If I gave you an offer now, would you accept?

I got this question twice during my second rounds. I was really tempted to say yes, but I said that I would need a day or two to think about it both times.

Now it has been a month since my last second round, and I constantly wonder what would have happened if I had said yes.

I am going to email some contacts tomorrow and do some networking so if everything goes well, I should be able to scrounge up a handful of interviews, and I want to be prepared in case this question comes up again.

 

A pretty fiendish question indeed.

If you say yes, then you run the risk of looking desperate and having the interviewer chuckle and say, "We'll get back to you."

However, the banks might be looking for people to commit immediately in this environment and want to weed out those who think something better might come along.

It would be interesting to hear from anyone who has answered yes to this question.

 

Well this happened to me twice, with the same firm, different offices. Answered yes both times, even though the second office was really my preference from the outset.

First time, they asked me and I said yes, denied after superday.

Second time, they didn't even ask me, over lunch I told them that I'd accept same day / on the spot, got the offer, and to my word, signed it the next day.

I'm not sure this question has as much weight as people give it...

 

The thing is, that the interview process is a bilateral process. Firm puts a shitload of effort to evaluate you, and takes its time to make a decision. So should you - it is not a good idea to commit to WHATEVER without prior due diligence (in this case - careful reading through each and every word in the employment contract you are offered). Do you sign any transaction documents (such as, for example, buying a house) without VERY CAREFUL due diligence? I doubt so.

 

Of course Ivan, nobody's talking about signing things sight-unseen. Verbal acceptance is not written acceptance; before signing of course I read through the offer letter. It just so happens that it has the best terms I've ever heard of in an IBD letter, so I was comfortable in signing quickly.

 

Contracts are standardized for SA positions, you won't see any surprises. That said, firms are looking for people who REALLY want to be there. I was asked this question and answered yes which lead to an offer. At another firm I didn't express that the firm was my #1 choice, I was talking to other firms, etc.. and I was denied.

 

I've never gotten this question but I would have said that while I feel confident this is the best fit and I'd love to work in XYZ group, I always like to sleep on a decision of this magnitude regardless of my conviction. But I do feel confident that if given an offer, I could accept fairly quickly if that is a concern.

So you're basically saying if you gave me an offer and needed me to decide in a short time frame, I would give you an answer in that time frame(a given, regardless). You're still affirming your interest without seeming desperate or overly eager and not boxing yourself into a 1-way verbal committment where they have the option of extending you an offer or rejecting you, and you're only option is to accept if they make an offer, and walk off with your tail between your legs if they reject you.

Plus... say they have chosen 5 candidates for 2 spots. 3 candidates box themselves in with the "I'll except right now" answer. These candidates are pretty much in the bag. The other 2 give an answer which somewhat resembles what I said, or better. From a recruiter standpoint... you can't decide... all candidates being equal... I'd extend to the latter 2, even though it sounds stupid, they have exhibited more value by not jumping at your offer ASAP. And I know that I'll still have Candidates 1-3 on standby if they 4 and 5 decline my offer.

Its like having 2 guaranteed booty calls, and 2 maybe's. All else equal, you'll hang out with the maybe and if she falls through, you just roll up to the guaranteed after.

 
Marcus_Halberstram:
I've never gotten this question but I would have said that while I feel confident this is the best fit and I'd love to work in XYZ group, I always like to sleep on a decision of this magnitude regardless of my conviction. But I do feel confident that if given an offer, I could accept fairly quickly if that is a concern.

So you're basically saying if you gave me an offer and needed me to decide in a short time frame, I would give you an answer in that time frame(a given, regardless). You're still affirming your interest without seeming desperate or overly eager and not boxing yourself into a 1-way verbal committment where they have the option of extending you an offer or rejecting you, and you're only option is to accept if they make an offer, and walk off with your tail between your legs if they reject you.

Plus... say they have chosen 5 candidates for 2 spots. 3 candidates box themselves in with the "I'll except right now" answer. These candidates are pretty much in the bag. The other 2 give an answer which somewhat resembles what I said, or better. From a recruiter standpoint... you can't decide... all candidates being equal... I'd extend to the latter 2, even though it sounds stupid, they have exhibited more value by not jumping at your offer ASAP. And I know that I'll still have Candidates 1-3 on standby if they 4 and 5 decline my offer.

