urgent help with replying to offer
had posted about this earlier, but didn't get a lot of response, so here it goes again.
am a rising junior at a college. Looking to get into the buyside directly after undergrad. I applied to a few places for fall internship opportunities. Heard back from a tech investing focused family office (I think around 400m aum) who gave me an offer. At the same time got final round interviews at two fundamental research focused l/s equity shops (which is what I really am interested and want to do).
The problem with the family office is that 1) they're more of a quant focused shop. Spoke to the MD who gave me the offer and he said that while I would get some equity research opportunity, I would also be required to focus on quant stuff since he thinks that all the interns should focus on that and equity research on its own is dead. 2) from what I spoke to the MD, it's apparent that I won't get the traditional investment analysis experience there. I really don't want to do a quant focused internship - did that last year and wasn't really something I was interested in as it turned out. I'm really really interested in traditional investment analysis.
The MD gave me a couple of days to decide so they can move ahead with the paperwork. However, I also have two final round interviews at l/s shops (around 1-2bn aum), which won't be happening until two weeks from now because they're in person. Since I want to land at a fundamental l/s shop post graduation, I think that if I go through one of the two interviews I would get a much more relevant experience.
The problem here is that the MD gave me only a couple of days to reply whereas these interviews won't happen until 2 weeks after that. How do I approach this? Don't get me wrong, the family office is great and the people I talked to are good too, but I just didn't know that it would be a quant focused shop when I was applying and that's something I'm not really interested in anymore.
One idea I have is that a recruiter at the family office told me that MD personally trains interns outside of their internship on two specific days during the week. On my current class schedule, I can't go on those days (they want me in on tue, thu but I can only go in on mon, fri). So my plan is to tell them that I'll try to change my schedule and do the internship. And in the event I get offers from the other shops, I tell the family office that I couldn't change my schedule (because I really can't and don't want to miss a part of the internship because of it and that's another reason I kind of am looking at other options) so I can't do this internship. How does this sound?
A bird in the hand is worth more than 2 in the bush.
Yes true, but I don’t really want to do one more quant focused investment analysis internship and am 80% sure that i can get one of the other two. At the same time, based on what you said, I don’t want to lose the bird in hand
I was in a pretty similar spot before.
Had 2 internship offers, and was in the final round for 2 others.
The first offer was decent, but the main reason I liked it was that I'd be able to squeeze in the other 2 in the pipeline (the schedule was back to back to back).
The second offer was a better gig (buy-side), but it was a longer commitment and meant that I had to give up the other offer + the 2 in the pipeline.
Ultimately I said no to the 2nd offer, banking on that I'd get the others.
Risky play which worked out for me, could work out for you as well.
May I ask which tech investing focused firm is this?
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