Leaving a full time job for a summer internship
I took a offer for a banking internship that will last 10 weeks at bank A. However, I work for bank B. Now, I currently work in the retail banking / wealth management business line for Bank B, so I'm my licenses are registered with them. I work in a different line of business that have different client base in Bank A doing something totally different. My question is can I take a unpaid leave of absence from Bank B for two months and work for Bank A without Bank B's knowledge? Or, should I just quit Bank B and go to Bank A.
There may be deeper (legal) conflict of interest issues, depending on the bank(s). I was going to say that perhaps NMLS registration at Bank A would raise a red flag, but I'm not sure if interns would be run through any sort of licensing system. What's your end goal though? Are you looking to get a FT offer at Bank A, with Bank B as a fall back just in case?
I was in a similar situation a few years ago. I worked in retail at a 7-day bank, and grew tired of the politics. I stayed just long enough to complete an Associate's program. My separation came when I transferred to a 4-year school and scored an internship at a payroll company. I was prepared to work both jobs, but my manager made the specious claim that there was a "conflict of interest." I happily handed in my two weeks at the bank, and secured a FT offer at the payroll firm following my internship.
Hope you make the right decision.
I have NMLS registration and investment licensing registration held under Bank A. My end goal is to get out of retail banking and do something in investment banking. Bank B offered me a internship that will most likely turn into a full time offer after college in middle market banking. I'm not afraid of getting fired from Bank A, but how will bank B perceive this? And, given that I'm still a 21 year old student in school, how serious is the consequence on my future career?
It would be incredibly unethical to take leave and work for Bank A as an intern without Bank B's knowledge. This is dubious and a breach of trust to both parties involved, and I'm sure Bank B has no problem canning a summer analyst that potentially raises red flags in compliance. Did Bank A even know that you are currently employed full time with Bank B when they offered you a position in the internship? Currently, it sounds like you have overlapped your commitments to both firms, which is already a breach of trust. If you truly want to go into banking, commit to it, give your two weeks to Bank B, and take the internship. Unfortunately, this may come at the expense of having a security net to fall back on - c'est la vie.
Bank B knows I'm working full time when they offer me the position. However, I think I will have to leave Bank A job before the internship start, even tho they will hate me forever. However, it's a compliance risk to either bank.
What did you end up doing?
I am in a similar predicament now, I am a Business Analyst currently but thinking of doing a Trade related Internship at a Large Investment Bank. But not sure if its worth it...
Renege a FT MM offer for a SA BB offer? (Originally Posted: 09/29/2017)
I interned this summer in IBD with an average MM bank in a regional office (not-NYC), and received and signed a return offer to start there full-time.
However, one of my buddies at a top BB bank in NYC recommended that I do SA recruiting again, and he said that he'd help push me through the recruitment process at his bank. I just finished going through the process there, and I ended up fortunate enough to receive an IBD SA offer at his BB bank for NYC.
Do you think it'd be worth it to renege on my FT offer at the MM bank in a regional office, and instead delay my graduation by a semester for the SA offer at the top BB bank in NYC, especially if I want to do PE or HF in NYC post-banking? I know this is a very risky and somewhat odd proposition reneging on a FT offer for an internship, but from what I've seen the exit opps for analysts at the MM bank are pretty poor and the top BB bank obviously places analysts very well for buyside positions.
Can't you just say that you're planning on graduating a semester later, so you want to pursue another internship instead?
Seems like you've already made up your mind on the BB anyways.
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