Current SA's: How Y'all Feeling About Return Offers?
How are you guys feeling about your chances of a return offer? I keep getting more and more nervous as we are getting close to the end of the internship. Non target non diversity at a BB in a coverage group that isn't too recession proof.
All the other summer analysts in my group are either gay guys or girls, so I'm worried I'll be the first one to be scrapped if necessary. Only one other intern in my group is a non diversity guy, but he does go to a target.
My mid point review was mostly positive feedback with my manager saying they've seen a significant amount of progress, but I still have my doubts. Been trying to reach out to alumni at other banks just in case shit hits the fan, but all of them are going cold all of a sudden.
My initial thought about this recession and slow down was that underperforming VP's and directors would be cut and that return offer rates would still remain high. However, I'm wondering if maybe banks think they overhired at the lower levels these past couple years and will go pretty low on return offers this year.
This shit feels like when an NBA player is on a team option. It's honestly kind of worrying that after grinding to get this internship, I might have to get back to it again if things turn out bad.
What are your guys thoughts so far on the internship and return offers? Are you nervous that you might not get one? Or have you been given pretty blatant indications that you're set? Any ideas on head counts or offer rates for this summer?
So not sure why you got MS for this, but here’s my take (which will get MS too but it’s historically been the truth).
When shit hits the fan the FIRST thing out the door is all the ESG and diversity stuff. In a recession, banks can’t afford to pay two analysts to do the work that one other analyst can do (exaggerated the ratio but you get my point). Sure, if you’re at the middle of the pack, you might get canned bc someone else checks a virtue signal box, but if you’re killing that shit like you’re Ted Bundy, then you have nothing to worry about.
Tl; dr: Top bucket will get returns no matter what. When you dip into middle, that’s when you get canned as a nondiversity. Unfair? Sure, but that’s everything in life.
Why are you highlighting the “gay guys, and girls” and not the kids who may have got in because of nepotism. They are the real “spot stealers” or threats to a fair process.
Lol no one in my group is a nepotism hire, so I can't say anything about it. But for the record, I hate nepotism too and that is also an issue. Is that why I am getting MS? Because I mentioned that my group is mostly gay guys and girls? I didn't attack them in any way lol or say they stole spots or anything like that. I just said if it comes down to a tiebreaker, I'll easily lose to them every time.
Hope you aren't in my group.
No, but we wouldn't extend one to an intern with your mentality.