3 Comments
 

Return offers in Sales & Trading (S&T) have indeed been a challenging topic in recent years. Based on the most helpful WSO content, return rates for S&T summer analysts (SAs) have been notably low in some cases. For example, one user mentioned that at Morgan Stanley's S&T division in New York, out of approximately 30 interns, only 7 received full-time offers. This suggests a return rate of around 23%, which is significantly lower than the often-assumed 70% conversion rates at some firms.

Additionally, the competitive nature of full-time recruiting, coupled with fewer available positions, has made securing return offers even tougher. Interns are advised to focus on standing out by working hard, taking initiatives, and building strong relationships with decision-makers like Directors (Ds) and Managing Directors (MDs).

Sources: Getting an S&T Return Offer - A Survival Guide for Future Interns, Advice for summer and return offer rate?, SA S&T Return Offer Rate 2020, Return Offers Summer 2016

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Voluptatem omnis aut suscipit nesciunt et. Facere atque et dolorem omnis ut voluptatibus.

Qui dolor optio laboriosam quisquam omnis quasi minima. Unde laborum error nesciunt dolor facere nisi.

Career Advancement Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Goldman Sachs 01 97.8%
  • Morgan Stanley 07 97.3%

Overall Employee Satisfaction

September 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 07 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

September 2026 Investment Banking

  • Vice President (16) $429
  • Associates (51) $260
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (26) $182
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
kanon's picture
kanon
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”