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.
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.
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"
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.