Morgan Stanley's CEO James Gorman wrote in an internal memo that the bank received 90,000 applications for summer analysts and associates, Bloomberg News Michael Moore reports.
The bank extended offers to 1,000 of those who applied. That's a 1.1% acceptance rate.
Based on those numbers, it's harder to score a summer internship at Morgan Stanley than to get into an Ivy League.
Last year, Goldman Sachs' COO Gary Cohn said they had 17,000 applicants for 350 summer analyst positions. That gives Goldman about a 2% acceptance rate for internships.
