Exploding Offer Dilemma
Hey guys. I'm currently a Junior and in a situation where I'm facing an exploding deadline from a great MM firm (think HL, HW, Baird, Blair) in a regional office. However, I have a lot of interviews in a few weeks for OCR with lots of great places (a few EB's like Evercore and Rothschild and a lot of other solid firms like RBC and Jefferies), but the interviews occur after my offer deadline. Ultimately, I would want to go into MM PE, and I think the place I got an offer at would be great preparation for that. Additionally, I love the people I met with. The biggest deal-breaker is probably the location.
If you guys were in my shoes, what do you think you would do? I wonder if I'm in a situation where a bird in hand is greater than 2 in the bush. Problem is, I have a lot more than 2 in the bush.
I appreciate any advice I could get!
Any chance you can expedite the processes at the other places? To be perfectly honest with you in your scenario (if you can't expedite any processes) it depends on how confident you are on a) converting an offer and b) how sure you are you'll prefer another offer given you love the people here and believe it will get you to MM PE as you want.
If I were you, I would (in order):
1) Try to expedite the process with other firms 2) Accept the offer, work for the summer but keep in touch with the other banks and recruit elsewhere FT if you want to - this could be the best option because you could actually try out this bank. 3) If you're very risk-averse and aren't confident about converting interviews to an offer at a better bank, but you really want to go elsewhere, consider accepting, interviewing and reneging if necessary.
There is no issue here. You take the offer at the MM bank. Then interview for the other companies and if you get anything better you just drop the first offer you had.
Isn't that unethical? My school is very big on not reneging, and they say that they will take away on-campus recruiting privileges if we do.
I second this opinion.
This won't go over well; however, it's your life and your career, so focus on what is best for YOU. I would recommend working at the most prestigious firm possible as an analyst, as that will open up more opportunities for you. You might not realize this now, but the first few years of your career will have a huge impact on where you will be able to go over the next 10+ years.
Also...if you choose to renege, you can always cite "family reasons," i.e., your girlfriend or fiancé got a great offer in [insert city here, assuming its a different city]. I've seen a number of people use this line; and even if your renege pisses people off, it's ultimately hard to really criticize people who make decisions based on what is best for their family.
First thing you should look to do is extend your deadline for the MM offer. If you can't, then take it. 100% certainty is always the best option. If you can extend the offer deadline feel free to interview at the EBs, where you can perform under little pressure. Best of luck, hope this helps!
Just say you want interview experiences so you can polish all of your quirks for future interviews and, because your school is so big on "not disrespecting the man", tell them you wanted to take it to avoid declining and making your school look bad in the event that too many students decline due to exploding offers elsewhere.
I second the sentiments above. Definitely try and push the deadline back. If that is not at all possible, you take it and keep interviewing. I was in your situatiom last year but for FT Recruiting. I had a top MM IBD postion (Jefferies, HL, WF), decided to take it, leveraged my cards and am now at a top BB (GS/JPM/MS). My nontarget school is very big on not reneging as it "hurts recruiting" but the firm I reneged still visits campus (took 2 kids this year), my current firm now recruits more heavily due to a strong track record of analysts in the past 10 years, and I get emails to talk on campus due to being at a great firm. In the end, if you get the best offer you can get, it works great for everyone. Youre only doing yourself and the firm you currently have an offer with injustice if you take the job and ultimately regret not gauging "better opportunities" (subjective due to what you want, ie the culture which you seem to like a lot at your firm).
Good luck!
Thanks everyone for all the great advice. I think I'm in a position where I can't ethically bring myself to reneging. I know it might put me in a better situation, but I just can't see myself doing that.
Plus, I still think this would be a great place to work for long-term prospects. This particular firm is very big on helping people place into PE (if that gives anything away), and if that's where I ultimately want to end up, then I am not sure if being at another place would be that much better for me. Sure, I will be throwing out any possibility of being at a KKR or Apollo type of place (which is a long shot anyways), but at least I will be in great shape as far as middle market PE goes. In your opinion, do you think having an opportunity to work at an Evercore or Rothschild will be worth reneging, even though the place I have the offer at would still put me in great shape for PE?
And of course, I really enjoyed the people I met, which is one of the most important things.
I think that's the right attitude to have on it. Plus, switching firms from SA to FT is very doable with the right networking given you'll be at a top MM doing banking over the summer. I'm speaking from experience on that one. If this was for FT, I'd definitely agree with everyone else saying to renege but I don't know if it's worth it for SA. Just my take though...
Definitely a difficult situation, so I very much sympathize
Just a clarification. This is not an ethic issue. There is nothing not ethic in taking your best option. Investment banks do not think about ethic when they fire people and HW knows that it is part of the game to lose people to GS, JPM and MS. You need to take the best decisione for you and not overthinking about ethic or school. As long as you end up in a good shop, your school will be there asking for your help to place more people. You have the power, not the school.
If my school finds out I renege, I lose all of my on-campus recruiting privileges and could jeopardize both offers (they are extremely strict on this, and I've heard horror stories). Maybe my school is just trying to scare me, but I really don't want to fuck myself over.
Additionally, I don't have any interviews with GS, JPM, or MS. I have some with 2 EBs (which I think will be a long shot, to be honest, since they take maybe 1 or 2 people from my school a year), a few other firms like Jefferies and RBC, and other solid boutiques/middle markets. If I don't get one of the EBs, do you think it would be worth it to take a Jefferies or RBC over the firm I have an offer from?
Additionally, if I keep in contact with them, maybe I could try and recruit full-time. Sorry for disagreeing, but I have heard bad stories at my school and really don't want to screw myself over. Oh, and Merry Christmas.
Reneging on a SA offer is not worth it if your school has penalized others in the past.
Take your current offer and focus on 1) getting a return offer and 2) networking for full time interviews. I can tell you from personal experience that I did much better in full time recruiting, both in quantity and quality.
If you are plugged in and proactive you will be fine for FT should you choose to interview. One caveat though as you mentioned Evercore, they were very aggressive this past season and had a full incoming analyst class secured by the end of August. Most firms however will have spots.
