how and when to leverage offer
Received an offer, but have interview coming up in a few days with a company that I have a stronger desire to be part of. i wish to leverage this offer so they can expedite the process. is it best to communicate to other company's hr before or after i speak with interviewers(non hr people)? how to best way to communicate to hr?
Also interested. Also how do you have an offer mid summer? Internships have barely begun
I'd say the sooner the better. Just let them know you received and offer, but would rather work with them.
Should I Try to Leverage Offer? (Originally Posted: 01/21/2012)
I have an exploding offer from CS. Should I email GS/MS and say that I've got an exploding offer but would like a chance to interview with them?
Yes, but don't let too much time pass lest CS figure out what you're doing.
Youre lucky to have an offer period in this market. You can try but i would strongly suggest just taking the CS offer before it is rescinded
It's fine to do that, no real risk as long as you don't have to ask for an extension. If you have contacts at CS that can help you get into one of your preferred groups I'd just take CS though.
Also, didn't you post this same topic a while back saying you were a sophomore? As a sophomore you should be even happier to get an offer from any BB, even in the best of times almost all offers are reserved exclusively for juniors. Interning at CS as a sophomore will set you up to interview anywhere you want as a junior, so I wouldn't worry to much about getting into GS/MS right now.
Always leverage your offers...but do it in a polite way.
You are a sophomore. Goldman has already wrapped up its accelerated processes (and that's where most sophomores who get in get in) and their OCR deadlines at all target schools typically are the second or third week of January. Morgan's got a sophomore rotational banking program but it's capped at only 10 kids a year.
Take your Credit offer. That on your resume as a sophomore will put you in a very strong position next year.
Leveraging an offer (Originally Posted: 08/18/2010)
I will try to leave out the details and get down to the main point. If anyone wants more color and thinks it will help in giving the proper advice, please feel free to ask.
Final round interview at 2 firms. Got an offer at firm A, which is my second choice. At firm B (my first choice) the decision maker said he is interested, but needs to finish the interview process with a couple other candidates and that process will be done by the first week of September. Firm B knows I am interviewing at other firms and I told firm B I would let them know if I get an offer because (this is according to the decision maker) it might “force their hand”. How should I script an e-mail notifying the decision maker at firm B that I got an offer, but would prefer to work at his firm?
Thanks.
Vertigo - I don't need anyone to write my e-mails. Just am looking for thoughts and opinions; hence, asking people on a forum.
Thanks.
There is no need to beat around the bush or try to be coy. Simply put, you want to work at Firm B, so tell Firm B that Firm A has made you an offer that is exploding by X (give yourself an extra 1-3 days at least just for a cushion) and although it is a great opportunity you feel the fit and experience will be much better at firm B. Then let them know that you appreciate their consideration and want to know if there is anything else they need ahead of making a final decision on your candidacy. Something along those lines, give or take a sentence or 2, should suffice and get you a response.
Tell them firm A's offering a signing bonus that is 5k more than what it really is so you end up with some extra cash :)
Let the other firm know, but be smart about it. Unless you are an experienced hire with tangible skills you are not going to want to press them too hard. Just let them know they are your 1st choice and the other company is pressing you for an answer.
I was once in this exact scenario. I had the offer from my 2nd favorite choice. I emailed the recruiting contact at #1 choice bank, telling her my dilemma. She shot back a quick email saying that she would be in touch no later than a specific date. I gave her a call later in the afternoon on that day (she hadn't called all day and I was basically waiting by the phone).
She said that she was waiting for one more approval, that she couldn't say anything, and that she would call me tomorrow at the moment she heard. It seemed pretty positive, although these recruiters will never ever tell you until they 100% have approval.
She called the next day and extended me an offer. Keeping my end of the bargain (I had told her they were my #1 choice!), I verbally accepted on the spot. (assuming that nothing was glaringly wrong with my offer, of course)
Thanks for the comments everyone. They are much appreciated and verify what I was thinking.
@Anthony - I am an experiencedhire. 2 years working at a BB.
