Morgan Stanley IBD London Off-cycle Conversion Rate

Hi all,

I have an off-cycle internship at MS IBD London. I read in a past post that conversion rates of MS OC are not as high as other BBs OC. How low are we talking about? I know BAML OC has basically 100% conversion rate. Does the august start lower substantially the chances of getting an offer? Also considering the fact that august start is more likely to be held in person, so I would get more involvement in live executions that virtual interns don't get.

Thanks 

21 Comments
 

BAML interns this year were at 30-40% at best so not true

MS ones were quite low too, but a little bit higher, around c.60%

Normally MS converts a lot, so dont worry 

 

Where are you from? I might be able to give you some insights about conversion rates based on nationality

 

Hey, I'm also about to start the internship in August and was wondering if there are some groups that don't convert off cycles as much as other groups? Any insight would be appreciated. 

 

If you perform well they move you to another group, so thats not an issue at all

For instance this has happened this year who got moved to Tech

 

Omnis officiis voluptas blanditiis quis accusamus. Et provident est numquam quis. Rerum sit vel qui perspiciatis sed.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 12 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”