Investment banks' tiny acceptance rates for internships might not be so daunting after all

One of the ways that banks, hedge funds and private equity firms make their internships look prestigious is by touting their remarkably low acceptance rates. Often, summer programs accept less than 1% of applicants. It turns out that's not as impressive as you may think.

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Figures from Business Insider late last year have gone viral over the weekend, stating that the average job today receives 247 applicants. That means the acceptance rate for the average role is 0.4%. 

Internship programs in finance boast similar, if not more encouraging numbers. Goldman Sachs accepted 0.7% of interns for its 2025 summer analyst class. Citadel and Citadel Securities accepted 0.4% of applicants for collective internships across the two firms that year. Fintech Revolut accepted ~0.5% of applicants for its Rev-celerator program. Some programs, like those at Blackstone and Hudson River Trading, are more selective than the norm.

It's important to note that the vast majority of candidates applying to these roles are candidates who never stood a chance in the first place, given that these portals are open for anyone to apply. Internships may be less susceptible to this given that they're meant to be student-focused roles, but we were able to complete a full application to Goldman Sachs without ever having to verify we were a student (which we are not).

It will still be incredibly hard to get into any of these firms regardless of the official acceptance rate. One viral observation on the data was that being in the top 1% of applicants only gives you an 8% chance of actually getting hired. Good luck...

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