Internship decision

Question

Hi everyone,

I recently turned down an off-cycle internship position (6 months, no chance of full time offer) at a PE firm in London due to the fact I have a full time offer in Corporate Banking at a large Scandinavian bank in my home country. I initially turned it down due to the job security but feel like this is an opportunity I'm missing out on. Thus, I'm kind of regretting the decision and considering reaching out to the PE firm again. What do you think I should do?

A little background info: I would very much like to work within private equity and leveraged finance going forward but wasn't able to secure an offer within these fields in my home country.

Thanks.

Answer 1

Not sure what you lose by doing so. Do you see any negatives? I don't. Of course, you'll need to swallow your pride a bit, as this is an awkward situation, but at the same time, you have nothing to lose from this.

Answer 2

It seems like a big gamble in an economic environment like this. If you voluntarily leave your current full-time job to do an internship, you risk being unemployed afterwards. Not sure if this internship will boost your credentials so much that it needs to be your only entry point into the field you want to go into.

Given the circumstance that you already declined the internship and would now have to go back to the company “begging”, I would honestly just keep looking for full-time opportunities in the future - while you gain more experience in your current role in the meantime.

Best of luck

Answer 3

Hi there,

So, if you are sure about this (you have to be 100% sure), then you can simply reach out to them!

Ask them if they could have a call/videoconferencing meetup.

Prepare for the call to pitch your case and make sure you have really strong reasons (especially, emphasize how much you want to work there and that you have thought long and hard about the decision).

There is no downside here to reaching out and trying.

Good luck to you!

Answer 4

Hi there,

Q: I'm kind of regretting the decision and considering reaching out to the PE firm again. What do you think I should do?

In terms of the choice between the PE firm and Corporate Banking, I would look at your long-term goal. If you believe the reputation of the PE firm is strong enough to help you to secure a role in the industry after the internship, it could be a suitable option.

In terms of reaching out, you can definitely contact HR – there is no downside. Worst case, they will say no.

To increase your chances, I would:

Explain you believe it was a mistake to reject the offer
Present the aspects you didn’t consider initially that would make that company an ideal choice for you
Restate the benefits you could bring to the company to create a win-win situation

Good luck!

Francesco

Answer 5

Hi there,

First of all, congrats and you should be happy that you are even in the position of choosing. Most candidates don't have this luxury :)

To be fair, if you already rejected the offer, it's unlikely that you can turn to it. You can still try, but it might not work.

Job security actually matters a lot in the current market situation. These 6 months might sound cool, but you will have to reapply once again when they are over and this is just not an amazing time to be looking for a job.

If I were you, I'd take a long walk and think of the pros and cons of each option. If it turns out you still prefer the London PE, then give it a shot and try reaching out to them once again.

Best,
Cristian

Answer 6

Hello,

If you're certain that turning down the PE internship was a mistake and would definitely like the opportunity to work at that firm again, I recommend reaching out the HR/recruiter and having a conversation with them about your situation. Prepare a clear explanation for your case, what made you change your mind, and so on. They might just suggest that you should apply in the next cycle, but I think there's no harm in trying to initiate a conversation, explaining your position, and seeing what they recommend. Best of luck!