SA 2022 Return Offer Rates
Now that everyone's SA is wrapping up, let's get a thread started on how return rates are looking this summer.
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Heard from some FT friends that BofA and Jefferies are going to have lower return rates than usual.
+1 Heard that it'll be similar to the return rate before COVID
Jefferies is group dependent for the non-NY. Some at 100%, some not so much.
Wow you weren't kidding. Heard some regional groups at Jefferies had 25-50% return rates.
Do you mind sharing which groups?
As a whole firm, however, return offer rate for JEF was 85% (144/170)
JPM return rates were pretty low depending on the group. Heard some of the larger groups cut ~50%
Was at the second largest group at JP, return there was 80%
Do you know JPM M&A or HC return offer rates?
My group gave ~90% offers
My group had ~40% return rate - people were not happy to say the least
Which coverage group? Was this FIG or C+R?
pls spill thx
top coverage group, ~70% return similar to previous years
Heard some group of CS is still 100% this year
Yes, mine was
How long do you have to accept a return offer?
GS, seems like 80+% across all classic groups
Is it me or does that sound surprisingly high?
That was a fair estimate, it was higher than that in my coverage group
That seems ridiculously high given I heard they "over-hired" this years intern class. Anyone else confirm?
Confirmed.
60% at well known MM bank
WB: ~95%+, everyone with a pulse got an offer. Only people who didn’t either absolutely sucked or were extremely lazy
respect
Anyone know what's happening at UBS? Staffers are being super cryptic
I heard 60-80% from my staffer (not NY).
What office are you at? SF or Houston?
My group got 100% (NYC)
Must have been industrials because my coverage got 60%
BB
85%
Top tier BB. Think it'll be around 50% for my group. Probably around 75% for the division. Already know 3 or 4 people getting cut.
Update: It was 100% and a very questionable person got an offer.
Del
jpm def seemed to vary across the board. some groups 100%, some like 50%
100%, specialized group
Do you all know if these cuts for bad performance/something in the interns control or because banks are cutting back for financial reasons?
Think it is a mix. I was told that banks will generally keep 80%+. Aka cut a handful that either didn’t seem interested, do well, etc.
This year markets are down relative to the Covid peak so they do not need as many. That paired with typical cuts will lead to greater than normal cuts
CS 95%
CS 100%
around 60% return rate at my BB, but it's really group-dependent. Some are 90-100%.
CS 69.420%
Are you sure that’s not DB?
CS 96.4%
Gs ibd SA in SF - 100% across coverage groups (internal source confirmed)
Anyone have insight into return rates at the EBs? (Cvp, Moe, Evr, Laz etc)
...............
JPM HOU was 50%. Brutal
MM IB - 65%
MM IB- 100%
RBC Toronto was below 40%
Goddam. Any chance this is just RBC-specific or is it going to be a consistent theme across all the other big 5 banks in Toronto?
Can confirm BMO Toronto is also below 40%
thats crazy lol, assume a decent amount of the summers that didnt get a return would have deserved it in better years
you know if this was group/diversity dependent?
anyone have insight into p72 academy?
lol interested^
Barclays NYC IBD - 80-85%
All offer decisions were communicated to interns today
hi just curious how did you get this number? for reference, my group return offer rate was 90%, but understand every group is different
Rothschild NY for undergraduates was slightly over 90%
Was much lower than 90%, don’t know where you got that figure
Was much lower than 90%, don’t know where you got that figure
What was it? Knew a buddy who got cut there unfortunately
What was it then? Thought no more than 5 got cut but idk I guess
Jefferies: 85% (144 return offers / 170 interns)
Greenhill NYC 100%
That's surprising given how the bank has performed lately plus the delayed bonus payment thing, is it because of high turnover among analyst / associate level?
Class size always small and junior talent very cheap in grand scheme. No / very few A2A but not a ton of analysts leaving prior to 2 years.
Anyone at UBS know what the general offer rate is going to be?
Top BB, all but 1 as far as I know. Probably somewhere between 95-100% across the floor. If you had a pulse, you got an offer.
At a Barclays coverage group, all the summers got offers
I was at Barclays this summer, 2 interns in my coverage group did not get an offer
That sucks. Why not? Poor performance or it just wasn't a right fit in terms of the job?
BB DCM returned 10/11. Have heard that return rates were high.
WF charlotte 75%, lower in some groups higher in others
GS HK financing group ~30%
let's be honest gs hk ecm hired 7 interns if I am not mistaken while ms only hired 2 and ms ecm is usually bigger in hk / apac generally so in that context 30% isn't that bad given the market.
it is definitely bad lol, they screwed up in projecting and now 5 kids are suffering for it
How about the return rate for classic in HK?
BB NY Group was 75%
Did the offers came out yesterday or today?
Most places 8/12 it seems to be
heard bofa overhired a lot so curious about the return rate
same curious
My group at BofA was 100%
overall 90%
My group gave a few kids generalist non-IB return offers, 90% return to same group in IB
BNP LevFin
4/8 only female diversity
You mean only female diversity candidates got hired full time? Bro that’s sexist af
yep
I take it FT recruiting will be nearly non-existent this year
My advice is that FT recruiting is more of a marathon. Have had friends with no return land two months after their final year ended so you have a while to wait for the market to pick back up (while still recruiting during that time ofc)
Facts, saw this a lot on LinkedIn with kids at my school. Kids with good experience who graduated May 2022 were getting offers like mid July- August
Any word on MS? Interested in summer associates specifically
all summer associates in my group at MS got returns
Any insight into summer analyst return rate for your group and overall?
Citi IB NYC was ~95%, everyone in my coverage group got an offer
does anyone know anything for RBC IB NY?
Our group gave out 90%. All diversity hires got offers that came through a pipeline of prep for prep, teak, etc. If you exclude those candidates it’s more like 70-80% got offers across the board
BMO 80%
heard in Toronto, this was much different
nyc
UBS Coverage NY. 60% return rate overall. 50% summer associates and 70% for summer analysts
Location: NYC
Bank: MM
Interns: 15
Return rate: 14 out of the 15
Overall, this was expected and the one guy that didn’t get a return offer it was apparent he wasn’t getting one so no surprise. Our bank told us if you put in the work and want the job the seat is yours. You just shouldn’t have given them a reason not to give you a slot
What tier MM
Deleted
Coulda just said Lincoln
WB and Baird don't have New York offices bro
Deleted
Is it me or does that sound surprisingly high?
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MM SF (Just got acquired by another bank)
M&A group returned 2/5. Heard some other groups were anywhere between 40%-100% returns.
So Cowen? Based on the “just got acquired” lol
any insights on M&A and TMT for NY?
At my bank it varies. Half of Lev Fin got the axe; my group (TMT) had 2 out of 7 at my location not get offers
KKR Menlo had ~20% return offer rate
What was the class size like? Was this across healthcare and TMT/software?
This was brutal heard
From a friend first hand
Was across infra / hc / tmt
was it because people sucked or just not enough room? Looking to recruit for infra FT. What do you think?
Barc coverage. 100% return rate for a relatively large intern class.
Some of the kids definitely didn’t deserve offers but I honestly don’t care, the bank paid us shit and I won’t be here when they start.
Barclays coverage 90% in my group
Those at BofA, what date did you guys receive return offers and how long do you have to decide? Did you guys hear of offers on 8/12 and get 2 weeks to decide
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