@southernbelle - I hope the same thing that happened to you, happens to me! :)
Leveraging Offer (Originally Posted: 08/22/2007)
If I am trying to leverage my offer and get interviews with other shops, how do I approach other banks? Do I just shoot an email to the HRs telling that that I have been interning at XX bank? How do I make this clear? Thank you!
No.
Put it on your resume, apply to other places, talk about it during interviews.
But I should still directly approach the HRs, right? I would assume that if I applied through the online resume drop, nobody would even look (although that's how I got my current internship)
Yeah, approach the HRs, tell them your background, but don't go overboard. Be discreet.
should the fact that you received an offer to return be on your resume or is this frowned upon?
Approach other banks with an email / phone call to HR (or a contact within the bank) saying that you have an exploding offer from another bank but you are very keen to work for their bank and need to make a decision about the exploding offer in the next week... That should get you in for interviews shortly after that.
How to Leverage an Offer (Originally Posted: 10/26/2007)
Hey everyone,
I have an offer from Goldman but still have interviews set up at Bear, JPM, and Lehman.
How can I go about leveraging the offer at Goldman for offers at the other banks?
Do I just come out and say, "I have an offer from Goldman, what can you do to make me come here?" Wouldn't they say "well if you have an offer at Goldman why would you want to work here?" and if I say "well my first choice is here then wouldn't their response be something like "well if your 1st choice is here then come work here for the same/less money.
So, what's the best way of leveraging my current offer?
I thought most places ..... especially lehman were full....... and again I am not sure why you are looking at those places above goldman (unless its a group or culture issue). But you really do not need to bring it up because in the interview they will. Without fail if you have a Goldman Sachs Investment banking or wutever as your summer internship they will certainly ask you if you have an offer.... I would hesitate on then making a comment such as "what will you give me to come here".... I am not sure if anyone respond well to that cause I doubt they really much care what a college senior has to offer especially if they take an attitude like that going in. I would merely state you have the offer to return and if they ask you why you are not returning then either give reasons sucha as "Well I like your firm for xyz and have an interest in your _______ group" or "I really enjoyed my time there, but I had a few issues with a certain individual in the group that I didn't like their work ethic" or wutever thing you want to give.....
why do you care about the other banks? take GS unless you absolutely hate the place. then, stop interviewing and enjoy the rest of college. quit trying to rack up offers.
The only reason I'm still interviewing is b/c the GS offer is in their Investment Management Controllers group and at Bear I'm interviewing for Prime Brokerage and at Lehman for Credit Risk Analyst.
I want to see if these are better opportunities than the GS one since controllers wasn't really where I wanted to go.
I had an internship at Bear last summer but the division (ops) doesn't extend FT offers to interns.
The CRA guys at Lehman don't give a crap if you have a controllers offer at GS and the Bear brokerage guys won't either. They're different industries. Just like nobody would give a crap at CS investment banking if you had an offer to work PWM at GS.
EDIT- in fact, thinking about it more, it will probably only hurt you MORE. If you go to Lehman and say you are thinking of going to be a controller at G/S it shows you really have no clue what kind of job you want to have coming out of college. Brokerage, credit risk, and controllers positions are completely different from each other; BBs want to hire people who know exactly what they are getting into and want to do that, rather than see a kid who is just trying to pimp himself out to get the best name on his resume, regardless of the position he is taking with them. This is the same reason why nobody applies to multiple positions at the same bank; it shows you lack direction in your career interests.
Don't get into specifics about your GS offer. I would simply communicate that you have an exploding offer at GS but are still interested in going through the interview process with each bank. Above all else, do not treat the banks as if they need to sell you - this just pisses people off.
well, the thing is is that it's not a plain-old vanilla controllers job b/c originally when i heard controllers i was like screw that i dont want to do accounting but this is within the investment management group doing the valuations for GS's hedge funds and mutual funds.
i think i'd take the GS job over the Bear one but not sure about Lehman.
what do you guys think?
GS's offer is 60+10+OT+yr-end bonus
GS seems like a good stint mate. take it
Ok, so I called Lehman and said I had the exploding offer from Goldman on the 6th and the guy I spoke to said he'll see if he can push it up.
