Although this is not necessarily the case for me, curious on everyone’s insight. I knew several people in this situation.
If someone is a rising senior or even graduating form undergrad and they do not receive a return offer what is the best next step?
Another summer analyst internship? Try to find a full time analyst program and apply?
Would love to hear everyone’s thoughts or experiences.
You aren't eligible for another summer internship if you're a junior, unless you decide to push graduation back. Most people either try to find a full-time spot at a different bank, or just move into a different role if it doesn't pan out.
Appreciate the response.
Any insight on how often banks recruit FT 1st year analysts instead of hiring from SA pool?
Interned at an EB last summer and didn't get a return offer, even though halfway through was given very strong feedback and go to a pretty notable target on the West Coast. Have a few senior alumni at the firm too so was a bit shocked. My best advice for you after hearing that outcome is to first take 1-2 days for yourself. Take your mind off work, focus on family / friends. Trust me, it helped a ton with my mental health and getting me back on track. Then, try to get back into the swing of things. Reflect on your internship, is there anything you could have improved on looking back?
At the end of summer / early fall, begin networking hard. There are going to be weekends of your senior year where you sacrifice going out / seeing friends for an early Saturday AM networking call. Get it done. Later in Fall (in fact, some into the following year), FT positions will pop up. Whether that's because some students renege or a new spot is created, trust me, at least 1 door will open. Because you've networked for a few months, your name will be top of list of landing an interview.
Don't need to expand the above further, think you will have already knocked it down if you've already landed a banking internship. However, I will say the most important thing here is to stay encouraged. Yes, it's going to suck and it's going to be a grind. But it'll work out if you're willing to put in the work. Best of luck man and keep us posted.
Could you talk a little more about why you didn't get the return? Did they give you a reason?
I am still in SA, I should have clarified. This is more a what if scenario, although have gotten great feedback about return offer from my team so far.
I also have a rotation between CB and IB as apart of my CIB internship and definitely want the IB offer more than CB.
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