Agree with the last post. Also, since this is US centric, if you are considering to apply for MBA, mid market shop such as HW have strong track record in helping people to get in to HWS shools
Thanks again for your input. I can honestly say I have never had to make a tougher decision. At the end of the day, I just don't want to go through my life regretting my choice to completely give up the opportunity to have summered at an EB or a place like Jefferies. That said, I don't want to go through my life regretting the opportunity to work at a middle market sell-side M&A machine.
I think I am leaning towards accepting the offer, but I need to do a lot of thinking. Really, it is a good problem to have, and I should be happy to have an offer. It's just a matter of whether I think it's worth it to roll the dice.
Just accept the offer and continue interviewing. Worry about reneging / sticking to your firm when you have another offer on the table..
Take the MM offer. Work and network your tail off during the summer, get the return offer, and then shop it around. A return offer at any of the MM shops you mentioned will get you looks at the tier above. I know there's a lot out there that makes it seems like SA firm = FT firm or you're out of luck...but it's not difficult to switch firms after the summer stint. Lastly, regarding location, if it's Minneapolis and HL or HW then you'll be fine (although probably not preferred), headhunters and buyside firms are used to seeing great analysts come out of there. If it's Milwaukee and Baird, I'm not as familiar with how successful they've been with converting to the buyside but I'd personally push for their Chicago office.
Looks like we're talking about Baird Milwaukee. Honestly your shot at Evercore or other EBs is extremely low. Jefferies will probably be the only other firm that I would take over Baird.
If you're trying to not give specific details on which firm, i suggest you change up your other post in the PE forums.
I would not personally reneg on a SA offer given there is more downside than upside in this case. First of all you are a junior and still have a year of recruiting left, if you get banned from OCR and don't convert your internship to FT at the place you reneg your current offer for, you are screwed. There is also the chance this MM will raise hell and pull recruiting at your school if this sorta thing has happened in the past, you would be doubly screwed. I would accept your current offer if you cannot expedite interviews / ask for more time (your school should have a policy for how long you have to decide, I would cite that policy to MM and ask for additional time). Do a good job this summer, get the FT offer, and do accelerated interviewing with other banks and you will be in a great position.
accept the offer, go to the interviews and nail them, get offers, renegotiate the new offer from an internship to a full time position for next year (if possible)
Before you listen to the posters on this board telling you to accept the offer and renege for something better, you should take a look at the "reneging-on-an-already-accepted-internship-offer" thread (I can't post links but you can just Google it).
It appears kids have screwed themselves over pretty hard for reneging on both non-OCR and OCR summer analyst roles, ultimately ending up with nothing other than a tainted reputation and a worse internship. I have gotten anecdotes on both sides of the fence and its apparent that the downside far outweighs the upside in reneging an SA offer. I am in the same position as you and have abandoned the thought of reneging.
Personally, I would accept the MM offer and go through accelerated FT recruiting in August. Since you are already on these other banks' radars, you shouldn't have any problem landing accelerated interviews. In the worse case scenario, you have already set a good floor for yourself with a MM IBD position which sets you up well for your long-term goal.
Just to clarify, I reneged an internship offer at a MM bank and took a Tier 1 bank offer and now I am an analyst there. Both were non-OCR and in Europe.
There are definitely multiple sides, I personally know someone who reneged on an internship offer junior year and then reneged on a FT offer during senior year recruiting and nothing was ever relayed to career services. I also know of someone who reneged on a FT offer and had that bank pull recruiting from his school. OP has a solid MM offer in hand which he can leverage to a FT offer and accelerated interviews....his SA experience will be strong enough to land BB interviews if he has a solid resume. In this case the potential upside is just not worth the risk of being banned from OCR coupled with not converting the SA to FT. If this was for FT you could make a strong case for reneging but there is much more risk for SA.
I do agree. In Europe, there is no way they would stop recruiting from a given university or you would be black listed from any list (bank or university) so it would be risk-free. I understand that in the US it is different so I do agree he should go the safer way in this case.
Keep in mind that you're a junior looking for a SA role. I don't know about the dynamics at your school, but at mine there are plenty of people that shift around from MM to BB/EB when it comes to full-time recruiting. As long as you are a top performer at the MM with solid grades and a good resume, you likely will be able to move to a more preferred bank for full time. For the 3 or so months that your internship will be, its not worth it renege for a different bank, and possibly get cut off from OCR or even start cultivating a bad reputation at this MM firm - the community is very small and you don't want your first impression to be as a liar. Thats just my 2 cents worth.
Thanks for the input everyone; I really appreciate it! Like I said earlier, I don't think I would ever consider reneging. In fact, I have a good feeling that if I intern here I will really enjoy it, as I got along well with everyone I met with.
Exploding Offer (Originally Posted: 10/27/2017)
Hey everyone,
So, I am in a situation where I have an exploding offer from a BB, but I also interviewed with another BB for Risk, and I like the risk one better and would like to see if I received the offer for Risk.
I mentioned to the HR that I have another offer and now they are asking me to get an extension for the other offer so they can accommodate me.
I do not want to risk it with the offer I already have. I am afraid that if I ask for an extension they might rescind the offer. What should I do here??? Should I accept the offer I have (not risk)??
Any help would be appreciated.
Thank you.
Welcome to life, basically where all options on the table are difficult ones to make
In anycase, it really will depend on your personal preference. I suggest jot down the pros and cons and weigh your choices carefully. I note that choices here are not necessarily binary, though an exploding offer would suggest one.
Thanks for the reply. I think risk will be the better opportunity for me because this is something I want to do in the long-run. I am from a non-target where not a lot of people receive BB offers.
My only concern is that even if I do take the risk and try to ask for an extension there is no guarantee for me that I will receive an offer from the other BB. I still have to do the second round interview. I know it is in my hand to convert the offer but at the same time you never know.
What position is the offer?
