Importance of Starting Analyst Years in NYC
Hey everyone. I'm a college senior who interned at a BB this summer in their regional office. I got an offer and am wondering if I should push for a spot in the NYC office. The advantages of staying in the regional office I interned at is the cost of living is low and I really liked the people I worked with. The downside is I miss out on the easy access to PE interviews found in NYC (entering PE is my goal after my analyst years, though I recognize this could change) since in NYC I could just step out to lunch to go interview for example.
Sure I could fly from the regional office to NYC to interview, but how many times could I do this before I ran out of excuses? To make matters worse, I would probably be interviewing during the first half of my first year when I will be the most swamped with work. Also, I'm not sure if I can even push for a position in NYC aka my offer might just be for the regional office. But I've heard that if the firm thinks you'd be a good addition they will work with you to accommodate you within the firm (though to what extent is uncertain). Also, I don't want to burn any bridges with the regional office.
Eventually I want to move to NYC (for a few years at least) just to expand my network and to take advantage of the opportunities available there. If I do my analyst years in the regional office, will I be restricted later on? In other words, does it mean that I will most likely work in, for example, a PE shop in the same city or state as the regional office?
Thanks for any advice/comments. I have about a week to make a decision.
It all depends on where your regional office is.....
I'm for ballsiness - go for it. Don't need to list the advantages, you already have.
Another note: don't necessarily take everyone's responses to heart - it is an internet forum after all. I'm guessing you'll get a lot of "What makes you think you're entitled... blah blah" (though I may have preempted it with this post).. but if you were good enough to get the offer, it doesn't hurt to try for NY.
went through the same thing, if you like the regional office stay there, word hard and kick ass and the doors will still be open everywhere
What is your cost of living at your regional office. Keep your expenses down and buy a boat. Did that this year, work in the SE. Best decision of my life.
Define "regional"?? If you are talking places like Rochester, Long Island, etc, then things are very different versus offices like (Oh, I dunno) Seattle and Atlanta.
Double-leverage.
Current BB-regional offer -> NYC BB / (top)MM offer
NYC BB / (top)MM offer -> Current BB-NYC offer
That way you don't risk blowing up your current offer by seeming needy, or insulting the guys at the regional office (equities in dallas?). And it if blows up when you ultimately go back with a NYC offer, you have something to fall back on.
San Ford, could you explain the double-leverage? What does your second line mean? The offer is for Houston, hence the cost of living is pretty low.
I think hes basically trying to say leverage your first offer while you are interviewing at other banks.
Really, really depends on what "regional" means. Some people on here define regional as "not NYC". If your offer is in San Francisco, Chicago, Boston, or Charlotte, you'll be totally fine for PE interviews. You may have to work a little harder if you're in someplace like Austin or Richmond, but it's definitely not a dealbreaker.
CaptK, the offer is for Houston. How will I be totally fine for PE interviews if I have difficulty flying to NYC (or wherever the PE shop is) to interview? I know I will be fine in the sense that I'll still have a good chance of getting interviews and such.
I have a family friend who is a MD of a PE shop in Dallas..I'm sure if Dallas has PE then Houston will too as I believe it is a big hub for energy.
I agree with CaptK. All of the PEGs I interviewed at were willing to fly me in for interviews. A couple of them flew me in multiple times.
Houston is a Continental Hub and has direct flights all over the USA (with tons to its Newark Hub). You will have absolutely zero problems getting back to NYC if that's where you want to interview.
Also, if you're looking for a Texas-based PE job, of which there are plenty, you'll have a big leg up on your NYC counterparts.
Yeah, exactly. Start interviewing at other NYC banks, leveraging your current offer. If you get an offer from another bank in NYC, use that offer when you go in and request your current bank to relocate you to their NYC office.
That way, you go in a) having back-up and b) not looking like a greedy cock with no basis.
Either way, congratulations on your current offer. Even if the NYC transition doesn't immediately work out for you, just keep motivated and always go the extra mile.
Best of luck to you.
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