Firm doesn't give FT offers, how do I explain this?

I'm working at a small AM fund this summer that typically doesn't hire people out of undergrad, they hire on a need basis from investment banks and other random shops. I got my SA through a connection and my boss just happened to need people but said at the start of the internship there wasn't a position for me. How can I talk about this interviews? Should I just say something like "Going in I knew there wasn't an offer here for me, but I still wanted to get the experience" etc etc ?

 

Yeah, that sounds fine. People are aware that many smaller firms hire on an ad-hoc basis, so just explain that you knew going in that they weren't hiring, but that you wanted to learn and gain experience, and talk about how that experience makes you well-suited for whatever you're interviewing for.

 
Best Response
notaspammer:
In the same situation with my internship. Just planning on saying that I was the only intern, my firm doesn't convert interns to FT and I'd be happy to put them in touch with someone there to confirm this.

Don't even say that last bit, sounds defensive. Everyone will understand that plenty of smaller shops don't give return offers. No one is going to think that it's weird that you didn't return full time to your AM shop, particularly if you are interviewing outside of AM.

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