Quit An Internship Without Ruining Future Prospects

Guys, I need some help here. I am currently doing a off-cycle internship in the Back Office of a foreign bank. I really don't like the culture of the place and I hate the work that they make me do.

I started in the middle of February and I want to quit in the middle of April. (That is if they don't fire me before that!). However, I don't want to burn any bridges and don't want something negative popping up on my background check later. So how do I go about quitting this internship without harming my future prospects? What should I tell them on why I am leaving so shortly?

That, and I have another concern. Can I still list this internship on my Resume like this:

XYZ Bank NYC, USA
BO Intern February 2012 -- April 2012

Is this too short of an internship to list on my Resume? What should I say if I get asked about why I left after just 2 months?

Thanks.

Should I Quit My Internship?

It is important to note that while our users believe that it will likely be fine - this can have a negative impact on you in the future if you try and apply to positions within your managers' sphere of influence. You manager can reasonably call your school career services office or tell other alumni from your school about the experience which can lead them to avoiding your resume based on the recommendation of fellow alumni. It all depends on the terms in which you leave your position on.

aerospaceeric - Investment Banking Associate:
I left an internship at a bulge bracket before after 1.5 months (this was a semester long internship). My boss called my school and threatened to blacklist me from the BB (he actually called my school). But ultimately, I left it on my resume and I had no problems afterwards...In addition, I received a SA Front Office Role from the same BB. You will burn some bridges regardless.

Another point is that you should consider that your boss at an internship may be an important recommendation / reference for other jobs / internships in the future.

Kassad - Sales and Trading Analyst:
On that same note, consider the other reason for working: direct references/mentoring - basically, enhancing your network. If you're positive that your boss worked in investment banking and can refer you elsewhere after, perhaps you should stay.

If you have decided to leave your internship - the respectful thing to do is to speak with your manager and give them notice. You should not send an email and simply not show up.

How to Quit An Internship Early

Once you've decided to leave - it is important to be truthful. Wall Street is known as a very small place and lying can come back to bite you if where you end up is different from where you are interning now.

You should have a conversation with them about why you no longer believe that the position aligns with your career interests and explain what you will be pursuing instead.

How to Show Internship on Resume

User @aerospaceeric" offered the sample:

aerospaceeric - Investment Banking Associate:

On your resume: (you can do this if you want)
XYZ Bank NYC, USA
"Division" Intern Spring 2012

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Tell them you have to return some videotapes - always works. #ThingsPaulAllenWouldntSay.

[quote]The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.[/quote]
 

I left an internship for a family emergency once. I still burned some bridges, but it's just about minimizing the effect.

Doesn't really help you if you don't have a family emergency though, as I would not tell them this if it wasn't the case. There's of course the ethical consideration, which only you can decide on, but it could also destroy your reputation way worse than leaving an internship early because it was a horrible experience would.

 

I left an internship at a bulge bracket before after 1.5 months (this was a semester long internship). My boss called my school and threatened to blacklist me from the BB (he actually called my school). But ultimately, I left it on my resume and I had no problems afterwards...In addition, I received a SA Front Office Role from the same BB. You will burn some bridges regardless.

On your resume: (you can do this if you want) XYZ Bank NYC, USA BO Intern Spring 2012

 
I left an internship at a bulge bracket before after 1.5 months (this was a semester long internship). My boss called my school and threatened to blacklist me from the BB (he actually called my school). But ultimately, I left it on my resume and I had no problems afterwards...In addition, I received a SA Front Office Role from the same BB. You will burn some bridges regardless.

On your resume: (you can do this if you want) XYZ Bank NYC, USA BO Intern Spring 2012

Wow, that's pretty scary that your boss would put in the effort to get back at you like that. And pretty awesome that you still got a FO offer at the same bank regardless haha...

 
asiamoney:
I left an internship at a bulge bracket before after 1.5 months (this was a semester long internship). My boss called my school and threatened to blacklist me from the BB (he actually called my school). But ultimately, I left it on my resume and I had no problems afterwards...In addition, I received a SA Front Office Role from the same BB. You will burn some bridges regardless.

On your resume: (you can do this if you want) XYZ Bank NYC, USA BO Intern Spring 2012

Wow, that's pretty scary that your boss would put in the effort to get back at you like that. And pretty awesome that you still got a FO offer at the same bank regardless haha...

