Return offer rates
For those who’ve heard things, what are the return rates looking like this year? Heard certain groups across the street had an idea at this point.
Trending Content - Investment Banking Forum
| +368 | Don’t work at UBS - UBS Sucks | 36 | 31m |
| +326 | Article - UBS’ Investment Bank Keeps Losing Ground | 41 | 17h |
| +121 | Should My Intern Get a Return Offer? | 44 | 4h |
| +60 | When to Leave Office as Intern | 8 | 3d |
| +54 | Best IB Group Overall? | 32 | 17m |
| +39 | Would you rather be a Touse Squid or a Bouse Mogger in IB | 2 | 3d |
| +33 | What do you say to ppl who don’t know EVR/LAZ/CVP/PJT | 28 | 1d |
| +33 | F*ck it I'm Going to Med School | 15 | 2h |
| +31 | STEM student lost in London IB recruiting | 17 | 2d |
| +26 | [HELP REQUESTED]: Take A2A Promo or Go Corp Dev | 9 | 3h |
Career Resources
Bump
bump
Some EBs (you can probably guess which) are planning to give as many returns as possible
moelis? Evercore?
PJT & Centerview bruh bruh
Not looking good. Think that slightly over half will get returns.
friend got 1/3 in his group across analysts and asso
Same
Friend of mine’s group has a 20% return offer rate for their group
Holy smokes
If this is at a BB this is cap
It is at a BB, not cap
It's so over
We found out last week, gonna be around 50%
Rumored to be 60% for my group
Around 60% in my group as well
Well the asso in my group came out the conference room whispering “it’s tough” and I over heard. at a BB
Bump
We’re so fucked guys!
Del
Across all groups or just yours?
Del
Redacted
Can confirm! 95% in my group
Middle Market looks like it might be 1/3.
My bank (MM) had ~50%
Interesting, HL had 90%+ return rates
My group was 60%
BB?
Deleted
Bump
one of my friends told me his group had a ~15% return offer rate. another connection at a BB told me maybe 50% of the summer analysts are getting returns
How are return rates looking for EBs? Heard LAZ was low
any numbers?
Heard above 90%
….
Interested
As folks rumor over offer rates - I hope people keep in mind that return offer rate really comes in two types. I was thinking about this since my group just announced returns and the rate honestly doesn't capture the full context based on my experience with the summers.
Let's say our group needs 6 analysts - we have 6 interns. Offer rate turns out to be 50% - this is not the ideal situation. In a perfect world would be 100% as we really don't want to have to do a superday and there are merits to building out the same intern class.
Very different from banks / groups where they need 6 analysts and then hire 12 interns. Then in a perfect world the best offer rate you can get is 50%. Both approaches you will find in different bank and groups.
For all the interns and prospects just keep this in mind as you think about offer rates. My group's offer rate wasn't really meaningful since all interns were judged on individual basis and unfilled spots will be filled. But hard to tell from just a 50% or a 33% or a 75% number.
To clarify: do you mean that the reason offer rates were 50% for your group was not due to headcount constraints, but rather underperforming interns?
What did half do to not earn a return?
Part of the low return offer rate calculus is certainly a stronger “free agent” pool of folks without return offers so people think they can get higher quality candidates to replace
For what it's worth, I have also heard the same thing. I know for a fact that a certain MM bank was approaching analysts that were laid off from GS / MS / JPM that spots would be open for them when FT applications opened up.
Yep, seems like there are 6 unemployed Silver Lake PE interns floating around
Top MM, office got nearly 100%.
which MM?
probably HL
Just say the fucking name
~60% for a few groups I know
Can confirm around 60% in my group.
anyone have insight on bofa offer rates?
>90% in most groups. Consumer, FIG, and LevFin likely much lower but others very solid.
Can confirm 90%+ across GCIB (IBK & Product groups).
Anyone know about MS?
Confirming UBS / CS likely around 50% / 20%
Not sure where you got the 20% figure, but there were no return offers given by CS.
Offers would be given by UBS through an application process that included a Hirevue and Superday.
From speaking to other interns, not many people received that Superday so I would put that number closer to 5-10%.
