No return offer?

What happens to junior year interns who don't receive FT offers?Are they basically screwed and can't break into IB anymore?I'm wondering because I have I already have a soph and junior year IB internships secured, but junior year still isn't binding.I'm considering accepting a GS junior year IB SA stint but, being the person that I am, I'm anxious that I might not get a return offer for whatever reason.What does one do next?!

 

I have a junior year already secured, have a verbal offer and written guarantee, but it just isn't binding yet. Actual offer letter won't be sent out and I won't have to sign it until late April/May

 

Let me explain a little more.

When I signed my sophomore offer, it said that we have a guaranteed junior year internship with the firm too ( BB in NYC), just that the offer letter won’t be sent out until April so right around the time before I start my sophomore IB SA gig.

The junior year SA stint is guaranteed, we just haven’t received a formal offer letter as it will come later in the year

 

Ohh okay thanks for clarifying. Apologies, I thought you were currently a junior.

Okay that makes more sense. For the record, I know the bank you are referring to and know that sophomores do in fact receive their offers at the beginning of the internship like you mention.

At this point though it's up to you. There's a lot of factors as to what to do. Whether you want to accept another offer, keep recruiting for junior summer, and how comfortable you feel with the idea of reneging, etc

 

This is my thought process:

If I stay with the bank I’m already with I’m basically almost guaranteed to get a FT offer because I would have done 2 SA stints with them.

On the other hand, if I were to go to GS for my junior year (got accelerated interviews coming up for their IB NYC team), I would have a higher chance of not receiving a FT offer for whatever reason (I screw up, or they don’t like me, or something happens idk I think too much sometimes and come up with crazy scenarios in my head)

I’d be making a big jump from a Second tier BB Citi/Barclays/DB/CS to #1 GS. It’s a big leap and would definitely be better for me in the long run.

I just don’t want to risk flunking out as an SA and not receiving a FT offer.

I have no doubts on my ability I just, as I mentioned before get a little anxious sometimes haha

 
Most Helpful

First off I will say that considering the bank you going to, being at a good/top group there would mean that the difference is not as big as you may think.

However — and I mean this in the least rude way possible — if that’s what you want then you have to back yourself because no one else will. It can be nerve racking but you have to be confident in your abilities.

And most importantly, get the offer first and then decide between them. Not to be rude but no point comparing offers right now if you don’t have them in hand

 

Not the end of the world. I didn't get return in two of my junior internships (I delayed my graduation so I did two), but I ended up at a BB. It was a grind, both mentally and physically, but once you push through and look back it's doable. It’s common to feel insecure but you just need to relax and have confidence in yourself. The stars will align.

 

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