Thanks man haha I was sweating bullets when my school's career center "requested" that I should meet with them in regards to my internship situation. I seriously felt I got lucky though...I guess he didn't end up blacklisting me from the bank

 
I left an internship at a bulge bracket before after 1.5 months (this was a semester long internship). My boss called my school and threatened to blacklist me from the BB (he actually called my school). But ultimately, I left it on my resume and I had no problems afterwards...In addition, I received a SA Front Office Role from the same BB. You will burn some bridges regardless.

On your resume: (you can do this if you want) XYZ Bank NYC, USA BO Intern Spring 2012

Thanks, I like the Spring 2012 idea.

Is it going to invite less scrutiny at my next interview as opposed to writing Feb 2012 - April 2012?

 

You're leaving an internship because you don't like the work? It's an internship my man.. a lot of the work is probably not going to be enjoyable. Give me a good reason to quit.

Unless there's a really good reason, I would just suck it up and stay the course. You'll be able to put it on your resume and there's always the possibility that you can reach out to your contacts there down the road.

 

Give some notice and speak to the boss. Sending an email and not showing up isn't the best way to do it. Regardless of how you decide to leave it doesn't sound like it will hurt you that much going forward.

 

might as well have a talk with him now and quit. Cold calling is the worst...I had a similar internship, and I hated going to work everyday. I stuck with it for a few months because my boss liked me and i needed another recommendation for FT jobs, but i thought about quitting everyday.

 

the worst thing is the guys who i work for are young. they like to point out my flaws and basically treat me like sh*t (though they say they like me) under the guise of trying to teach me valuable life lessons. it sucks.

 

I am in almost same boat as you but I am not having thoughts of giving up yet. Just suck it up dude. At least your boss used to be in IBD. The place I am currently interning (PWM) is literally making me check which phone numbers are not blocked by their wireless provider for sales calls. Hoping to do some analytical work but that wont happen for a while...

 

People in sales sometimes tell the person on the other end what they want to hear...such as baiting an intern with a networking opportunity that in all honesty you could probably set it up yourself. Stick it out in the job, but don't be surprised if that 'promise' doesn't work out either.

 

OP, can you tell us a little about what you're currently doing? I have to respectfully disagree with happypants. If the work you're doing is 100% crap, there is little reason to continue doing it.

At the end of the day, you're working for two things: bullets on your resume, and direct references/mentoring. If either quality is lacking in the work you currently do, you need to make up for it. If you can't do that, you should reconsider your internship.

I think that if the "sales" you're doing is cold calling people to sell brokerage services, you should consider finding better work. Believe me, it isn't that hard to find an internship where your boss tells you to do a ton of research on stocks.

On that same note, consider the other reason for working: direct references/mentoring - basically, enhancing your network. If you're positive that your boss worked in investment banking and can refer you elsewhere after, perhaps you should stay. However, you should think about why your boss is where she is now; it may be that she sucked at her job and all of her references are liable to hand you work just as shitty as what you're currently doing. It may also be that she's got you sold - remember, it takes a really good salesperson to lead a team of salespeople. She might have simply convinced you that this is the right place to be and that you're an asset she needs. Either way, you should be thinking about what this means for you, not her.

One final thing: if you've got nothing better going on (no major certifications, etc.), keep at this internship until you find something better (and DO find something better). Use your time to keep networking until you can get out of your current position. As soon as your time value dictates that this internship isn't worth it, however, bounce out of there like you don't give a fuck. I think that your major goal right now is to find a relevant internship for the spring or, ideally, the summer, to position yourself for Junior year internships and ultimately the coveted SA position. The moment this internship isn't as helpful in doing that as whatever else you're thinking of doing, drop it.

Good luck.

in it 2 win it
 

OP, I feel your pain. I've worked cold-call sales for a broker beforehand, and it is hard to find more demoralizing work. Just know that you're improving confidence, soft-skills, and your elevator pitch. All of this will translate into better interviews at your future internships. If you do close a sale, the rush is tough to beat as well. Of course, sales will only develop one skill-set, so get out of there as soon as possible. Given your flexibility at the role and the fact that it is unpaid, I would attempt to sneak in networking calls during lunch. You're working unpaid, so don't feel bad about it either. There's a reason companies like Northwestern Mutual have 85%+ turnover rates.

