I'm calling BS.
The idea of a "consolation prize"? That's bullshit.
I'm working my way through the interviewing process these days, and it can be kind of exhausting. I have yet to hear anything back from the interview I went on last week, but I have decided something: I'm celebrating either way. Either I will celebrate because I've gotten the job (paneer tikka masala! a nicer bottle of wine than usual! PINK HAIR!) or I will celebrate because I tried my hardest and had some valuable interview practice (paneer tikka masala! a nicer bottle of wine than usual!). I will not issue a consolation prize. I will not need a consolation prize. I will not need consolation, dammit.
Because I will be proud of what I have done, whether that has resulted in a job or not.