Weird Situation: Cannot AFFORD Offer

First time user here. Wow, this site would've been overwhelmingly helpful a few months ago.

I am a sophomore at a top tier school. I was lucky enough to be told I would be offered a summer 2019 analyst position at a prestigious boutique at the end of the second phone interview before the superday. I leveraged this stage in my process at a boutique into an accelerated process at a "bulge bracket" bank, which resulted in an offer whose contract and list of requirements will be sent out end's day tomorrow. The interviewer told me a laundry list of things I should prepare to submit because this offer "explodes" Tuesday.

He said the bank will require a transcript. I thought an unofficial would be fine... I talked to my friend who is in banking in NYC, and he said official transcript is common practice. My school charges $200 to send out official transcripts, and I LITERALLY CANNOT AFFORD this. Think rural white American family from the Midwest. I do not have a credit card. Anyone know a bank that is lenient on the applications and approves ASAP?

1) is this true: official transcript is going to be asked by Goldman Sachs/J.P. Morgan/Credit Suisse/Morgan Stanley? I'm trying to keep my identity on the low

2) If yes, how do I scrape together this much cash??????????????

I'm not diversity, so this is literally what feels like my one and only chance to get into banking

Comments (16)

 
Best Response
Apr 12, 2018 - 11:19pm

Official transcripts are typically requested.

Why are you trying to "keep your identity on the low"? That doesn't make any sense.

1) If you absolutely cannot afford it, I would be entirely surprised if a "top tier" school would not be willing to help you. Go to your school's career center and start talking. If that doesn't work, go to the dean's office.
2) If for some weird reason option (1) does not work (which is almost unfathomable), do you have any friends that would lend you money? Does your IB "friend" in NYC have $200 to loan you in this situation (if not, I wouldn't call him a friend)?
3) Can your parents lend you $200?
4) Do you have assets you do not need that could net you $200 if you sell them?
5) Look on Craigslist for odd-jobs over the weekend.
6) Would probably start resorting to illegal shit at this point.

Good luck.

 
Apr 13, 2018 - 10:32am

Tom Bwady:

Why are you trying to "keep your identity on the low"? That doesn't make any sense.

OP means they're not telling us the specific bank they have an offer from in order to remain anon on WSO. Not that they're afraid to send an official transcript to the BB because they want to keep their identity on the low lol.

But good advice.

 
Apr 13, 2018 - 10:55am

effervescence18:

Tom Bwady:

Why are you trying to "keep your identity on the low"? That doesn't make any sense.

OP means they're not telling us the specific bank they have an offer from in order to remain anon on WSO. Not that they're afraid to send an official transcript to the BB because they want to keep their identity on the low lol.

But good advice.

I was hoping that was the case, but wasn't entirely sure based on the wording in OP's post lel.

 
Apr 12, 2018 - 11:22pm

Agree with Tom Bwady. Your school's career center should be able to help you out in this situation. If not, maybe you could accumulate $200 from a combination of the various options Tom Bwady listed above. You could, for example, ask 15 of your friends for $10 each, and then ask your parents for $50.

Wait for other people to validate what I'm about to say, but if worst comes to worst, I would notify the company that you can only send your unofficial transcript at this time. If they keep pushing, then you could explain how it costs $200 to get an official transcript, and that you can provide it within the next week or two (and then find a way to get $200 within that time).

As a side note, though HR will send you a lot of things to complete, from my experience, they really only need you to send back certain items by the offer deadline, one of which will always be the actual contract. Documents like permission for background check and W-9 forms can be sent at a later date.

 
Apr 12, 2018 - 11:30pm

Yeah don't worry too much about this bro, you're in a great position (congrats on the offers btw). Many schools, especially yours too I'm sure have options for low income students for sending transcripts. Definitely call your registrar or whoever deals with transcripts tomorrow and explain the situation. Don't stress man and let us know how it turns out

 
Apr 13, 2018 - 2:58am

I thought transcripts are asked before you start the job not when you recieve the offer? Am I wrong - historically my experience I previously had a BB offer and did not ask for a transcript until very close till my start date.....................

 
Apr 13, 2018 - 10:38am

ngreenbanker2:

I thought transcripts are asked before you start the job not when you recieve the offer? Am I wrong - historically my experience I previously had a BB offer and did not ask for a transcript until very close till my start date.....................

It depends on the employer, but typically, in my experience, a concrete, binding offer (i.e., your ability to actually begin work with the company in question) is contingent upon you providing an official transcript, which serves as verification that: (1) you actually attend(ed) the school, (2) you don't have any honor code violations, and (3) your stated GPA is true and accurate.

 
Apr 13, 2018 - 4:43am

Am I the only shocked by the $200 price?

On the one hand, school was a "a while" ago for me and I know things like textbooks have increased quite a bit in that time. But $200 for a transcript? Seriously? When I first read the OP, I thought maybe it was a troll post but no one else seems to be shocked by it - are transcripts usually this expensive???

 
Apr 13, 2018 - 10:32am

GoingToBeAnMD:

Am I the only shocked by the $200 price?

On the one hand, school was a "a while" ago for me and I know things like textbooks have increased quite a bit in that time. But $200 for a transcript? Seriously? When I first read the OP, I thought maybe it was a troll post but no one else seems to be shocked by it - are transcripts usually this expensive???

$200 is definitely exhorbitant, but unfortunately not entirely unbelievable in this day and age. I went to a top five target, and the most I ever paid was $30.

 
Apr 13, 2018 - 5:49am

If you can truly prove your transcript costs $200, and you genuinely can't pay for it...I'll spot you. This is provided you haven't already asked your Career center for help. If you're truly at a top tier school, this stuff gets facilitated with no issue.

The price doesn't shock me though. I've seen meal plans for a school year exceed my annual meal quota and I eat a rich life.

 
Apr 13, 2018 - 9:33am

I have literally no problem believing your school charges $200, we were essentially educated by for profit corporations. I spoke with our undergrad business school campus careers services center and they ate the cost for me, though. Your career services center has nothing except incentive to have you placed well. If all else fails, ask a friend for the money, promise him $300 back after you get your first check, money won't be an issue from there out.

 
Apr 14, 2018 - 8:28am
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