 
SlikRick:
OP, I feel your pain. I've worked cold-call sales for a broker beforehand, and it is hard to find more demoralizing work. Just know that you're improving confidence, soft-skills, and your elevator pitch. All of this will translate into better interviews at your future internships. If you do close a sale, the rush is tough to beat as well. Of course, sales will only develop one skill-set, so get out of there as soon as possible. Given your flexibility at the role and the fact that it is unpaid, I would attempt to sneak in networking calls during lunch. You're working unpaid, so don't feel bad about it either. There's a reason companies like Northwestern Mutual have 85%+ turnover rates.

He's 100% right OP, but just one note on that: if you're working for a NWM type of firm (insurance sales), GTFO right now. It is not worth your time and there's a 99% chance that your boss did not work in IBD and does not have "connections" for you.

in it 2 win it
 

Let's see.....

No paycheck, no discernible transferable skills (although, you definitely should learn sales skills), I highly doubt your boss has great and relevant contacts, and you hate it.

I'd quit.

 

Thanks everyone for your input.

The work I do consists of cold-calling different financial institutions (everything from JP Morgan to small hedge funds), digging up firms and contacts to call, and maybe writing a company profile when my bosses have sales meetings, in addition to the typical office assistant stuff.

This company does outsourced research. It is an analytics service, but all the analytics work is done in India. No one in the NYC offices does research. They must be really focusing on sales because they just hired five unpaid interns just to make sales calls.

The boss who used to be in IBD actually went to my school. She says she worked in IBD for 3 years and gtfo because it was becoming too much. And yes, I wonder every day too why she is working in a sales office now... She constantly complains about her wasted talent as a quant. As I said, she keeps saying she'll be in a difficult position if anyone quits, and I'm afraid she'll go and talk bad about me to her contacts.

 

Nothing to be expected as far as contacts. The reason I advised staying is because you want to have something on that little piece of paper you send out to try to find a job. Having something, even barely, finance related is immeasurably better than nothing at all.

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

like above - this is a finance website.

Please do not make such long posts.

On your story - I d recommend going to the multimedia company where you say the people are "normal". It is not good to be in an environment where firings of questionable nature have been common.

If you have to ask how much it costs, you cannot afford it
 

Do it. This is all you have to say: "I've decided to pursue another opportunity, it starts in two weeks (or whenever), thank you for having me on board for a while". I think you know this, but now you're getting unanimous advice from a forum where people bicker endlessly.....hit the eject button

Get busy living
 

Thanks guys; I know it seems like a no brainer but I just wanted to get other opinions. Much appreciated.

I was honestly just a bit worried as to how the team at my firm would react. Basically these guys have taken people previously from my uni and I was worried that they might call my uni and complain or something.

Guess I'll have to handle it if it happens - I'll just mention that I'm not getting any good experience or that it's not what I was looking for.

Thanks to everyone for clearing up this ridiculous dilemma !

 

Just did something similar this morning. Be extremely thankful for the opportunity at your current firm and, as others have said, be honest with them. It's your future/career - gotta do what ya gotta do.

Extremely bullish on Heidi Klum, currently.
 

Don't quit. Just live up to your committment and make the best of your situation. It's only 10 weeks so do a good job, get a full time offer, and leverage it to get into something else. At the very least, you'll have a pretty legit internship on your resume that you definitely won't get to put down if you walk off half way through.

 

You made a commitment just honor it for the summer do something else next summer.

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 

Personally, I would stick it out as it would look good on your CV regardless of what you want to do.

However, if you really dislike it, I'm sure it tells you somewhere in your contract the notice you have to give etc.

 

I agree with the advice above. Don't quit - do you best and still try to get the FT offer. Lever that to another role you actually want. This happens to loads of people so don't feel like you are alone. At least you tried it :) Chin up!

 
IncapableChimp:

Stick it out. If you stick it out it will show you honour your commitments. If you instead quit it's going to be noticed by potential employers and what's to stop them (justifiably) jumping to the conclusion you'll just walk. Stick it out, take the nice pay check that comes with it and learn from it.

This! If you don't want to be asked 100 times during your future interviews why you quitted, just finish it. It is quite normal to say that you did not like it while it is way less normal to say why you quit during it. At the end, they will think that everytime you are committed to do something you don't like you will just drop it. This can be a major deal breaker for getting a job in other challenging environment such as cnsulting.

Go till the end and keep in mind that life could be so much worse (e.g. being fighting in Iraq, being unemployed, being working in a factory or a farm with low salary, etc.)... You are lucky to be in that position even if you don't like it.