Now, what if they say they can't push it up, I'm going to be put in a tough spot b/c I'm not going back to Goldman and saying I need an extension, so basically I'll have to accept Goldman and go to Lehman and interview anyway.
But, the problem is, what if I go to the Lehman interviews and someone says to me, "so I heard you had that exploding offer from Goldman on the 6th, what did you do about that?" What am I supposed to do? Tell them I accepted it and am interviewing anyway? Lie and say I rejected them and then have them call up Goldman and ask and I"ll be screwed???
This can end VERY badly!!
What do you guys think I should do in this scenario?
Don't say anythng concrete.
If they push you, say you got an extension. People don't care as much as you might think.
MSG...just out of curiousity, when did you get an offer? shortly after the superday? I recently had an IMD superday in NY and interviewed with a few groups and am waiting on hearing back. Did you interview with numerous groups within IMD after the morning superday?? I really hit it off with one group in particular and am hoping to hear back soon. thanks for the help
Hey Polarbear... I actually interviewed within controllers for the controllers analyst and was placed within IMD. The superday was Friday and I got the call on Tuesday.
I sent thank-you emails right after the superday interviews and the one guy who got back to me was the guy from IMD and he requested me to work for his group and he actually called on the day after I got the offer to congratulate me and invite me in to meet everyone on the team.
how to best leverage a ft offer (Originally Posted: 09/09/2011)
I busted my ass at a prop shop this summer and just got my ft offer! It's one of the better ones so I wouldn't mind working there at all, but I want to leave my options open.
Will having the offer give me a step up on the competition? Also how do I let them know (or do I let them know?) that I have the offer? Should I put it on my resume or just wait for them to ask me?
Additionally, the response deadline is in November, which is pretty soon - this is why I want to let them know that I have a ft offer with a hard deadline. How do I go about doing that?
Thanks guys!
Congrats man...I cant say i know thr answer but good work
Leveraging an Offer (Originally Posted: 08/26/2010)
So I, like most other interns on here, just received an offer today. As far as leveraging the offer, i.e. going from a mid-level BB to a top tier (GS, MS, JP), what would be the best way to go about doing this? I mean obviously, you shouldn't just call alumni at the shop you're targeting and be like, "Look, these chumps at mid-tier BB just gave me an offer, but I'm tryna upgrade. So hows about it?" or is that what I should do?
Obviously I was being a little bit sarcastic there, but if you emailed or called and said you wanted to explore other options or whatever, would that work to get accelerated interviews, or how does this work?
Thanks in advance.
Just say stuff like..
hi, i recently recevived an offer from xyz for their abc position. obviously your firm are my top choice, and i was wondering if you can give me an update on the status of my application..etc..
don't worry, most BB will work with you to speed up your interview. they might also want you more, knowing someone else want you as well.. (depends on who, of course).
Good Luck!
Leveraging candidacy in other interviews to secure offer? (Originally Posted: 04/24/2015)
Hey all,
In a scenario where you've just completed the final round for both a position you know you want, and a solid alternative position, would it be taking it too far to email the interviewer and hint that you are interviewing with others, to speed up any potential offers? Also how would I say it?
For example I was thinking something along the lines of...
Hi ________
Thank you for taking the time to meet with me yesterday etc. etc..
I would also like to take this opportunity to inquire about when I should expect to hear back regarding the next steps as your organization is my first choice.
Or, am I an idiot?
thanks
If you have an offer, but want something more, definitely call them up. Say i have X, let me know what you can do.
Agreed. Once you have an offer in hand for another position it's more than fair to call them up and let them know that while you have an offer their position is your first choice. Short of that though, I wouldn't get cute with any innuendo about other interviews.
Cheers
Excuse the ignorance but would you contact HR or your interviewers with the offer information?
If you have an HR contact I would start with that.
Cheers
always do this. Honestly at this point in the hiring cycle you may want to hint at alternative offers even if you dont have one. It will only make employers take you more seriously and pursue your candidacy quicker.
