Getting Screwed Over
Hi All,
I'm a few days from starting my summer internship with a BB. However, I was recently informed that because a relative works for the technology department within markets at the same BB, they have given approval for me to work in the summer since it's temporary but would not approve me for a full time position. I received my offer well over 6 months ago and it was between the time I signed and now that my relative started which is why it wasn't a problem when I signed.
Essentially, I turned down two other SA offers to come to this BB for the FT prospects and now I'm being told (before my internship even begins) that as long as my relative is also working here, I have no future here. I'm at a loss of what to do now as turning down the other SA offers meant that I would not be a part of their feeder pool into FT and it would be very difficult for me to enter directly as a FT analyst without that summer background at the bank. I'm exploring all my options but I'm quite honestly very disappointed in this outcome as I had mentally prepared to impress with the hopes of a return offer rather than actively looking elsewhere.
Any tips or suggestions on what to do at this point? When I network with other banks should I tell them my situation?
Thanks
That's a really lame situation to be in, sorry that happened. I think short of lobbying for them to change their decision regarding FT, you have to really utilize your summer to A) perform and B) network. I'm prioritizing performance because you need to make your group want to go to bat for you. They'll understand the situation you're in, and if they like you and value your efforts, I can't imagine they wouldn't look to pull some strings for you with peers at other BB firms.
Short of that, you could always just kill Uncle Frank in tech to really shore up that FT offer.
during your summer, you will meet a lot of people. It seems pretty silly that a BB would have a rule of "no relatives at the firm"....but regardless....if you impress the sales/trading desks...towards the end of the summer you can explain the HR situation and ask for a referral to another bank (most people at banks know people at other banks....and also clients like asset managers and hedge funds).
Tough
work your ass off and be strategic. If you do well enough, someone on the desk will refer you over to another bank. Don't sweat it
How did they find out? Did your relative mention that you were going to be a SA?
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