No return offer SA23.
Pretty bummed because I worked my butt off this summer and got great feedback from everyone I worked with. My bank is near the top rankings for the group I was in so it was very picky in offers and I was told by multiple analysts on the team that the higher ups hired more interns than they wanted to hire so they could maintain selectivity. It sucks bc I feel like I threw away my summer working there when I could’ve gone to other SA positions (turned down a couple superdays for lower-tier roles after accepting that position simply because it was front office and highly paid and top in what it did). I worked 70-80hr weeks that entire summer and it sucks seeing everyone in the chill ib coverage groups and middle office groups from the bank who got 40-50hour weeks and 0-1 or 2 live deals posting their returns on LinkedIn when I produced key deliverables for like 8 live deals and was always working and many of the senior managers vouched for me. Only problem was that the manager in charge of us summer analysts didn’t particularly like me bc they didn’t find me interesting and we had no chance to develop rapport bc they were not in office very often, so they based decisions on work we produced early in the role and mine had some technical errors vs a few other SAs with prior experience in ib. Therefore they snagged the couple of spots that they were offering for FT positions. (They were very smart and hardworking too and did deserve it, but I think the whole group of us SAs did because we all worked hard and long hours and produced quality deliverables on tight timelines). It’s so frustrating because my group was so specialized in the product that I can’t apply it to a general ib coverage or corporate finance role, and the technical questions they will ask for those FT roles is completely different than anything I learned and trained for this summer. The modeling and technical analysis is very different from those positions. I am trying to learn 3-statement financial analysis and learn some technical questions, but I was really banking (pun not intended haha) on a return offer to avoid the FT recruiting process. I have no idea how to even analyze a deal or do a case study—and I can’t find a clear answer anywhere on how to do so.
I’ve been applying and submitted some hirevues but no luck yet-and very nervous about answering the “why no return offer” question when the answer is honestly that my colleagues gave great feedback, the senior management of the group all told me I was the right fit and they were looking forward to working with me next year, and then…the one manager who exclusively makes the hiring decisions decides to cut me. I feel so sad and bummed about this. If anyone could plz give advice or PM me I would really appreciate it.
Literally the same. I know exactly how you feel. I tried so hard but still no return. Really don’t know what to do now
I’m sorry but who is getting a return offer working 40 hours a week in IB?? That’s leaving at 5pm
Yep- those coverage groups do not have much deal flow bc that’s not the sector my bank was top ranked in, so they had easy hours and would clear out at 5-6pm every day.
Dude, I know it seems like a huge deal right now, and it's definitely a bummer... but in long run, it'll just be a speed bump if you work hard and don't give up. Just study technicals, network like hell and don't speak unkindly about your former place -- essentially, tell them what you told us: that other kids deserved return offers, but you genuinely feel you did too, but bc they overhired and you didn't connect with one guy on personal level, you feel like you were odd man out. Don't let this experience put out your fire, let it fuel your fire... you might not even get the job you want as your first job, but that doesn't mean you won't eventually get the job you want. Like I said, keep networking, learn technicals and learn from your mistakes. You sound like a hard-working kid who's got a good head on his shoulders... keep it up, don't give up, and you'll be better than fine. Don't let this one experience, or this one person, define your career. Go work hard and grab it back.
Agree. Definitely let it fuel the fire. I'm sure there's much better examples out there but from my experience after I didn't get a return offer, I started working a lot harder than my friends who got returns, and I still do now because of the anger it fuelled inside me. Ultimately it's likely a positive given how the extra work will compound over time.
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