Deferring a year to reapply
Hi all. UK undergraduate here at a target university. I'm currently doing summer internship in active portfolio management at large AM, going into my third (and final) year in September. HR has just communicated that due to headcount, the cohort of 7 interns in my division will most probably not get a return offer.
I have an option to interrupt my studies for a year and deferring my graduation date to '28 instead of '27, which would allow me to reapply for next cycle of summer internships. Also have an opportunity to work at a tech start-up during this gap year for experience and more savings but more importantly to pay off some medical bills for grandparents and relatives.
Will HR/employers look at this gap year negatively? Or are they typically understanding with these situations? I'm happy to explain that I took a year out to earn some money for reasons above and to support family.
Thanks!
p.s: would be reapplying to similar roles to my current internship such as ER or even MO risks at banks for variety
Know a few people who have done this - honestly would recommend it. As long as you have experience / story for what you did on your gap year rather than just bumming around it it is genuinely worth it and gives you more time to think about what you want from your career.
It will make it easier to compete with the Europeans for internships as they are older = maturity / professional in the office and more efficient = sum total of experience working. If you pick a relevant startup e.g. tech then it creates more conviction for why tech M&A / growth equity for final year interviews.
Also if you are doing it to pay bills - a lot of people won't really care or look unfavorably and more often than not will not even ask you. It will be the first question at the start of the interview / screening, with an apt explanation it will be forgotten and the burden of selection will be on your interview and prep thereafter.
Happy to pm if you need advice.
Sounds great thanks, very reassuring to hear that. Would love to talk about this in more details privately if you're happy to dm!
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