Its like having 2 guaranteed booty calls, and 2 maybe's. All else equal, you'll hang out with the maybe and if she falls through, you just roll up to the guaranteed after.

Hmm, this sounds good. Thanks everyone.

 

I got this question in all of my superdays, said yes in all cases although obviously I was honest only once. Mind you, this was back the in the good old days when you could lever a company up 7x with debt priced a L+250.

I had 3 superdays, 3 offers (2 bbs, 1 boutique). In terms of how this question affected my candidacy I will honestly never know. I think when the interviewer asks this they want to gauge your interest in the firm. I would imagine that some banks put more weight on this than others. I don't see anything wrong with saying yes--if you haven't done your due diligence on the firm prior to your superday it's difficult to explain what you're doing there in the first place. If you're there for a second round, you should be sure that you would accept an offer from that bank IMO.

In this market I think it will be a common question bc with fewer spots available for SAs, banks will most likely be vying for the same handful of candidates. This means that the candidate you gave offers to will probably get offers from the other places they interview bc they are the cream of the crop (whereas in boom years you're giving out so many offers that at least some percentage of your offers went to people with no other offers). Thus, banks want to see how committed a candidate will be before extending the offer. If you know you can only give 3 offers for a particular school you want to give those offers to the people who will most likely accept.

Basically a really long way of saying that as jbs mentioned, you would have to be high not to say yes to this question in a market like this.

 

I really dislike this interview tactic. My typical response to this question goes like this:

(said with as much earnestness and confidence as possible)

"I'm flattered that you would even ask me this question because it tells me that you consider me a good fit. I also think that I would be a great fit and would love the opportunity to work here. However, my experience in private equity has taught me the importance of doing my due diligence and never making hasty decisions. I assure you that if I was working for you that I would never put the company in danger by making an important decision too quickly. Would you really want to hire someone who was willing to make this sort of commitment without so much as evaluating the offer?"

Typically this response increases their respect for you because they know you're not desperate and have good judgment. I would never want to work for any employer who would ding me for refusing to play to abusive rules. I encourage everyone else to have some self respect too and refuse to play this game - you will be better off in the long run anyway.

 
spinner:
I really dislike this interview tactic. My typical response to this question goes like this:

(said with as much earnestness and confidence as possible)

"I'm flattered that you would even ask me this question because it tells me that you consider me a good fit. I also think that I would be a great fit and would love the opportunity to work here. However, my experience in private equity has taught me the importance of doing my due diligence and never making hasty decisions. I assure you that if I was working for you that I would never put the company in danger by making an important decision too quickly. Would you really want to hire someone who was willing to make this sort of commitment without so much as evaluating the offer?"

Typically this response increases their respect for you because they know you're not desperate and have good judgment. I would never want to work for any employer who would ding me for refusing to play to abusive rules. I encourage everyone else to have some self respect too and refuse to play this game - you will be better off in the long run anyway.

Ugh, too long. Just say what Halberstram said. There are times to be selling and there are times to not be selling, and that question isn't one of them.

spinner:
I really dislike this interview tactic. My typical response to this question goes like this:

(said with as much earnestness and confidence as possible)

"I'm flattered that you would even ask me this question because it tells me that you consider me a good fit. I also think that I would be a great fit and would love the opportunity to work here. However, my experience in private equity has taught me the importance of doing my due diligence and never making hasty decisions. I assure you that if I was working for you that I would never put the company in danger by making an important decision too quickly. Would you really want to hire someone who was willing to make this sort of commitment without so much as evaluating the offer?"

Typically this response increases their respect for you because they know you're not desperate and have good judgment. I would never want to work for any employer who would ding me for refusing to play to abusive rules. I encourage everyone else to have some self respect too and refuse to play this game - you will be better off in the long run anyway.

I would think you were an insufferable douchebag if I asked you that question and you responded like that.

 

I said yes, and told them they were my top choice, and I got the SA position.

I would say yes every time, but you don't want to show desperation as everyone has noted. I believe Marcus' answer would be a great response, but I would be a little more direct in my approach with saying yes in this environment.

Remember it isn't binding. Tell them what they want to hear.