It's back office
Generally it doesn't hurt to ask for an extension if you're polite about it. i.e. Reiterate that you're appreciative and excited about the opportunity in-hand and explain that you are currently in the middle of a process with another firm and that you're just hoping to finish the process so you can make a well-informed decision. Ask if it would be alright to extend it by X amount of time but note that you understand if not
I'm sure this approach has backfired on people, and in the worst case, I can imagine someone rescinding an offer, but I honestly don't think that's a reasonable risk to consider. If an employer resorts to those kinds of tactics, it's probably not a place you want to work anyhow
Most likely, they'll just say yes or no and that's ok
Ask for an extension, if they say no, accept and renege if necessary
Is it possible that they give me extension but rescind it a day or two later??? that is my biggest fair. that they might give me an extension but then a day or two later they rescind it.
I have no other offer on the table nor have any superdays scheduled. I know it is getting late in the interview process that is why I am not willing to take any risk with this offer.
and if I do take the renege path, do you think is it worth to renege a finance offer for risk off?
I would take the offer. This isn’t a question to me. Can you afford to be patient? As in lose both? Are you currently employed? Guessing no.
Accept the offer and renege if you get the risk job. People do it all the time. If you renege only a couple of weeks after you accept, they still have plenty of time to find another candidate. This will also help you relax in the risk interview, because you know you have an offer in hand no matter what. I wouldn’t worry about the consequences of reneging since you’re still young and the team that interviewed you will probably forget you exist after a year or two
Exploding offer help!!! (Originally Posted: 12/13/2013)
I have an exploding offer from BB (think CS, DB, Citi) S&T (Tokyo) but I have a final round with Elite boutique (think Lazard, Evercore, Centerview) (NYC) for the research associate position. I wouldn't mind living in Japan for few years but I do want to come back to US in the future. Considering future opportunities and exip ops which one should I go with - meaning I might have to accept the offer with BB and renege later if I decide to go with boutique or ask to accelerate the interview process at boutique mentioning exploding offer at BB. What should I do??
i'd renege. tokyo and NYC are worlds apart.
Some things to consider....
Moving to Tokyo- do you speak the language? You're probably going to have to assimilate to their culture to fit in meaning adopt all of their cultural ways and forget your own. I went to USC from Texas and could not stand the culture. I'm a Texas boy at heart. So something to consider....the culture. Also, do you know anyone there? What if you hate the job? Then your stuck in Tokyo where you might not know anyone with a job you hate. That would suck.
Pray about it. What does god want you to do, what is your calling?
If you want to go back to the states in the future it seems like you probably want to stay in states, if that's where your heart is. Once you get over there, how will you network with people for jobs back in the states? How will you interview for jobs in the states? Fly over to NY or wherever and then back? No way...You'd probably have to quit your job when you are ready to come home and then just be unemployed and then find a job. That wouldn't be good.
S&T or Research- Sales= constantly calling people all day long. Literally, 100 calls a day. Can you handle that? Day in and day out? I couldn't. Trading is an interest of mine. So I think that would be cool. I've also been trying to get into research for awhile but have had no luck. What a great job! Researching economics events and companies. You would get paid to think! That's what I love. Sales=paid to dial the phone and push people to sell products. Trading=probably a good job in my opinion. Who are you as a person. A thinker? Then go research. Extremely outgoing? Then sales. Don't fool yourself either. Cold calling sucks. I convinced myself I was outgoing and it has not served me well. I was in a frat and have friends like most people, but I am not a salesman/cold caller, I hated it. Trading= your in the markets, depending on the products. If youre going to work at a BB, you might be a salestrader which is a lot of dialing although it has aspects of being in the market. BB Trader? Your buying and selling on behalf of the company using your knowledge/dealflow. It takes years to get to this point.
Think about what would make you happy. Cold calling (sales), reading/writing (research), markets (trading).
Where are you from? Is money what you are going after? What do you want from life? What gifts has god granted you, and how do you plan to use them?
You clearly have no idea what someone working in sales at a bulge bracket does, so why even bother posting?
"what does god want you do to" lmao i see why you didn't fit in at USC
lol
you got it buddy. I'm from Texas son, the south will rise!!! Kidding...
haha why do you think that? I actually do...
I worked at Merrill and talked to a lot of the traders in the industry. I also worked at Advisors Asset Management. Traders, sales traders, and sales guys sat 15 feet from me. Many had worked at BB and transferred over. I also spent a lot of time with guy who worked at AAM closing a deal who worked at BNP Parabas, Fannie Mae, and other BB in S&T roles at the trader/director role. I have his number in my phone and talked to him periodically at work.
More importantly I was in sales at Merrill (BB) and Advisors Asset Management which is a boutique but many of the workers came from BB. So I don't know where you are coming from.
I've been in your position and networked with people at BB and learned how it all works, so I do know.
Good luck to you son. My advice to you, show and have some respect for people. I'm trying to help you out. You aren't going to get anywhere with the way you talk to people.
Good luck.
Thanks for that thorough insight @ColdCallCapt. Sorry you didn't like USC, (I actually transferred from there to a target in NY) Yeah the things you've mentioned are all very important to consider. Well to give you a bit of a background, I have lived & worked (different industry but sales role) in Japan prior coming to NY so I'm very familiar with the culture and the people. I don't think that would necessarily be the problem.
The reason I left Japan initially was because I felt stagnant, but I think if I work in banking it would be different, in terms of fast-paced environment, smart ppl etc.. I've been having a tough time finding a FO job in NY since I graduated in May, I started to think I'm not a good fit for US working culture.
I have done internships in the past on the trading floor and I don't really mind the work, my floor salespeople weren't cold calling all that much, I am not overly outgoing (in US standards, that's why I don't think I can do sales in US) but I think I can handle the work in Japan. I'd love to do research, and I'm hoping this one goes through but it's cutting it really close to my departure date.
I have prayed, prayed, prayed man but GOD is not giving me an answer that's why I'm pondering like this...
OP - a few things
1) Japan - is an extremely different environment. Since it's S&T,you may not necessarily speak Japanese (whereas in IB it's a must), but my guess is you probably do. If you don't, you'll find living there tough. The people are nice and trains/subways have English. But the large majority of the population do not speak it. So basic things like going to a restaurant, looking for directions, trying to describe a haircut style... from a long-term perspective, it can get irritating.
