no full time offer from SA position

I also have the same problem... am at a solid bank but am pretty sure I won't be returning. however i am on a trading desk and simply am not interested in the product. i declined an ibd summer offer with GS/MS earlier and now i really regret it... I don't plan on lying, seems like theres a lot more downside than upside. I plan on interviewing for both ibd and s&t positions (heck any living thing that will hire)

OP, I think that your assumption about them asking about offer from internship may be somewhat unfounded

Throught several interview processes, I have never, ever been asked a direct question like that regarding other job offers

When I had an FT interview last Nov (while holding a deferred FT offer for summer 2009 from my summer 2007 internship), I was not asked at any point about any offers I had on the table, maybe this happens more in the U.S.??

I highly recommend NOT lying if you are asked this question, HR personnel meet each other all the time at on-campus presentations and shit like that, and we all know those girls like to talk, so I don't think it would be that difficult for firm X to find out if you've got an offer from firm Y. Obviously due to Data Protection laws, this would not be strictly legal....but I bet it happens

Maybe other users can give you more of an insight into how to answer that question if it does come up

It's important to make interviewers realize that you're still a talented individual who remains interested in the industry, which is a more difficult task to when you don't get a FT offer. But with the job market so crappy, people should be more understanding. Gone are the days when every qualified SA could get a FT offer.

One way to answer is to tell the truth (i.e. you didn't like the division or the product and feel that something else fits your interests/skill set better). Then be proactive and offer up a name of a full-timer you worked closely with (the more senior, the better) who can vouch for your competence and your explanation. You want them to make that phone call in order to eliminate any reservations they may have about you.

Never lie.

Agreed, never lie, that can only hurt you more than it can help. Worst comes to worst just be completely honest and spin it to help you. I would say something to the extent of "I had a great experience, and learned a ton but at the end of the summer I didn't get along with the people I worked with. I realized just how important culture and the types of people you work with are in an industry where you are with them for 80 hours+ per week and that is a big reason that I am here applying at X bank because I have spoken to people and heard the culture is like _____ whereas at my previous bank it was like ______." I don't know, maybe thats garbage, but I'd say whatever you do, don't lie.

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I am not playing devils advocate when I say getting an offer from the summer is very important. Whenever I interview someone for a first year position that had a SA position I ask if they got an offer. Some of them can explain decently why they didn't get the offer i.e. I slept with a VP and it is now ackward.

But why are you so sure you don't have an offer. You are only half way through your internship. You need to shape up and make sure you get that offer if you are serious. Even if you don't want to stay at this firm, your resume will look much better. Think about it, you need to work your butt off and kiss up for 5 weeks. That is NOT so hard, especially if you plan on going into IBD where you will need to do this for 2 years.

During my summer, my mid-summer interview was terrible. They had little positive to say and loads of negative. At my final review, the reviewer said he has no idea how I did it, but I only had positive reviews at the end. Needless to say I got the offer.

You still have a chance.

"I had a great experience, and learned a ton but at the end of the summer I didn't get along with the people I worked with. I realized just how important culture and the types of people you work with are in an industry where you are with them for 80 hours+ per week and that is a big reason that I am here applying at X bank because I have spoken to people and heard the culture is like _____ whereas at my previous bank it was like ______." "

----Follow up question by interviewer to that answer will be : "how many people did you talk to or do informationals with at your SA bank? Really? So how do you know you'll get along with us?"

Actually, at some banks (like Lehman), they have 2 8-week internship periods throughout the summer, and the first 8-week session is ending this Friday. They do this so that they have more of a variety to choose from and so they don't have to recruit for FT. So the OP may only have 3 days left in their SA stint.

Well, hopefully you have done your research, gone to informational sessions and have spoken with alumni at that bank so you can rattle off some info like I did x, y, z. In my experience if you show you have really done some research to find out what the firm is like, more than just the vault guide, they like that. But thats just my experience.

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That line is the kiss of death. Another followup could be "so what do you feel are the differences between this firm and your previous one?". Needless to say, it's a tough question to answer without throwing your previous firm under the bus, which you don't want to do.

Ignore your friend, don't lie. It might work, but I could also see a situation where they ask follow-up questions about your offer (e.g. when you have to accept, base money, signing bonus, etc) where you would have to keep making new lies up, and that is a situation you don't want to be in. As others have said, I think recruiters will be more understanding about not getting a FT offer in this market. Try and get at least one or two senior guys to like you, and then offer them up as someone who can vouch for your intelligence and work ethic.