For those who have been working in IB since the previous recession in 2020, what was your groups' summer analyst class size, and how many offers did your team give?
Everyone keeps mentioning how in 2021, teams had 80-105% offer rates, but that was during a record year. What was it like when times were bad? How did people stand out?
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3 Summer analysts. 100% return.
2020 was a weird year because the internships were essentially canceled - basically all short online programs with some networking. Hard to cut people on that. Most banks had very close to 100% returns, some 100% returns were announced before the summer even started.
80%+ offer rates are pretty normal, even across more difficult market cycles. Typically in IB as long as you work hard, show some improvement and capacity for the work, and are well-liked you are more than fine. Analysts are pennies on the dollar, there is always enough work for them to do and you don't even need to pay returning interns for almost a whole year, banks would rather cut heads at the expensive VP and up level.
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