Leveraging Offers (Originally Posted: 03/25/2010)
I have a BB I-Banking offer for this summer, but I want to try to leverage my offer for another bank. I have heard about accelerated interviews, but I am unsure about how to go about getting those. My questions is how do I try to network without tipping off my bank that I might be trying to move. I have heard that i-banking is a small community and that word can get out pretty quickly. I definitely want to try and get a full time offer from my bank, but I would prefer to move if I can. Before anybody flames me, this is not b/c I am ungrateful but rather b/c the outlook for the group I got into is very grim. Any advice!?!
Thank you in advance.
Yes finance in general is a VERY small world/niche. If the other banks didn't take you a month ago, why would they want you now? If you really want the other bank, I would contact them and just say your really interested and wanted to know if there were any SA positions still open. DONT bring up that you have an offer until they ask you. Whatever you do, dont lie.
I received an exploding offer from my current bank. Summer offers are out and, in general, interviews are over for BB. I am focusing on trying to set up full time interviews. Instead of talking with recruiters (I am from a non-target), I was thinking about focusing on analysts/associates and getting a conversation going with them. Then, when the time comes, ask them if they wouldn't mind forwarding my resume for full time consideration.
Don't be greedy - it will come back to bite you
Do you SA program, get the FT offer, then start shopping if you want to.
Fine line between networking (which is perfectly fine) and seeming like you're shopping already. Accelerated interviews for FT aren't until towards the end of summer anyway.
Need Advice: Leverage an offer in another Interview? (Originally Posted: 03/18/2012)
Hey guys,
Need some advice as to what I should do.
Basically, I've received an offer for a middle/back-office support gig at a BB. I was just contacted by another BB for a phone interview for a very similar position as the first.
I have no preferences as to which bank I want to work for right now. I guess that means that compensation would be the deciding factor (assuming I get the 2nd offer).
Anyways, is it wise to subtly mention in my initial interview that I've already received an offer for the same position at another bank, but would really love to work for (2nd bank), etc, etc, to speed up the process and perhaps make me a more attractive candidate? Or would doing so reflect poorly on myself?
Ultimately, i want to find out how much the 2nd bank pays and the job details asap so I can minimize the damage done if i were to decline my first offer.
Thanks in advance!
In most interviews I've had, they ask where I am in the process with other companies, so I don't think it would be inappropriate to mention. I wouldn't use it as a way to make yourself appear more attractive. Instead, think of it as giving the second bank a fair shot. Any chance you can also work with the 1st bank to get a little bit of extra time to consider their offer? It probably wouldn't hurt to ask.
Thanks for the advice. Is it a complete NO to ask about compensation in our initial chat (phone interview)? I figure that if the comp is lower than my first offer, there's no point in going onto the next round.
Absolutely....leverage all offers
How powerful is having a FT offer (leverage)? (Originally Posted: 04/07/2012)
So exactly how powerful is having a ft offer? Here's my dilemma:
Growth equity vs. boutique mm ib, m&a.
If I make the ib gig my bitch, I might get an offer (although they said it's uncommon). There's no reasonable way I can get an offer from the growth equity shop. The growth equity fund is moderately reputable (~600 mm, decent flow), and the boutique is a little no-name (still a few good recent transactions though).
I've already done m&a at a boutique before, so I don't know whether or not that really adds to my resume.
Assuming I get FT at the boutique mm ib shop, would it be better to go ib or growth equity this summer? (Also assuming I want to keep my BB/Elite Boutique options open, although I probably want to go into growth equity/private equity in the long run. Possibly HF. Again, college student, not quite positive).
Thanks a bunch. Please feel free to enlighten me.
Best BankingWaffle
Why are they hiring an interm if there's no FT opportunity?
OP, when it comes time for FT recruiting, having an offer can be a powerful tool:
Shows that you're competent enough for at least one employer to hire you on
Insurance. Assuming the offer isn't exploding any time soon, it's good to know that at the very least, you've got an offer and will have work after you graduate.
Garnering FT interviews is much easier with an offer since you can just go up to recruiters at info sessions or career fairs/connections at banks and say that you have an offer from X but would like the opportunity to recruit with their bank, hopefully on an accelerated basis since your offer expires on whatever date. My offer was exploding, and this was a really productive way to get interviews for me.
Note that FT recruiting is pretty hard, though. There are fewer slots, and you're expected to know your stuff better.
