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Part

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## New Hires and Applicants

Unfortunately, no pre-compiled information exists online to answer this request; however, we did find enough data to triangulate an answer. We filled in the required data on the attached spreadsheet using the triangulated data.

### RESULTS

For financial analysts, there is a projected job outlook growth rate of 11% over the next 10 years (growth rate of 1.1% per year). In 2016, there were 296,100 jobs total in the sector.

296,100 x 0.011 = 3257 new jobs per year

The majority of companies seem to hire approximately 2% of applicants (range 1.8% to 3%, with majority in 2-2.2% range).

To find the number of applicants, we used the ratio 50:1 of all applicants in this sector to jobs in this sector.

Therefore, we took 3,257 new jobs per year x 50 = 162,850 applicants pear year.

To double check our calculations above, we utilized our calculated number of applicants and the rate of hire (around 2%, noted above). If all jobs applicants are 162,850 x 2.3% hired = 3,745 jobs/year (if you use 2% here, it's exactly 3257 jobs, which matches the calculation above.)

Currently 48% of jobs are taken by new hires with bachelors degrees, whom can reasonably be assumed to not have been employed in this sector previously.

### COMPANY HIRING

The number of applications from students and graduates globally has risen more than 40% since 2012 in the financial sector.

Goldman Sachs told the Financial Times it received 223,849 applications for analyst and summer analyst positions in 2016. They didn’t say precisely how many people they hired into analyst and summer analyst jobs this year, but three years ago Goldman said it had 1,900 full time analyst positions. On this basis, a combined analyst and summer analyst class of around 4,000 people globally for 2016 seems a reasonable estimate. If there are indeed 223,849 people applying for 4,000 graduate positions, Goldman only accepts 1.8% of them.

### Conclusion

Generally, banks do not provide publicly the number of applicants that they receive each year. However, based on our calculations, there are around 162,850 new applicants per year in the investment banking sector. Additionally, this sector employs around 1,560 undergraduate new hires (without previous experience in this type of job) each year. The information requested has been filled in on the attached spreadsheet.