GPA dropped below cutoff after accepting offer help!
Hi everyone, please help me figure this out, essentially should I be worried or not?
I am currently a Junior and will be a Senior after this summer. Last fall my GPA was a 3.5 which is what I had on my resume when I applied for my summer internship. I accepted a summer analyst position with a respectable MM shop and will start this summer.
The GPA to apply was stated on the application as "requirements: minimum cumulative GPA of 3.3" after the fall semester my GPA dropped from a 3.5 to a 3.297 --- not sure what it will be after this current semester. Also, for the FullTime job posting on their website it has the same 3.3 cutoff to apply.
What will happen to me? Assuming I work extremely hard this summer, will I be able to get a FT return offer even though my GPA will be below the 3.3 cutoff mentioned on the online application?
P.S. I read the entire offer letter for this summer (summer 2k18) and there is nothing in it about GPA but I have not gone through the background check yet I'm sure they will ask for transcript but I have no idea? What will happen?
They will not ask for your transcripts again until you graduate. Focus on getting a return and stop BSing in school.
But they haven't asked for my transcripts yet at all even for this summer internship. So what will happen when they see? Can I still get a return offer if my GPA is a 3.2 instead of their 3.3 cutoff to apply for the FT spot?
Read the “easy A” thread.
GPA cut-offs usually relate to the application process (i.e., if your GPA is below the threshold, your application won’t be considered). Since you’ve already been offered the internship, I don’t think they’d rescind it or notch you from the possibility of a FT offer simply because your GPA dropped below that initial threshold. No reason to worry about it; just keep working hard and keep your head up.
A lot of banks will put a minimum requirement in your contract offer where your FT position is contingent on graduating with a GPA above a certain level. I frankly don't know whether these things are really enforced, at the BB I worked at (and that was a few years ago, but I doubt things are change that much), we would get a third party to conduct the background check and while we definitely did get them to confirm that the GPA / transcripts that we're submitted with the application, but we didn't know what the applicant current GPA was so there was no way of knowing whether they had fallen below the threshold. I think in any case, the general feeling was that is was expected that after seeing what working life would be like and securing a FT offer, you would be more inclined to spend time doing fun stuff and your GPA would fall to some extent. Obviously, I am talking more about going from 3.8 to 3.6 than a complete collapse.
To the OP, I wouldn't worry about your situation too much, but you need to do a bit better senior year. GPA still get used as filter for buy-side recruiting and applying to a top school with a 3.3 would probably handicap you all else being equal.
I'm in a similar situation, so basically it doesn't matter? When they conduct background check can I send in a transcript from last semester when my GPA was higher before it dropped or do I need to submit a current transcript? I know it sounds dumb but I'm also worried I may be in jeopardy when it comes to getting a FT offer. I was just really busy with recruiting/work/research and my GPA dropped slightly below my firm's "cutoff" or whatever
Easy - round up to 3.3
GPA and FT offers (Originally Posted: 05/08/2009)
For those who have some internship/banking experience: How much does one's GPA matter in getting an FT offer given that one has an SA position? As in, has anyone heard of/experienced banks saying, "Well, your GPA is too low, so we cannot offer you the FT.", or maybe even, "We know we offered you the FT last summer, but given that your GPA has dropped since then, we have to rescind."?
When transitioning from SA to FT, I think you just have to satisfy degree requirements with a 3.0/3.3 or better.
If you receive a FT offer as a SA, the only requirement is that you maintain a 3.0 or higher (generally speaking) and don't do anything titanically stupid. The requirements will be spelled out clearly if you receive the FT offer.
The biggest GPA hurdle is getting the SA position.
Not even 3.0 -- just that you "graduate in good standing" for my firm. At my school, you needed 2.0 to graduate in good standing.
My GPA fell .4 my senior year and my bank didn't care, not even a little bit.
they gave the offer not because of gpa but because they felt you would add value to the team. period. I said it my senior year running my victory lap and I say it again ... Let that sucker drop!!!
it feels good to go from being a A- to a B- student senior year, don't waste the opportunity to be drunk every night.
I LOL'd when I read that.
