Just as we’ve started seeing a handful of interns saying they haven’t received offers from the firm they interned at, this pops up on Xitter:
These figures come from NACE’s 2024 Internship & Co-op report and include responses from 283 organizations, not strictly public accounting. Return offers are down, acceptance rates are about the same, and conversation rates — that is, interns converting to entry-level hires — are slightly down.
Here’s what NACE had to say about these findings:
The drop-off in the offer rate—which is the lowest reported offer rate in five years—could reflect lower-than-anticipated hiring needs, just as employers’ projections for full-time hiring for 2023 graduates fell from nearly 15% in fall 2022 to about 4% in spring 2023. The lower rate could also indicate problems in selecting students for internships. In fact, employers who gave themselves high marks for converting interns to entry-level hires had a significantly higher offer rate—72%.
In addition, in-person interns received more offers than their hybrid counterparts, 73.2% versus 64.5%. The executive summary can be found here.
If you’re one of the unlucky few who didn’t get a return offer, let us know.