Also work culture is very different. What may fly in US may not in Japan. Asian work culture is not for everyone (speaking as an Asian who has experienced it). If you've lived in US all your life, even if you are Japanese or Asian descent, it will still be a shock.
EDIT: Just noticed you got in a post before my response about your familiarity with Japan. So ok, #1 doesn't apply as much to you.
2) Transitioning back to US from Japan - not sure about S&T, a markets role might be a bit more flexible. But I will say from an IB perspective, Japan is a very insulated market. I think you'll find it difficult to transition back after a few yrs exp without going through an MBA. If you plan on getting your MBA, then this could be a good opportunity to live and experience life in a different country and have some global experience to differentiate yourself. Otherwise, besides just the regional skill set difference, there's also a logistical difficulty of trying to interview with US firms while being on Japan timezone, or even convincing US firms to consider a candidate that's not on ground and can come into the office for an interview.
3) S&T vs. IB - Lastly, what do you like better? What is more interesting to you? What suits your personal strengths more? Which one allow you to build skill sets that will help you get closer to your LT goals in your career. They are very different, and speaking from experience, it's very difficult to pick one and then try to career switch into the other. (Doable, but difficult, and you waste some time doing so).
If your answers to my raised points are "ultimately I prefer being in the US and IB", then the answer is try to accelerate your interview process with the elite boutique - telling them you have an exploding BB offer will add to your appeal as a candidate.
Thanks for the detailed answer, given the circumstances I think I'll try my chances in the US for the time being and try to accelerate the process. +1
Your comment to me pissed me off, but I will forgive you lol. Don't be afraid. It will work out the way it's supposed to. Everything will be alright. lol
I worked in PWM and wholesaling. Good luck to you guys.
suck my dick reformed
It is relevant to this kids decision. He's deciding on whether going into S&T or other. Long term, what if he decides to go into S&T and ends up as a sales trader? He'd still have to call. What if the place is trying to grow its book? He'd still have to call...
Anyway, sorry I lashed out. But you kids are disrespectful, I'm trying to help this guy out....
I'm deleting my account, I don't appreciate getting crapped on when I am sharing information that is relevant and true.
Best of luck to you guys. May god have mercy on your souls lolol
3 Choices. Exploding offer (Originally Posted: 02/27/2018)
1) Finance Intern at F100 TMT Firm 2) Rotational Intern (Commodity Trading and Business Dev) 3) UNPAID 500M VC Firm Long term goal is VC. Short term goal is S & T or more physical trading. What would help me more going into Junior year recruiting?
I would go with the VC firm if your long term goal is to do VC. IMO it's the best option to get you to your short term goal as well. Being unpaid sucks but once you land a FT gig its not gonna matter much. I took an unpaid internship my fall semester junior year that was essential to landing my SA position. You can even spin it as showing passion for the industry that you turned down paid positions to work for free and learn as much as you can. This worked well for me in interviews anyway, but I am just a college kid so take it with a grain of salt.
thanks. My main fear is not being able to land a VC job out of undergrad. I know they generally don't hire UG. That's why I was considering the other 2 options as there is a pipeline in place
Lmao the vc gave you an UNPAID exploding offer?? Seriously?
.
The Trading offer is exploding
.
The second option would serve you well for the short-term goal. The first option would give you some brand-name firm on your resume in case your goals change before junior recruiting.
If you're headstrong and have some family money, #3.
If not, #2 if that rotational program typically leads to a perm. seat.
If it doesn't, then #1.
Money isn't an issue, but I hate losing money, so it will hurt my soul. I've interned at the VC before during the year and thats how I got it out of UG if that makes a difference.
Go with two - you said yourself your short term goal is S&T so try that this summer and if you hate it then you will be solidified in your deicision to try VC the following summer.
Urgent--exploding offer (Originally Posted: 02/28/2018)
hey guys,
In a bad spot. Have an offer from firm A that I dont want that badly. Had a superday with firm b that I really like. Today my offer from firm A explodes, and when i notified Firm B's hr about the exploding offer he stated that they couldnt provide an update at this time. While I assume this means they are waiting on another candidate, what do you think I should do? Does emailing one of my interviewers that I got along with really well help at all? Seems like a dead end on my part, just trying to make the best of it....thanks
Have you thought about hosting a political news channel?
Take A, pray for B.
Take A and, worst case scenario, renege on offer A in the case you receive offer B...?
It may rub bank A the wrong way, but they put themselves in this position by engaging in exploding offers, lol. This also ensures you don't end up empty handed in the case of letting offer A expire and waiting for offer B that never comes. Good luck!
You told B you had an exploding offer and they didn't bite, that's your answer right there. If you were their lead candidate, they would have reacted differently and made sure they could put an offer in front of you. Sorry you couldn't get your #1 choice, but you have an offer nonetheless.
Exploding Offer Ends Tomorrow at Noon (Originally Posted: 11/03/2016)
So I got a call earlier today...I got the offer from SRR Chicago, summer IB. Investment banking is what I would like to do, as in it was my first choice, but SRR wasn't. The reason I'm so hesitant is because I know SRR's IB isn't great, but on top of that, my superday made me feel like shit. I was great and killed it, but honestly everyone there was so stuck up or full of it. I honestly didn't click with a single person, and I know a job is a job...but, I really do feel like I can do better. Both professionally, but also surround myself with better people. Also, kinda sketchy...but there was not a single woman during my super day. Like I interviewed with upwards of 10 people, and not a single woman. Not that important, but the vibes were bad. Am I being an idiot? I know it's really late in the recruiting cycle, but I'd really like to land something at a BB or in investment research. Thoughts?
(and please don't say it's just a summer, because I had a terrible internship this past summer and it was a very long and excruciating 15 weeks.)
You know if somebody is on here from that firm they'll probably know who you are right? Also banking is a male dominated industry - lack of females is not unique to that firm, and not always for lack of trying.
The way I see it is what other options do you have? You can complain all you want about how not ideal this offer is, but it's an offer. It's better than nothing. Do you really think if you haven't landed a BB / EB / MM position by this point that you'll be able to even later in the cycle?
