have always heard that the return rates of these 3 banks weren't super high, so curious what happens to the kids who don't get return offers every year. can they still recruit FT for mid tier BBs, etc? or does not getting a return offer mean you can't even start your career in IBD?
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Not getting a return offer isn't the end of the world - I've seen people not get return offers from DB and then get a FT offer at an EB. I don't have any empircal data on GS/MS/JPM specifically, but I'm sure they turn out alright.
You also have to think about why that 30% didn't get offers - I would wager that a decent chunk of them realized that banking wasn't for them and probably would not have returned regardless, or would have returned had they gotten the offer but perhaps would have better off not taking it.
Straight to the Gulag
Work in banking, get a golden parachute, they said:
they die
Have friends that didn't get returns for a variety of reasons. 1 went to MM, 1 went to IFC, another went to the strategy group of a F100 company
What is IFC
International Finance Corp. Buy-side, kind of like a Sovereign Wealth Fund but less PE-ish if that makes sense
they die btw
HELL IS COMING
Classmate my year who interned at GS/MS didn't get a return offer because she did everything you are not suppose to do as an intern. She ended up going to MBB.
The vast majority that land an intern offer with the GS/MS/JPM have solid grades and usually from solid schools. These students typically have countless options outside of those 3 banks.
If you don’t mind, can you explain what she did wrong during the internship?
Also interested in this.
also interested what she did wrong
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