Returning to former employer (bank) as an analyst?
I did a summer internship at a BB and then got a FT return offer. I went back to the BB full time but stayed for less than 1 year due to personal circumstances and location consideration, not because of a lack of interest in the job. After that, I moved to a new role at a different company closer to home to attend to those needs.
I saw an opening last week at the BB for the division that I was in but just in a different office, so I applied. I also informed my former manager at the BB of my interest in returning and they mentioned that they flagged my name for the team to look out for.
It's been about approx. 1 week since I applied to the BB and have not received any updates regarding interview, etc. Does that basically mean that I'm likely to be rejected? Or do I have a solid shot at returning to the BB?
Would appreciate your guys' thoughts on this. Thanks!
Based on the most helpful WSO content, it's not uncommon for the hiring process at a BB (Bulge Bracket bank) to take some time, and one week is a relatively short period to expect a response, especially in the finance industry where processes can be quite structured and sometimes slow-moving. Here are a few points to consider:
Given that you have a return offer history and left on good terms for personal reasons, you likely have a solid shot at returning to the BB. Patience is key in this scenario, and maintaining a positive relationship with your former manager and any other contacts within the firm can only help your case.
Here is a question that you might be interested in and I can help you with: What are some effective strategies for following up on a job application in the investment banking industry?
Sources: https://www.wallstreetoasis.com/forum/investment-banking/m7-ib-associate-full-time-recruiting?customgpt=1, How the hell are return offer candidates going to be assessed this summer?, If I go to a tiny place post-MBA (after being at a BB), can I recover?, Non-target average student declined BB trading ops offer, now having some second thoughts, Q&A: No return offer to FT BB Offer
Your prior manager said what they said for one of two reasons:
1. They want to put your hat in the ring and want to go to bat for you in order to set the conditions for your potential return.
2. They want to remove you from candidacy because they see you as unreliable and either you won’t get an interview at all and if you ask them, they’ll say it got lost in the shuffle, or you’ll get a courtesy interview with someone low-level and they’ll scuttle it after that to give you the impression that they gave you a shot at minimal cost to them.
On balance, I view it as more likely than not that the position is not yours. I would wait a bit, follow up on the position as needed, and take it from there. In the interim, push as hard as you can on other avenues as though you had no position, because it’s likely you don’t.
Why would OP wait a few weeks to follow up on a position
I think two weeks from time of last connecting is fine. If it's just been a week, it's a bit early in my view, particularly considering the prior relationship. Following up too soon betrays a lack of trust. People's personalities differ.
I would just follow up in the upcoming week to be efficient. You have to have grit and persistence during recruiting, and agree with guy above that you should explore other avenues in the meantime. Don’t just sit around waiting like a sheep though, take time to prep and get your technical stuff down for future interviews that you may have so you’d be more prepared and confident about your answers
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