No Return Offer - Now What?

Hi everyone. I am looking for some advice from people who have been in the same situation. 


I’m about to graduate a Russell group London uni and last summer (2022) I interned at a US BB in S&T in London. But as it happens I didn’t get the return (a mix between headcount constraints and not vibing with the people on some of my rotations). About 40% of my class converted and before the M&A guys gasp, a less than 50% conversion in S&T summers is not uncommon in most banks, sadly.
 

Anyway, after this happened I applied to all grad roles and even summers again for banks but could not secure anything. So instead I locked a long-term internship (aka more than 6 months) at a large but less reputable European bank in London, still in Global Markets / S&T. 


I am already hearing that my team may have to cut its budget and so headcount could again become an issue once my internship ends in March 2024. Basically, I need to secure a FT Analyst role because masters is hardly an option (can’t afford it). I am applying to whatever comes up while I’m interning but radio silence so far…considering most firms recruit from their summer intakes I have little hope. 


The mood is not great, I’ve been starting to consider even other career options like Wealth Management and even Law as law conversion courses tend to be cheaper and still have a shot at training contracts as a grad. I’m pretty good at anything qualitative and text-related too. 


In a nutshell, it’s a sh*t show, at this point I just want to have a full time role anywhere that can pay enough to build a life in London (I’m not from the UK). This is a huge source of anxiety. The idea of being an intern until my upper mid twenties scares me (I’ve seen it with my eyes) I don’t know how I can hack the game now that I’m off the traditional track. Anyone who can help? 

 

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