Definitely getting ahead of myself but am just curious to see if you guys expect next years offer rates to be lower than usual considering that this year many places basically gave 100% returns. The idea here is that banks will be taking on more FT analysts than usual in 2021 and might have to trim that down for FTs who will be starting in 2022
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if you doing your fucking job well you’ll get a return. i’m sorry but focusing on the arbitrary return rate adds a level of unnecessary stress that distracts you from the task at hand: absolutely win over your superiors.
This might be a hot take for WSO but all this shit about “ohh I had nothing but positive feedback but still didn’t get a return” mess is for the birds. You will get positive feedback as long as you aren’t fucking every single thing you touch up. Return offers are only guaranteed to the TOP interns, so anything above 30% is actually a high rate when you think about it. The internship is not “on the job part 1” it’s “we think you’re competent— so let’s see if this 2 month long 24 hour interview cracks you”. Those who excel despite the challenge are the ONLY ones who deserve a return.
I know you didn’t mean to sound entitled in the thread, but honestly it baffles me how many people on here bitching about return rates that were 50+% calling them “brutal”...if you’re not in the 50th percentile of your intern class , you don’t deserve a return. (End rant)
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does diversity actually play a role at that point?
Yeah no that’s all just an excuse. There is no “guaranteed” spots for diversity applicants or what have you that shut out all the super qualified white guys who don’t have a deep network connection. What you’re failing to realize is that IB is a very social club-esque environment in which those who “fit in” the team are the ones who get the return. No matter if you like it or not — it’s not a definitive meritocracy and part of the “interview” is seeing if the team likes you as a person. Team fit is just as valid if a metric as whether or not you can spread a comp or write up a company profile. The work itself can be done by literally anyone.
See my comment about “winning over your superiors” being your #1 priority here. The social aspect IS a part of the interview and that can only be assessed in an internship environment where they see how you carry yourself, how you interact with different people at the firm, do you have basic emotional intelligence, can you communicate effectively etc? It doesn’t matter if you’re diversity or if you have connections. If you notice that those who have connections keep getting offers— it’s because they know about the nuance to separate themself from the pack. All these soft skills that go over WSO hardo’s heads because they think “running the perfect model” is the key to the promised land of IB. It’s a sales job.
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