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At the end of the day, banks are not in the business of not giving return offers to their best performers. If you are saying you were killing it at the work product, the culture fit (2 months is plenty btw) and communication issues must have been severe. I would not brush things off as much as you are - this sounds like a real disconnect between how you think it went and how it actually went. I would spend some more time reflecting on the feedback they gave you and what you can do better in the next role.

But to be honest, no it's not likely to recruit to a better firm. No return offer is an immediate red flag, especially if you are being a bit immature about the reasons or "I was the best, idk what happened!". Come up with a succinct single line about why it didn't work out (it should be things you did that you're aware are improvement items, not just blaming the firm and tossing your hands in the air) and what you are taking away from that. Most people who don't get return offers take strong downgrades on firm level, and are lucky if they manage to stay in banking. 

 

I’ve seen colleagues not get return offers, blame the decision as political move onto the next job just to get fired. This individual thankfully is now in a much much better spot but it took a lot of reflection. This is what you need to do. Reflect on why you didn’t move forward, there seems to be a disconnect as to what you think went down vs what they think happened. If I were you, I’d talk to someone there and find out why so you can do better. If you’re good enough to get the job it means you can likely get another one but it’s about staying there and not getting canned.

 

The only way not to get a return offer at m BB is if you are a total loser or screw up, so you need to really reflect on wtf happened.

As to your future interviews, it likely will worry people as to why you didn’t get a return offer, because most times it should be a slam dunk return.

So when asked, I would like and say that they only kept a few kids or there were headcount issues or the group was contracting and no offers were given. Try to shift the blame to the firm and factors outside of your control, otherwise it’s a black mark on your candidacy.

 

You should only say those things about the firm if they are true - your interviewees could have friends at your old group who can confirm. IB is such a small world, that's wildly easy to verify.

I've gotten at least a dozen calls from friends around the street on prior interns asking if I can verify stuff like that. Not great when you then find out the kid is the only one who didn't get a return offer AND they hired a new FT for their spot. 

Don't lie.

 

These people are retarded - there are PLENTY of people who re-recruit without return offers. I know people who’ve interned at HSBC, Jefferies, Santander, Citi, DB, JP, Roths who didn’t get return offers but managed to get into GS/MS. Have a good story put together in case the question pops up - but from what I’ve seen the question really comes up for buyside analyst/internship positions, or from recruiters like Dartmouth who are problematic in more significant ways.

 

These people are retarded - there are PLENTY of people who re-recruit without return offers. I know people who’ve interned at HSBC, Jefferies, Santander, Citi, DB, JP, Roths who didn’t get return offers but managed to get into GS/MS. Have a good story put together in case the question pops up - but from what I’ve seen the question really comes up for buyside analyst/internship positions, or from recruiters like Dartmouth who are problematic in more significant ways.

Yeah these folks are definitely retarded. They don't have enough experience seeing things yet they give a concrete answer like it's black and white. +SB.

 

Contrary to what others say I think it's very possible to 'recruit up' or 'upgrade' even without a return offer. In interviews just show to a maximum that you understand a process, what you learned from your live deals/projects etc. Not the end of the world. Sure it may be more difficult without a return but it is definitely possible and most recruiters should understand about minimal headcount etc. The only thing stopping you from upgrading is likely the mindset ; even if you go to a 'lesser firm' (imo breaking into IB is much more prestigious then what firm you're at but it depends what your long term career goals are like working at Blackstone, Citadel etc). Worst comes worst the best you can do is get an offer elsewhere which you seem capable to do and then do 1-2 years, close some deals and then try lateral.

 

Funnily enough citadel is still attainable from a worse bank 

 

Don’t have a mindset like OP which essentially is “brooooo I killed it but the guy doing my reviews didn’t like me and that’s the only reason why I got fucked out of return!! Bro there’s no other reason as to why trust me bro”

That’s the most important part in all this. Have some self-awareness and get real feedback as to what went wrong

 

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