You don't even have to work all that hard to get that from the Companions. Fetch this, do that, clean my room, BAM! You're in the almighty "Circle" and suddenly you're as respected as anyone that's been there for a decade.
The Thieves guild does a better job of making Nightingales feel awesome. It takes forever to actually happen, as it only happens near the end of the questline; they're properly kept secret from the rest of the organization, who think Nightingales are only myths (the same as the Circle keeps their lycanthropy a secret); and the Nightingales actually have business with the Deadric prince who gave them their gift. I could write a more interesting storyline in my sleep than what the Companions have.
If we're trying to be fair to them, however: the Silver Hand caught the PC in a trap and Farkas off guard, who had no choice but to transform. Being that the PC found out before his appointed time, they raised him/her into the Circle.
Still crap, if you ask me.