IB is still IB at the end of the day and SRR is at least a firm that people relevant in finance circles recognize. It also depends on what school you go to and the type of recruiting you experienced beforehand. Coming from a non-target, I'm glad to have gotten experience in IB, despite the fact that my firm's not a BB. If you really want to get into a BB, you could always, at the end of the day, go through FT recruiting next year.
You had better accept and censor this post
If you really think you'll be that miserable don't take it. If you're not taking it because you've convinced yourself it doesn't have the prestige you desire, re-examine your priorities, take a long hard look at yourself and let some other kid have the spot that actually wants it.
Like other people have said, you need to mask the bank's name when asking things like this. There are many people in IB who read WSO, and it's not that hard to figure out who you are.
Also, as others have either stated or implied, if you really had better options, you would have gotten other offers at this point. If you do not want to intern at SRR, that's fine, but you are not going to emerge with a BB offer this late in the game. Unfortunately, some times in life, you have have to buckle down and just ride it out.
your sense of judgement is seriously impressive - i recommend you go into politics /S
at this point you should delete this entire post, take the offer, fake it through the summer and look for something else after your internship.
if you think 15 weeks is long.... good luck with "career"
Considering the length of time this post has remained up, I wouldn't be surprised if they called you to rescind the offer.
Liz, as your hiring manager, I am officially revoking your offer. Best of luck.
Thx, Tom
I was questioning the authenticity of this post, but then I saw the "thx".
Update: Did not accept the offer. Also, details were changed to begin with, and (surprise) I am not actually that dense. But still, SRR was a good enough comp considering the situation. I think I'll try my luck with the PE opps I have coming up. Would much rather slum it with post MBA analysts with money to blow and time to waste. Thx 4 all the help every1
Seems like SRR is the one that came out ahead on this one. You sound like an insufferable person with a shitty attitude.
SRR dodged a bullet there. I'm sure there's an army of kids like us waiting to pounce on that opportunity. This was just for an SA stint too, it's not like you'd have been there forever. Jeeesussss....
Probably would have been the wiser move to take it, but understand you should go with your gut
I don't know why people on here so discouraging. I think it's great that OP didn't decide to take the offer. Being able to click with the people at the office is really important imo, because IB is all team work. You wouldn't want to spend 100 hours per week with people you hate.
Also for the most upvoted answer, "Do you really think if you haven't landed a BB / EB / MM position by this point that you'll be able to even later in the cycle?" I'm in the same boat as OP and I'm telling you YES I DO. Recruiting is still going for BBs, especially for non-cores according to my contacts. Stop trying to insult the OP/other people on here who are still looking for something for the summer. Plus having a BB IBD offer doesn't make you ANY better. Put your fragile ego away and shut up. Seriously this forum is so toxic sometimes. An order of magnitude worse than those college confidential days.
Nobody is insulting the OP for that, it was an honest comment. BB and EB recruiting is almost entirely done, with some MMs still recruiting. Most banks have already filled up ~70%+ of their spots, one exception being UBS who is doing their recruiting a little later than others.
URGENT: Exploding Offer? (Originally Posted: 10/29/2013)
Sorry for the long post in advance. I interned at one of the Big 4 in Audit this summer and I'm now a senior. I just kind of wanted to do an internship at a well-known company and beef up my resume a bit (and I happened to take quite a few accounting classes, which is why they took me). Long story short, I got the offer and now that my offer is going to explode at the end of the week I'm definitely having second thoughts. I'm pretty sure I want to go to b-school eventually since my long term goal is VC. So I interviewed for the TAS+ program hoping that my career path would go Audit--> TAS--> IB-->MBA-->VC. Since I got dinged from the program, I thought that in order to keep my b-school hopes alive I'd send some emails to boutique investment banks, PE shops, and venture capital firms in my city and hope for the best. The response I got from nearly all of them was "check back in 3-6 months" or "we'll keep your information on file in case we do begin hiring in the future".
I do think that a bird in hand is worth two in the bush, but I don't really want to renege and potentially burn a bridge either in the case that I accept and something opens up between now and graduation. Am I over thinking this? What do you guys think i should do? Go into Audit for 2 years, and network my way into banking or just reject the current offer and figure out how to get into a boutique by any means necessary? (I have a 3.13 GPA from a Target if that makes a difference)
Thanks in advance for reading and any input is greatly appreciated.
If you read around on WSO, you will see that audit---> IB is REALLY, EXTREMELY hard. That being said, people have done it. On the other hand, I'm sure that (even with a target school on your resume) finding an IB job in 3-6 months (especially without prior banking experience, a 3.13 GPA etc) will also be REALLY, EXTREMELY hard.
Tough choice.
Personally, I'd take the offer. If you can't transition to IB, you can always get an MBA first- you can actually get into top programs with an audit background if you are a great all-round applicant. I'd go audit--->MBA--->IB--->VC (if you can't get TAS or IB before an MBA). You may be having second thoughts, and it may not be what you want, but I'd personally rather have this than chance having nothing (ie, not this or IB, and in an extreme scenario nothing relevant at all) in 3-6 months (because that would be a very real possibility).
This. Take the offer.
I ended up taking the offer, and this is pretty much why. Something is always better than potentially nothing. I can always transition later at some point and in fact, I'm working on that now. Thanks for all the responses everyone!
You cant re-interview for TAS in 2 years? Maybe check out other big4 TAS groups after two years.
I can, but that's 2 more years down the drain, and there's no guarantee of getting in. Although it is a valid option, I'm looking for something that's more of a safe bet.
I see very few auditors made to IB, because there is a very thin similarity in terms of job functions ans skill set. Having said that, I did see a few people pull that off. But more would choose a target b-school to go around it, that's why you see so many accountants in b-school.
So if I were you, I would go take the auditing job, keep searching for TAS openings within and out of that firm. If that worked out, make the leap. If not, apply to a good b-school after two to three years and look for IB or VC jobs then.
