Bank reaches out about lateraling before internship even starts
I recently had a bank that I interviewed with for SA 21 but couldn't make the timeline work reach out about lateraling even though I haven't even started my internship yet. It was a firm that I was really interested in and has better exit ops for PE than the firm I'm working for this summer, but the firm I'm in for the summer has a great culture and I've already made some good connections. Has that ever happened to anyone before? What did the lateral timeline look like for you?
What do you mean by "lateraling" and "couldn't make the timeline work?" If you are "lateraling" before you even start, that is called reneging. If that bank is talking about taking you FT after your summer at the worse firm, that is a different story. Reneging isn't the end of the world, but could use some more info.
Sorry I should've given more details. Basically I had an exploding offer for the place I'm working for this summer and I didn't get an interview with the other place until four days before my offer ended so they said they would keep me in their network for full time but told me to take the other offer because they couldn't fit me into their timeline. They just reached out again a few weeks ago to talk about lateraling to them for full time after graduation.
If they want you FT after graduation (which is kinda strange to be talking about now), you just say "yes." Then you work hard to get an offer from the firm you're actually interning with over the summer. At the end of the summer you call up that 'better' firm and tell them it's time for them to make you an offer in writing. Then you will see whether you have options or not.
That's dope congrats! I thought banks only think about FT after looking at who accepted their return offer from the internship.. Would you mind sharing more details about this?
In 99.9% of the cases this is true.
OP, "reach out" doesn't mean a written offer until you have one. Perhaps they are expanding and getting another slot on the team, and reaching out to a bunch of people they had on their 1st round interview list? I wouldn't act like it's in the bag quite yet, and would still treat the summer as if getting the offer from your current firm is the most important thing.
Thank you. A lot of bankers are open to discussing FT with me but told me to follow up in mid-summer instead, as that's when they have a clearer picture of how many spots are available. Do you have any advice for this process?
Lot of different approaches. I think you can touch base when your internship starts and mention that you've just started on the job and looking forward to connecting midway through the internship regarding FT opportunities. Then when you/they reach out at the midway point, make sure you can talk through your responsibilities and what you've learned during your time so far.
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