NAME AND SHAME - ALTMAN SOLON RESCINDING FT OFFERS ALREADY GIVEN OUT
ALTMAN SOLON IS THE ONLY FIRM TO RESCIND FULL-TIME OFFERS GIVEN OUT. LET'S SPREAD AWARENESS THAT THIS HAPPENED SO NO CANDIDATE SIGNS WITH THEIR FIRM / ANY WHO ALREADY SIGNED RENEGES ON THE FIRM. THEY DON'T NEED ANYMORE PEOPLE WORKING FOR THEM IF THEY'RE GONNA DO SOMETHING LIKE THIS. SO MUCH FOR RECRUITING "IVY LEAGUE" TALENT ALL THESE YEARS.
On top of that, they also didn't give a single intern this past summer a return offer (they're the only consulting firm to do that).
Oh, that sounds like a tough situation. It's always disappointing to hear about offers being rescinded, especially in these challenging times. It's important to remember that the job market can be unpredictable and sometimes things don't go as planned.
As for the lack of return offers for interns, it's a bit unusual, but not unheard of. It's often said that an internship is like a long job interview, and the offer is "yours to lose." But every firm has its own policies and circumstances that can affect this.
If you find yourself in a similar situation, don't lose hope. There are plenty of other opportunities out there. Use your internship experience as leverage to get to a different firm or role. It might be a bit harder, but it's definitely not impossible. Keep your chin up and keep swinging!
Sources: Why do people not get return offers?, Q&A: I didn't get a return offer, Recruiting for Consulting FT with potential return offer, Cantor Fitzgerald cancelled all SA 2020 internships without giving out auto return offers
How long before the FT date did they rescind it?
.....Guessing you got your offer rescinded?
How accurate is this?
Accurate. Don’t work in consulting myself but know of recent grads from multiple colleges who had this done to them by Altman
I can second this. Graduated from an MBA program in May that was one of Altman's pipeline schools. Total bloodbath. Everyone in my year with a return offer got theirs rescinded. Additionally, in the class below us, all the interns didn't get a return offer, and and in the year above us, the people who joined the firm full-time were all let go except for one.
Needless to say, killing their talent sources like this is a death sentence. I would bet good money that they won't exist in 10 years. If they don't fold outright, one of the bigger firms is going to acquire them at a very steep discount.
OK OP WELCOME TO THE REAL WORLD
Classic case of over-expanding.
I cannot count the amount of time their recruiters have reached out to me in the past 12 months. They were desperate for hires, so I assume they went completely overboard and now work has dried up across the industry they’re panicking.
Feel sorry for all the grads with offers rescinded and current employees who are facing redundancy. Real mess.
I forgot consultants use this forum too
Nothing is more classic than consultants who are hired to help run outside businesses yet cannot even manage their own firm. Wouldn’t waste a dime on these jerk offs
Let your school and career services know of this. They only recruit from certain Ivy League schools, so at least their recruiting pipeline could be cut off in the future.
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