The last time we checked in with Blackstone’s graduate program, it accepted around 0.67% of applicants. Somehow, this absurdly competitive program has become… More absurdly competitive.
Speaking to analysts on the Q2 investor call, CEO Steve Schwarzman gave some numbers for the scale of the private equity firm’s desirability.
There were an astronomical 62,000 unique applicants for positions at Blackstone this year. If that doesn’t stack up, in your opinion, to the 350,000 or so applying to Goldman, then bear in mind that Goldman has around 3,000 open graduate positions - giving it an acceptance rate of 1.27%.
Blackstone has 169.
That’s an entry rate of 0.27% - or 1 in 400 or so people. Harvard, in comparison, has an acceptance rate of around 4%. The Navy Seals have a 6% acceptance rate. 0.27% of women in the United States are named “Beverely”. How many people in real life have you met called Beverely? Yeah, exactly.
Schwarzman admitted that he doubts he “would be able to be hired today,” although he also said that that wasn’t necessarily a good thing – whilst also noting the firm’s “commitment to meritocracy,” and that “many of the best people in the world want to work” at the firm.
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