Speedball Capitalism?
Worst grad market in years. Unless you spent last summer on Wall Street.
Tough time to be a recent grad, unless you interned on Wall Street.
Let's go to the data. We took every summer intern at Goldman, JPMorgan, Morgan Stanley, Bank of America and Citi for the last three summers and followed each one to their first full-time job.
Results: About 58% of their 2025 interns scored a full-time gig back at the bank, up six points on the 2023 class.
And don't just take our word for it. Every question under these charts runs live against our panel of 120 million careers. Click one, poke at it, ask your own. That's the whole point of workforce.ai.
Ask the workforce
Click one. It runs live against 120 million careers.
Which companies brought back the biggest share of their 2025 summer interns as full-time hires?How has the share of bank summer interns returning full-time changed since 2023?All the big boys were up. Goldman brought back about two-thirds of its 2025 class. Morgan Stanley jumped nine points. BofA was the stickiest program but Goldman just caught it.
What can we learn from this? Might there be a trite catch phrase we can apply to this dynamic…hmmm…I got it:
Follow the people, follow the money!
The Economist calls this era Speedball Capitalism. We've seen the biggest IPO ever, the biggest LBO ever, the first transcontinental railroad and media megamergers, record junk bonds. The banks staffed up for it before this activity showed up.
These deals still need a lot of hands, eyes, and hours of attention, which they're not gonna get from the senior guys. But rest assured, alums from these banks are at Anthropic and OpenAI developing scaffolding and super prompts along the line of "Do this deal." How many? Ask the workforce.
Ask the workforce
Click one. It runs live against 120 million careers.
How many people who used to work at Goldman Sachs, JPMorgan, Morgan Stanley, Bank of America or Citi work at OpenAI and Anthropic now, and what do they do there?How we counted: an intern is anyone in the workforce.ai panel whose job at the firm started between May 1 and September 1 and ended between July 1 and November 30 of the same year, with full-time titles screened out. The return rate is the share of those interns whose first full-time job after the summer was back at the same firm; interns still in school are left out. Counts are in sample.
See it live. Goldman's genome, or Goldman against the other big banks, on workforce.ai.