How do return offers after the internship is over work?
Do they call or email everyone that gets an offer and ghost everyone who doesn’t? Even if they did call the people that don’t get one how does the conversation even go after all of that suspense from waiting 1-2 weeks.
When banks say 1-2 weeks do they usually wait until the last day of that period to hand out offers? Do banks try to hand out offers quicker to those that they want to secure ASAP?
Also what exactly do banks need this much time for to determine who gets the offer/what goes into this? Besides the quality of the interns, are banks more focused on figuring out if it’ll be financially feasible or if desks will be able to accommodate FT analysts for an entire two years?
B
GS tells you if you're getting a return during your end of summer review. not sure of other BBs.
That's confirmed for this year? I heard on another thread that one of gs/ms/jpm hr said instead of telling during the review they're waiting 1-2 weeks. Same with DB
not sure of this year. that's how it's been done the past few years.
I know a firm waiting until labor day for official returns. Ridiculous, but I know some interns who have already been told unofficial feedback
Not accurate this year. Offers are coming 1-2 weeks post-internship
Where? Which banks.
Historically offers have gone out at end of the internship always. I think this summer it’s a mix of shortened program, so if it would take a week to figure out returns typically and they would just do it after week 9, they now want to wait until after the program is over because they’re so short they want to make sure they’re judging you on the whole program.
I think a lot of it is also trying to figure out headcount needs a year from now, which is obviously hard to predict.
Finally, I think in past years there was pressure on banks to give offers quick so people didn’t recruit elsewhere, but now banks know there isn’t much recruiting going on so they don’t feel as much pressure to lock kids in.
Hypothetically what would happen if a banks head count prediction was off but just slightly. Like for example they think they would need 20 interns for next year. Take 20 but then only find that they need 17 come their start date in 2021. Do 3 get cut or do they just stay on and have the work of 17 get spread across 20 people?
Also yeah the whole waiting because theres no need to lock kids in thing is unfortunate. Imagine waiting 1-2 weeks to get told no. Do banks (like people you connected with such as analysts or your mentors) stay in contact with interns after the internship is over to kind of let you know if you're going to get an offer?
MM bank - we hear back the week after the internship is over.
Is this a top MM like Baird/HL/HW or a smaller regional player?
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