What is the acceptance rate for investment banking internships?
This is common across the industry where acceptance rates for programs are typically less than 2%.
Trackr found that there were around 68 applicants per offer given for summer internships, a success rate of 1.47%. Last time we checked, Goldman Sachs itself had an acceptance rate of 1.27%. Trackr also found that a majority – 57% - of applicants did not receive any offer at all, despite their applications.
How to Get an Investment Banking Internship: The “Ideal” Timeline in the U.S. By the time internship applications open in Year 2 of university – whether that's in the middle or beginning (!) of the year – you should have the following elements in place: A good GPA – at least 3.5 and ideally a bit higher.
Statistics indicate that acceptance rates for top investment banks, such as JP Morgan and Goldman Sachs, typically range between a mere 3% to 5%. JP Morgan is renowned for its rigorous recruitment process, resulting in extremely low acceptance rates.
The good news is that it's easier to get any job at Goldman than an internship in particular. Last year, Goldman said its internship program received 236,000 applicants for just 3,000 open roles (an acceptance rate of.... 1.27% 👌).
Goldman Sachs internships are highly competitive. In fact, the bank is estimated to have a 1.5% acceptance rate — that's more selective than Harvard! However, getting accepted into an internship at Goldman can be a life-changing opportunity.
Landing an internship at this firm can be difficult, though — in 2021, JPMorgan only had around 400 investment banking internship positions available but received nearly 50,000 applications.
Q: What are your GPA requirements? A: We value diverse degree backgrounds and experiences and while a GPA 3.2 (or equivalent) in your undergraduate degree is preferred it is not required. Our training programs are designed to allow everyone, regardless of major studied to succeed.
Bulge bracket banks and almost all other investment banks will look at your GPA when applying for a job and you should include it in your resume. Typically banks screen resumes based on GPA and will often remove anyone below 3.5.
Can I get into investment banking with a 3.40 GPA in a nontarget school? Absolutely. However, it is true that you have to work much harder and be more impressive than people who come from target schools.
What are the odds of breaking into investment banking?
The lucrative and fast-paced career of an investment banker is a highly competitive one. For instance, in a recent year, 236,000 applicants competed for roughly 3,500 internships at Goldman Sachs. This is common across the industry where acceptance rates for programs are typically less than 2%.
The acceptance rate for a Morgan Stanley internship is less than 2%. With tens of thousands of applicants per year, you have to stand out to get in. If you score lower than the benchmark on the online tests, your application will be automatically disqualified.
Morgan Stanley Internships Are VERY Hard To Get
That's a 1.1% acceptance rate. Based on those numbers, it's harder to score a summer internship at Morgan Stanley than to get into an Ivy League. Last year, Goldman Sachs' COO Gary Cohn said they had 17,000 applicants for 350 summer analyst positions.
Recruiting the Best and Brightest
Additionally, every year we welcome 3000+ interns and apprentices, helping them gain on-the-job experience and develop new skills.
Last year, JPMorgan said it had 50,000 applications for 400 jobs in its investment banking division, an acceptance rate of 0.8%. This year, JPMorgan says it had 270,855 applications for 4,604 internships globally, an acceptance rate of 1.7%. Click here to create a profile on eFinancialCareers.
Inside the internship program
Goldman's summer programs are particularly competitive — the acceptance rates for internships across the firm are about 1.5%, including for investment banking, according to a person familiar with the program. Harvard's acceptance rate, by comparison, is 3.4%.
It is very hard to get a job at JP Morgan.
JP Morgan is one of the world's largest and most prestigious banking firms, so the competition for roles is fierce.
The bank has 300 applicants per open position it advertises across the firm, and last time numbers were available, it had a slightly more generous acceptance rate of 1.27% for summer interns. There are easier places to get into – including Harvard and the Navy SEALs.
Companies Considered Too Big to Fail
Bank of America Corp. The Bank of New York Mellon Corp. Citigroup Inc. The Goldman Sachs Group Inc.
More selective than Harvard. JPMorgan, for instance, received almost 50,000 applications for about 400 internship positions at its investment banking program this year, according to a person with knowledge of the company. (Interns typically return as first-year analysts after they graduate.)
What does JP Morgan look for in interns?
We'll see if the candidate has good communication skills and also has good logical thinking. And if a candidate can sum up their previous experience and how they grew accordingly, it shows their potential and learning ability.
Total Salary Range for JPMorgan Chase & Co Intern
The average Intern base salary at JPMorgan Chase & Co is $74K per year. The average additional pay is $9K per year, which could include cash bonus, stock, commission, profit sharing or tips.
Candidates must demonstrate academic strength – a minimum 3.2 GPA for juniors and a minimum 3.5 GPA for freshmen and sophom*ores, strong teamwork, communication skills and a high energy level. An aptitude for numbers is a must, even if you're not a business major.
Information regarding exams you have taken and your scores. Your cumulative grade / GPA as recognized by the university in which you are currently enrolled. Your motivation for applying in 300 words or less. Information regarding your proficiency of other languages.
- University of Phoenix (1,081 alumni)
- Baruch College, City University of New York (774 alumni)
- Franklin University (745 alumni)
- University of Delaware (660 alumni)
- New York University (619 alumni)
- Arizona State University (463 alumni)
- DePaul University (463 alumni)
