Using my FTO from Moelis as a leverage for better banks?

What?

How do you get a Moelis offer as a gift?

Why would you want to leave Moelis?

Dude you’re given a full time offer from a top tier boutique that most people on this site would take in a heartbeat. The firm is giving you the benefit of the doubt by extending you an offer without having seen you work yet. Just take it and run.

Congrats.

GS/JPM/MS (and all other banks) already know you got the offer as a gift. We will likely assume you are shopping the offer you got. The way the interviewer will approach and think of the situation is case by case. Regardless, you need a really good answer to (i) what did you actually do in 4 weeks as a summer analyst? and (ii) Why are you trying to move?

Definitely a troll lol

Don’t know why you’re getting backlash for asking this. Historically, lateral hiring happened at the end of the summer and you are correct that having received an offer is a prerequisite to make a move. An “unearned” offer is unprecedented so no one can say how banks will view it. My advice would be to focus on crushing the modeling tests, etc. that Moelis gives and be able to speak to high performance on those.

All that said, lateraling is typically a function of a bank needing to expand their class. The likelihood of that seems slim given the current circumstances.

I'm dumbfounded. This is why we need to have proper summer internships instead of giving out FT offers.

I'd rather work at Moelis than GS/JPM/MS, especially given the ability to do RX. Like other people have said, you didn't necessarily earn your offer, it was just given, and so I think a lot depends on other banks. If everyone does the same thing, then you'll be at an equal level, but if most banks don't cancel then you'll be inexperienced competing with people who did a full internship

This is why they can give FT offers to everyone..they know that a number of idiots will jump ship or get caught trying

Doesn't this offer have an expiration date? Pretty sure that most places won't be looking to hire FT laterals until late summer at best, given that internships at both JPM and GS now start on July 6.

I understand the sudden urge to take what you've been given here and use it to your advantage. But in this market, I wouldn't risk it. Lots of people in other industries have lost their FT job offers/jobs, and you are very lucky to have this job security. Accept your offer, work hard this summer, and put it into perspective. Moelis will provide you with plenty of great opportunities that even people on this prestige/hype obsessed forum would kill for.

People like you are why banks are hesitant to do this - kudos to Moelis for doing it regardless, and as far as I know they are as sincere as a bank can be in improving their general rep (it's still sweaty, but not an outlier by any means).

Also I would stick with an EB in these times, especially with a strong RX platform that allows analysts to cross between RX/M&A and industry groups

Leverage for a GS FT offer and work at both places virtually, like that idiot from yesterday

You need to check yourself. Most people right now are losing jobs and it’s practically impossible for new grads to find any. Other SAs are worrying about whether they’ll have an offer, or if they’ll even have a chance at proving they deserve one. Trying to recruit rn when you have an offer at probably one of the safest shop (you get IB and rx, and there’s no shortage of deal flow and learning opportunities) on the street will not only make you look stupid, it will inevitably fail you. If you don’t like that you received this as a “gift” then earn it when you start working and stop shitting on the goodwill that moelis has shown you. If you don’t think that you can succeed in this environment and you don’t wanna try, you shouldn’t have accepted the offer and you can leave now. I’ll be in your analyst class and all I’ve felt is grateful and excited for the past few days. Today I lost a bit of that excitement knowing I’ll have to work with an idiot like you.

Here's the thing: because you would not have gained any actual work experience from now until the end of next summer when you can recruit for FT anways (besides an extra year of college), you aren't really any different than someone who has an offer at another place and is shopping it around or if this offer has an acceptance expiration date, potentially creating the opportunity for you to reneg the Moelis offer.

Like others have said, due to these weird times, it's probably best to stick with a great company like Moelis as you enter full-time. If you truly don't like the culture or the bank, then you can lateral after a year or so to another bank. The Moelis name will take you places.

Retard

Prospect in IB-M&A:

Hey Guys,

I couldn't believe it when we received the email that we'll get the full time offer. I wanted to ask how I could best lever that offer to receive interviews at more major banks (GS/JPM/MS) given that we just received it as a gift and not due to our performance. Should I be completely transparent here or just not mention it?

Thank you

yeah you got an offer from Moelis for absolutely doing nothing, omg omg please we want you so bad

dude you got lucky as shit enjoy your offer and go back... none of us are going to give you any credit for your return offer

Firstly, I don't think I need to tell you how this sounds as many people have already commented on that. What I would like to say, for your own sanity, is that I actually think being at an EB in the coming 2-3 years is way better than an M&A group at a BB. BB Coverage may be slightly different as you can always pitch (great learning experience). If you wanna actually close deals an EB with a strong Rx arm (Moelis is one of them) is the best place to be imo since they will also get mandates from their M&A group.