Hey VP,
Do you know what Off-Cycle return rates look like for UBS? And does this vary per team?
Anyone can shed light on S&T return rates?
Top BB snt around 70-80%
My group (MM Bank): 25% (1/4)
Not due to headcount. More so quality.
Goddamn what city
NYC
Can people disclose firm or group? You're anon and I'm guessing your team has other people so would appreciate the clarity.
Heard it was 1-3 out of our total 7 interns. Not looking like a great year for anybody
What kind of bank and in NYC?
JPM coverage group ~70%
--
Big if true
RIP the JP M&A FT offer dream i guess lol
At an EB M&A shop (Centerview/PJT/Evercore)…~80% of summer analysts and 75% of summer associates received FT offers
Is your team planning on making any FT hires or has were the 20% that didn’t get offers just not good enough
What city?
so you're at PJT
Congrats on Baird.
Only one of those had given offers at that point, why not just say it?
All pretty high. PJT was lower
Any info on Barclays NYC?
del
del
….
is this actually true?
EMEA interns wrapping up in 3 weeks - will be very interesting to see comparisons.
What do you think Europe will be
What's your guess?
What was PJT M&A return rate?
BB 50%
BB, under 50%
any info on Rothschild US?
-
GS CMG: >90%
.
Don’t think it’s looking good
Around 50% for most groups I heard
Where did you hear this?
any info on centerview?
Heard it was sneaky bad from an incoming associate
Dude why make up lies?
almost always 100%
Heard was nearly 100
Buddy of mine had class of 14, all got return offers.
Where
Is this Menlo Park?
BB things are depending on groups, but most of the groups have had an above 70%
Some groups got 50% and some groups got 90% and some in the middle
Buddy told me Piper was about 85%
Anyone heard about GS SF TMT? Also, would it be similar or different to GS NY TMT?
high
What does high mean? Is this like 75%+ or 90%+?
Can anyone confirm EVR NY 60%?
~50-60% BB
any info on Mizuho SF or NY?
~80% NYC
100% for Houston and SF
Any info on PWP?
Like 95-100%
Bump
Barclays Menlo 100% return rate today for SA
Any info on Raymond James?
Really curious on MM / LMM banks. Anyone have data for places like Truist, DC Advisory, Stifel, Lincoln, etc.? Heard KBCM was brutal so curious how their peers stack up.
Stifel was around 50-55%
Lincoln was probably 80-90%
~75% for summer associates, ~100% for summer analysts
At BB
BofA?
What's the word with JPM, specifically the tech and m&a group
Anyone heard about returns from PWP?
~90%
Where’d you hear that?
Japanese bank: no placements in m&a group, dcm, sales & trade
This must be Nomura cause I heard they performed horrid this year.
Could be. I heard Greentech had very high return offer rates(90 ish %) though.
Anyone have DB numbers?
most teams cut 1-2 interns
Unsure of whole group, by my office had 100% returns offered. Regional office of EB*
*I fucking hate the term "EB"
Blackrock is not giving return offer decision until late August / early September. All blk interns are free agents for now.
Incompetent HR
who asked?
No way wtf. Why?
They want to finalize the headcount.
This isn't a one-time thing either - this happens every year (the FT analysts said that they got their return offers in Sept/Oct even during the 2021-22 summers).
BMO offered ~85% of interns on Canadian side. Great class this year. No insight on US.
PWP LA summer analyst return rate was 100%, Moelis LA gave out close to 100% as well.
Stifel - 50%
Is this for NY?
bofa coverage 50% return offer rate
Which group? Seems weird given M&A was 100%. Know FIG and Consumer were bad but not this bad.
either FIG, C&R, or NET
RBC ~75%
For summers, we gave out ~40% returns for analysts and ~60% for associates (all finance pre-MBA).
which bank?
BofA (all are +/- 10% and this is nyc analyst only). Lmk if anyone knows anything else.
LevFin: 50%
FIG: 75%
Consumer: 70%
M&A: 100%
HC: 75%
EGRC: 100%
REGL: 80%
Sponsors: no data
Industrials: no data but likely >90%
TMT: no data
NET: no data
REGL is higher
NET ~100%
Any insight on conversion at PJT, Citi, HSBC and Santander?