 

All these responses about due diligence and whatnot are actually ridiculous. Lets go through this logically. If by time you have finished your second round (or are 2 minutes away from it) interview and you haven't done your diligence on the company you don't deserve an offer. If the firm asking you this question is one you would accept an offer at, then there is no harm in saying "yes I would accept an offer from you right now."

As someone who has gone on many recruiting trips and asked similar questions (usually offline after an interview though), recruiters care if you would accept or not. We also care about how many other places you have gotten far at (both positively and negatively). Recruiting programs are penalized if they don't have a high enough yield (have 3 slots, give 5 offers and get 2 acceptances). This means that if people think there isn't a high chance of you accepting they won't continue the process with you EVEN if they like you.

In closing, it doesn't hurt to say yes.

--There are stupid questions, so think first.
 
PowerMonkey:

If by time you have finished your second round (or are 2 minutes away from it) interview and you haven't done your diligence on the company you don't deserve an offer.

Recruiting programs are penalized if they don't have a high enough yield (have 3 slots, give 5 offers and get 2 acceptances). This means that if people think there isn't a high chance of you accepting they won't continue the process with you EVEN if they like you.

Since you have done a lot of recruiting you know it's a game. Both employers and candidates are jockeying for the best offers / best candidates. Obviously as a candidate you want to have the chance to chase all of your options and select the best offer. Employers ask this ridiculous question because they can get away with it and because they're scared of being rejected as you point out. The problem is that this approach turns off the best candidates because it makes your firm look insecure and it causes some other candidates to lie to your face. If you think highly of your firm then you wouldn't ask this question because you would feel secure enough that your offer is attractive enough not to plead for an acceptance up front.

 

I feel like I may sometimes berate people on this board, so I didn't want to be the first one to say it... but... um... yeah, I'd definitely be think insufferable d-bag.

Beginning with the "I'm flattered," If I were interviewing you, as soon as I heard those words I'd just mentally check out of the rest of your answer and draw a penis shape with big balls resting on a tongue... call me immature.

There is just so much underlying, attempted subtle pretension in that answer.

 

at the risk of sounding defensive i have never lost an opportunity by being honest and having reasonable estimation of my worth. if you say yes but don't mean it then you're a liar. if you say yes and take the offer while you might have gotten something better by holding out then you're a chump. i'd rather sound like a d-bag than lie or cave in to a transparent power play.

 
models_and_bottles:
You always say "YES" to questions like that. Same thing with "are we your top choice?". These companies reneg on offers all the time, don't pretend like they are extremely honest and would never lie to you. You have to do what's best for you...it's just business.

Yes. This is business - and yes - sometimes companies re-neg offers, but that doesn't give you an excuse to lie. This is a small industry and people have long memories. If you say yes when you don't mean it then prepare to either leave a better offer on the table or put your reputation in jeopardy.

 

The answer to this question is Yes!, and it is not even debatable.

What they're really asking is: Are we your top choice or are you going to ditch us like a little bitch when Bank XYZ gives you an offer?

This is your chance to kiss some ass and show how impressed you are with the firm by saying something like: "I had your firm at the top of my list going into recruiting season and after meeting and talking to several employees (use their names here) I feel like this would be a perfect fit for me, so I would absolutely accept your offer." - Not those exact words but you get the point.

This way your are showing genuine interest in the firm and a willingness to accept the offer, while not looking desperate.

The key here is that they are trying to catch you off-guard to check what your real intentions are recruiting with them. If you give the perception that they are not your top choice (a fall-back option) then they will not even consider you, unless you are a superstar and they really want you badly. Remember that banks have a huge recruiting pool to choose from this year so they don't want to waste their time on someone that might reject their offer, especially if you are recruiting for an SA position.

 

you can pull it off if you really want to work at their firm, and aren't truly bs'ing them

i got this in a final round with a well known boutique - and i was dead serious about working there, mainly bc of culture, and experience of an alum there....i said dead on yes, and was blunt about my reasons. sr associate was like, awesome, i'm going to push to get you an offer....got an offer a week later (took a while since i was a non target), and canceled the rest of my interviews

like most things in banking, being able to bullshit is pretty crucial to this question. if you're good at bs in an interview, which you should be for banking, you can also just say yes and make them believe it....just do it in a confident manner so you don't look desperate

 

How one ma accept something he is not aware of? Until you have an offer on hand and read through it, you do not know the terms and conditions the firm offers. Besides, you can't accept an offer orally (well, you can, but it doesn't mean anything from the legal standpoint).

