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So the background is that I got an offer earlier this week from a MM Bank in New York. Pretty simple. On monday I was told I had a week to respond, but I didn't get the actual papers until tuesday. My first question is whether they want me to respond by monday or tuesday and do I have to fedex the decision or just snail mail it and e-mail them that I accepted.

Second, I just had another first round interview with a different bank and they said that I could come in as early has Monday for the second round and would be able to let me know at the end of the day whether or not I would be getting an offer from them. I think the second bank is probably a bit more prestigious, both in the MM.

My real question is how do I go about asking the company that gave me the offer if I could have til next friday to think about what I want to do. I'm currently in the middle of finals and was wondering if I should use this as an excuse as I have not had much time to truly look over the rest of the details. Should I tell them I'm waiting to hear from one last bank? Any thoughts and suggestions would really be appreciated.

Thanks

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Comments (7)

  • DK's picture

    I had the exact same situation earlier in the year. Set up the interview at the second bank as early as you can on Monday. Make sure you tell the second bank that you need a decision by Monday afternoon in order to do the interview as you are deciding between another offer. Tell the first bank you will get back to them with a verbal confirmation Monday afternoon.

    Have all your paperwork for the first bank filled out and in an addressed fedex overnight envelope so if you can send it monday afternoon/evening if you don't get the second offer.

    Pretty straight forward. I wouldn't try to bs them with excuses if you can just do an interview with the second bank on Monday.

    Good luck.

  • quiksilver13a's picture

    Is there any way to just ask for an extension or is that not a possibility?

  • GenghisKhan's picture

    Don't bother asking for an extension. The reason you're asking for one is almost invariably: I'm waiting on a bank I like better so can you help me out? That's a message with no upside for you.

    You want to game it and get an extra day? Call the HR person at 7am and leave a message asking her to call you back. Don't pick up your phone. Call back at 9pm that night. Apologize for not getting the message earlier, it's exam week. Say you'll call back tomorrow. Don't pick up your phone again. Make the call end of business day Tuesday.

    Alternatively, tell them you're trying to make a decision between them and another firm. You're leaning towards them, but it's a very close decision because of whatever. Can you come in next Tuesday after your exams are done to meet some other people to help you confirm your decision? You promise you'll have an answer within 24 hours of the sell day.

    Personally, I think it's highly distasteful for any sort of reputable bank (draw your own conclusions about what I'm implying here) to put an exploding offer on the table. My own belief is that a good firm should put out an offer, with a reasonably liberal timeframe. You'll either take it or you won't. If you do, everyone will be happier with the decision. If you don't, it was probably the right outcome for everyone. Putting short-fuse offers out, in my opinion, can only be the brainchild of HR, who are invariably more concerned with things like yield ratios and how it may reflect upon themselves and their recruiting efficiency.

  • GenghisKhan's picture

    By the way, in case you're wondering what the difference between my second alternative is versus just asking for an extension, think about it this way:

    Asking for an extension puts them in the driver's seat. The message is: I don't really want to take you, but I don't have any choice. You have the power over me. And chances are, they'll say no.

    The sell day approach says: Don't worry, I'm not saying that I don't like you. But I have choices. I don't need to take your offer. It's close enough that if you force me to, I'll take the other one and be ok with it. I'm in demand, and if you want me, make the gesture and sell me on it. I'll commit to giving you an answer after sleeping on it.

    And you'll get the extra two days you wanted.

  • Gekko21's picture

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