No return offer due to headcount - HR want to try to give another internship
Hi all,
I got back my decision that I will not get a return offer from my SA 22 today due to headcount + business needs. My division had a 0% return rate this year. But in my call with HR, they said I was very strong throughout my internship and that I did very well on my final presentation and I was asked if I was open to other business areas, to which I said yes. HR then said they would fight for me as much as they could and speak to their manager to see if I could be put to do an internship again next year and that they'll be in touch later this week on an outcome on this.
I just wanted to know if this is a good sign? I heard that in EMEA, HR tends to have significant more sway than they do in the US. If they do clearly want me again at the bank, as HR has said (maybe my manager recommended I be pooled somewhere else idk), is it a likelihood that I would get the internship?
I was told that for graduate programmes I would need to do an AC again but for internship maybe not.
Thanks
1) Get SA and then apply FT elsewhere, at least that way you have the backup
2) Ask for AC for grad programme and if you don't get the role, then the SA
Unfortunately due to very tough market conditions (Capital Markets took less than 50% of interns, 0% my specialized division), there is no headcount for graduate recruitment for what I want to do. There's Markets & Transaction Banking, but that's it.
I just wanted to known if it would be likely HR can sort out an SA offer for next summer based on everything? I don't imagine such an intervention as what they're doing now is very common at all.
Thanks for the reply anyhow, I'm definitely applying further. Really like this firm though!
Sounds good and fingers crossed on the second internship! Do you know which division you'd want to be put in or the same one again?
Anyhow, it might be a good opportunity and converting it to full-time will likely be much easier if it's a larger division. You might also be able to early start in Jan 2024 instead of Jul 2024, so would only be 6 months behind initial plan.
Thanks! If they pull through, the internship would be in a larger division (Capital Markets) than where I did my internship last time (Structured Finance). So, if I perform as well as I did this year I.e., being at the top of the group, I think I could get that return next time round.
yes it is a good sign and yes it is highly likely you'll get the internship next year. its cheaper to re-hire you than to hire a new intern, + you have 10 additional weeks of experience.
whether its fair for the bank to do this... thats questionable. they obviously know markets are slowing down and want to be cautious of how many grads they take; they seem to be playing the 'wait and see' game by deferring their decisions another year to see if markets pick up then
Thanks for the response! Fingers crossed then for good news.
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