I don't want to start a new thread like the last one, but I got an offer for a Superday at a BB, and in the email, they said that they could not reimburse travel expenses
Seems a bit odd, but this BB is having the most problems with the credit crisis, anyone else get this? I am a from a non-target so I'm sure that makes a difference too.
I'm fine with forking out the money too, but it does kinda piss me off that they can't reimburse the plane ticket at least.
| +355 | Evercore Intern Seizure | 54 | 7h |
| +67 | JPM M&A is Gone??? Purely Coverage Banking??? | 31 | 6h |
| +58 | Is DCM actually underrated ? | 24 | 17h |
| +50 | How do I understand vs. just memorizing? | 5 | 16h |
| +48 | Losing my personality in Banking | 9 | 17h |
| +47 | Are all Tech / TMT groups sweaty? | 38 | 13h |
| +42 | Associate & Above IB exits | 16 | 3d |
| +32 | Incoming IB Analyst: Best Ways to Prepare? | 10 | 9h |
| +27 | Which groups are ideal for laterals? | 12 | 11h |
| +24 | The good and bad with Wells Fargo | 1 | 17h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
They are doing the worst? Is it ML? Because I have a fully reimbursed superday from them coming up...
hahah think who may have that $24B writedown that was announced today.........
I think it may only apply to non-targets or semi-targets, as people at WashU and Indiana were also in the email
Oh poor Citi....
Either way, pay for it, rock the interview and get one of the few internships that will be available.
Best of luck.
Not reimbursing you for travel is ridiculous. Target or not, the interview is beneficial to the bank and shouldn't be covered on your own dime.
I agree smuguy.....but I'm not complaining, just seeing if anyone else got this.
I got an interview with a semi BB and they're covering travel expenses and a fraction of lodging expenses
that is ridiculous! I am not at a target, but even more so, I am the only person that cares if I get a summer internship so I'd have to go completely on my own dime so there would be no way for me to go. You should talk to the bank about it, because if they really want interns this summer, reimbusing travel expenses is going to affect them.
Normally, I would be the first to agree that the general cheapness that tinges firm's expense policies during downturns is excessive and short-sighted. However, I think that we are only seeing the tip of the iceberg. I think this recruiting season and pending layoffs are going to be far uglier than anyone reasonably imagines.
I certainly don't want to scare anyone, and I am very much hoping that I'm over-reacting, but my perspective on general market conditions has taken a significant pessimistic turn over the last few weeks.
I told ex-banker in a prior post that the situation felt to me more like June of '01 than the really dark days that followed. Since then, my outlook has shifted, and rather than characterizing the feel as "worrying", I would describe my revised assessment of where things are is better described as "downright frightening".
The periodic reports I'm hearing on my own firm's plans for workforce reductions get more aggressive with every update. If I were a betting man, I'd put money on the likelihood that we're ot only going to cut far deeper than most of our bankers suspect, but that the next round won't be the last. I've heard that our group heads are already being told to prepare a follow-on list of people they won't have to release in this round, but will be earmarked for scrutiny shortly after the first major round if conditions continue to deteriorate. I'm almost certain we're going to be pulling offers out from under some of our starting bankers before they report for duty.
Like I said, I hope I'm wrong. But I'm far more concerned than I was a month ago.
I have a interview coming up at a BB and they are also not paying for my travel expenses. Yes, they should probably reimburse us because the cost of doing so is very cheap, but I do see where the banks are coming from now, and it is definitely worth paying the expenses on your own to get a shot.
I wonder if summer analyst pay would be affected by this. I hope not.
I wonder if summer analyst pay would be affected by this. I hope not.
if it's Citi, they didn't reinburse for travel expenses for last year's SA Superday either
Veluch, did that apply to targets (HYPS) as well?
Yea I understand where the banks are coming from, and I suppose if they can't reimburse SA interviews, that is definitley not a good sign, as Genghis touched upon.
Reiciendis occaecati eveniet pariatur illo sunt voluptas mollitia eos. Accusamus aut pariatur molestiae quia deserunt debitis qui. Qui vel qui optio autem ad autem.
Dolorem distinctio eveniet maiores ullam dolorem eaque iusto. Harum neque velit qui ratione dolorem. Iste non veritatis ut quisquam distinctio. Omnis praesentium quasi eum dolore.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...