Final yr, a slide deck made by Goldman Sachs junior bankers detailing harsh working conditions made waves throughout the trade, fueling hypothesis that the trade had misplaced its attraction for youthful employees.

However that hasn’t precisely transpired, if knowledge from Goldman is any indication. The financial institution mentioned that 236,000 people utilized for internships globally on the financial institution, together with 79,000 within the Americas, in response to knowledge offered to CNBC.

As an alternative of dissuading candidates, final yr’s Wall Street boom — which led to overworked bankers, in addition to widespread raises and bigger bonuses — appears to have drawn extra curiosity to the top-ranked funding financial institution. The variety of school candidates jumped about 16% from 2021, reaching a document stage, in response to an individual with information of Goldman’s figures.

The internships are a ceremony of passage on Wall Road and a vital pipeline of expertise for funding banks and the broader monetary universe. College students who can endure the rigorous internships and get picked up for two-year analyst packages after commencement will usually have their selection of jobs, or “exit opportunities,” from personal fairness or enterprise capital corporations to hedge funds and fintech start-ups.

However Goldman can solely rent so many interns, who’re sometimes high-performing college students in between their third and fourth years of faculty. The internship acceptance fee is simply 1.5%, in response to the particular person. Interns who’re supplied jobs after commencement turn into first-year analysts. About 202,000 candidates utilized for analyst jobs, up 27% from the prior yr.

Within the U.S., internships begin June 6 and will likely be totally in-person, just like final yr. The agency locations college students throughout its numerous operations, from funding banking to buying and selling, asset administration, analysis, technique and client and wealth administration. Goldman CEO David Solomon has been among the many greatest advocates for a return to workplace life, and executives usually cite the necessity for junior employees to be taught from these round them as a purpose.

“Bringing our individuals collectively is core to our apprenticeship tradition and client-centric enterprise, particularly as an employer of selection for younger individuals at first stage of their profession,” Vicki Tung, Goldman’s world head of expertise acquisition, mentioned in a press release. “We sit up for welcoming our latest cohort for an in-person expertise this summer time.”