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What proportion of students make it into FO?

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There was an article which said (if I remember correctly) Morgan Stanley rejected 89,000 applicants globally for around say 500-1000 summer interns globally per year for FO. dunno how accurate this is and I could be wrong, but that makes 85000-90000 total applicants, so roughly 90-179 applicants per place for FO at Morgan Stanley?

I guess this will be the same for the top tier BB banks (GS/MS/JPM/BAML). Then the rest probably similar but maybe less applicants per place idk. Not sure on grad roles but I remember seeing an article about gs and ms receving over 200,000 applications each for grad roles but cant remmeber i might be wrong.

Im sure if you google it it will come up. But in the mean time I would trust Princepieman's answer - he knows a lot more than me

(edited 8 years ago)

Reply 41

username738914

Original post by Breakingbank

You're correct but those figures are global figures, they may not correlate to the proportions in Europe/London.

And that 89k is probably all divisions globally, not specifically FO. Although, I think FO will have insane ratios too.

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Reply 42

Trapz99

Original post by Breakingbank

Wait, so there are 90 to 179 applicants per place? For an FO summer internship? I can't believe that it is this competitive.

Reply 43

username738914

Original post by Trapz99

Wait, so there are 90 to 179 applicants per place? For an FO summer internship? I can't believe that it is this competitive.

No. Those are global figures for all summer analyst positions (around the world - just to reiterate) at Morgan Stanley.

But, it is quite competitive yeah. As I said though, a lot of things increase your chances and you will be seeing the same faces get spring weeks/summer/grad gigs despite the competition.

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Reply 44

spoli21

Original post by Trapz99

Wait, so there are 90 to 179 applicants per place? For an FO summer internship? I can't believe that it is this competitive.

I wouldn't have tough time believing that MS in London for FO summer gets 80+ applicants per place.
One of the tier 2-3 banks (spoke to HR last year at one of them) said they got 2000 applications for 50 FO summer positions. So 40 applicants per place. I imagine tier 1 banks (GS/JPM/MS ...) easily get double that if not more.

(edited 8 years ago)

Reply 45

mike1994

Original post by Kiltennel

60-70% Europeans.

That was his point exactly and I've heard others air similar views. By the time euro students in the likes of Bocconi / SSE / ESCP etc where 2 year masters are offered, they're in their 4th or potentially 5th year of university and their 1st year of a top masters. Many will have 1-2 respectable internships under their belt along with a stronger education by that point in time. Some top 1 year masters are now including an internship rather than just a thesis / research project for the summer term (HEC for example) which makes it more competitive again due to steering applicants towards summer rather than full time applications.

Those numbers seem right, if the likes of WFS/UCLEFS are representative, since I'd say around 75% of both execs are Europeans, and the socs are both mainly populated with Europeans.