Accept the offer. You might have a hard time applying to IBs because of your low GPA. Being from a target school might help if you network enough to get your foot in the door.
If it's Deloitte, I would try to transition into their consulting arm (is that a possible from audit? Or maybe audit - TAS - consulting?), and then try MBA and/or industry --> VC route. You don't even need an MBA if you want to do VC. Top VCs want operators / serial entrepreneurs; they have no need for finance guys. TAS / IB are a complete waste of time if you are targeting VC long-term. I would even try targeting operator roles at VC portfolio companies medium-term.
Wow man, don't be dumb and accept the offer. Learn some financial modeling in your free time, and start applying for TAS jobs everywhere. It's not that hard, the difficult part is transferring internally because these firms aren't stupid. They will dangle the carrot for a few years, and then let you switch right before you're ready to leave which will set you back work experience wise.
If you really have your heart set on VC, you should find an industry that you're really passionate about and go work in that industry -- e.g. you want to end up in tech VC, go work at a tech company in operations/product management or at a tech start-up. The best VC firms add value because of their industry expertise. No offense, but I don't think that Audit / TAS/ IB / MBA will help you as much as hands-on, in-depth working knowledge of a specific industry. Sure, I know IB and MBA can feed into VC... this is just my .02.
p.s. a STEM degree will help for VC. It's very difficult to evaluate a technical product/service that has no revenue without knowledge of how and IF the product/service works as well as industry in which they will compete (which goes back to my first point).
Would you be willing to stay unemployment for a month, 6 months or maybe even a year searching for the perfect job? If I'm in a situation where this is my only offer and I am supporting myself I would take the offer. If your parents are willing to support you if you don't have offers after you graduate then you can gamble a bit more.
@Ruskii: Totally understand dangling the carrot. I've had talks with a few ex big 4 and if you're not really high rated, the only way to let you switch internally is really to tell them you'll leave if you don't- and you'll still have to leave sometimes.
@Poff: I definitely see where you're coming from, but lots of the VC firms in my area are hiring associates with IB experience and not necessarily tech backgrounds
@Raytheplumber: I could stay at home for a bit if I really wanted to, but I do have student loans to pay back and my parents have paid my tuition these 4 years so I don't want to place undude burden on them.
Everyone here's got a good point. I would also take the audit offer then switch to TAS. Keep in mind it might be easier to move to another big 4's TAS cause internal transfers can be a bitch sometimes (and potentially harder than just looking externally, time-wise anyways).
Good to hear you are a senior, I guess you'll probably make mgr 2 years after graduate. That's not that bad of a job in itself, but on the other side the time commitment are likely to be way higher (seniors are expected to lead engagements from my experience in Canada). So do be prepared in that aspect, you might need to give up a good portion of your personal time to dedicate to networking/job hunting. I think another minor issue might be after a while the focus of your resume shifts to a "big 4 accountant" rather than a "target graduate". So you may need to start looking for alternatives even before you start full time in audit.
TL:DR: Take the job but keep looking for your dream job as if you are unemployed. Set aside more time of your day to meet both obligations accordingly.
Best of luck, CDNdude
Myth of the exploding offer (Originally Posted: 02/20/2007)
I had an exploding FT IBD offer from a top 5 BB in NYC from last fall, and I was supposed to make a decision by Nov 1st. I spoke with a receptionist in HR with the bank before the Nov 1st deadline and politely declined the offer for one that I thought was a better fit. I get a call last Thursday (3 and half months after the offer supposedly exploded) from a different HR contact from the bank curious if I had made up my mind yet - with absolutely no correspondence since the October Superday except for my phone call declining the offer. Is this unusual to be given such leeway (albeit accidentally) with exploding offers, or is this a sign that maybe FT IBD recruiting wasn't so robust as some had thought? Maybe there are some FT slots out there left.
I've heard of this happening as well. I got an offer from a summer internship, but didn't want to make a decision until I had interviewed. I ended up not accepting several months after the original deadline. When I finally did decline, I called the recruiter and spoke with her. She thanked me for getting back in touch with them because so many times candidates don't get back in touch and then they don't know if the candidate has declined or not. The impression I've gotten is that the deadlines are not set in stone and you probably can still accept after a deadline (especially since bigger places do not necessarily have a fixed number of slots), however, since this is your real-life career, you probably shouldn't take risks like that with it.
The most important criteria when deciding to join a small firm is the experience and track record of senior management. If this seems questionable at the REPE firm, then I would recommend going with the F500 company. That being said, she could be missing out on a great opportunity with the REPE firm if she wants to be in real estate long term, but it is all about the vibe she got in the interview. Did they seem smart and professional or idiots that managed to raise $ from FFF?
I think she answered her own question in the paragraph. Do the real estate job, which is what she is interested in anyway.
At a junior grade level, I think REPE internship would be great. Also anyone not in the know in corporate finance would probably read her resume next year and see "Private Equity" and boom, she has a senior year interview.
Welcome, sounds like she made the right choice. It's sort of scary there are shops like that out there.
Recruiting with an exploding offer (Originally Posted: 10/07/2011)
Hey guys,
I have an offer that explodes soon from the MM bank where I interned this past summer, in an East coast city not really known for finance. My school apparently requires employers to give until November for offers made during the summer, but when I mentioned this, they were only willing to give me an extension until mid-October.
I have a couple other interviews and one, maybe two, final rounds lined up with firms in a different city on the west coast, where my family lives and I'd prefer to be, but only one of the banks might get back to me in time (the one where I'm not sure if I made the superday yet, though they seemed accommodating and receptive when I mentioned my exploding offer). All of these firms are "better", in terms of pay, prestige, and probably experience.
At this point I guess my best bet is that one superday, but apart from that, my options are:
Suck it up and turn down the offer, keep recruiting. Hope everything pans out.
Take the offer. A bird in the hand is worth two in the bush, and I can try to lateral later.
Take the offer, keep on recruiting, renege if something better comes up. (Personally my least desirable option, but a lot of my friends are saying to do this. Also no signing bonus).
I'd appreciate any advice, thanks.
Take it -- keep on recruiting and reneg it later. Do what's best for you.