So, in case you are asked such question, you may answer something like this: 1) I would be happy to accept certain levels of sign-on and base salary (in case you were informed about them) 2) Other things being equal, I would choose your bank ahead of your competitors (you may add couple of reasons here) 3) You would be happy to accept an offer via putting your signature on the written contract in a timely manner upon receiving and carefully reading through the documents.

 
Ivan:
How one ma accept something he is not aware of? Until you have an offer on hand and read through it, you do not know the terms and conditions the firm offers. Besides, you can't accept an offer orally (well, you can, but it doesn't mean anything from the legal standpoint).

So, in case you are asked such question, you may answer something like this: 1) I would be happy to accept certain levels of sign-on and base salary (in case you were informed about them) 2) Other things being equal, I would choose your bank ahead of your competitors (you may add couple of reasons here) 3) You would be happy to accept an offer via putting your signature on the written contract in a timely manner upon receiving and carefully reading through the documents.

I really disagree here. Listen to all the people in this thread that said "yes" directly but in a non-desperate fashion and GOT THE OFFER. Even if you are a "top" candidate and are in multiple final rounds you'd have to be a moron to play games with this question...especially considering current market conditions.


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WallStreetOasis.com:
I really disagree here. Listen to all the people in this thread that said "yes" directly but in a non-desperate fashion and GOT THE OFFER. Even if you are a "top" candidate and are in multiple final rounds you'd have to be a moron to play games with this question...especially considering current market conditions.
Heh, gotta admit, I was probably on the desperate side...but I had conviction and a very good story why I wanted that group over any other.
 

Answer should be Yes, followed by why it is your Number #1 choice, even if it is not.

Recruiting season is completely f'ed for you guys as is, and interviewers are looking for any reason to cut your ass, so you better make it apparent that you want them.

And I don't advise a response like spinner. I know that the people I worked with, at least, would think the person was a pretentious tool.

 

This just goes to show you the varying quality of feedback and advice you receive on this forum. I used to think the information disseminated on this forum would dilute the quality candidates by teaching unqualified candidates how to fool the screening processes, but the same people who would answer a "why banking?" question with "I think its a great stepping stone to get onto the buy-side," will probably adopt some of the answers stated above.

 
Marcus_Halberstram:
This just goes to show you the varying quality of feedback and advice you receive on this forum. I used to think the information disseminated on this forum would dilute the quality candidates by teaching unqualified candidates how to fool the screening processes, but the same people who would answer a "why banking?" question with "I think its a great stepping stone to get onto the buy-side," will probably adopt some of the answers stated above.

Was thinking the exact same thing.

 

It comes down to this...if you say "No", you are OUT or have seriously hurt your chances. This is tantamount to telling the company they're your 4th or 5th choice - you will not get anywhere! These companies do not want to waste time with candidates that play games or draw out the process (i.e. try to get as many offers as possible).

All the companies realize you are interviewing at other places. The question is simply to gauge candidates' intentions and motivations for wanting to work at 'X' firm. This isn't a legally or morally binding commitment.

 

It's not about being a tool or playing mind games with potential employer, it's actually about your career and job security. When you work somewhere and are interviewing at another place, you may receive an oral offer, you may even orally accept it, but what would it change? No one (provided he/she is not mentally ill) will put a notice to his current employer prior to receiving an offer letter signed by the firm he is negotiating with. So, until you have such a document (signed by the company) on hand, it doesn't matter at all whether or not you "accepted" or "played games" - you are not able to proceed.

 

I used to tell people that the recruiting process is a bit like dating. The girl (bank) wants to know that other people want to bang you (who else are you interviewing with?), but at the same time, she wants to think that she's special i.e. the only one you want to bang (if I gave you an offer right now, would you accept?). If you want to get laid (the offer), then it's your job to convince her that she is indeed special and the only one you want to bang (yes, I would absolutely accept).

Perhaps some girls want to hear the brutally honest truth that you want to stick it in basically anything that moves (well the answer really depends on whether Goldman says yes or not), but I always err on the side of caution here and just tell her want she wants to hear.

 

Good analogy.

Some of the people above are saying you should tell the girl you want to see if you can find someone hotter before agreeing to settle for banging them.

