Return Offer Rate Drawdown

I’ve been seeing return offer rates of roughly 50-65% across the board. Don’t know whether it’s because of AI replacing juniors or whether it’s due to high comp packages for seniors or whatever it dosent matter. I’m wondering if there are that many people not getting return offers, they would be forced to do FT recruiting.

However I am also hearing FT recruiting is somewhat slowing or is even being ran exclusively through networking (no formal apps) at some banks.

Genuinely wondering what a person does if they didn’t get a return offer and also strikes out on FT recruiting. Like where do you go? Small LMM boutiques?

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