Remember when you got rejected? It's the same way for them. You reneg, they find some other kid to call. It takes 5 minutes.
Yea, it's a no-brainer really.
Everyone keeps talking about these kids who got their offers rescinded as a result of recruiting while having already accepted an offer
for option 3, is it possible that you will get into the company's blacklist ?
HELP! - exploding offer - wait for Investment Banking? (Originally Posted: 11/22/2011)
I received an exploding equity research offer from a well respected Asset Manager. They pay IBD level base salary + 10% bonus, I would work 50-60 hrs. a week, and they place well into B-school (e.g. Stanford, Columbia).
However, I like investment banking better and am waiting to hear back from 3 unknown but respectable boutiques. I told them about the exploding offer and they all weren't sure if they would be able to get back to me in time...
My question: I go to a complete non-target so I don't want to reject the offer I do have. Should I; decline the offer and hope that I make it into Investment Banking, be happy I have an offer at all and transition to IB after B-School, or accept the offer and reneg if one of the boutiques come through??
I'm literally losing sleep over this, I need some advice. Thanks!
Don't worry so much, you'll always have an exploding offer from me.
It's a tough call, but given the current environment I would go with the safe bet and take the offer. You'll be able to develop good analytical skills in ER, and the modeling skills should be pretty transferable to IB if you want to make the switch in the next year or two when the market settles down a bit.
Good luck!
Seriously bad advice on this thread. Go with this:
If you get an IBD job, then you can figure out how to renege on your offer. Don't risk getting stuck on unemployment or an ops waitlist because you didn't get your first choice.You can take the offer and try lateralling to IBD after a few months. If you get an IBD offer before you start, bail out.
+1Go with your guts.
If you think you have a good chance with the boutiques, then wait.
If the choice was up to me, I'd wait for the boutique banks to get back to me.
Ask for an extension from the AM.
accept it bro. It is a tough economy out there.
eriginal,
Question: I went to a non-target but respected business school for undergrad and just passed Level I of the CFA program in June and have not even been able to land interviews for ER Associate positions. I've spoken with 4 different MM banks about ER openings they had and they all want somebody with a minimum of 3-5 years ER Associate experience that can build their own models, hit the ground running, minimal training/oversight from the analyst.
At this point, I think breaking into IBD is easier then ER, even with a CFA. I seriously hate this chicken/egg environment we are in today: how do you get the necessary experience if people are only willing to hire those with previous experience?
Thanks for consolidating the good advice I'd +1 if I had it. I'm definitely going to accept the offer, this job environment is too iffy and I've put in too much work to risk unemployment...is it horrible form to renege?
I agree, very difficult to get the necessary experience to be competitive. I have had 5 finance internships but even still had to network my ass off to get interviews; probably sent out about 400 applications/emails. I feel fortunate to be in the position at all, even still It's stressing me out.
http://dealbook.nytimes.com/2011/11/21/wall-st-layoffs-take-heavy-toll-…
now is the not the time to fantasize about your dreams of overcoming the odds to becoming the next Gordon Gekko. Take the offer.
take it, don't be stupid
Overwhelming feedback, much appreciated. That was the decision I was going to make, just wanted some reassurance that I was making the right move.
Also, I can't believe that hipster douche bag featured in the article even managed to get a finance job in the first place...the whole editorial reeks of entitlement.
I was in the same position as you a year ago and you're making the wrong play accepting the ER role right away. Ask for an extension - exploding offer? Kiss my ass. This is what you do: Call them up tomorrow and tell them you really liked everyone you met with, were impressed with the interviewers, etc., but you want to be absolutely sure this is the best fit for you - afterall it is the biggest decision of your life up to that point. There is absolutely NO DOWNSIDE to asking for an extension - better yet, if you ARE granted an extension, use it as leverage at the boutiques. If you land one boutique offer, you're now sitting on 2 offers and the other boutiques will give you the benefit of the doubt while interviewing you (not to say you'll get them though).
If you're truly a baller, you'd roll up 3+ offers and go to BB IB and say, listen, got 4 offers, give me a damn interview.
This is business. Learn to play hardball. Don't sit back and accept something without exploring what you truly want to do just because "its a tough environment".
Get them to extend the offer. If they still say its exploding, accept, interview elsewhere, and then reneg. Renegging will come easier since you can use the excuse "yea but you really didnt let me explore my options and see if this was the best fit for me." And despite what people would say, it won't be the end of the world if you reneg at some AM for ER, when really you want to do IB and probably IB at a BB.
Glad you arrived at the right decision. I was just about to chime in with similar thoughts of "Accept. Then renege if need be."
The thing is -- and I know it's hard to understand, and I too worried about "horrible form" and all that -- but these employers don't give too shits about you. Don't hold yourself to a higher standard than the standard to which they hold themselves: They wouldn't think twice about booting you for any reason.
In short, the "at will" clause that's likely in your contract should benefit you as much as it does them.
I forgot to mention that I did try to get an extension when I received the offer because the time frame they gave me was undesirable. HR told me that although they would like to give me more time, their candidate pool is shrinking and they will not offer me an extension. I agree, reneging if I do get an offer elsewhere is probably my best bet.
In a side note, I have no desire to work for a BB;I want to work for a boutique with a team that suits my personality. The few that I am fairly serious with fit the bill perfectly and I feel confident they will extend offers soon. However, in this market it would be delusional to turn down a sure thing.
One of my good friends actually got me my first interview through a contact of his - I don't want it to reflect poorly on him. Reneging is definitely an absolute worst case scenario, I'd rather not screw someone over if I can avoid it.
Managing IBD off-cycle exploding offer (Originally Posted: 10/27/2016)
Hi fellow chimps,
I know this topic has been covered but I figured I could use some help on my situation.
I have been interviewing for several off-cycle IBD positions in London and I am reaching the last rounds for a couple of them. I have an "off the record" offer (interviewer mentioned it but nothing official yet) at a top EB. I am pretty happy about it but I am still waiting to hear from a BB where I had a late round interview last week. I already called them to say that I had last rounds interviews in other firms and that I might have to make some decisions in the coming days: they said they wanted to give a shot to all the candidates to interview and would get back to me ASAP.