Others are saying you should say you'll only fuck them if they agree to the following terms:

  • you will never deny my sexual advances
  • I can stick it anywhere, anytime, in any particular order which I please
  • when I'm around other girls, you will not acknowledge we know eachother or that I've slept with you
 

if they ask you this question, it is a VERY good sign. it means that they are seriously considering extending you an offer. but these banks only want to offer if they are certain that the offer will be accepted. (they always plan for rejections, but alas)

if you tell them "i need to think about it", this tells the bank that you're not their favorite, or that you aren't quite as interested as the 100 other people who all answered yes to that question during superday.

 

I did relatively well during this recruiting season, and at every final round I've been to at least one interviewer asked me this question. If you want an offer in the bag, Yes is definitely the correct answer. Doing some research, you can usually find out which offices will be more aggressive and how you should respond to them (I guess you can PM me if you would like more specifics from my own experience?). However, I agree with the fact that you shouldn't say yes to risk lying and burning a bridge... if you are confident that you can and will get a better offer (and if you feel like you are doing very well in your interview), then you may want to go with the beating around the bush:

"I've really enjoyed speaking with the people in this office, so I am strongly leaning towards a yes." type answer. In this case, they probably want you, and if you have convinced them that you really are considering taking their offer, they will court the shit out of you to try to get you to say yes. The evening of my final round with my 4th/5th choice, they called me and pretty much asked "what can we do on our part to help you make your decision?" and proceeded to bombard me with phone calls with different members of the group. Keep in mind that the opposite can happen also, and they will just go down the list and give the offer to the next person who said an emphatic "yes."

On the other hand, my top 2 choices, it was hands down YES - and then give reasons why. For me, I would have signed on the spot with either of these firms.

 

by the point where you get asked this question, you should know if you want to work for the company over all others that you have interviewed with or not. you should only say yes if you mean it and if you can back it up with specific reasons why.

 

Ivan, stop making an ass of yourself. You obviously haven't worked in IB so you don't know that contracts are standard across the board. You don't need to read the document before making an oral acceptance. If they try to pull anything over you (which I guarantee that they won't), you can just refuse to sign. And then, even if you sign, employment is at will and you are free to renege. It is not legally binding.

 

I would answer it by saying something to the extent of, "[Your firm] is my top choice, and assuming that the terms of the offer were acceptable, I would be inclined to sign today if given the opportunity."

 

You guys are so fucking stupid. Just shut up about this already.

No one gives enough of a shit about you to try to take advantage of you.

"...assuming the terms of the offer were reasonable..."

If I asked you that question and replied with the answer you posted above, I'd say "How unfortunate because the terms are not reasonable, thanks for your time."

 
Marcus_Halberstram:

No one gives enough of a shit about you to try to take advantage of you.

Have you ever hooked up with a chick in HR? I suggest it in case you ever get the opportunity because after you're done she will spill all of the ways HR lives to screw you with your pants on. I agree with everyone who says you don't need to see all the terms up front but once you have them you have GOT to do your due diligence and negotiate (aggressively depending on how much you need them vs. how much they need you).

Marcus you sometimes sound like IB/PE employees are all interchangeable. Perhaps that's true for 1st years but once you build a rep believe me that your bargaining power increases and it would be foolish not to use it.

 
Best Response
spinner:
Marcus you sometimes sound like IB/PE employees are all interchangeable. Perhaps that's true for 1st years but once you build a rep believe me that your bargaining power increases and it would be foolish not to use it.

I definitly agree with that. I just typically address what 90% of the people on this forum are... which is college students trying to break into wall st.

I'd say regardless of much work experience you may have, if you're lateraling there is SIGNIFICANT opportunity to negotiate and be exploited if you're not careful.

Its just the "Fucking Moron Factor" that emanates from these kids that are saying how their answer would be "Well, first off I'm just overwhelmed with gratitude that you would consider me worthy of this institution. If I was given a written offer letter with a base salary and sign on bonus within 1 standard deviation of a weighted average of Wall Street BB Analyst-1 comp, an employment at-will clause, 2 weeks vacation, 6 sick days, and 3 personal days, and a severance bonus if the bank falls from top 3 position in any more than 2 league tables in a given year. I would be more than happy to sign."

