Nonexistent FT Recruiting Opportunities
I’m kind of curious how people are looking at the internship landscape given the lack of full time hiring, especially this year. I personally know multiple MFPE interns and top BB interns who didn’t receive offers that still have not even sniffed an interview. With the lack of options and abysmal state of the market do people need to reassess internship priorities? Do we need to start taking another look at any of these PE internship offers that offer not great returns or investment banks that have indicated that they may start slashing headcount? I personally find it insane that there are this many people who were almost perfectly positioned for life changing opportunities in finance, that are currently looking at unemployment because their IB/PE shop took 20-50% of interns.
Yeah MFPE summer is a big risk since returns are so low. If there's any inclination that you're not getting a return you need to be networking hard July/August, no reason to not be getting interviews with top shops
Think that’s part of the issue. These teams are often lean enough and working so hard that it’s pretty easy to notice when someone’s consistently not at their desk for long periods of time. If you already aren’t sure if you're getting a return offer, it’s a daunting choice to decide to spend more time away from your desk because if they notice you solidify not getting a return. I find it’s often the interns who don’t do anything and are in huge groups who can find the time to fade away to do full time recruiting the best which is very unfortunate.
Was at a sweatshop and didn't get a return. For me, it was honestly impossible to network due to the hours during the internship.
Agreed FT recruiting is a tough process to go through. Need to set a good impression early on that allows you to get some leeway with not being at your desk all the time. Was at a sweaty group and FT recruited and spent the first half of the internship grinding for good reviews and then slowly started networking and wasn't questioned about leaving my desk.
Also helps if your team has some WFH (i.e fridays) but know many groups don't allow that
Dont understand how they arent getting interviews, would understand if the no RO is dinging them. Interned at a PC program usually viewed a step below the MFs and was able to get interviews across BB/EB/MF(non PE investing roles) without excessive networking.
I think easier for PE SAs since they are generally considered a step above banking internship. Also depending on whether you are diversity or not (not to offend you but just HR thing). How did you answer why did you not get the return offer?
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