R&Co Summer Internship: Rejection at AC

Hello Everyone, 

Some days ago I was called for the AC at Rothschild & Co for the Summer Internship in IB - London. Before proceeding I must say that I have a great understanding of the firm (I modelled it in a previous internship), I have friends there, and I met the managing partners during my previous internship. All this allowed me to stand out during the first rounds and seemed they really appreciated it, they always smiled at interviews and we found ourselves conversing really good with associates and directors. At AC we were 8, I do the first exercise (alone), then the group one. In the group exercise, we were split into 2 groups so I was working with other 3 people. The others were always agreeing with me and used my points to make the final presentation, some of them panicked but nome said anything that was used/useful. The final interview went super. 

I was really expecting an offer because I really had the feeling that could not have gone better. Yet, after 5 days I was called and the HR told me that while the team was impressed etc.. they could not make an offer because they had to take only 2 candidates out of AC but that I performed well. 

Needless to say, I am disheartened, but at the same time, I really don't know how to react... and I don't understand what should I do. Any advice?

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Comments (10)

Most Helpful
  • Incoming Analyst in IB-M&A
Nov 21, 2021 - 3:22am

I'm sorry that the AC didn't go the way you wanted/expected it to - I can completely understand the frustration. I had a final round EB full time LDN interview a month back and was in a very similar position: thought it went great, killed the group case, great individual interviews and honestly, I was fist pumping on my way out of the offices. I think you have to take the feedback at face value since there isn't much more you can do that would provide you value. Sometimes other candidates are preferred more, often for reasons outside of the AC itself - whether that's previous interviews, prior internship experience or the school they went to. 

I will say, FT recruitment is a massive pain, and extraordinarily competitive even by this industry's standards. Keep your head up, keep grinding and opportunities will come your way.

Nov 21, 2021 - 6:08am

Well done on the interview, sounds like you performed well but did not get the end result you expected. This happened to me alot during university in my penultimate year too, just keep grinding is my advice. It can feel like you do everything right only to get rejected, but it is an incredibly competitive industry and every single factor is taken into account

  • Intern in IB - Gen
Nov 22, 2021 - 2:37pm

Because it's not enough to perform well. Most final round candidates generally interview well. You don't get offers by being the middle of the pack in a group of people that all interview well.

Most likely what happened was nobody went to bat for you in the discussion afterwards. As in, people generally had a good impression of you, but no one stuck their neck out and said "I want this kid on my team". You only need one person to have a strong opinion about hiring you and it seems that wasn't the case. 

  • Intern in IB-M&A
Nov 22, 2021 - 3:55pm

I dont think so. My final interview went super. I think i was the only one who met the CEO in a previous stage. During my final interview me and the director found ourself conversing about a transaction we worked toghether from different perspectives. Was my best interview ever.

  • Intern in IB-M&A
Nov 24, 2021 - 8:07am

don't be hard on yourself, i know someone who did the same AC and progressed to the final round. apparently Rothschild only had 1 more spot left and now they're all done. It was just extremely competitive.  

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  • Intern in IB-M&A
Nov 24, 2021 - 8:48am

Yeah i think It was the last AC they were doing. In fact, they told they were picking 2 people only...

Nov 24, 2021 - 7:06pm

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