Do I take Rothschild Summer Internship offer?
I have been given a summer internship return offer from Rothschild after doing a spring week there and am unsure of whether to accept it or not. I've heard various horror stories (mainly from the US) about reneging and it seems like the general consensus is only accept an offer if you can't see yourself changing your mind. Whilst I know I want to go into finance I'm still undecided on whether I want to go into IB or quant trading and was planning on applying for BBs and quant trading firms later this year once the main cycle opens. Would it be a bad idea to accept Rothschild knowing that if I got an offer from a top tier BB or trading firm I would probably change my mind and would it negatively impact my future?
On the flip side, given how competitive internships are, if Rothschild is a good company I'm scared of turning it down and not being accepted anywhere else next year....
Does anyone have any advice?
I would accept the offer 100%. Rothschild London is a fantastic place. If you get an offer from a different place then you can renege on Rothschild - you can come up with some excuse like health or family reasons, or not tell them anything at all. They probably won't consider you for future roles but who cares. If you are scared of this following you then just don't update LinkedIn.
Roth is an amazing shop, it has an amazing reputation regardless of what these people say. But the thing about Roth is that it is very career-banking oriented. So if you think you can see yourself going all the way then do it. Also, jobs are jobs you can always get an interview elsewhere after the internship. I interned there last summer. It was a great experience.
Echoing the comments above - take the offer. Realistically, these places are quite easy to fill if you do renege - so you won't be burning any bridges. And if you are at all interested in IB, there are only a handful of places better than Rothschild in London (probably the top/mid BBs, + Laz).
In your shoes, I would 100% accept the offer from Rothschild. It's a solid brand on your CV with a strong pedigree. You will meet talented people and gain a better understanding of the broader financial system anyway. If your goal is to eventually make an informed decision on whether to pursue an IB career versus one in quant trading, this will help you get there faster, and is very unlikely to be detrimental to your quant trading aspirations should you ultimately decide to go that route.
If you can get an offer this early you definitely have a good chance at one of GS/MS/JPM and PE/AM roles later in the year. Take the offer and keep interviewing elsewhere. If you get something better then renege on Roths. Job market is hot rn, take advantage of it
What were the US horror stories? I heard the US was more chill than the London office, which would make sense given the dealflow
I think OP was referring to horror stories about reneging.
I did renege a SA offer that I had signed a week prior while still interviewing for other places; HR really didn't care and wished me luck. Never looked back.
Oh yeah. I misread that
10000000% take Rothschild.
I did exactly this, burnt some bridges but nothing else happened.
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