Should I take the offer at the end of my internship at…..
Hi all, first post on this platform.
I am set to complete my summer internship at HSBC next year in their London Commercial Banking division (CMB at HSBC is MM Clients) .
I’ve had a long time mentor in this space and given what he’s fed back to me, he thinks it’s likely I’ll get a conditional offer for a rotational grad program off the back of it as long as I perform well.
Yet, truly I’m much more interested in IB Capital Markets and S&T but haven’t had any exposure to this space.
I am attending a UK non/semi Target and haven’t been successful in apps for that division this year.
My question is, would you take the offer or go for gold and apply for the capital markets.
Also I think locking myself in HSBC even for CMB could be some lost potential, they are withdrawing from the states (somewhere were commercial banking comp is much more attractive) and CMB divisions at JP, Barclays and Citi seem much more specialised and interesting. HSBC is also notorious for below average comp according to Glassdoor.
Id be more than happy to provide some of my circumstances or experiences.
(I’m fully aware It may seem like I’m making this decision prematurely, but really I’m just interested to see peoples take on this scenario)
What's stopping you from taking the offer and subsequently still applying to IB/S&T?
True. I guess there’d be a dozen other candidates who could be put in that role, so it probably wouldn’t be that severe if I just bailed on them. I don’t know if there’s a point at which the offer would expire or how serious it’d be if I accepted then bailed.
Reneges are fairly common, just not talked about a lot. Personally know of quite a few instances that faced no real penalties.
Others can feel free to share their view, but I think it's normal.
Do you have any IB or S&T experience? I think trying to go from HSBC commercial bank to competitive divisions at mid/top BB will be extremely difficult for FT unless you have prior internships in those areas. It's quite hard to land something like that FT when you interned in a completely different area - your competition will have return offers from those divisions at MM type banks and are looking to upgrade.
Might be easier to lateral after 1 year, once those roles start needing bodies
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