Current SA here. Just looking for a clarification on how return offers are determined. Who exactly do the decisions come down to? Is it mainly the analysts that discuss and decide, or is it more of the more senior people? Would be really helpful to get some insight! Thanks.
| +379 | Evercore Intern Seizure | 56 | 1h |
| +74 | JPM M&A is Gone??? Purely Coverage Banking??? | 33 | 1h |
| +62 | Is DCM actually underrated ? | 26 | 23m |
| +53 | How do I understand vs. just memorizing? | 9 | 2h |
| +48 | Losing my personality in Banking | 9 | 1d |
| +47 | Are all Tech / TMT groups sweaty? | 38 | 1d |
| +42 | Associate & Above IB exits | 16 | 4d |
| +33 | Incoming IB Analyst: Best Ways to Prepare? | 11 | 8h |
| +27 | Which groups are ideal for laterals? | 12 | 1d |
| +24 | Thoughts on PEI Global Partners? | 4 | 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.
For most large banking groups:
Last week of your internship the rest of the group meets. Meeting invite generally sent to entire group, but attendance likely includes only analysts, associates, handful of VPs who are particularly involved in the group (staffer, etc) and the 1-2 Directors or MDs who again are quite involved in the group / more sociable.
Go through each candidate and whoever has had experience working with them speaks about them, people point out good things and bad things, with the discussion driven by the intern staffer most likely. There are always 1-2 interns who have gotten their placement through a senior MD, which everyone knows / recognizes.
Then go through a ranking of the interns on the basis of the discussion (if not exact ranking then at least saying ok Intern x and Intern y are our 2 strongest). Before this point the group has been made aware of how many full time spots are available, so by the time you get to the bottom of the ranking list, it becomes a clear discussion of “should we give this guy an offer or this other guy.”
Anyways, that’s how I’ve seen it happen. Takes around 45 minutes and can get fairly heated, with analysts / associates fighting for interns they like / trying to push them ahead of others. As an individual intern you are likely discussed for about 5 minutes at the most.
As far as I’m aware, HR has literally no role in the process apart from the paper work. Prior to the above discussion, HR may be involved in letting the team know how many spots are available (though this also seems unlikely), but I’ve never heard of a case where the group says they want to make an offer and HR comes and says no.
For this summer I would imagine the same though more driven by analysts / associates, and likely a conversation on any red flags that may have been observed. If no red flags then I think should be good to go.