 

I suppose I was thinking about this from my perspective not the perspective of a new monkey (slightly less bargaining power).

To those who have a couple of years of experience: while there may not be people who give a shit to try to take advantage of you (I disagree to a certain extent), I guarantee there are people who give a shit to try to take advantage of market conditions and who are currently trying to pick up talent on the cheap. I've seen it firsthand.

Like I said, the situation is most likely different for pre-1st years.

 

Exactly. Some of you all are just dumb.

The recruiting season is beyond terrible. People with great resumes are not even getting interviews - let alone offers.

Yet, you somehow get an interview in the midst of this meltdown and subsequently this question, where you then respond with some bullshit other than "Yes, followed by reasons why."

Nobody wants to deal with a bullshit artist, and you're going to get your ass dinged.

I would have said something like "I have done my homework researching your firm and the position. This is definitely my first choice and I would accept the offer."

easy? why would you say "no" or "maybe" to that question????? it just seems arrogant and quite frankly retarded given the market... i don't see the point of saying "maybe"...lol

 

Thinking back to when I was initially interviewing I realize that my answer to this very question was, "Absolutely."

Once you're in the industry and moving around your answer/attitude can and should change, but when you're trying to break in your answer should be emphatically positive.

 

funny. I showed this thread to my friend (who got an SA offer from a BB NYC) and told me that she got a similar question and her answer was "absolutely". she was offered the position that night.

just be true to yourself when you are interviewing...they are experienced and old enough to see through your bullshit

 
LondonE1:
funny. I showed this thread to my friend (who got an SA offer from a BB NYC) and told me that she got a similar question and her answer was "absolutely". she was offered the position that night.

just be true to yourself when you are interviewing...they are experienced and old enough to see through your bullshit

Does she do anal?

 

I always say I'm keen but will need more time to think about it (speak family and probably parents), which I think is a very fair answer, even in this sort of market. You've already said you're keen.

You're here obviously because you're interested in the job or you would've turned down the interview anyway.

 
charlemenge:
I always say I'm keen but will need more time to think about it (speak family and probably parents), which I think is a very fair answer, even in this sort of market. You've already said you're keen.

You still don't get it; Yes is the only answer. You should re-read this whole thread, because obviously you have not learned anything.

"...You're here obviously because you're interested in the job or you would've turned down the interview anyway."

Not true either, you could be here because it is a fallback option incase you don't get your first option, and the interviewers will sense that if you give them a bullshit answer like you mentioned.

Sorry, but anyone who still doesn't know how to answer this question after reading this thread does not belong in banking.

 

Marcus_Halberstram, yes.

Exactly. If you are doing the interview with them and gave the whole jazz about how great the bank is, the reason why you are interested in this bank and etc...why would you now hesitate on their offer? Which again means that you were bullshitting to begin with.

nonetheless, best of luck to you OP. You never know what he/she was looking for in your answer.

 

Regarding the post of the OP: he never mentioned that the negotiations are for a SA or a FT 1st year analyst role. Provided he has significant experience and is a potential lateral hire, he not only may but definitely should take his time considering an offer, and maybe negotiate as well.

Most of the replies here assume that the question is about graduate recruiting, which, if true, is indeed a whole lot different story and requires different attitude from the interviewee compared to lateral recruiting. But unless otherwise specified, I think it's better to assume we are talking about recruiting process for bankers, not wannabees.

 

Guys, can't we all agree that there don't need to be a complete consensus on this? I hope we can agree that different people in different situation are allowed to have different views on this. Nothing more valuable is being said right now - mostly just repeats, indignant diatribes, and personal attacks. Who are we helping?

Most of the responders are in the "YES NO MATTER WHAT" camp. That's fine and their logic is sound. Clearly these offers are hard to come by especially in this market - so most 1st year candidates and many laterals should probably say YES emphatically every time and pray.

However, some believe that honesty and reputation also matter. Some are willing to take the risk of losing an offer rather than lying to a recruiter's face. Some are confident enough in their track records and abilities to hold out for the best offers. Some are also turned off by this recruiting tactic and can afford not to sink to it.

The BOTTOM LINE is simple: If you want to maximize your odds of getting an offer then always give an EMPHATIC YES. If you are extremely secure in your marketability and care about some of the other factors we have discussed then consider a more nuanced response. You have heard the various arguments - choose for yourself.

