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.
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.
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:
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.
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
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
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.
Probably wont matter much. Most firms will only confirm dates of employment when called for background checks.
quitting an internship (Originally Posted: 02/10/2010)
hi all,
i'm working as an intern at the private client division of a boutique with a few brokers. my job consists of cold calls and getting coffee / making copies / other bs intern stuff. it's safe to say i'm not learning much and the firm is not really the best place to work at. i'm not getting paid, i'm getting college credit for the internship and i'm going to graduate this year. i'm not really enjoying the internship and i'm thinking of leaving, but my question is, how would this affect my future career prospects? i'm going to grad school in a completely unrelated area next year and i don't really need to do this internship...i was just doing it to get some corporate, real-world experience (but it sucks). how do i quit? do i need to talk to my boss in person or will a simple email work?
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.
brokers at my office did the same shit to interns too. if i were you i would quit tactfully. however, if you have nothing else to put on your resume that's finance related you might want to stick it out.
First internship and it kinda sucks. Wanting to quit (Originally Posted: 10/08/2012)
I apologize if this isn't the right board to post in.
I'm a sophomore in college and got my first finance related internship this semester. This is my third week. I'm supposed to work until December and I'm not getting paid (just compensated for lunch and transportation).
The problem is that it's not really related to finance and it's basically a sales role at an analytics company. And I really suck at sales with English not being my first language and just being a shy person in general. I basically get yelled at every day. I'm pretty sure the company REALLY needed interns and that's why I got an offer. I don't really like the people in my office, but I assume that happens everywhere.
Since this was the first offer I got, I got too excited and accepted right away, which was a huge mistake because a few days later I was offered positions at different companies where I could learn more about the finance industry itself.
I really wanted to quit, but the boss keeps telling me that she'll be in a difficult position if I quit. And she promised me that she will put me in contact with different people if I do well (she used to work in IBD). Since I don't have any relevant work experience, I need something on my resume too.
But every day it's just frustrating because I feel like I'm not improving at all and I keep getting yelled at. I'm sure sales skills are probably a good thing to have, but I want to go into equity research.
Since I only have two more months, should I just suck it up and stick with this job?
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...
Pay the up front cost. Go through the bullshit to get where you want to be.
If you're getting yelled at you're not doing well... which means she won't connect you to the IB folks anyway.
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.
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.
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.
She was an analyst or associate. She's not a BSD. I wouldn't worry too much.
Yes, I looked her up on Linkedin and she was an analyst at Lazard and Credit Suisse. Not sure what that means in terms of contacts she can provide.
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.
Bump?
You started in September? Honestly I'd probably stick it out until November and bail (that way you can put in on your resume for three months instead of two). I did a complete unpaid bitch work internship and it sucked, but it worked as a stepping stone. Don't work too hard, just get it on your resume and GTFO
How Do I Quit an Internship that wants to hire me? (Originally Posted: 12/17/2012)
Greetings,
I am a 25 year old, current grad student who quit a job paying nearly $40,000+ ( technically a call center type of job, but great benefits but I felt content here and not happy-I wanted more for myself), to move to LA to pursue what I call "my dream job." I was looking for excitement, for my position to matter, longevity, to pull out my passions, a full blown career, benefits, a family-like environment, growth opportunities; what I call the bare essentials. Now, when deciding on rather I could take an internship or an actual job to start me out, I weighted out each offer I had on the table very quickly, only because my internship "offer" sounded so promising. September, I was offered to do a third interview with a multi-media streaming company, which I know could have been amazing, but I held off for an internship that seemed to have all the glitz and glam of dealing with celebrities everyday, or so I thought. I took the internship because they said it was paid and to me being paid could work especially if I can work hard enough to make "payroll" after working out my "intern" period. So