ive heard that the jpm return offer rate for summers is around 60%, can someone confirm or deny? and seems that recently kids have been choosing places like lazard, pwp, and moelis over any BB besides GS and MS.
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"recently kids have been choosing places like lazard, pwp, and moelis"
personally have not seen this at my HYPSM. PJT/EVR/CVP compete with MS/GS(JPM to a lesser extent), and then LAZ/PWP/MOE compete with BAML/Barcap/CS/Citi. Gug/GHL are generally chosen over UBS/DB.
at my HYPSM I haven't seen anyone turn down an EB offer (EVR, PJT, CVP, PWP, MOE, LAZ) for anything BAML and below (citi, barclays, cs, etc)
EVR/PJT are considered untouchable at mine(GS usually preferred over CVP), but for my cycle saw Barclays over Moelis and Citi over PWP.
Curious as to where GHL falls
The 2 reasons top candidates pick top banks like LAZ over other top banks like GS are:
1) They like the EB feel and wanted an EB. EBs also pay more (EVR pays the best on the street according to WSO)
or, and this is much more likely
2) The EBs recruit first. EVR closed apps and will have their SA class filled months before GS and JPM even open on July 1.
If they had 2 offers at the same time then #1 would be much more likely. It’s not like people hate GS and they don’t want to go, it’s more that a bank with a name as big as LAZ will still pay you as well as GS and you’ll get the same kinds of exit opportunities. A bird in the hand is worth 15 in the bush when it’s possible that you can get an offer at the first bank you apply to and possibly not get a single interview for the rest of the summer.
Interesting because last year EVR recruited after GS/MS/JPM to my understanding. the tables really turned
Yeah EVR was dead-last last year. Now they’re first, and many banks are pushing to the fall. I think that everyone would honestly be much better off if they held off on recruiting until junior year, like they used to.
Interesting to see how JPM's intern class turns out this summer. If I recall correctly, a lot of their recruiting took place in October/November, which is when pretty much all the other BBs and EBs were wrapped up.
Do you think that the intern pool might be comprised of 'less strong' candidates?
Yes
i feel like jpm has the least targets candidates speaking from superday experience
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