Summer 2024 Return Rate Predictions
Last two years have been a wash for obvious reasons. Assuming an interest rate cut in Spring, what is the sentiment on how this incoming class will fare?
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Following. My hope is good, but the MM I'll be interning at converted all of their interns this year so I have reason for hope
Which MM can I ask?
DC advisory
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Assuming banks will hire smaller SA classes, should be fine? With all the layoffs recently, some of the teams are in need of analysts but you never know what things look like next summer
Yep agree. Problem last summer was banks recruited SA classes before shit hit the fan so they were too big. This year they should have recruited appropriately
There's no way to tell until we are in the thick of it next summer. It's all based on deal flow so while they may have hired less Summer Analysts based on last year's deal flow there's no way to predict what return rates will be like since deal flow relies on so many factors that are out of control. I'm also hopeful that I'll get a return and there will be high demand for 1Y Analysts across the street but I try not to think about that and focus on getting prepared to be the best SA I can be, so even if they only take 1 I'll have a good shot. Focus on what you can control.
The bank I was at this past summer for my SA brought their intern class down but return offers were still a bloodbath. I'd prepare for a downside case (continue to lightly network into the spring and show up to a few virtual info sessions for other banks) but hope for the best. It's brutal out there but wish you all the best.
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My shop only takes 1 intern a year so I think I have reason to be optimistic
Trying to decide between an MM which has 90% conversion vs BB which is 70%. Given how bad FT recruitment was this year should I take the risk or not?
take the bb. No return rates are guaranteed
Take the MM, you will be unemployed and have to live in a tent
Should I actually? I have no perspective on FT recruitment as none of my peers are doing banking
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