Hope this was helpful.
Cheap labor, extra work that doesn't justify another full-time associate, my guess.
Exploding Offer Question (Originally Posted: 10/10/2014)
Lets say I have an offer that expires in a week. Have been talking to a BB and was told i'd get an interview, just waiting on headcount numbers. Can a BB's HR expedite their FT analyst process that quickly?
If they really want to, but they may not be so inclined - assuming this is a stupid question, but do they know exactly when your offer expires?
Thanks for the response. And yes they do. Planning on calling HR on Monday after no response to emails
You should probably take the exploding offer. BB recruiting at this time of year is very erratic from what I've seen.
How to leverage multiple offers for $$$ (Originally Posted: 04/08/2015)
Hi guys, I'm looking for some advice related to leveraging multiple offers in order to get some money from my target school. I have offers from 4 schools, all in the top 15, but none of them offered me any money with the exception of the lowest ranked school (only gave me $10,000). I'm not sure how to spin this and I'm not entirely sure how I should phrase the request for additional aid.
Any help in this matter would be greatly appreciated.
judge it by your situation
say if Harvard sends you admit but.... say Tulsa sends you a good scholarship check---Harvard probably won't care.
However if UPenn sends out a nice check--wouldn't that be more convincing?
Next, talk about a range, dont' suggest a firm number. It seems that you will be asking for less, but it actually helps you more to get success.
I thought you were an MSF student?
Very observant. Yes, I'm trying to help someone that I know.
mention i have another offer? (Originally Posted: 04/28/2008)
I'm applying for a mid market SA position where I have a contact. After I submit my application do you think it would be allright to mention "that I have another offer at a pe firm but that I'm looking for IB work this summer", in a follow up email to my contact?
I don't think it will make much of a difference but it may add some "credibility" since I am only a sophomore and they are targeting juniors.
if this is true, why would you take MM IB over PE anyway?
It would be alright, but will have a different level of weight based on what kind of PE firm gave you an offer.
If the fund is $1B+ in AUM, then I'd actually highly recommend taking the PE offer over the MM IM(your chances of doing meaningful work are better) unless we're talking about a decently reputable MM and not just a random boutique.
"If the fund is $1B+ in AUM, then I'd actually highly recommend taking the PE offer over the MM IM"
yeah for sure, but it's not that big. The Toronto PE scene is nowhere near as developed as New York. In New York a fund with $1B AUM is considered Mid-cap, in Toronto it would actually be one of the top PE funds and most likely a top destination by graduating IBD analysts.
joefish, the pe fund is pretty flexible so I might actually try and do both in one summer if I can get the gig. I need to make up for a less than stellar gpa.
I'm doing two placements this summer as well.
If you can somehow do both, that would be great!
Leveraging Summer Offers (Originally Posted: 02/28/2007)
If I have multiple summer offers it possible to leverage them to try and get placed into a specific group, or is this only going to create badwill?
Also, who should I contact about this, people I have met in a specific group, or HR?
This is for JPM and Citigroup.
I'm exactly the same situation with Citi, CS and Merrill, any input would be great here! Any advice in picking?
From my experience in the past month, it only works when you are trading downward or between equals. For example, let's say you have an offer at one Tier 1 firm, and one Tier 2 firm.
Tier 2 wants you to sign even more now because they know you are good enough to get into Tier 1, so they have people from groups you want to get into call you and make promises that you will be placed into the group of your choice. Tier 1 firm tells you they want you here, but not bad enough to promise you a group (since they know they are your best offer).
Keep in mind though that no matter how hard I tried, people would "promise" that they would do their best to get me into group X, but no one would ever commit to it in writing.
True, no matter what people say, there is not a 100% chance you will get into the group of your choice. IMHO, the group you're placed in as a summer is really not that big of a deal. It's only 10 weeks. My advice: take your top choice offer, perform well no matter what group you're placed in. This will give you more leverage when getting placed for full-time.
"My advice: take your top choice offer, perform well no matter what group you're placed in."
