Unsure if this is true now. My friend may have been teasing me because I was always saying how badly I wanted the auto-offer from BAML. I am deleting it. I am sorry if this caused any issues so I am removing it in case it is false.
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IMO I don't think this will sway the BBs anywhere as much as Citi's decision should have, given McK return offer rates were incredibly high in the first place and it's a different industry. The fact that no other BBs have handed out auto-FT yet is not a good sign.
What the fuck? Source?
It is just my friend so I can't provide proof. I'm sure some other people will verify this soon though
Not a big deal. McKinsey's intern program is usually a small fraction of their fulltime hire, so this isn't terribly comparable to banks that rely on the intern pipeline. Still great for those guys though.
so would you think that FT 2021 recruiting for MBB is unaffected by giving interns FT offers, given the high conversion rate in the first place?
I wouldn’t assume a real connection between the two. McKinsey could cut back on FT recruiting by 30% and still comfortably recruit more people on FT than from it’s intern program. Or perhaps I’m misunderstanding your question. To be clear: it’s not conversion rate I’m mostly referencing, it’s that generally speaking, the number of FT people hired by McKinsey is a multiple of their intern pool.
Interesting stuff, as has been said they don't take on near as much interns as banks, but a stamp of approval on the idea of auto-offers from one of the most competitive firms out there is still big news and could potentially shift the landscape
Can anyone else verify this?
Getting nervous that my friend was kidding....would love to know that I'm not absolutely wrong.
Then why would you post it?
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