Spoke to HR at a bank that has extended full time offers
They said that banks did speak to one another about their summer programmes. There was no consensus, but they said that they did not expect significantly decreased conversion rates for internships even at banks that don’t give automatic offers SIMPLY because “Private Equity firms will continue to poach talent, especially in recessions, and they need to be replaced”.
After thinking about this, I can see the rationale. There seems to be a tendency for PE firms to raise funds during recessions to capitalise on undervalued assets etc.
Well did they mention anything about increasing conversion rates but not all the way to 100% ? And by automatic offers are you referring to the ones that have announced automatic offers or are there still ones that have yet to announce it to their interns plus ones that have this "secret auto offer" BS?
HR doesn’t know shit. The heads decide what the headcount need is
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