This is incredibly sound advice, your internship doesnt matter that much, just be sure to impress all those you work with and you will have your pick of litter come time to decide upon full-time.
i disagree
group is very important
obviously anything in GS IBD is better than Wachovia
but between similar firms, like Citi and JPM, u should go to the best group
i stand by my original point
group may be important for full time, but even then I think being at the top of your analyst class is more important. but as a summer, group is not really important
I also think you should be thankful for a summer internship and focus on getting the full-time offer rather than worry about exit opps
How to leverage offers into groups? (Originally Posted: 02/23/2010)
if I have an offer with two firms, how do I leverage Firm A offer into getting in the M&A/sponsors/good groups at Firm B? Do I tell HR I'm having trouble deciding and I'm really interested in M&A, or should i be more/less subtle? i have a contact at Firm B but he is not in my interested group. Thanks!
Doesn't usually work that way, HR has little say in group placement so I think you'd just piss them off. Just network ur ass off with the groups you want and take the better bank.
Placement comes after you join - the time lag will make it impossible
unless u kno ppl
Need Advice. Telling a company about a job offer. (Originally Posted: 03/06/2014)
Let's hypothetically say you have a job offer from company A and you are also interviewing with company B before responding to company A telling them whether you accept or decline their offer. You reasonably tell company B that you need to know by a certain date because you have an offer that is exploding. Company B then asks you who company A is and where they are located. How do you respond to this?
You tell them who company A is and where they are located? What exactly is your dilemma
If company A found out about it, wouldnt they be pissed?
also is that odd for company B to do? theyre the only firm whose ever asked me this
Sharing name of company when leveraging offer (Originally Posted: 08/17/2017)
I received an offer from an elite boutique firm and have to decide on the offer soon so I reached out to other firms I applied to telling them I am subject to exploding offers. The firms came back to me asking where the offer is from. Is there any risk associated with giving the name away in terms of the company finding out I am trying to leverage the offer and potentially rescinding or should I give the name?
I'm just guessing here since I've never been in that situation, but maybe say it's an Elite Boutique. This way they'll know it's a Lazard/Rothschild/Jefferies type firm.
You can tell them where. The offer has been extended, nobody is going to rescind it just because you played your hand at other places respectfully. They only care if you renege or lie, not if you play the game.
Agreed, there was a thread identical to this one. Basically, everyone said that you should tell them the name especially if it is an elite boutique.
Link
Isn't this a given if someone checks your LinkedIn per se? Just curious
My experience has been that they'll ask for a name 100% of the time.
Have an offer elsewhere...quit or leverage? (Originally Posted: 01/19/2011)
As I've posted previously, I'm a 1st year analyst who has received an offer at another (bigger, better) bank. I want to change cities and with an offer in hand plan to speak to my group head (with whom I have a good relationship...I'm on the trading floor so we work somewhat closely, unlike in banking groups) who has a fair amount of clout in the firm. Problem is I really like my job and my co-workers; just not where I live.
I'm wondering if it's a good idea to try to leverage my offer into a more desirable location/group in my current firm, or if doing so effectively screws me over here (i.e. held back from responsibilities and/or advancement) and I'm better off just quitting and taking the other job in the better city. Anybody have any advice?
would like to hear the responses to this, as i find my self in a similar situation
Don't leverage openly, just ask for what you want and see what your boss says. People generally don't like ultimatums, especially if you are working at a place where a group is pretty close-knit.
Well, that's what I plan on doing...saying I want to move to a more preferred location/group and gauging the response. Chances are his answer will be "not now, but maybe in a year or two", which is pretty uncertain, at which point I'll have to say I have an offer on the table. I really don't want to use it as a threat though -- I'd rather stay at my current firm but need certainty I could move relatively soon.
if he tells you "not now, maybe in a year or two" it is not "uncertain", it's a "no, get back to work". Is the other job in the city you want to be in?
Yes, it is. Basically, I am not in NYC (though in an HQ city for my bank) and all my friends are in NYC.
