World doesn’t owe you a job

Seeing a lot of posts about how shitty firms are for not converting interns...pick yourself up, reevaluate and move forward. If you can't handle a small set back and find a new solution to a problem/goal your not cut out for it anyway.
Thoughts?

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Comments (33)

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  • Prospect in IB - Gen
Aug 6, 2020 - 6:01pm

Hey bruv if you can't use the right "your" then you also aren't fit for a gig, have fun being a homeless hooker in White Plains

  • Intern in IB-M&A
Aug 6, 2020 - 6:05pm

I agree generally, but think this year is a bit of an exception. Think it's valid for people to be mad at Jefferies going from 95% offer rates historically to 50% in a shorter virtual internship, especially when the bank as a whole is still doing well. Know someone who interviewed there and the bank pitched him on the fact that offer rates are usually very high- obviously he didn't promise anything forward looking, but it's a little scummy to market yourself as a firm that gives a lot of offers and then rewind that as soon as things get choppy in the world.

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  • Prospect in IB-M&A
Aug 7, 2020 - 1:02am

Not a JEF intern but... what would that do?

"Hey bud now that it's your first day and there's nothing you can do to find another firm, we wanted to let you know you have a 50/50 shot of being jobless and screwed in 4 weeks."

Can't really defend them even if they did - the start of the internship is too late to do anything.

  • Prospect in IB - Gen
Aug 6, 2020 - 6:07pm

It's natural to feel upset, especially since many banks had shitty offer rates. A lot of people vent online under an anonymous post and bond with others as it can be extremely frustrating. While it's true that no one owes you a job, 65% of people had their internships canned within 3 months of a start date. Maybe companies should stop giving out offers 9 to 15 months prior to start dates...

Aug 6, 2020 - 6:12pm
Prospect in IB - Gen:

It's natural to feel upset, especially since many banks had shitty offer rates. A lot of people vent online under an anonymous post and bond with others as it can be extremely frustrating. While it's true that no one owes you a job, 65% of people had their internships canned within 3 months of a start date. Maybe companies should stop giving out offers 9 to 15 months prior to start dates...


A corporate career is full of set backs and people backing out of offers/deals
Think of it has a learning experience
Most Helpful
  • Analyst 2 in IB - Gen
Aug 6, 2020 - 6:21pm
tangomummy:

Prospect in IB - Gen:

It's natural to feel upset, especially since many banks had shitty offer rates. A lot of people vent online under an anonymous post and bond with others as it can be extremely frustrating. While it's true that no one owes you a job, 65% of people had their internships canned within 3 months of a start date. Maybe companies should stop giving out offers 9 to 15 months prior to start dates...


A corporate career is full of set backs and people backing out of offers/deals
Think of it has a learning experience

Think of it in the context of
(i) a global pandemic
(ii) these students literally networked their asses off to get an internship in the first place
(iii) there is still no end in sight to when this will end and people will naturally worry
(iv) first jobs still tend to play an outsized role in their early careers

And tell me you don't feel a sense of pity / compassion?

Sure maybe they'll look back at it in ten years and think that was a great learning experience, but don't toss around "find a new solution" or else "you're not cut out of it" like we're in 2017. They have every right to rant b/c it is in fact a very shitty situation and let's be honest you and I would not want to be in their shoes right now.

Aug 6, 2020 - 6:10pm

Nothing wrong with ranting, doesn't mean someone is not cut out for it

Array
  • 2
Aug 6, 2020 - 6:20pm

I agree, but I definitely understand the need for kids to vent. A lot of us have worked incredibly hard just for a shot, so it fucking stings when the rug is pulled from beneath our feet. Can't blame people for voicing that. It's a shit show for a lot of people out there.
That being said, everybody is 'supposed' to get a return offer, but at the end of the day, we're in a volatile industry. It pays well, but we get shit on when shit goes south. Nobody owes you shit, and you need to go into the professional world with that embedded in your head.

  • Analyst 1 in IB - Gen
Aug 6, 2020 - 7:36pm

Agree with your takes toward the end. At the end of the day, most jobs outside of IB are this "ruthless" for the average person. The current climate due to Covid isn't ideal but I lean more towards the "suck it up its life" side because it really is. Be thankful you've got the experience and name on your resume and keep grinding. There's plenty of qualified kids that don't even have that right now.

Aug 6, 2020 - 9:13pm
Analyst 1 in IB - Gen:

Agree with your takes toward the end. At the end of the day, most jobs outside of IB are this "ruthless" for the average person. The current climate due to Covid isn't ideal but I lean more towards the "suck it up its life" side because it really is. Be thankful you've got the experience and name on your resume and keep grinding. There's plenty of qualified kids that don't even have that right now.


Nailed it!
  • Prospect in Other
Aug 6, 2020 - 10:58pm

I generally don't comment on these things but I disagree to an extent. I definitely agree with the whole idea of the world doesn't owe you shit but I sympathize with them from the perspective of a non-target. These kids have to bust their ass networking 24/7 to get two or three interviews (maybe four-five if they are lucky). Getting that SA offer and thinking they finally made it and can take a breather only to be slammed back down by a firm who doesn't give two shits about them is a big let down. They gotta go through all of it again only for FT (which IMO is 2x as hard to recruit for). That has to be insanely depressing. Just my 2 cents here, I agree that this industry is ruthless but still, imagine being a non-target kid and being in this situation. That's fucked up. For context, yes I am a non-target kid, no I am not intern yet, but I have buddies in this situation.

  • Intern in IB - Gen
Aug 7, 2020 - 12:56am

Not getting a return offer isn't a big deal for who? Those that already have back up plans like extending graduation or going straight to grad school?

Or were you talking about not getting a return with Jefferies being a good thing lol?

Aug 7, 2020 - 12:46am

I do feel sorry for the interns who have been screwed over and feel this forum is a totally legitimate place to have a pity party. But anyone who landed an SA gig is very smart, hard working, focused and ambitious so in the grand scheme of things will probably have a good career. I am applying for SA 2021 and if I am lucky enough to land more than one offer the firms that cancelled internships and burned summer interns will go to the bottom of the pile. Likewise I won't hesitate to accept exploding offers from them, still recruit hard and renege if I get an offer from a safer bank. It's not about punishing those ruthless banks it's about self preservation, applicants who are lot more talented than I am will do the same.

Aug 7, 2020 - 1:16am
Analyst 1 in IB - Ind:

Sounds like you're a mouth breather. Pretty evident you don't know fuck all about anything, there is literally zero saying who is good and who is bad after 4 weeks. This is especially true for liberal arts kid where the learning curve is slightly higher.


What on earth are you on about
  • Investment Analyst in PE - Other
Aug 7, 2020 - 7:43am

None of these interns who aren't getting returns were "screwed over". They weren't good enough, period full stop.

Stop throwing them a pity party and get over yourselves.

But also you have the right mentality. You are nothing more than a number on a spreadsheet to your employer so best to treat them as nothing more than a paycheck every other week. Do what's in your best self interest.

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