But seriously, thanks for the input, peeps. Guess I had better not get convicted for dealing narcotics my senior year. ;-)
While it is all good and fun to party like an animal senior year, dont let your gpa goto sh*t. you'll regret it when applying for B-school (try explaining a huge drop) or if your offer is, for some reason, rescinded and you'll be looking for another job. [/dad mode]
lol @ these myopic mawfawkas. If your GPA goes from, say, a 3.5 to a 2.8 you might be in the clear with your FT offer, but how do you think that'll look when you're applying to HBS and Wharton in 3-4 years? A low GPA WILL hurt you, regardless of whether or not you have the job in hand.
You will regret letting your GPA slip your senior year. Remember, i-banking is a two year job, then you're out on the market again. Your next employer, your business school employer, and your employer after that will all take your GPA into consideration. Don't ruin an advantage you spent years building.
~~~~~~~~~~~ CompBanker
Offer from BB, old GPA? (Originally Posted: 02/05/2016)
Hey guys,
So I recently got an offer for a summer internship from a bulge bracket in investment banking. When I first applied, I submitted a copy of my resume with my old Major GPA (note: Major GPA, not Cumulative), which was 3.7. Since some traumatic events happened my sophomore year, it's since fallen to about 3.3. I immediately noticed my mistake, and sent a separate email to the recruiting email for the firm with my updated GPA and cover letter, apologizing for my mistake. I got an email some time later (before my first interview) saying that they had received my email and would forward it to the correct department. I assumed that the resume had been fixed.
However, I had a recent superday where I looked over the table and saw that the resume my interviewers were referring to was my old resume, with my 3.7 GPA. No one asked me about my GPA, or to give my cumulative, etc. I was too scared to point this out during the interview. I got an offer later that day.
What should I do? I think that the ethical thing to do is to email the recruiter in HR, explaining my situation, apologize profusely, and say that I tried my best to remedy it (by emailing recruiting), which clearly shows that I wasn't trying to con anyone (and I swear on my life I wasn't -- this was one of my first resume drops, and I fucked it up, and every other position since then I've used the correct GPA). Should I do that, or should I sit tight and hope I don't get called out? Will I get my offer rescinded?
If you have a copy of the email you sent to them the first time you should be fine. Raising the question again is shooting yourself in the foot.
I do have a copy of the email, with date and resume and everything pointing to how I sent it basically the day the first app was due. So are you saying I should sit, and if they call me out, I can explain?
If they somehow didn't see the email and it comes to showing them your transcript when you go to start then it is going to be a much bigger problem.
The only reason you think this is an issue is because you saw across the table that your interviewer had a copy of your old resume. Just pretend you hadn't seen that and that you were under the assumption your interviewer had your new resume (as he should have). When they compare transcript to stated GPA at internship start, you can then point to the email you sent and resolve yourself of any liability
This. That email will save you from any problems. Just act like nothing has happened for now, any mistake they made is on them at this point.
How the hell did you drop 0.4 GPA in one semester?
Thanks guys for the advice. I still feel terrible but I guess that email does absolve me of liability. And as for my grades, it was more over a year than a semester, but sufficed to say shit was going down in my personal/family life and it pushed me off course for a while. Should have gotten help and maybe taken a semester off... but in any case.
Potential Offers.. Low GPA right now (Originally Posted: 12/05/2012)
Hi All,
I am a Junior who attends an Ivy-League school. I have an accelerated interview process because I will be studying abroad next semester. I have interviewed with two firms already.
Because of recruitment and networking, I have a sub-standard GPA this semester. I'm projecting a 2.8-3.1 GPA for this semester (most likely to be a 2.8-3.0). If I get an offer for S&T at a BB, will the bank rescind my offer after seeing my GPA for the semester?
Thanks for your advice
potentially, really depends on how HR takes it
Not if your cumulative exceeds 3.5
What was your listed GPA? And what will the final GPA be after including this semester's GPA?
I doubt it... Don't think they are going to recheck your transcripts and if they have already given you and offer I think it would take more than that (i.e. just don't get arrested) to have it rescinded
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