Is it normal for managers to take credit for work in finance?

In finance, it's not uncommon for managers to take credit for their team's work, especially in hierarchical environments where the manager is ultimately responsible for the output. However, there are nuances to this, and your situation seems to be crossing into problematic territory. Here's what you need to know:

1. Normal Dynamics vs. Overstepping:

   • It's standard for managers to present work as their own since they oversee and are accountable for the final product. However, good managers often acknowledge their team's contributions, especially for significant insights or heavy lifting.
   • Based on previous WSO threads, interns and junior employees often face this issue, but it's not necessarily "normal" or acceptable for a manager to blatantly take credit without acknowledgment, especially for major contributions like identifying a $40k penalty issue.

2. Why It Happens:

   • Finance can be cutthroat, and some managers may feel insecure or overly focused on their own career progression. This can lead to them hoarding credit to appear indispensable.
   • As an intern, you're in a vulnerable position where your contributions might be overlooked because you're not yet seen as a long-term team member.

3. How to Handle It:

   • Document Your Work: Keep a record of your contributions, including emails, drafts, and memos. This isn't to confront your manager but to ensure you have evidence of your work if needed.
   • Subtle Self-Advocacy: Find ways to make your contributions visible without directly challenging your manager. For example, when sending work to your manager, consider CC'ing or BCC'ing a senior associate or partner if appropriate.
   • Build Relationships: As highlighted in WSO's top advice, having a good relationship with at least one full-time employee can help you get unfiltered feedback and visibility.
   • Seek Feedback: Consistently ask your manager for feedback on your work. This not only shows initiative but also subtly reminds them of your contributions.

4. Long-Term Perspective:

   • While frustrating, this experience can be a learning opportunity. If you're aiming for IB recruitment, understanding how to navigate difficult managers and advocate for yourself is a valuable skill.
   • If this behavior persists and you feel undervalued, it might be worth considering other firms or teams where your work is more likely to be recognized.

In summary, while some level of credit-taking is common, your manager's behavior seems excessive. Focus on documenting your work, subtly advocating for yourself, and building relationships to ensure your contributions are noticed. And remember, this internship is just one step in your career—don't let it discourage you from pursuing your goals.

Sources: Advice for summer Asset Management interns, Q&A: Managing Director at Large Global Asset Manager, How to Thrive on Your Research Internship, My boss just tore me a new one and I don't know what to do differently, Why do people not get return offers?