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Yahoo
2 hours ago
- Yahoo
Wall Street internship season is ending. What to do if you don't get a return offer.
The summer is nearly over, and full-time job offers could start rolling out as soon as next week. Not every intern will get picked. What do you do if you don't get invited back? A banking recruiter and a top 10 business school professor on how to recover and stay in the game. Summer internships on Wall Street are coming to a close, which means college students who toiled late at the desk for weeks trying to impress the boss will soon know whether it worked. The number of investment banking interns who are invited to return after graduation to work full-time varies by year, by bank, and by group. This summer, many factors stand to shake up the return-offer rate: M&A has come soaring back after a slow start to 2025. At the same time, more banks are rolling out artificial intelligence tools that stand to impact junior banker jobs. "At this point it's too early to tell," said Steve Sibley, a business school professor whose undergrads intern on Wall Street each year. "I haven't heard from a lot of students, which is usually a sign they're not worried." With return offers right around the corner (summer analysts from two different banks told Business Insider that they expect to get the news as soon as next week), we decided to find out how to proceed if you don't get invited back. We asked Sibley, who has taught hundreds of students who have successfully broken into Wall Street over his 10 years of teaching at Indiana University's Kelley School of Business, along with Wall Street banking recruiter Meredith Dennes. They said that while a return offer is the surest path to a career in finance, not getting one doesn't necessarily mean your Wall Street dreams are over. You just have to act quickly and decisively. Here is their advice: Be honest with yourself The first step is to think about your strengths and weaknesses, and what others might have done to get an offer that you didn't. "Before making your next move, you need diagnostic clarity," said Dennes, founder of recruitment firm Prospect Rock Partners. "Your comeback strategy depends entirely on accurate self-assessment." Sibley said there tend to be three main reasons someone didn't get an offer: Your work product was off. "A lot of times interns will overextend themselves and try to be everything to everybody," he said, adding: "If someone asks you to do something and you don't have bandwidth but you say yes and your work is late as a result, that's problematic." The bank didn't see you as a cultural fit. If your bank has a "work hard, play hard" vibe and you prefer to spend what little free time you have relaxing in front of the TV, not getting the return offer at that firm is probably for the better, said Sibley. The bank may need fewer analysts than expected. Banks tend to hire interns two years in advance, which can lead to overhiring. Different divisions have different activity levels in any given year. M&A activity in your coverage group or at the bank generally may be lower than anticipated. Not getting a return offer can be a blessing in disguise, said Sibley. "It may feel like a rejection, but maybe it's an indication that investment banking isn't for you, so be open with yourself about that." Start networking, fast If you still want to pursue investment banking, you have options. The first is to find a spot at another firm as quickly as possible. Interns usually have about two weeks to accept or decline their offers, opening the door to job opportunities at firms that underhired or got more declines than planned. But you have to act fast. "Any additional seats come available very quickly and get filled quickly," said Sibley. To do that means reconnecting with the contacts you made when you were recruiting for your internship. "These relationships, properly maintained, often become your strongest advocates for future opportunities," Dennes said. This is key because when only one or two spots open, the bank will often try to fill them without an official job posting. The only way to know is through connections. Don't be picky, Sibley said — casting too narrow a net might leave you with nothing. "You probably aren't moving up the league table for your full time position," he said, adding: "So look down, maybe middle market, maybe it's less elite boutique banks — anything where you're learning skills for the job." Take responsibility When networking and talking with other potential employers, you will have to address why it didn't work out at the other firm. Dennes and Sibley said to own it — blaming anything other than yourself is a big red flag to other potential employers. "When addressing the no-offer in future interviews, lead with accountability and growth," said Dennes. "Show them you extracted value from the experience and applied those lessons systematically." Maybe you said yes to everybody, and your work suffered. Here's how Sibley suggested you might explain what happened and what you learned from it: I tried to accept every work stream that was sent my way, and as an intern, didn't have the courage to say I had enough on my plate and couldn't take on anything else. I learned there are things that are important and things that are urgent. I learned the importance of prioritizing certain things over others, and pushing back if my plate is overflowing. Pursue deal-adjacent jobs If you want to do M&A but don't get an investment banking job, there are adjacent careers where you can gain similar skills and make the move to banking down the line. You just want "anything where you are touching deals or deal advisory," said Sibley. Consider roles in corporate development at Fortune 500 companies, which will offer deals and modeling experience. Large consulting firms like Deloitte and KPMG also tend to have corporate finance teams that operate as investment banking arms of their firm. There are also business management consulting firms that specialize in things like restructuring and turnarounds. You should also consider valuation advisory teams or businesses. Some banks, for example, have valuation advisory practices that are separate from their investment bank but that work with the investment banking coverage groups. Consider a master's degree You could also buy yourself another year of recruiting by enrolling in a master's finance program (different from an MBA, which you could still do later). "It's a way to extend the runway," said Sibley, who is associate chair of IU's master of science in finance program. He said he has had students go this route at IU and land a job before. There are a lot of these one-year specialized programs at various universities today. Going to a different school than where you did undergrad is probably better, he said, so you can take advantage of a second alumni network. "It's easier to find a job from school than from your parents' basement," said Sibley. Read the original article on Business Insider
