Sign Chicago or Continue recruiting
Current sophomore who has an exploding offer at a top Chicago bank should I accept the offer or wait to see if I can get a new york offer.
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All depends. Where do you want to live? If you’re willing to accept trade-offs, then sign. If not, let the shit explode.
If you got it for WB then I would sign it. However, would take some more time to consider if other names. At the end of the day, you need to consider your ultimate career goals. If you’re certain you’re gone after 2 years and want the best shot at the best PE/HF shop possible, then wait it out for the top BBs and EBs. If those factors don’t matter as much or if you’re fine with more UMM leaning exits or corp dev roles, then you’ll be fine in Chicago. Culture will be drastically different as Chicago is not really a “finance” town. For someone who’s on the more casual side, you may like it more. If you’re suit and tie even on fridays kinda of a guy, def New York.
Was in somewhat of a similar position last summer and was interviewing at a top Chicago bank. In my head, I knew that if I got the offer, I would definitely sign it immediately. In the end, I ended up not getting the offer but did get a better NY offer a month later. I guess it depends on how strong your connections are at other banks. If this was WB/Baird, I'd probably only not sign if I had a strong network at probably at least 3 better banks. Like the person above said, your goals matter too. If you want career IB, then it's less worth the risk. If you want MF PE, it's more worth the risk.
Personally, I can see myself transferring to my bank's Chicago office if I decide to pursue career IB and approach my 30s. Much more cost friendly. Doesn't have the same 'energy' as New York though. Not sure if that's something I'll still value in a decade.
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