One Year post-graduation. What should I do?

Hi all,

Would really appreciate some honest advice here as I’m in a pretty frustrating / uncertain position.

I recently graduated from a top Russell Group university and had an investment banking internship in my final year which I didn’t convert at a bulge bracket. As well as this I have done other internships at accountancy firms and boutique banks before. Recently I went through a full recruitment process (multiple rounds) for a graduate IB role at a mid-market firm and made it to final rounds.

Outcome:

- Rejected for the graduate role
- Offered an extended summer internship instead (non-standard, not part of their usual pipeline)
- No guarantee of conversion, and wording is very much “depends on business needs”

Context:

- I’ve also been getting interviews at other firms (mix of BB/MM) which haven’t converted
- Feedback I received has been mixed sometimes it seems my technicals were not good enough, but more recently it has been along the lines of being “very polished” / potential “flight risk”
- Internship pay is relatively low and requires relocating for a short period, which adds real cost / friction
- Timeline-wise, I’m now ~1 year out of graduating with no full-time offer locked in

My concerns:

1. Is this internship actually a viable path to a full-time role, or just a way for the firm to keep optionality without commitment?
2. Am I better off continuing to recruit aggressively instead of relying on this?
3. Does taking something like this strengthen or weaken my profile in the market?
4. How would you position this situation when speaking to other firms?
5. At what point does being “out of cycle” become a real issue?

I’m struggling with whether this is a smart strategic move or just delaying the inevitable.

Would appreciate blunt / realistic views from anyone who’s seen similar situations or been through this.

Thanks