after receiving my first check of $150 for 40 hours for one week, I just knew I would not be able to do this, I thought it would be more, so I addressed my concern, only to have success to getting $300 a week. So after patiently waiting and diligently working, I witnessed the personal assistant to the D list actress we work for (maybe C List) get fired. SO, I then took her place and was offered $400, a week. But this occurred during my internship of only 2 months! But I came to the company because 2 other individuals were fired before her! Now, I am running this office and the "actress" still doesn't feel like I am an actual employee, but still an intern, while her husband who runs the office, sees me as the "it" girl to run the office. Now, I am stuck for she only wants to pay me $500 a week starting in January, because technically I am still an intern, which I really worked through my internship already from October-November, of 2 months and starting in December, I should be on staff, or "Office Manager" now. The husband made it a debate with her to pay me at least $600 weekly, which to me is still not really worth all the work I am doing and what is yet to come! I am bored now, by myself and the actress is A LOT to deal with everyday! Then I run the office completely! I am more than happy to do this and I would work very hard to make them proud to have me as their office manager, but the pay range is totally not worth it. I could take the job at the multi-media company doing way less, but having a lot more fun with NORMAL PEOPLE to talk to everyday in my office and get paid a little bit more. I just refuse as a college grad that is still improving to settle for less than $30,000, ESPECIALLY living in LA, it's too expensive not to make a decent living. Now, I was promised commission, once events take place, but there isn't really a mentor ship that took place to train me on the things that can get me commission -so I am like a "lost manager", and who wants to feel like this? The husband really believes in me and wants me to be happy, and said he will support my decision, but when I already hinted that I wanted to part ways, he quickly reverted back to keeping me and letting me know my pay will get better, when commission kicks in. Realistically, it won't kick in anytime soon, since I was told I would start that right away and I haven't when I've been here almost 3 months. Financially I am struggling to make ends meet since when I first moved to LA without having a job lined up, I ate away most of my savings account on living costs before I found a job, but it only took a month and a half to find a job, so to me I knew whatever job I took, would be able to sustain me sooner than later. Plus, a lot of the things they do are a little fishy to me, they have had over 10 interns in the office in 2 years, they have had 3 people on "payroll" and none of them are there, and I got hired because the girl worked for them for 3 years left and now I am confused on why people can't find stability here. They pay individuals with personal checks, and I found out "payroll" technically is just the same pay that you get with a personal check, but now taxes come out! Which makes my pay go down more, even when it went up! When I did the math $500 weekly is only $24,000 yearly and $600 weekly is only $28,800. Commission, when it comes is only 4% and that could potentially put me over the $35,000 yearly, but now I am almost completely convinced we should part ways in January and I should continue my interview with the other offer for I let them know I was offered an internship and I would contact them as soon as it was completed. I know this was a lot, but I need assistance or some advice other than my parents for my dad thinks, I should move on if that's what I feel is best and my mother wants me to stay because "SHE" is happy with the title I have and "SHE" believes it will work out....Now, my question is three months of not really experiencing what I expected and talking about it with the CEO more than once and things not improving, is it time for me to call it quits or stick around HOPING things will get better? And if I should stick it out, how long should I stick around knowing that the other offer may disappear after January?
This is a finance website.
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.
Paragraphs are your friends.
his/her "enter" button must not be working...
Quit internship for better option ? (Originally Posted: 06/25/2013)
Hi WSO,
First time poster, long time lurker; now I really need some solid advice regarding my situation.
As a result of poor networking and being from a non-target school, I was barely able to get FO interviews junior year. I ended up getting only 1 interview at an unknown european MM/boutique firm, which I was able to convert into a 9 month long unpaid internship in their IBD team (May - Jan). They assured me that I'd get more exposure to deals primarily because of the small team size.
Here's the issues: I've been here for about 2 months and there have been zero deals. Zilch. Barely any pitches as well: The IBD division seems to exist just so the firm can claim they are a full service bank (they have a large commercial banking side). The team consists of just a MD, a VP, an associate and the intern (yours truly). I mainly do crappy admin work when I'm not sitting around twiddling my thumbs.
Don't ask me how, but I know through reliable sources that the division is struggling and no new deals are coming through anytime soon. So I really don't know whether the next 7 months (!) of my internship will be any different.
Finally, to add to all of this crap, I was told at the beginning of the internship that there really isn't much of a scope of getting an FT offer.
Anyhow, I planned to stick it out as I didn't have any other choices - but I recently got in touch with a VP at a large european bank (almost BB), landed interviews and voila - they are willing to offer me a 5 month stint as an intern in ER (btw, they know that I'm in an internship already). This would be great as I love following markets and enjoy the flatter hierarchy in ER as well (I had previously done a ER internship at an independent research firm; loved it). Plus, the brand name of the firm would help open more doors in the future.
So my questions are as follows:
Should I quit my current internship ? With no FT offer in sight and it being unlikely that I will have anything substantial to note on my resume, I don't see the pros of continuing. But maybe you guys might look at it differently.
If I do quit, how should I go about it? I know for a fact that despite there's being no work to really go around, these guys might try to convince me to stay - to protect their egos and to have an office grunt. I'd prefer not to burn any bridges if it's possible to avoid it.
Sorry for the long post, but I'd really love to hear your thoughts on this.
TL;DR: Crappy Junior (ongoing) internship; No dealflow and no chance of FT; got a better option; should I quit - when and how ?
Go for it man. Much better offer and if it's paid you will be set for FT offer.
It's a no brainer. If you stay I will personally come find you and punch you
Jump ship, but only when you've signed the new contract.
Definitely go for the new offer... Just be really gracious when you leave. Let them know that you are grateful for whatever opportunities they did give you, but this new opportunity is more in line with your goals. Sounds like a great spot that you were able to land. Good luck!
unpaid, sucky experience, no deals coming through and just got a brand name paid interesting internship....Yeah, I would stay at the unpaid, sucky................LEAVE
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
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 !
Quit. Say you got a paid offer and they should understand.
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.
Quit IB summer internship (Originally Posted: 06/29/2013)
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?
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.
.
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!
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.
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.
It is easier to explain in an interview why you are switching from IB, rather than why did you quit your last job.
Also, this would be a good time to start networking towards whatever field you think you want to go towards. Of course, don't make it obvious that you are networking, but you do need to start establishing new contacts.
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.
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.
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.
I'm a contrarian, so you should probably quit.
^Lulz
Stick it out, get a FT offer & leverage it.
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.
You have to tough this one out.
What do you guys think of telling his employers the truth? "It's not working out, I don't like it, but I don't want to break my commitment." They'd probably rather ease up on him than lose someone right? He won't get a good recommendation but no one can deny that he did work there.
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.
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
dont quit, its only a summer gig..jeeez
You're really soft OP. If you quit, future employers will know it before they even speak to you. If you stay, they might only find out after they hire you.
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.
Don't quit because you would waste all that work you put in getting this position. Capitalize on it and learn as much as possible.
Start watching at 11:04
Definitely don't quit...
i can totally relate to this. i'd say suck it up and hold tight for 10 weeks and leverage the exp to pursue whatever you're looking for in the future.
Cheers, Q
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.
It's a summer internship...jesus christ...suck it up
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.
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.
Why the ms? Doesn't anyone have any sense of humor?
stick it in thebank - you're hafway thru dun give up !
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.
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.
Don't quit, even if you hate the job, flaking from an internship is a bad idea, finish out and reflect. Take a couple of days and think about what you hated and what you enjoyed. Find a job long on the pleasurable and short on the unpleasant aspects of IB. There is a world outside of finance.
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!
What industry were you in before? You're summering between Year 1 and 2 of an MBA aren't you?
I swear this topic pops up at this exact time every summer.
Don't give up, man. You'll be much better off when you finish the internship than if you were to quit mid-way. It's a fight; don't throw in the towel just yet.
Finish what you started pansy.
http://www.businessweek.com/articles/2013-07-03/reneging-on-a-job-offer…
So.... Are you still there?
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