No B4 offer? Help on next steps needed

Question

I recently just completed my internship at a B4 transaction advisory group in NYC. I worked in a small group (>100) with a low offer rate (something I wished I had known prior) and am now scrambling. I intended to recruit to the other B4 but am concerned that my lack of an offer will have people look down on me. It doesn’t help that I’m at a non-target. I was told my performance was solid and it was a “fit thing”. Any advice is greatly appreciated.

Answer 1

Hi There,

Sorry to hear that you did not get a return offer. There are a couple of things that you can do that could help:

1. It is actually fairly common to not get asked about getting a return offer. When I went through recruiting I never got asked so there is always the potential that you won't have to have that conversation. I am not sure how much you asked about the lack of return offer, but I would try to get some more specifics on what "fit" areas were different from what they were looking for. Depending on that, you can always use it as a way to leverage how a different firm you are recruiting at is a better culture fit.

2. I would recommend trying to broaden your scope a bit. Are you opening to working outside of transaction advisory? This would open up more potential firms you could apply to in the advisory/consulting space. This would help your chances of getting a desirable role.

3. I would start networking at the other Big 4 firms sooner than later. Especially with networking with individuals whose groups you are interested in recruiting for. The sooner you get your name out there the more it will help you if you are coming from a Non-Target School.

Hope this helps! Happy to chat as well!

-Ankit A

Answer 2

Hi there,

Not getting a return offer happens more often than you think, especially in groups with low conversion rates — it’s not a reflection of your ability. Other firms will understand that context, and if your performance feedback was solid, you can confidently frame it as a matter of fit and limited spots. When applying to other Big 4 or elsewhere, emphasize the skills you built and the positive feedback you received. Also, broaden your recruiting to Tier 2 consulting or corporate strategy roles to maximize options.

Happy to help you – feel free to reach out if you need further advice.

Best,

Evelina

Answer 3

Sorry to hear.

Well there's nothing that you can do but continue applying.

Will people look down on you because you didn't get an offer? Unlikely. But even if they do, can you do something about it? Does it matter? No.

So what you need is a broad application strategy and a confidence bump.

You might find the following guide useful:

Expert Guide: Build A Winning Application Strategy

Best,
Cristian

Answer 4

Hey there :)

Not getting an offer from a Big 4 internship happens more often than people think, especially in small groups where return rates are low. Other firms generally won’t hold it against you as long as you position it right. Since you got positive feedback on performance, frame it as: you gained great experience, enjoyed the work, but the group had limited spots. That way, it doesn’t look like a performance issue.

For next steps, definitely apply broadly, other Big 4 groups, Tier 2 consultancies, and boutiques. Networking becomes extra important, especially coming from a non-target. Reach out to people in the teams you want to join, share your story, and show motivation. The skills you built in transactions (financial analysis, due diligence, etc.) are directly relevant to consulting and finance roles.

So don’t worry, lack of an offer doesn’t close doors, you just need to be proactive in reframing it and building connections.

best,
Alessa :)