Summer Internship. Found out no offers in the group. What now?
(Senior Baboon, 235
Points)
on 7/18/12 at 3:41pm
What do you do if you found out the group you're interning for is not taking any new hires for next year?
I'm a solid intern and MD think I'm decent but just due to how the group works they can't hire anyone due to the dead IPO/FO market and the headcount?
I really planned to leave this summer with an offer. What do I do now?
Don't full-time recruitment at other banks all basically hire their interns leaving may 0-1 spots for a huge number of other people entering FT recruitment.





Yes, most big banks load
Yes, most big banks load their FT class heavily with SAs. Nothing you can do about it.
Start networking now.
So I'm basically screwed.
So I'm basically screwed. Wow
So much for my dreams of working in IB. :(
AspiringAnalyst01: So I'm
So I'm basically screwed. Wow
So much for my dreams of working in IB. :(
No you're not, stop feeling bad for yourself and get back in the fucking game.
Throws cold water on
Throws cold water on myself*
I'm back in the game, I guess the rest of summer I'm gonna be calling 100 people and go back to my excel spreadsheet of contacts. :(
Any advice? Who else got screwed?
Don't have an "I got screwed"
Don't have an "I got screwed" attitude about it. No one is owed an offer. I know non-targets who ended up at BB banks FT this year who didn't have SA positions at those banks, so talk to everyone you can and something will work out.
Be happy they told you now
Be happy they told you now and not a month from now. I'm sure there groups all over who have space but have an intern who they know isn't getting an offer. Cast the net.
If you're really that good,
If you're really that good, they'll find a space for you in a different group. Even if you don't get an offer, you have experience and can apply for FT positions and network. If your team like you and think you are good, they will help you find something.
See my other WSO blog posts>
Yeah my head of group is
Yeah my head of group is arranging for me to meet with LevFin but the problem is all the other groups have their own interns.
Also I'm pretty sure my MD
Also I'm pretty sure my MD (Head of the Group for the entire bank) is willing to be a reference for me during Full-Time.
Would that be a big plus for me when I hit FT at other banks and I should mention it during interviews?