Citi coverage 80%
Thanks - how did Citi S&T do?
BMO US, 50%
Molestiae soluta recusandae nisi. Dolor quaerat eos veritatis odio sint voluptatem pariatur. Labore tempora ut iusto id accusantium magni consequatur. Repellendus rem voluptates reprehenderit dolores esse. Aspernatur cupiditate dolores dolorem sed possimus et aut.
Numquam qui deleniti ea perferendis placeat doloremque. Magni maxime porro et a consequatur iste. Ea ea atque aliquam soluta voluptate earum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Voluptatibus perspiciatis est a. Vel nobis sit dolore qui et. Dolore omnis corporis tempore aut. Laudantium iusto perferendis sunt illum inventore.
Alias rerum magni rerum esse. Et et et cum odio incidunt quo. Ut quia id eum. Ut repellat molestias placeat sint consectetur. Sapiente et eveniet vel totam iusto rem atque. Aliquam praesentium laboriosam doloremque perspiciatis sed.
Omnis eveniet et dicta aliquam corrupti porro eligendi. Nobis vel ex quaerat excepturi. Earum maiores voluptates ea harum officia et. Voluptatem nam vel quos laboriosam magnam ipsum. Tenetur reprehenderit dolores vel esse eum dolores. Distinctio soluta perspiciatis distinctio odio qui natus quia. Nobis voluptatem laborum nihil quaerat.
Et mollitia recusandae vel cupiditate. Molestias sed omnis rerum consectetur. Laborum voluptatibus ut aut ut mollitia illum. Ullam consequuntur non voluptatum vitae qui. Et optio doloremque aliquid. Et accusantium sit sed commodi blanditiis aperiam et.
Ratione voluptatem amet natus odit laudantium. Veritatis repellendus est nostrum velit sit enim consequatur nihil. Molestiae animi accusamus ipsum ab. Ad eligendi laborum aut ea sunt qui rerum. Qui non eveniet et quas. Quo quibusdam dolorum aliquam accusantium voluptas qui qui. Qui dolorum quo quasi molestias rerum sed.
Cumque voluptatem et vero sit. Sapiente quasi reiciendis impedit eligendi.
Totam officiis incidunt sequi impedit excepturi. Autem laudantium qui quis distinctio dicta soluta. Cum atque corporis velit recusandae adipisci. Facilis recusandae recusandae veniam.
Voluptas sint et ut vel quos totam quia. Corrupti voluptas tenetur rerum officiis repellendus quos. Vero in perspiciatis beatae amet.
Illo est reiciendis sit. Consequatur officiis velit dignissimos illo laborum. Incidunt aliquid odio hic sed quidem.
Pariatur inventore ut dolor asperiores tempora rem. Voluptatem error animi cupiditate natus consequatur. Amet porro nobis fugiat quae labore id hic. Sunt aut est consequuntur aliquid atque voluptas voluptas.
Rerum earum maiores sint laudantium qui exercitationem eum. Quisquam molestias ut soluta ex. Et assumenda quae est rem aliquid excepturi. Error vel suscipit eligendi neque placeat.
Facilis perferendis dolorem sint consequatur fugiat quasi non. Nesciunt dicta dolores accusantium voluptas saepe. Quasi sit dolorem sed explicabo libero illum voluptatem. Molestias blanditiis voluptatibus quas numquam repellendus. Sequi modi quis harum magnam. Excepturi repudiandae odio sint molestias ex enim.
Molestiae repellat cumque laborum sit natus dolorem et. Non ipsa earum temporibus eveniet id porro. Provident corrupti id dolor et quasi cum.
Ex quae pariatur enim. Quasi est illum nostrum fugit aspernatur ipsam dolore. Rem aspernatur et voluptas facere ea sequi. Et sint qui illo.
Corporis dolorem quis non sit temporibus aut aspernatur. Ipsam voluptate nisi nam dolore et. Modi fugiat fugiat libero velit dolor et corporis.
Rerum commodi fugiat quos repellat ut in. Explicabo vitae molestias laudantium ipsa delectus veritatis qui reprehenderit. Nam eligendi iusto ut necessitatibus.