Return offer pity party
Interns, quit with the pity party because you didn’t get something you thought you were entitled to.
Past return rates are irrelevant, how you personally think you did is irrelevant, the banks Q2 earnings are largely irrelevant.
Hiring is a forward looking event and never guaranteed. Stop acting like the bank did you wrong for not hiring you, they are responding to their economic forecasts and thereby forecasted headcount needs.
They did you a favor in the first place by giving you an internship, and if you didn’t get a return its probably more of a poor performance on your end than anything else. Grow a pair and don’t act so entitled.
Fuck off for your blanket statement. Some kids busted their ass and were not shown mercy with the luck of the draw.
these firms owe you nothing. Get that through your head.
Not mutually exclusive. The job market is fucked right now and as a rising senior what the fuck am I supposed to do? DO YOU THINK KIDS GRADUATING IN '09 HAD A RIGHT TO COMPLAIN? YES. THEY DID.
Right! It took me 3 years to scratch and claw my way into the industry from a non-target so I have zero sympathy for these kids. Bunch of cry babies.
Get it through your head that no girl will ever find you attractive
Before you post on this forum again, I want you to ask your mom for permission to do so.
Go fuck yourself loser you don't know shit lmao
Lmao how much of a pathetic loser do you have to be to comment this on every thread and then start your own thread for the sole purpose of being a douche
Imagine OP is your friend and you text him bummed about not getting a return and he hits you with this response lol
Bold to assume that this wannabe hardo sociopath has friends
Looool OP is the same dude who looks at a homeless man and says "jeez dude get it together"
"Al, I'm sorry, it's just that I don't have anything in common with you."
Yeah how dare college kids be upset over something. OP probably brings up starving kids in Africa if anyone around him is upset and complains about something and thinks nobody should be "allowed" to be sad cause someone out there has it worse.
Your analysis of the situation is wrong here. We all love to criticize millennials/Gen-Z for being cry babies and feeling entitled to things because it's often true, but that is not entirely applicable to this cycle's situation. There will always be that kid on here who absolutely sucked at his/her job and complains that no one gave him a chance. In past years, those kids should have been able to tell that they were in the doghouse.
However, I've never encountered an IB intern who felt he/she was entitled to a return. We all worked hard for it when we were interns, and we expected that return rates would be similar to previous years unless otherwise stated. There is no way that Jefferies hired a class 50% of whom were duds. HR shouldn't be able to just spring that kind of return rate on people without prior warning. We all know you'd be losing your shit if one day HR started tapping random people on the shoulder and laid off half of your team.
I didn’t receive a return offer and I was nothing but praised throughout the entire process. The people who I worked with told me I put in excellent work and was incredibly driven. Ultimately, my group was very impacted by the decline in the market and they had to reduce offer rates.
Now I have to try to recruit in the worst job market since ‘08. It’s going be a challenging road ahead. It is definitely justified for people to be upset about internship returns in this market.
FWIW, some banks will intentionally over-hire interns so that they have more interns to choose from when it comes decision time. For example, an IB group will hire two interns with the full intention of only hiring one (the better one). It makes sense from the perspective of the banks because they will have a larger sample size of interns who are familiar with the group and the work to choose from. You will also decrease the chances of having to go back out and look for a FT candidate that has never worked with you before.
Not saying it's right or wrong, but that's how it works at many places.
This makes sense in terms of hiring 10 or 11 interns in a group with the intention of hiring 9 full-time, since odds are that one or two of the interns aren't great or may decide to re-recruit for FT. However, for small groups where you are planning to hire 1 or 2, it's a disgusting practice to overhire and essentially screwing an intern even if he or she is good and a hard-worker.
Why don’t you guys get this? A bank has no moral/ethical obligation to hire interns. They take interns, decide future hiring needs that summer (because they can’t figure that a year in advance), then take the best that meet their headcount needs.
It’s so simple. Stop acting like an entitled moron.
You guys are all so salty. AN INTERNSHIP DOESNT MEAN YOU HAVE A JOB. I could give a shit how good you or your analysts say you are. The needs of the business trump anything and you were never guaranteed anything.
You all should’ve expected low return rates and adjusted your mentality appropriately. Get used to it. That’s life. And no, I’m not some millennial who didn’t experience this hardship, I’m a gen z who currently went through what you all are.
Seriously though get over yourselves. You’re a number on a spreadsheet to them, and realistically, they should be nothing but a number on a spreadsheet to you.
You all work in finance, you all should get this fact more than anyone.
Please Speak With Your Parents Before Posting Next Time.
Mom said yeah, thanks for checking
Bruv, if you did the traditional 2 analyst years -> PE, you're probably not a Gen Z-er or maybe the first year of Gen Z which is really just a young Millenial as these things have no strict date guidelines
Imagine taking time out of your day to make a post ripping on kids who essentially just lost their first FT job
They never had a job
Why are you so passionate about this lmao
Imagine taking time out of your day to make a post about not getting a job you weren't entitled to in the first place.
OP- an intern who worked hard throughout their internship has the right to be bummed to not get an offer, relax.
That being said, OP raises some good points. These banks don’t owe you anything and not getting a return isn’t the end of the world. Plenty of people on the street took a roundabout way to get there and many very successful people in top roles now fought their way through the financial crisis. Don’t let it define you, you’ll come out stronger on the other side if you don’t
I agree. OP is a bit harsh and people have a right to express their emotions, but honestly, the interns deriding the underlying message are so obviously missing an incredibly important point.
For those complaining and shitting on OP, ask yourself, who does a firm have responsibility to? You (the intern)? Or the firm's shareholders? I get that a lot of students going into the industry lack any sound intellectual or philosophical foundation to their outlook on this world. Everyone here seems to think that success is the direct outcome of hard work and that hard workers are entitled to success. From a superficial look, it seems that everyone here claims to be a "capitalist" or at least laughs at anything resembling socialism.
And the greatest irony is when they come around complaining about the firm not "giving" them a return offer. That's the exact system you bought into. Go read about what Friedman thought about the responsibility of business. To the interns monkey shitting OP, if you actually believe in capitalism as many of you claim to believe, the firm is absolutely entitled to do whatever it sees fit with you. It's fine to be emotional, but this has been a gripe with me ever since threads in March/April wistfully hoping that every bank "guarantee" return offers. Just ironic.
I don't think students are entitled to offers, but I think its a reasonable response to be upset to work towards something and have it not work out. OP is conflating emotion with entitlement. Its a post attempting to appeal to logic with no emotional awareness.
Op Is Gay
Nice.
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