 

I think the answer to this question also depends on who is asking it. If Goldman aks you, it's a fit question and the only answer is YES (and elaborate why they are your top choice).

But if Citi or Barclays asks you, it is a trick question to see your intentions. If they see you are a top candidate, they want to know if you will reject them. I don't know whether it's better to lie and say they are your top choice (they will probably see through your bullshit) or not (then they may not offer you if they think you will choose something better).

And if you are not a top candidate, then they want to see how desperate you are. In which case I also don't know a good answer.

 

Really depends on who is asking the questions and the tone of the interview. Back in the day, I interviewed everywhere(spent most of my junior february with 1-2 interviews a day), some places, lets say a MM boutique that recruits at a target, will really try to find someone who is good but otherwise flawed in a way that they can't get BB. However, there are dumbasses such as myself that literally applied to every bank. At the time, I was pissed thinking to myself, "I can get an interview at Goldman, but not at xyz", but in hindsight they looked at my resume and realized there was slight chance that I would take an offer. However, there were still a fair number of places that did interview me, and at least one of the interviewers would go on the offensive trying to figure out where else I was interview etc., as these places do not want to waste their time giving you an offer to backup your BB offer. When you are dealing amongst the BBs, they are less likely to play these sorts of games, as they have enough spots to let things play out. Citi in their mind thinks they compete with Goldman, and they think there is at least a shot that someone would take them. In this type of a situation, just don't say anything stupid or tip your hand in either way. If you are too enthusiastic without being able to sufficiently back it, you will tip that you have no other good options. If you waiver too much, it will show its a backup. This is where knowing as much as you can about the group that is interviewing you comes into play, so you can answer questions like this "I am really interested in TMT deals, and I know citi is very active in this space. I think its quite attractive that you can use your balance sheet to win deals, etc." If you don't need to use that info to answer a question, use it to your advantage in the Q&A part. "What kind of advantages do you find being able to use the balance sheet? Has it helped you win mandates?"..."Do you find that the MDs are really well known in the space...do deals come to them or is there a lot of pitching?" These types of questions which you already know the answer to will allow the banker to gloat about how great their group is, and put them in a good mood. In my short time in this business, I have interviewed with an absurd amount of banks (100+), and the one thing in common with all of them from GS/MS to the microcap schlock shop at 34th and 7th is that they all think they're the best, they all have some achievement to point to at some point in their life (some were still showing off deals from the late 90's), and you need to play into their ego to get the offer.

 
yusucks:
This is where knowing as much as you can about the group that is interviewing you comes into play, so you can answer questions like this "I am really interested in TMT deals, and I know citi is very active in this space. I think its quite attractive that you can use your balance sheet to win deals, etc."

A) How do you know which bankers will be interviewing you? B) Where do you find out specific information like Citi being active in TMT? I read the journal, but getting to know banks in such detail like that takes time, especially if you're not working in the business yet. So in prepping for interviews, where do you find such info?

 

When asked, I told two partners at a consulting firm they were my top choice.

They're going to call me today with a decision, and I'm confident I'll receive an offer. How poorly would the firm receive a delayed acceptance? I really want some more time to finish final rounds at 1-2 other places, and everything will wrap up in around a week.

I am wondering if after saying the initial firm was my first choice, I ask them for a week to decide, this will piss them off if I eventually accept. But I'm probably over thinking things

 

In my experience, you say something along the lines of "after coming here today, I really see this as a place I see myself working for a long duration. I really feel like this culture of this firm will make it a great place for me to start my career". Honestly, you can't go wrong saying yes, it isn't like your verbal agreement is binding.

 
Discounted Cash Bro:

Always say yes, Otherwise you won't get the offer at all. Unless you have absolutely no intent of accepting. This is typically used in interviews.

This. You say yes, and then there's lag time between getting the written contract for you to really consider if this job is for you. You say no or give a non definitive answer and the offer will go to someone else.

 

I think I'm going to call back CEO to say that a competing opportunity just vanished and that I am now confident that I will accept the offer.

Thoughts on this? Gonna call in 15 min.

Haters gonna hate
 
advantageplayer:

I think I'm going to call back CEO to say that a competing opportunity just vanished and that I am now confident that I will accept the offer.

