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How long it takes to hear back from Internship

Was wondering how long banks usually take to confirm graduate offers.

Also, what's the procedure? Will there be any more interviews?

I know UBS gives offers the day interns finish- is this common?

Reply 1

babafagucci

Yes the most common way is that you get your offer/rejection in your final review meeting, which is normally held some time in the last week.

Reply 2

Pretence

Original post by jewelz

Was wondering how long banks usually take to confirm graduate offers.

Also, what's the procedure? Will there be any more interviews?

I know UBS gives offers the day interns finish- is this common?

ubs give offers like a few days b4 the internship ends.

Reply 3

Prince of Zamunda

Most banks will have the final meetings in the last few days to let you know (usually on the last day). Some let you know a few weeks after.

Reply 4

DeeDub

At BarCap you have a final appraisal in the last week which gives you a pretty good idea. However you don't find out for certain until the last day when they have an offer meeting. My colleagues did not know prior to this.

Reply 5

Nimiza

MS makes you wait 2 weeks. GS don't have a set date: some get the offers straight away, some get it in a few weeks, some get it in a few months after the desk interviewed other people and decided they would stick with the intern.

Reply 6

Zweihander

Citi IBD let you know 2 weeks after you finish your internship. Seems to be the standard.

Reply 7

elva2sam

Original post by DeeDub

Even your colleagues don't know if you got a return offer? Does that mean HRs' view is rather important when making offer decision?

(edited 12 years ago)

Reply 8

elva2sam

Original post by Zweihander

Citi IBD let you know 2 weeks after you finish your internship. Seems to be the standard.

Hi Zweihander,

Did you do an internship with Citi IBD last summer?
Do you know what's the decision process? From what I know, they don't have presentation or that kind of thing, so I guess it's all depends on your manager or colleagues' view?

Reply 9

DeeDub

Original post by elva2sam

Even your colleagues don't know if you got a return offer? Does that mean HRs' view is rather important when making offer decision?

It depends on your department. For instance i know for some people in S&T your desk will give feedback to HR who will put this together with what they know about you and decide whether you make the grad 'pool', but then you have to find a desk that will take you which may or may not be the desk you interned on. So people were accepted by HR in September but had to go back to spend a week interning on a desk in October in order to secure an offer from that desk.

Other areas such as IBD probably operate differently. Your colleagues have a pretty good idea but they aren't told for sure before you are. From what I remember my first year's salary is paid for out of HR's budget not out of my department's hence why HR gets final say. I know someone who was told by an IBD MD that he could have another summer internship in a years time (2011) in IBD and HR said that they could not do this as all candidates had to go through the application process (which is fair enough tbh) and fast-tracked him to the first AC. I think networking your way into a role is becoming more and more difficult especially in the banks which are part of global banking groups which have strict recruitment structures. The only person I know to have got themselves a grad job by networking is the daughter of a regional CEO of one the top 10 or so banking groups and even she had to go through the HR hoops.

(edited 12 years ago)

Reply 10

cookiedough101

I'm glad this thread is up and running.

How many days after the final offer are you meant to accept/decline the offer? Say an intern gets his/her offer on the final day of the internship... Is it the usual 10-14 days or slightly longer?

Reply 11

100

Original post by Zweihander

Citi IBD let you know 2 weeks after you finish your internship. Seems to be the standard.

Last summer, Citi interns were told before they finished (in some cases not even the last day).

Reply 12

Zweihander

Original post by 100

Last summer, Citi interns were told before they finished (in some cases not even the last day).

Dont know what it was like for other divisions but IBD were told 2 weeks after they finished.

Reply 13

100

Original post by Zweihander

Dont know what it was like for other divisions but IBD were told 2 weeks after they finished.

That's because there were two start dates (and two finishing dates). People were told during the last week of the 2nd intake.

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