No Return Offer
I did not receive a return offer for my summer internship despite, a positive mid year review and positive feedback on deliverables throughout the summer. There was really no indication that I would not receive a return offer, and then when I did not the only feedback I received is that there was an issue with the headcount. I am assuming there is something they didn't like about me, but I can't figure out what it is. Anyway the point of this post is to try and figure out how to proceed from here in terms of full time recruiting. I am of course disappointed right now, but any advice would be much appreciated.
Ignore title, am an Associate
Reach back out to the juniors you connected well with and ask them for more feedback, help, and more importantly if they can connect you with people. Our group had the same problem where we sadly didn't have a headcount to give returns to people that we wanted to, and a few of us juniors are helping out those who we liked but didn't get returns (also useful for referrals btw). Take a deep breath, it'll be okay. Just going to have to grind out recruiting and networking for a bit.
Also, it is very possible that they simply didn't have a headcount for everyone they thought deserved a return, wouldn't look too into it if they were explicitly given positive feedback throughout and were also told the reason was headcount. Just out of curiosity, what type of firm and how competitive were group return rates? I am at a BB that was super competitive for returns last year (you can prob guess where), and we definitely helped out some of the kids with no returns last year (and are this year too).
Thank you for the advice. I was at a European firm that largely focuses on middle market deals in the US. My group had 5 interns and 1 received a return offer.
This will be a helpful datapoint in your future interviews. You had good reviews, but they can't win enough business in the current market to keep you on. As the guy above mentioned, try and build a helpful relationship with a few of the people you worked with. You're gonna want one as a reference to back up that you were good and that it was a headcount issue. Sucks the situation you're in, but this is 100% something you can bounce back from.
How do you spin the situation with firms you reach out too?
Unfortunately, sometimes it is about headcount. Assuming the mid-summer and intermittent feedback you received was accurate, they may have preferred another intern over you but not because there were clear cut negatives. It is the tough nature of the industry where you can do everything right but it just doesn’t work out. If you did have positive reviews, hopefully some good references came from your summer and you can land a full time role elsewhere. Best of luck
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