Thoughts on this? Gonna call in 15 min.

Yikes. Don't do this and I really hope you didn't because I see you said you'll call in 15 mins and it's already past that.

Let's imagine the company/CEO is a girl you're dating casually. She asks you if you would like to continue dating exclusively and you just said 'hmm... I'd like to but I gotta think about it' which already raises red flags.

Now you're going back to her and essentially saying 'hey baby, so this other girl I was seeing (who is hotter than you btw) told me it's not happening and now I'm all yours.' How well do you think that would go over?

I've never had to deal with trying to reclaim an unspoken offer before, but if you call him, you should reiterate your interest in the firm - why it's your #1 choice, and if he were to ask if you'll take the offer on the spot that you'd say 100%. Maybe a way to play it would be to say that you were caught off guard by the question last time, and you didn't want to across as someone who doesn't give any thought before making a decision. I don't know, that kind of naivete from a kid just entering the workplace might be forgiven. Hopefully someone on WSO has been in the same boat can help with this one.

 
advantageplayer:

I think I'm going to call back CEO to say that a competing opportunity just vanished and that I am now confident that I will accept the offer.

Thoughts on this? Gonna call in 15 min.

You might have stumbled upon the worst possible response. Just call and say you want the job. If he asks why the change of heart? Just say you thought about all the [whatever things he said about the job/culture/whatever] and think it's the perfect fit.

Out of pure curiousity, what made you think that saying you got declined elsewhere would make you more appealing? I'm guessing you don't get laid much.

 

Yeah this may be late, but DO NOT UNDER ANY CIRCUMSTANCES SAY WHAT YOU WERE GOING TO!

This is what you need to say: tell the CEO you were caught a little off guard, and are not the kind of person to make big decisions without thinking them through first (obviously, don't say this if the job involves making big decision in a second lol). Then say that in spite of your previous response, you have always been interested in the firm/job and after thinking it through have concluded that you would indeed accept an offer on the spot, and you'd look forward to joining the firm.

HOWEVER- if there is a good chance you don't want to work there, it may be better to let it go- don't say something like this and then renege right after.

 

Have not called yet. I realize how stupid I was in my response, and do want to recover if possible. I am going to call him tomorrow morning.

What I meant to say was that I definitively decided against another opportunity and can now confidently say that I would accept an offer from your firm--thoughts on this response?

Or I could say what Kanon was suggesting about "being caught off guard and didn't want to come across as someone who made decision w/o thinking them through. I realize that this may have come off as not being fully committed--which is certainly NOT the case. I would absolutely take a job offer if given the opportunity. "

Which of the two do you think is better?

Haters gonna hate
 
advantageplayer:

Or I could say what Kanon was suggesting about "being caught off guard and didn't want to come across as someone who made decision w/o thinking them through. I realize that this may have come off as not being fully committed--which is certainly NOT the case. I would absolutely take a job offer if given the opportunity. "

Which of the two do you think is better?

this one, 100%

"You rarely have time for everything you want in this life, so you need to make choices. And hopefully your choices can come from a deep sense of who you are." - Mister Rogers
 
advantageplayer:

I already interviewed, and then get asked this question from CEO of company on a call a few days after the interview. It's like he's giving me an offer without actually admitting to give me an offer.

Is this inappropriate? I'm not sure how I should handle this.

This is kind of a ridiculous question to ask imo. It's like he's asking if accepting the offer is a no-brainer in your mind, and if it isn't, you're likely to not get the offer if you answer honestly...

I don't believe that any offer from any company should be a no-brainer immediately. You should ALWAYS take time to think about it and weigh your options, regardless of how poor your alternatives might be.

 
GoIllini:
advantageplayer:

I already interviewed, and then get asked this question from CEO of company on a call a few days after the interview. It's like he's giving me an offer without actually admitting to give me an offer.

Is this inappropriate? I'm not sure how I should handle this.

This is kind of a ridiculous question to ask imo. It's like he's asking if accepting the offer is a no-brainer in your mind, and if it isn't, you're likely to not get the offer if you answer honestly...

I don't believe that any offer from any company should be a no-brainer immediately. You should ALWAYS take time to think about it and weigh your options, regardless of how poor your alternatives might be.

That's true, but it doesn't stop people from asking such questions anyway.

 

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Haters gonna hate
 

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