No FT Return Offer (MM)
Hey Everyone,
Despite getting positive feedback across the board, I didn't get a return offer due to a lack of spots available and was added to a waitlist. The group didn't provide any other reason than that.
I'm going to start recruiting for FT, my goal is IB or something similar but considering the circumstances we are in, it's going to be tough plus I'm also from a non-target.
Over the summer I worked in a coverage group at an MM (not Jefferies) and I did get on live deals and pitches. Just in case I don't get anything, I'm opened to other positions and industries that are not related to high finance.
So what are other areas I can look into and spin-off my summer experience?
Thank you!
Sorry to hear that.
I've heard valuation companies (e.g., Duff and Phelps) can be a way to IB down the road.
Was this in NYC? And was intern class > 20 or smaller?
Stay positive, and keep networking!
Yeah this was in NY, the intern class was quite large >50, they historically have really high return offer rates.
I will be looking in valuation firms but it'll be hard to craft a story for valuation positions cause I did a valuation internship prior to IB.
I don't think you have to spin it that "I didn't like valuation, that's why I'm looking for a new job." Sounds like you got some experience, got some good reviews... embrace that. Don't be bitter, but project confidence that you did a good job and, quite frankly, you think you deserved a full time position based on your experience... but obviously, these are bizarre times, life isn't fair, so you're just looking for another opportunity to be part of a team that does interesting and meaningful work. And hopefully, you have people you worked with this summer that can vouch for you and, if it was their choice, they would have hired you.
This is probably Nomura, Blair one of the few banks that let their interns get on live deals this summer
Or Piper Sandler? Seems to fit the description
Blair absolutely didn’t not let their interns work on live deals.
Did not let their interns
Welcome to the club, it fucking blows but life comes at you faster than a 1-2 Mayweather. Take 3-4 days and then sit down and figure out actual long term goals - not “exit ops” and see if there is another route there (consulting, law school, corporate strategy etc.) IB gives you plenty of optionality later on, but if you figure out what you want to do right now then game planning how to get there gets considerably easier.
Which bank and city?
Just a guess... Piper NY
We’re still waiting to hear back, but a lot of MMs might be having an off year from what it sounds like
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Posted on another thread, but I was in a similar boat and didn't get a return offer. Ended up getting a FT IB offer at a BB (think Citi/BofA). Would be happy to help out if you want to PM me.
Did you have contacts at Citi/Baml? Or just apply?
Appreciate it, I sent you a message.
Bump. In the same situation. Have reached out to other banks explaining my situation with no luck. Not sure if too early or too late to reach out to banks. What are some other routes people can take if they don’t get a return?
How does the waiting list work?
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