs still have ability/desire to explore other options?

  • Intern in IB - Gen
2y 

All the interns are having individual calls with HR next week and I'm assuming we'll find out the deadline then

2y 
ch2intl, what's your opinion? Comment below:

Didn't the kids sign a summer contract? If so, then will the contract be revised? If new or addendum to contract, my guess is that there will probably be some contingencies to the FT offer.

  • Prospect in S&T - Other
2y 

Could other EBs follow? Couldn't really see BBs as conversions are never even close to 100%, but maybe for EB

  • 1
  • Analyst 1 in IB-M&A
2y 

How likely do y'all think MM banks with similar sized SA classes (Blair, Baird, Lincoln) would do this too?

  • Intern in IB-M&A
2y 

This aged so poorly.

  • Prospect in IB - Gen
2y 

Congratulations to Moelis 2020 SA class! Really sorry to all Moelis FT candidates.

  • Prospect in IB-M&A
2y 

i guess from the firm's perspective it's also great that they can retain talent by signing them on early! this pretty much prevents ppl from trying to lateral into competitors / buyside for ft

2y 
27offs, what's your opinion? Comment below:

Probably a good chance considering CITI already has. But for the ones that are known to have large intern classes and low return rates like GS, probably not so good.

2y 
Summer Monkey, what's your opinion? Comment below:

Thank you! I'm waiting to hear from MS since they haven't told us the starting date yet either. Hopefully we'll know by mid-April

2y 
Summer Monkey, what's your opinion? Comment below:

Thank you! I'm waiting to hear from MS since they haven't told us the starting date yet either. Hopefully we'll know by mid-April.

2y 
Lmogfg, what's your opinion? Comment below:

Anyone have any advice on how to study for technicals/ if we should expect a lot of stuff from outside the guide for Moelis SA 2021?

Array
2y 
ch2intl, what's your opinion? Comment below:

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2y 
dracolnyte, what's your opinion? Comment below:

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  • Analyst 1 in IB - Gen
2y 

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