For banks that take more than they can give FTOs to, I've heard GS.
For banks that only take as many as they can give FTOs to, I've heard MS, DB, and maybe Citi?
Are these accurate? Where would the other banks fall.`
| +162 | As Lehman people reconvene at UBS, Barclays needs to hire (2023) | 23 | 2d |
| +150 | Worlds Worst MDs Competition (2026 Edition) | 21 | 1h |
| +136 | Is pay at BofA really that bad? | 65 | 14h |
| +100 | Who Killed Wall Street | 33 | 2h |
| +92 | Day at Macquarie | 12 | 2d |
| +92 | Lindsay Clancy - Thoughts from A2 | 21 | 13h |
| +51 | How bad did I mess up | 10 | 3d |
| +41 | EB (EVR/CVP/LAZ) vs MBB (Bain/BCG) | 20 | 1h |
| +35 | Misrepresented Houston IB | 14 | 3d |
| +29 | JPM SMALL CAP or WF/JEF/RBC Coverage group | 13 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
From what I remember during my recruiting sessions:
Citi, Barclays, and RBC all said they DON'T overhire (I also can't remember which EBs, but I think most of them that I talked to (EVR, MoCo, PWP, CVR) said there's a spot for everyone)
GS, DB, and MS never mentioned anything, which would lead me to believe they might overhire, but based on talking to friends, I think it can be very group dependent.
I talked to someone at MS M&A and was told they don't overhire, but I'm not sure if they meant MS as a whole or just M&A.
Same case with DB HC.
Everyone I've spoken to at MS says that they only give out as many SA slots as they have FT offers. I think return standards might vary by group, though
any ideas which groups GS under hires or hires just right? or which groups overhire (so i can avoid)... i think GS TMT overhires?
GS TMT has like a 90% return offer rate and takes around 14 summer analysts for each location (SF and NY).
bump
There’s a FT spot for every Jefferies SA
GS overhires
Which boutiques overhire? (if any)
I heard MS JPM GS all overhire across all divisions in FO
JPM does not overhire. Some groups do lose headcount capacity over the summer though, resulting in no offer even if good, but that was not the intention from the get-go.
why were return offer rates sub 60% in multiple IB groups last summer?
I'm fairly certain JPM overhires
Wells and Blair do not over hire
Thank God these Wells Fargo has a spot for me phew especially given how great Wells' corporate culture is!
Citi, Barclays, Jefferies are the big, full service banks I know for sure that keep spots for everyone
.
Does anyone know about Chicago offices?
The vast majority of Chicago banks don't overhire– intern classes aren't as large as NYC to begin with
Baml, gs, ms, jpm overhire
I think you're wrong about BAML. Pretty much everyone I know gets a FT and they even had space for laterals.
baml gave 85%+ return offers in summer 2019 but historically has been much lower(think summer 18, 17, 16 etc)
do you know how much they overhire? 10% maybe?
I have heard the BAML rates are overall pretty good. don’t tend to overhire. but may be lower this year due to corona
Never seen the prospect in non-profit before. Willing to elaborate?
he's a prospect for DB
I am not even sure the banks know FT headcount when they hire interns. Seeing as some of these interns are hired a year + ahead of summer start date for internships, banks don't know headcount until the end of internships.
Some banks might try to get close to not overhiring, but headcount needs change a lot.
exactly.. interns get offers with the capacity at THE TIME to hire them. Business needs change vastly YoY, that's why sometimes groups don't have room after.
Interns: I was in your shoes recently, and don't blame you thinking about offer rates, BUT don't. I can tell you without a doubt, if you crush it, barring extenuating circumstances, you'll have an offer. Maybe not in the same group, but you will. Of course, sometimes shit happens, but for the most part, they want to hire you. Control what you can control, and go crush it this summer.
Understand what you’re saying but being that most internships are now virtual it’ll be harder for interns to stand out — and harder for firms to evaluate us on their end.
CS offer rates are usually >90% across the board. Cool culture, not very cutthroat
That's awesome to hear. Do you by any chance know about the sophomore intern return offer rate? I'm assuming unless you really fuck up, you're basically guaranteed a return offer right?
Not sure about their IBD division, but I can confirm that they give 100% offer rates within their S&T program.
Anyone know about Nomura?
Qui quia ipsa facere. Eligendi repellendus reprehenderit quo numquam. Distinctio qui consectetur porro ducimus consectetur doloribus perferendis excepturi. Est consequatur cum non adipisci possimus ipsum est.
Dolore aut nihil pariatur incidunt. Voluptatum consequatur labore qui cumque aut quod. Nobis nihil totam est aliquid amet voluptatibus fugit. Ducimus id ratione eaque optio. Distinctio doloribus dolor animi at officiis recusandae sint.
Iste id cumque voluptatem voluptas. Quia odio maiores dolores. Ut molestiae sit qui qui ut nam. Pariatur ut asperiores eveniet molestias incidunt. Et necessitatibus quo recusandae voluptatem perspiciatis et qui. Ipsa ut doloremque vitae natus laudantium pariatur.
Nihil quaerat reprehenderit qui sapiente. Autem odit vel occaecati assumenda fuga aliquid maiores. Sunt in et eum. Velit qui non suscipit molestiae rerum qui. Velit mollitia aut numquam dolorem unde.
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...
Nesciunt facere impedit repellendus aspernatur. Ad quaerat est ut aliquid non. Repudiandae reprehenderit commodi maxime maxime hic sunt vitae.