How many people apply for investment banking and how many people actually get in?
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Depends where you are, what firm etc - but often hundreds apply for a single open spot (at least that's the case in Australia).
In 2013 (I believe) GS said it had 17,000 applications for 350 intern spots (if I recall correctly). Not sure if IB only but I'm guessing it was. This is US btw.
Wow dude, I think I can bring our pieces together.
Goldman Sachs is regarded as the top investment bank on paper. So, everybody in the investment banking hopeful population (17,000) are going to apply there. Then Vettery, said the investment banking analyst class of 2012 had 1,400 analyst. That means there are 17,000 applicants and only 1,400 of them get jobs. Wow.
Dude are you sure goldman recruits 1,400 analysts a year? Are you sure that's not the total number of analysts working at Goldman, worldwide?
When I was recruited, and this is post-GFC, HR told us they had >10,000 applications online for the grad program and had only extended ~300 invites to the cocktail party which was essentially the second round interview stage. Think we ended up with less than 25 grads in IB roles, probably 20-30 in retail and another 50 in back office. Most of the IB roles went to kids who had already done internships. It really is a giant fucking lottery and I'm sure it's even worse in the states..
many will enter, few will win.
No, you misunderstood.
Goldman Sachs is the top investment bank so everybody who wants an investment banking job will definitely apply their. Notthehospitaler said that 17,000 applied.
Then Vettery said the entire investment banking class of 2012 (GSM, JPM, Lazards, the bank across the street, etc.) was 1,400.
This is incorrect. People don't all apply to GS because many know they have no shot. Vettery (I'm pretty sure) also hasn't included all the IB boutiques etc out there in their calculations.
Applications for IB will be greater than 17000 for sure, but assuming there are also more than 1400 spots. Keep in mind Vettery may take IB to include capital markets, S&T etc as well - meaning the actual IB spots are far fewer than 1400.
@"diverse_kanga" based on what I've heard/read, I actually think IB is more competitive in Australia, purely from a numbers perspective.
Obviously it depends but if you are coming from a good school, you are likely to get an offer somewhere.
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