Yahoo
2 hours ago
- Yahoo
Newmont (NEM) Secures Akyem Lease Ratification With US$770 Million Divestiture Proceeds
Newmont recently announced that the Ghanaian Parliament ratified the renewal of the Akyem East Mining Lease, with Zijin Mining Group paying $100 million as part of Newmont's divestiture program expected to generate $3.1 billion this year. This financial boost aligns with the company's capital priorities of debt reduction and shareholder returns. Over the last quarter, Newmont's share price experienced a 21% increase. Despite market volatility influenced by tariffs and weak jobs data, Newmont's decisive divestiture strategy and substantial after-tax proceeds may have bolstered its share price gains, contrasting broader market declines. Every company has risks, and we've spotted 2 weaknesses for Newmont (of which 1 is a bit concerning!) you should know about. These 18 companies survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. Discover why before your portfolio feels the trade war pinch. The recent approval of Newmont's Akyem East Mining Lease renewal and the substantial capital injection from its asset divestiture program should reinforce the company's commitment to capital priorities such as debt reduction and enhancing shareholder returns. Over a three-year period, Newmont's total return, which includes share price appreciation and dividends, was 54.49%. This reflects steady long-term growth, despite being more impressive in the recent quarter with a 21% increase. Over the past year, Newmont's performance outpaced both the US Metals and Mining industry, which returned 13.4%, and the broader US market, which returned 17.7%. The divestiture proceeds of US$3.1 billion may bolster Newmont's revenue and earnings trajectory, feeding into ongoing portfolio optimization and potentially elevating operational efficiency. Analysts anticipate revenue growth of 2.7% annually, supported by high-margin projects and strategic asset focus. However, forecasts indicate a decline in earnings of 2.6% per year over the next three years, suggesting closer attention to cost management and project execution risks may be warranted. With the share price at US$62.59, it's trading at a 12.42% discount to the analyst consensus price target of US$70.36, indicating potential room for growth if management successfully mitigates operational challenges and leverages the favorable economic factors continuing to support gold prices. Understand Newmont's track record by examining our performance history report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NEM. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
3 hours ago
- Yahoo
Prediction: check out the eye-popping NatWest share price and dividend forecast
The NatWest Group (LSE: NWG) share price has had a stellar run. Given the misery inflicted on investors in the 15 years after the financial crisis, its return to form is frankly eye-popping. Shares in the FTSE 100 bank are up 43% over the last 12 months. Over five years, they've grown a fabulous 363%. Investors have pocketed dividends too, with a trailing yield of 4.13%. That figure actually underrates the generosity, since the yield has been squeezed by the share price growth. Profits, guidance and buybacks So what's driving this? NatWest has been helped by solid earnings, the sale of the government's final stake and a broadly supportive environment. Other high street banks have enjoyed a strong run too. In May, the government finally sold the last of its stake in the bank, ending one of the most expensive bailouts in UK corporate history. That's made for a clearer future. On 25 July, NatWest posted better-than-expected interim results and threw in a new £750m share buyback. Pre-tax operating profits rose 18% to £3.6bn for the half-year, comfortably ahead of expectations. The dividend was raised a mighty 58% to 9.5p. It also bumped up guidance. Return on tangible equity is now forecast to hit 16.5%, with full-year income above £16bn. That's up from earlier guidance of £15.2bn to £15.7bn. The bank's structural hedge is also playing its part. With low-yielding assets being reinvested at 3.7%, it's expected to deliver £1bn of income this year alone. Risks and realism Despite the recent surge, there are risks. NatWest shares dipped slightly after the results as Shore Capital warned on 28 July that strong recent returns will be hard to sustain. The UK economy is proving sticky, house prices aren't exactly booming and profit margins on mortgages are being squeezed. If the Bank of England cuts interest rates later this year, margins could be squeezed too. And the government is coming under pressure to hit banks with fresh taxes in the autumn Budget. Growth and income forecast With the stock trading around 521.4p, analysts have a median 12-month price target of 588.8p. That's a potential rise of nearly 15%. Pretty good given the strong recent run. The dividend forecast is just as interesting. The projected yield for this year is 5.76%. Add that to a possible share price gain, and total returns could be north of 20%. The yield is forecast to hit 6.46% next year. So is NatWest expensive as a result? No. The current price-to-earnings ratio is just 10.04, with a forecast P/E of 8.7. The price-to-book ratio has risen to around 0.96, from about 0.6 last year. It's no longer a bargain-bin share, but still not overpriced either. Of the 20 analysts covering the stock, 15 rate it a Buy and five say Hold. No sellers. I'm always cautious about chasing a share after a strong run. But given the outlook, I think NatWest is worth considering today. If the market wobbles in August, as many suspect it might, it could become even more tempting. The post Prediction: check out the eye-popping NatWest share price and dividend forecast appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Harvey Jones has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