I had a friend with an offer from another firm (same city) (trading/same desk on the new offer), and when she presented her resignation they basically refused to accept it and literally sat her down for two days trying to bribe her to stay. not first year of course. the point is, they know what they have to do to keep you with them. they have been through it before. just remind them how much you like them etc etc ... but the tipping factor is really the city. you have no guarantee your boss will be there in 2 yrs so why would you accept some vague promise.. and when you do leave... you can refer me to the desk where your spot is open. = )
The other half of my question hasn't been answered -- how good an idea is it to stay after they've found out I've been interviewing (and have an offer elsewhere)?
If you tell them what they want, and they give it to you, obviously they want to keep you. If they're not willing to match, then it is definitely time to gtfo of Dodge.
ask you present firm for a counteroffer which you shop back to the hiring firm, assuming counteroffer is bigger by any appreciable %. if not, take the offer. it's that simple.
then just ask your group head for a transfer, raise(to accommodate the increase in the cost of living XD) and a recommendation, and if he can't or doesn't want to let you "spread your wings", then take the other job. Keep in mind, he may be totally willing but not able to plug you, and what are you going to do then? Figure out your own priorities and don't get caught up in the emotions of the moment. Another point to consider - which bank will enable you to build a better resume? if the smaller, worse bank gives you big projects and positions you as the rising star, then that does way more for your personal brand than being associated with a bigger better bank (without as much responsibility). You personal brand and your personal equity is much closer correlated with your earning capacity than the brand of the company you work for. Can your boss help you get placed into a better group in NYC than what the bigger better bank is placing you in?
I wouldnt take the culture into consideration, if you are going to transfer to the NYC branch of your current company, it's not like you can take your current coworkers with you, you will essentially be starting in a new place, possibly with a different culture from what you are used to, and I would imagine you wouldn't be as interested in making friends with your coworkers, because you will have your old friends to hang with.
i highly doubt there will be a drawn out bidding war for a first year analyst, hard-ass negotiating is good when you have a lot of projects (and money) depending on you being there, and the company won't be able to find a quick replacement. Counter-counter-offering in his position will most likely lead to him getting let go from the current bank, and having his offer rescinded by the bigger better bank.
Advice Needed - Leveraging Offers (Originally Posted: 11/28/2016)
Hi,
I recently received an IBD offer for a lower tier BB and would like to leverage it for an IBD offer at one of GS/MS/JPM. I recently met this MD at one of these firms and hit it off with him. How should I go about doing this, should I tell the MD of my offer directly or should I go through HR - I've heard varying things on which is more appropriate? I do want to do this in the most risk less way possible but yet still get my situation in the hands of the right people.
I think that the only times that "leveraging an offer" is appropriate would be when asked about it during an interview and if you are (kindly) asking another bank to speed up their process. If during an interview you're asked if you have offers at other places, do mention if you have any outstanding offers. If you have an exploding offer from Bank A and are waiting for superday results from Bank B, do send a short and friendly note to HR from Bank B explaining the situation and asking when you might expect to hear back from Bank B. But, what you (and almost everyone else who asks this) are thinking of doing is inappropriate. The hiring process is not the same as the car buying process- you cannot just take an offer from one place and ask the next place to match it.
I would recommend emailing the MD and reiterating your interest in his/her bank and asking how you can best position yourself for recruiting. I would not bring up your offer. Mentioning your offer gives the wrong impression. Good luck.
How do I use one offer to make myself more attractive for another offer? (Originally Posted: 05/04/2009)
Today, I received an offer to intern at a regional research boutique (not my dream job, but something's better than nothing). The recruiter asked that I contact him to work out offer details (start date, pay, etc.), and I feel obliged to contact him soon given that final exams are done at the end of next week.
I have one other internship prospect that I am much more interested in (investment banking position at a regional boutique). Last Wednesday, the recruiter told me that he was looking through resumes and would get back to me shortly for interviews.
My plan is to send the recruiter an email explaining that I have an offer on the table and would like to know where I stand in their recruiting process. I think by saying I have another offer, I'll appear more attractive.
My question to all you WSO'ers is: how do I word the email? Should I say I have an offer at a regional research boutique, or should I be more vague and just say I have an offer for a finance position? My concern is that equity research won't carry much weight (maybe even hurt me), so it might be in my best interest to leave it a mystery.
What are your thoughts? Any insight would be greatly appreciated.
Thanks!
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