Top BB Considering Auto FT Offers to Selected Incoming SAs
Current talk around extending automatic offers to SAs who had strong internal support and interviews in the last cycle. With lower relative SA offer rates, firm was unable to give auto-offers to all incoming SAs, but wants to protect top talent from being poached. Groups have been allocated auto-offers to ~20%-30% depending on group foretasted needs. Disclosure will be limited to avoid conflict between SAs with and without auto-offers.
Ignore this comment. I'm just here to see everyone overreact to an unsubstantiated claim on WSO
"Internal support" meaning what exactly?
I think its like who at the firm is there to bat for you. So alumni network would obviously held a target more than a semi/non-target. I just feel like if this is actually true, it would just be the heavy targets getting offers while the rest have to fight for scraps. It would change the offer rate from like 70% to closer to 50/50.
interesting narrative but could be either way
I would give my take, but I'm about 90% sure this is a troll so I'll wait until someone can verify this.
RIP indian kids and non targets
Indians from India? Or just Indians raised in America. Don't see what the issue is, they usually fit pretty well with the culture. FOBs on the other hand...
thanks for the insightful comment indian raised in America
troll?
So basically just using the LIFO method?
But that's the beauty of this comment -- it can't be "substantiated" bc OP said that "disclosure will be limited"... giving all of us an explanation why we haven't heard any substantiation bc it's on the DL. Or DQ, or whatever it is. Point is, the story was structured so that we haven't heard because it's a secret bw the "top bucket" people and the bankers... 90 percent this is total troll and not true at all.
Not even sure what this person is trying to say lmao.
Pretty sure nobody remembers how well we did in interviews that happened 8 months ago
I think this post is going to get an overreaction, the idea has only been brought up in discussion but nothing has been solidified. I’m obviously not in the head of HR, but I haven’t seen any direct move toward a partial SA offer extension.
Edit: Unless two different BBs happened to have an internal summer intern update call on the same day with the same idea brought up in Q&A by a random MD, yeah, we probably are at the same bank.
So you work at the same firm as the OP?
LMAO caught. Mod can end the thread now
I'll eat a dick if this is true. The best would get auto offers anyways if they perform well in the internship.
Yeah I dont really see the purpose of giving an auto offer to the "top" interns before the internship even starts. What are you gonna tell them before the start individually that you get a free offer. They'll obviously slack off. And what about the other interns that didn't get an auto offer?
Would be brutal if anyone is set up rejected on arrival so hope this is troll
Can anyone confirm?
Would have to be GS, MS, or JPM, no? Could just do a process of elimination if anyone can confirm the banks aren't doing it.
seems like OP has some private information so not like everyone in other banks would know to even think of elimination
Wouldn't 20-30% be too high? If the offer rate is typically like 60%, that would be already half the class they are filling based on interviews from almost a year ago.
Well if this is true, I sure am glad I didn't take two weeks to accept the internship offer and go shop it around to leverage it
It seems difficult to see how they would make these decisions based on the interviews. How they liked you 8 months ago?
Can you give a little more insight? When is this happening. And is it set and stone?
Highly doubt it. If top talent wanted to recruit elsewhere waiting til the end to give the "auto offer" wouldn't make a difference. Yes, FT lateral spots will be limited this year probably but still
BAML?
BAML is doing this?? Are any of the Top BBs doing it?
Can anyone confirm BAML?
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