Return Offer Rates During a Reccession
The economy clearly isn't in the best of shape although the stock market seems to show that we're holding up pretty well. We already have 30-year inflation highs, the Russia-Ukraine war, and the fed wants to raise rates 5-7 times this year. I personally think this is going to slow growth in the economy and companies won't hire as much as they did during the pandemic. Wages have already shot up almost 15% and I don't think firms are going to overhire moving into a possible recession. This worries me because I think return offer rates are going to be a lot lower than in previous years at firms.
Is this true from what you have seen and from people that have had experiences going through the GFC or other downturns in the economy, what would you do to hedge if you were going to be a college graduate in the next year or interning at a firm this summer?
Just apply
I've heard that firms are already at capacity by the time FT recruiting starts so should you be applying while doing the internship?
IB is about chances, there may be a recession, but we are still out here doing deals anyway. You're just giving yourself excuses, just apply get the offer and then decide, literally no one has any clue what the acceptance rate is because this differs from region, bank, group, office, team, diversity.
just apply to rx groups
Was wondering if you guys have any insights on whether this would also apply to the Corporate / Commercial Banking division of BBs? My line of thought was that interest rates going up would be a positive for Corp / Commercial Banking since it's likely that the net interest income (profitability) would increase (which has been indicated in my BB's 2022 forecast).
Curious to hear whether current deal and market trends are only primarily adversely affecting just IB or other FO divisions as well.
Thanks!
for S&T - as someone who interned in a down year headcount-wise....you absolutely have to fight. survive. say a class of 10, maybe 3 of you make it out alive.
just do the best job you can do, network extensively - be the 1 guy in your class that they HAVE to hire
ur SA class was only 10 people? I feel like that's on the low side. Were you at a MM or boutique? I heard that BB have a lot more interns maybe about 50-60 in a specific department. Also, what did you do to standout compared to other interns like was it product knowledge that you already had or more so your networking during the internship?
keyword "say" - just an example bru. fwiw yes i was/still am at a BB
ppl overweight the importance of technicals - what ppl want to see is growth, i.e. someone who is moldable....not someone who comes in thinking he's hot shit cuz he knows some fifth derivative financial math or smth. networking super important yes - get ur face out there....esp in a down year where headcount is scarce, u never know who's hiring....also take some initiatives, doesnt have to be super groundbreaking but if u can do small little things that show thought put in making peoples' lives easier - that is a MASSIVE plus
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