I'm grateful that I have two middle fingers, I only wish I had more.
 

You have no idea how much of a good thing you have. Stick it out.

Here's a lesson I learned a while ago that helped put me through everything - pain is temporary. Whether you're in the gym trying to push out that last set, or on the job doing something you hate for someone you can't stand, it'll all be over soon and you'll be glad you pushed through it. 10 weeks is light work when you put it in perspective, and this internship will take you places - trust this entire community on that fact.

in it 2 win it
 

Suck it up. You don't understand now what this experience will do for you.

It's not even about working in IB - it's about the experience. Few internships or work environments will challenge you like 100 weeks in the banks. You will come out of this more refined and capable no matter where you go next.

"If you want to succeed in this life, you need to understand that duty comes before rights and that responsibility precedes opportunity."
 

Quitters never win. Champ this one out and it'll be a character builder. In your next interview when someone asks something like, "tell me about a time when you were in a tough situation and tell me how you worked through it.", you'll have a golden answer.

Make opportunities. Not excuses.
 

Stay focused, take the heat and finish srong - I guarantee you will not regret it afterwards. There are a lot of negative feedback affects from quitting early; which you don't want at the beginning of your career.

People who give up are losers. Focused winners go home and fuck the prom queen. Remember that and best of luck!

 

I'll echo above by saying don't quit, but also add that if you really don't even care about going back into banking or finance, do everything you can to make your life easier. Sounds like terrible advice, but you need to be able to finish your internship and while a lot of people might not get return offers, hardly anyone quits or gets fired. Do things like leave earlier if you have nothing to do or spend more time during lunch. Still focus on doing a good job with your work so you don't seem totally useless.

 

It's the pain of change. My first job required me to sit in a room with no windows for more hours than I'd ever sat anywhere. I couldn't believe that this was the rest of my life. I took every minute of the "hour" someone said you got for lunch. My first rating was subpar as a result.

You're human and you're resilient. I can almost guarantee you that you will not like any job you get at first. You go to a great school and get good grades and you're being ripped on while doing mindless monkey work. It changes. But here's the rub. You have no idea what the job entails. You've been there 20 days. Don't judge the experience until it's over.

 

Everyone in this thread seems to be missing the most salient fact in all of this: you're considering quitting an internship!!!! I can't think of something that would set off more red flags in future interviews than throwing up the white flag on a 10-week commitment. If you can't survive 10 weeks of something - even if it's IB! - I don't have any faith that you'll be able to last in a full-time roll. Definitely - please - do not quit.

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 

Hey bro,

I quit a job after 11 month. There has been no interview (professional, informational and for bshool) that that has not been asked. I am sure it kept me out of many great opportunities. That was after being there for 11 months so imagine after only 5 weeks. Also shit like this come up in good background checks so don't think you can run away by not putting it in your CV.

 

I think everyone has hammered home the whole don't quit point, but I would also say that a lot of interns in your position go though similar feelings. I know at 4-5 weeks into the internship I was frustrated by how long it would take me to complete tasks, how much red ink covered the markups, etc. It gets better. You get better. I would take any animosity you have towards the industry with a grain of salt and just try to improve your skills and make a decision when you're a bit more level headed

 
ayoayo:

I think everyone has hammered home the whole don't quit point, but I would also say that a lot of interns in your position go though similar feelings. I know at 4-5 weeks into the internship I was frustrated by how long it would take me to complete tasks, how much red ink covered the markups, etc. It gets better. You get better. I would take any animosity you have towards the industry with a grain of salt and just try to improve your skills and make a decision when you're a bit more level headed

This. My Sr. Analyst went over my first projected 3-statement model with me last week...that wasn't pretty.

 

Clearly quitting is not desirable.

If quitting is a necessity, maybe go to the doctor with "uncontrollable bowel" symptoms. They might recommend a series of tests, an deem your internship as not suitable for your health. Then you quit and have a good reason to so so.

Also, no interviewer would ever want to pry into how severe any bowel related symptoms are.

 

Buck up, stay there. It's another 4 weeks. Fulfill your commitment and then you'll have some options. You're not doing this for five years, you're doing this for another 4 weeks. Don't be a quitter.

********"Babies don't cost money, they MAKE money." - Jerri Blank********
 
Best Response

This is what happens when you sheepishly follow the herd. My guess is that you only went into IB because you heard that it was the "in" thing to do...sheep.

