I hope my bank doesn't extend guaranteed FT offers to the SAs
Might sound selfish but I hope my bank doesn't extend offers to all the SAs as a result of Covid-19. I had to grind hard all summer last year with the offer being dangled over my head, It was stressful and I don't see why the class after me should have it so much easier.
As LeBron James said, "nothing is given, everything is earned, you work for what you have." Anyway, saltiness over.
I agree, I had to work hard to get my offer. At the end of the day its a disservice to the student's who 1) don't know what they're getting themselves into because all they did was go through recruiting and have no idea what the job is like in real life and 2) when these new FTs realize they can't handle the job because they were unqualified (some of them)- they will have wasted their time and the time of those around them who have to suffer as they can't put together a basic model
What is the better option here. think carefully about what constitutes more fairness. And to be clear, the firm you’re working for doesn’t care about your ego.
I get what you're saying but its not fair to compare yourself to the next class. Class of 2021 has an unprecedented fucking pandemic. The next class of interns don't even get to come to the office and meet the people they're working with. They don't get the same training or learning experience and for some that's very important because they're actually interested in working in banking. This isn't even just you being selfish, its you being an ass.
This is like me saying I hope you get laid off in 5 months because I had to work harder because they reduced the incoming SA class size the next summer. Sure I guess that makes sense but fuck you.
I get what you're saying but that's also a very short signed opinion. Yes the FT 2021 class will be less strong than previous classes due to not having the proper training of being in an actual internship and there will be people that may have found out that they do not wish to pursue IB anymore, however what suggestion do you have to properly choose the class. Build a DCF in under an hour to see who's "competent"? It's completely unfair for everyone and doing this levels the playing field.
There are many ways, and btw only Citi and Moelis have given FT offers, Im sure others will follow, but its not like this is JP Morgan here or Goldman Sachs. I doubt that those top BBs will give FT to everyone- its possible, but very unlikely in my opinion simply because I know that FT conversion rates are historically 60-80%, so it just doesnt seem feasible.
As to how to distinguish- you can still assign work online, or in person when things reopen in June (so the interns can definitely come in July). You can create mini pitches for deals for coverage, you can create models and scenarios for LBO in Lev Fin, you can make decks in DCM based off of current market climate, you can do merger models in M&A. Most of this work is not about who gets it 100% correct, but how much effort was put in through reaching out to analysts etc.
"I hope they don't cure cancer in the future, I had to work so hard and go through chemo and everything and it isn't fair if the next generation can just take a pill and not have to work for their recovery"
What a shitty comparison. Are you saying that you hope all future classes will get offers without having to earn it during the internship?
he’s saying that if people get a good thing to in lieu of a bad thing it’s absolutely idiotic to be mad that they get the good thing because you had to deal with the bad thing without their good thing.
especially since no one has any control over this whole development.
FUCK op. sounds like a total hardo who thinks he or she deserves everything he or she has gotten, without realizing how much luck goes into this whole process.
What a remarkably self-centered view of the world. God forbid people have a better experience than you had.
The LeBron quote is the chef's kiss to how warped your mindset is.
I'm torn on this; I feel bad for analysts who have just been / will be laid off who won't have the ability to apply for these positions. But at the same time, if I was the one getting the FT offer i'd be thrilled and everyone can use a lucky break now and again..
You don’t see why? There’s a flipping pandemic going on
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