September was a crazy month – start of school, recruiting, NBMBAA, Football, and tons of new faces! It’s good to be back and see everyone again. Time to jump in!
This is our first placement report for the school year. Best wishes to the new 1st Years as we start a new school year, and great to have our new 2nd years back from their internships and ready to pursue full time recruiting.
First, let’s congratulate all those who accepted full time roles in September (no internship accepts in September):
A request – please make sure to submit all offers and your acceptance into the database at the end of each month.
Now, let’s turn to Placement:
We believe there is a reporting issue – we think we are probably doing better than September shows. It’s a good start, but prior years were much farther along through September for Full Time. Internships are probably on track, it always is very slow through September, but will pick up.
Turning to International Placement:
Full Time: Good start, significantly ahead of last year, behind the 3 year average.
Internship: Just starting, 1st month is early.
Let’s take a look at Full Time Job Offer data:
This metric is a leading indicator of sorts. It helps us see how the market is responding to recruiting efforts. As you can see, we are well below the % of students who have an offer, but I think this is misleading due to the reporting issue. I believe we are doing much better. Same logic for placement…I think we are doing better than 14%, but we’ll see.
Conversion is our next look – Through September, # of internships were converted to full time accepted offers:
Historically, we convert approx. 40% of our 1st year internships into 2nd year full time accepted offers. We are tracking to historical data. This is a good data point – it means that 60% – wide majority – accept an offer outside of their internship. They either received an offer and turned it down, or they did not receive a FT offer to return. There is plenty of opportunity to land a FT offer if your internship did not work out.
In Summary:
September is in the books, all are adjusting to the work of school and recruiting, and September and October are crazy, crazy months with so much going on. If you are feeling overwhelmed, relax – you are right on track and in very good company!
I leave you with a quote from Warren Buffett:
“If you’re in the luckiest one per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”
― Warren Buffett
Until next time,
Rick