I'd suggest biting your tongue, putting on a happy face and finishing the internship. Even if you don't want to do it for a living, having it on your resume could help you get into other things. Just walking away will probably do more harm than good.

 
Vinsanity:

This is what happens when you sheepishly follow the herd. My guess is that you only went into IB because you heard that it was the "in" thing to do...sheep.

Basically. I feel bad for people who have been deluded into thinking IB was going to solve their life's problems, thanks to this web site.

 

As everyone above has said, stick it out. If it were a full-time job after graduation, by all means, quit if you were miserable because life is too short. But SA positions always have a fixed end date--just survive until then and do your best the whole time because you are representing both yourself and your school. If you do get an offer, then you can turn it down at that point.

 

don't quit. Take the internship, turn down the offer if you hate it and leverage the experience. Nothing worse that a quitter... learn from the 10 weeks and feel good that you have learned something about yourself.

 

If you're planning on staying in/around the industry, I think the chorus above has a definite point.

BUT, if you're interested in a different path, quitting could still give you some time to pursue an ad-hoc opportunity elsewhere. I left IB and pursued social entrepreneurship---I'd be more than happy to talk through the transition and lay out some (specific, actionable) opportunities for you. Opportunities you could pursue still this summer.

The story of IB >> social impact could read well in some circles....

 

By the time you read my comment, I hope you get what everyone is saying: stick it out. Try to make new friendships; that will make time pass faster and also create challenges for yourself on the job.

 
treetotree:

If you're planning on staying in/around the industry, I think the chorus above has a definite point.

BUT, if you're interested in a different path, quitting could still give you some time to pursue an ad-hoc opportunity elsewhere. I left IB and pursued social entrepreneurship---I'd be more than happy to talk through the transition and lay out some (specific, actionable) opportunities for you. Opportunities you could pursue still this summer.

The story of IB >> social impact could read well in some circles....

I'd like to hear more

 

As being someone who has worked in other industries outside banking, I highly recommend sticking it out for the remainder of the summer, continue earning your summer income, and leveraging this internship for future jobs outside of banking (which will really come in handy if you are interested in pursuing corp strategy, corp finance, consulting, etc upon graduation).

These kinds of internships look very favorably amongst employers outside of banking, so be mindful of this. The rest of your summer may not be ideal, but life could be much worse so keep your head up and finish it in a professional manner.

 

Two points

(1) You're halfway there.....

(2) If you get a full-time offer, you may be able to leverage that into another role at the same bank. Think about it. If you come out of the summer having impressed everyone enough to get a FT offer, you have a lot of leverage to talk to HR that maybe you would like to try commercial banking or something like that.

 

There's already a ton of posts above that echo my sentiments, but yeah, don't quit:

1) It's good that you figured out IB is not for you as a SA instead of a FT analyst. Treat this as a positive - now you know what direction you can take for FT recruiting.

2) It's only for another month. Stick it out, and do your best to get a return offer. Not to go into banking again, but so that you can say to MBB or anything else you have your heart set on - "I am a desirable candidate, but I CHOSE not to be in banking because... [fill in why they > Banking for you]"

3) If you quit, all other firms (not just in banking), will question your ability to fulfill your commitments or tough it out when there's stress. "If you so readily quit a summer position, which is 10 weeks tops, what's stopping you from walking from us when it gets tough?" Banking is tough, but so are a lot of things in life.

I hate to use the "you don't know how good you have it" card, but imagine those who did not get a good internship this summer before another summer or worse, FT recruiting cycle. You just need to finish this up and you'll have a great resume to shop around with.

Hang in there!

 
JamesBondCali:

I need some help from the community.

I have been summering at a BB IB for a few weeks now and I am absolutely miserable. I worked hard, studied hard and put a lot of hours in this to get to this point and I realize it's not me. The only way to explain it is that I am not happy and don't enjoy it. I think its good that I realized it now vs 4 weeks from now or after I get the offer as I will have wasted the banks time and my time. However there is delicacy involved in that I don't want to piss off my school (Top 10) or the bank.

I know they would understand but there are going to be repercussions. I just don't want to live 100 hours weeks not really caring or not wanting to be there and hating every minute. If I learned one thing in BSchool its "sunk costs" and how you don't factor that into your decisions t. Any suggestions or experience on this topic?

So.... Are you still there?

"If you want to succeed in this life, you need to understand that duty comes before rights and that responsibility precedes opportunity."
 

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7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”