HomeNews/PressWhy Banks Are Quietly Happy to Reject Your Application

Why Banks Are Quietly Happy to Reject Your Application


 Banks, technology companies and universities have really elevated their game with a rather strange form of public boasting: how many doors they slam in people's faces. Low acceptance rates are what's hip in the streets these days it seems

Blackstone Group was the latest to pat itself on the back for telling graduates to hit the road. And not through a press release or media flak. Its co-founder, 68-year-old billionaire Steve Schwarzman, delivered the news on last week's conference call, telling analysts and investors that Blackstone hired just 100 of the 15,000 people who applied to become a junior analyst. That's a 0.7% acceptance rate.

"It's six times harder to get a job as an analyst at Blackstone than getting into Harvard, Yale or Stanford," said Schwarzman, who owns degrees from both Yale and Harvard Business School. He also called the private equity firm an "earnings machine," which it certainly was during the first quarter. 

On the surface, it's a bit odd to brag about crushing the dreams of 14,900 people, but acceptance rates have become a key metric. Goldman Sachs is always happy to offer up theirs - last year they received 270,000 applications for 8,300 positions, or a 3% acceptance rate.Morgan Stanley said last summer that it accepted just 2% of its 90,000 summer analyst applicants. 

But none stack up to Wall Street's West Coast nemesis. Google receives roughly 3 million applications per year, making around 7,000 hires. That's a 0.2% acceptance rate. 


Article from



You have no rights to post comments

Tips of the week

What's New

Get in touch

 (732) 203-0600

 3600 Route 66, Suite 150
      Neptune, NJ 07753

What Our Clients Say

Abigail Consulting Solutions where professionalism and success is attainable.  - K. Morgan 

I referred my aunt to your website in her search for a new employment opportunity. I had explained to her how wonderful you are and how my experience with you and your team was very personal and quite frankly, WONDERFUL!  - A. Amaral 

I like working with Abigail Consulting because the staff goes out of their way to assist me with any issues. They follow up immediately with their clients from the first phone call. I have been treated as a valued employee from the start and I continue to receive outstanding service from them. They are reliable and honest.  - Fatima, Compliance Manager 

My experiences with Abigail over the past few years have been extremely great. I have found them to be very professional, competent, reliable and respectful. They always look after the best interests of both, consultant and the employer. My contact from Abigail has conducted herself with integrity and honesty and has earned my enduring credibility. -B Bakrac

Abigail Consulting Solutions is a company that is concerned with the whole recruiting process. We take pride in sending rock star candidates to the best companies. The goal is to improve everyone's life and career. Overall ACS is a great company to work for and with because they strive for EXCELLENCE in all things! - Jillian Izzard
Office Administrator

I’m enjoying working with the company. I have great respect for the managers who create an excellent environment of Professionalism. The value and commitment the company’s has for the employees and their customers are greatly appreciated. Placing their main focus on understanding the dynamics and professional needs of others. Best Regards,  Nadia