Strategy - Usual strategy?
Through an accelerated interview i have an SA offer at UBS/Citi that explodes soon. There's not enough time to shop it around.
I'm not trying to turn this into another 'what should i do' thread, i'm asking for what the usual strategy is here among monkeys.
- do you accept, keep interviewing (not telling other banks you have signed) and then renege?
- do you ask for an extension?
i guess this is a what do i do, i'm just looking for strategy and what's worked before to get into a better bank.
What are your other options? I would probably take citi though.
Take the Citi offer and don't think anymore about it. It is a SA position, not FT.
ok and if it was UBS? everyone's said UBS NY IBD is a sinking ship.
Probably interview elsewhere, its nowhere what it used to be.
so the strategy among monkeys is to accept then renege? not take the risk of straight turning it down?
No. the strategy is to ask for an extension (really only legitimate if you're somewhere in the process with another bank) and if not jut accept and sit tight. It's just SA and you don't want to be blacklisted from HR as a kid who reneged SA when FT comes around.
oh ok. now my question is this:
the whole point of an exploding offer is to make you sign...how exactly do you ask for an extension? if you say you're in the process with another firm, doesn't that basically translate into "i'm trying to get this other SA gig, can you give me some more time to keep you as plan B"?
^^ true.. word will get out that you renege. you also run a risk because you are screwed if you don't get a return offer from ur SA since everyone will know you as the kid that reneged and didn't get a return offer.
take a ubs/citi SA gig and try interviewing around for FT?
You have a SA offer from two BB's. Just accept the Citi and be done with it. What you can do is keep networking and doing informational meetings with individuals. Tell them about your Citi SA and ask them what you can do to maximize the experience. Exploding offer = no extension. If you keep interviewing you risk being black listed. Whether UBS is a sinking ship or not is debatable, but for just a summer gig either bank will be fine. Look at the people you will be working with. Citi might be in a better position, but if you are getting coffee and bagels all summer it wont really benefit you at all.
For the younger members on this board, if you read a lot of the threads you will come upon a common theme. You can't plan out every single move in your life, things just don't happen like that. Make intelligent decisions and just be flexible enough to roll with the punches. Think about how many people went with Bear Sterns or Lehman over a MM or lesser BB and then had their offers rescinded. Sometimes you can't predict the future.
well i have a ubs OR citi, but yeah, i think that's my move for now. take the offer, stay interested with other firms, and see how it goes for FT.
Dude everyone fucking knows you have a ubs offer which is about to explode..not a citi offer. Just take the ubs offer and network for full time.
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