Dump intern?

OP here: forgot to add that, talked to the Associate-2 in my group and he is actually pretty disappointed and pissed as well. Our group will be deciding on offers early next week as our internship program wraps up next Friday, so I think we don't have much time here to make a decision.

Dude, it’s very clear why he is doing this - you don’t have enough spots for everybody. Do you really expect him to put all of his marbles in one basket when there is a higher chance than normal that he would be left without an offer at the end of the summer?

As someone in this position now, I’d love to return FT to my group and I’m working hard to do so, but I still have to recruit for FT given the lower return offer rates. I guarantee you this intern isn’t the only one recruiting (more likely than not every single one is), given the cut-throat group culture your group fostered.

If your group had a spot for everybody, then your line of thought would be valid, as I’m all for loyalty to people who have given you a shit, but if there’s a chance you’re gonna screw him over, he’s gonna want a security blanket just in case.

Just don’t be a dick and judge him by his abilities/attitude and try to ignore this piece of information. If he’s good at what he does you should be going out of your way to make sure he returns, not cut him off because he wasn’t “loyal” to a firm that wasn’t guaranteed to be loyal back to him.

is this intern graduating? if not it’s common to change firms each summer. if they are seems like they aren’t sure whether they will get a return offer so they’re trying to network now

Don't be a douche. If he deserves an offer give him one - and then make the case for why your bank is better than moving.

You seem like a prick lmao. I'm glad I don't work with you. Maybe if your group lived up to your fantasy of what it is, he wouldn't be trying to move upstream. 

1) you don’t have enough spots for everyone

2) you should try to hire the best people for your firm

This isn’t being someone being ungrateful. This is someone who recognizes the reality (chance they don’t get a full time offer) and wants to get a job at the best place possible.

You have the best opportunity to “make” someone grateful. If you run a solid internship, have good opportunities for the person, and they fit in well with the culture. That is much more of a “sell” than a tier of a bank (as long as we aren’t talking about GS vs local payday loan…). And as a bank you should want to hire the best people possible, up to them where they want to be. That’s life, many people won’t want to work for you, and that’s ok as long as you can look at yourself and your firm critically and make sure you are doing things “right” (giving best opportunities, paying well, having a decent culture). I’m sure you did the same thing (understand all your options) when you were looking for a job. 

Please tell us what team you are on so I’ll never apply there.

Don’t be a little bitch. 

Wow you are a massive pussy

Like everyone else said, why would you fault someone for keeping their options open when they know there’s a decent chance they don’t convert on the SA gig

Be confident enough in your own bank to convince this kid to take the return offer. I’m at a MM and have talked to interns debating our offer vs EB/BB. I have enough belief in my own bank to make this pitch- some people buy it and take our offer and some don’t, but that’s banking. If you don’t believe in your own bank enough to pitch it to an intern, you might as well try to lateral uourseld

If this isn't the definition of small dick energy idk what is. If the intern deserves the spot extend an offer, if he doesn't don't. It's a pretty simple preposition. He doesn't owe a multimillion corporation any type of loyalty and neither do you. Let alone a corporation that outright tells you that they might not bring you on even you kill it. Thinking back to my intern days, I am so damn glad I didn't come across any insecure, entitled analysts like yourself.