Roughly 80% of interns who received an offer took it.
Bloomberg News reports that more than 1,000 people, or roughly 80% who received offers, accepted a spot and began working in the past few weeks, Chief Executive Officer James Gorman, 55, said this week in a memo to employees.
Wall Street firms have been touting the selectivity of their programs for recruiting junior talent to counter worries that they’re less attractive employers in the wake of the financial crisis. The acceptance rate of less than 2% is lower than Harvard College’s 5.9% for the coming year’s freshman class.
The title of analyst typically is used for undergraduate students who intern for the summer, and doesn’t refer to research analysts who recommend stocks to investors. Associates are usually graduate school students.
To access the complete Bloomberg News article hit the link below: