Juniors - Worried about internships?
I sawa a couple of seniors end up with no BB IB offers, and they are some incredibly bright kids. I really hope something works out for them. Is anybody worried about getting an internship this year? or doing FT recruiting next fall for those not interning?
Honestly, you should be less worried about getting an internship than about getting a FT job or something, because worst case scenario you should be able to find a boutique that lets you help out for free over the summer. Trust me, it's a much easier sell when they don't have to pay you.
I have a 3.7 from a top target, hedge fund ops sophomore year, reputable boutique IB junior year, and I don't have an IB BB offer! It fuckin sucks because I feel like my years of busting my ass for a solid GPA is being heavily discounted by this terrible job market. I interviewed with 4 BBs but my friends from within say they are hardly taking any for full-time. On top of this, there are many layoffs and it's making the competition much tougher.
I'm considering applying for an internship and banking on converting it to full-time.
Of the 3 senior girls in my sorority who interviewed for FT jobs, only 1 got an offer with MS, nobody else. The 3 of them didn;t get offers from the BBs they interned in (one at Lehman DCM, one at Citi IBD, and the other at JPM IBD and they are really bright. The other 2 are thinking about converting like you, but I don't know. I think 09 SA hiring will be like the 08FT hiring too. Maybe I'm too pessimistic. Your thoughts guys?
Well, also keep in mind that if you didn't get an offer for full-time from an internship, you're already in a pretty deep whole with BBs in general...
how come some people at ivies don't bother to apply to MMs/boutiques in this type of hiring environment. I mean, albatrosslee, interviewing with 4 BBs this year and not having any mm's or something as a backup is a bit risky dont you think. Is it because people at ivies feel more entitled to the BB and dont want to "lower" themselves to other banks.
P.S phoenix, the girl that got MS FT...did she intern at Lehman/Citi/JPM
She was at Lehman
the market is terrible these days...i dont go to any ivy league but im using some powerful contacts within the bulge brackets to get things moving...but even then it looks pretty slim...i know ML isn't looking forward to take on any new people...credit suisse is a bit more open....goldman sachs is open but thats another story.....
freeloader - why do you say that?
hmm, Lehman summer internship + no offer= MS FT >>>means your friend must have been really hot?
Well, not receiving an offer usually makes a bank think you're "damaged goods" to some extent, you screwed up during the internship to not have gotten an offer to return.
She didn't get an offer because she went out to party too much and once came in to the office at 1:00pm because she overslept. Her MS offer is in S&T actually, so it's not a huge deal if sje didnt get an IB offer. if it were lehman ST though..
Well, "partying too much" and coming into work late is a good way to not get an offer in IBD...would also explain why she had to switch to S&T...
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