Do you know if I am already on their waitlist? I don't know if off-cycle processes are similar to summer internships. Also, in case I have an exploding offer in the coming days from that EB, would you guys mention and use it with the other firm?
Thanks a lot!
You haven't received an offer yet
Thanks, maybe they heard you, I just received the call. Any tips on the situation?
Accept the offer.
Ok, but shouldn't I try to leverage it with the BB? Thanks
Leverage with the BB only when you have an official offer.
Exploding Offer Dilemma, Summer Analyst (Originally Posted: 11/22/2015)
FACTS OF THE CASE
All for summer analyst. I go to a non-target. None of the recruiting process is through OCR.
Got an offer from a respectable MM firm. I have superdays coming up with multiple bulge brackets, but only after the MM offer expires.
Since this is only for a summer, I will absolutely NOT renege if I choose to accept the MM offer.
However, I still want to go to the bulge bracket superdays so that I can stay on their radar for full time (I want them to actually remember who I am).
QUESTION
Before going to the bulge bracket superdays, should I tell them "I've already accepted an offer from XX middle market firm, but I'd still greatly value the chance to interview with you", or should I just keep the MM offer a secret?
By going to interviews after accepting an offer, do I run the risk of having the offer rescinded even if I never renege?
All input is appreciated.
I would either keep your MM offer secret and interview or tell them that you already have accepted another offer and not interview (keep in touch with whoever your contacts are, let them know what your situation is).
I would not ask them to interview and let them know you have accepted an offer. You're just wasting their time.
Keep your MM offer a secret. Banking world is smaller than you think.
If haven't done so already, tell the BBs that you have an exploding offer at the MM and that (Insert BB here) is really you're top choice, and ask if they can accelerate the process.
Echo that you shouldn't keep it a secret because if someone finds out you are shooting yourself in the foot (actually probably more like the balls because it would be pretty serious).
That said, you should do what mr.bateman said and try to get the BBs to expedite their process. But if they cannot do that I would get back in touch with the firm you have the offer from and ask if you can get an extension to decide. I wouldn't say you want the extension to interview elsewhere, but just that you are stuck and need more time to speak with mentors, parents, etc.
Advice needed on exploding offer for summer internship (Originally Posted: 03/19/2011)
Hey everyone,
I'm currently a sophomore hoping to pursue a career in banking. I just received an offer for an internal audit summer position in nyc where I was given one week to make the decision. Unfortunately, I was hoping for something more relevant since I spent last summer doing wealth management at a BB.
I still have final rounds at a valuation firm in chicago and have an interview with Standard and Poors for their summer internship. I was wondering if anyone knew anything about the S&P summer program and if it is worth it to decline the offer.
I've been told by a few people that internal audit would be fine as a sophomore but wanted to see if anyone else had other advice.
Thanks.
Definitely don't decline it if you have no other offers, you might not get another. I would try and get them to extend the offer, shouldn't be a huge problem. Leverage your current offer in your upcoming interviews. Worst case, take the offer, and if you get a better one, renege. Reneging on a acct firm aint going to get you blackballed in finance.
bird in the hand
how did you get wealth management at a BB after your freshman year?
Half the people on WSO did PWM after Freshman year...
Thanks guys. Anyone else have any input?
If the valuation firm in Chicago is a reputable firm with some interesting work potential it sounds better than audit. That said, if this (chicago gig) is your only other option (that is more beneficial than your current offer) AND you haven't gotten an offer yet, you are better off going with audit, getting whatever experience you can and making the big push for junior year SA recruiting.
As a rising junior with 2 solid internships on your resume you will be in a good position to land an IB gig. If your final round with the Chicago firm is ahead of your deadline then go for it and if you need to, make a push to rush the decision. Otherwise, take the audit position ahead of few options and a lot of uncertainty.
Thanks bankonbanking
Exploding Offers Help (Originally Posted: 05/05/2011)
Hey guys, I've been a long time reader and I need some help now deciding between 2 exploding offers.
I'm currently a sophomore(rising junior) at a target school but I'm not really sure which direction I want to go in (AM vs. IB vs. S&T) so just keep that in mind.
1) The first offer is with a $250 M investment fund that basically runs separate accounts for ~300 clients (almost all HNW individuals, few institutions). It does mainly equity investments but also some bond investments. From speaking with the people there I would basically be doing analysis on stocks as well as industries. I'll also get some exposure to the managing director and portfolio manger since it is a small firm.
2) The second offer is with Thomson Reuters. I'm not too sure what my day to day responsibilities would be but here's the job description:
Summer analysts will rotate throughout 2 or 3 predetermined Thomson Reuters Pricing Services groups (Data, Muni, Corporates, High Yield, Derivatives, Regulatory, and Structured Finance such as RMBS, CMBS, CDOs), in each case with the majority of the analyst's time spent in Data (5 - 6 of the 10 weeks). Analyst will also participate in seminars (teach-ins on specific topics, social/networking events TRPS organization, etc.).
I'll basically be rotating between groups that price various types of bonds/structured products
3) I also had an interview for an IB Summer Analyst role at a boutique which is going to get back to me sometime next week.
I was just wondering what exactly to do/which offer to take? Both offers expire tomorrow and neither will offer an extension. I'm probably going to accept one of the positions and renege if necessary to accept the IB position if I get it.
However, I was just wondering which offer to take( out of the first 2). I'm not sure what career I want to do but what would set me up best for IB next summer? Which offer is better overall?
Thanks
2
would you mind explaining your reasoning? I'm kind of lost about which direction to go in.
Thanks
1
thanks for the input but do you mind explaining a bit?
1
3
IB or bust.
lol I appreciate the input but I'd actually like some explanation. any more input?
OP, they are fucking with you. Figure out what YOU want to do. If you don't know, think about it in terms of will it be easier to go from 2 to 1 than from 1 to 2? If nothing else, TR name is prob way more recognizable than either 1 or 3
Thanks man appreciate it, I'll probably just go with Thomas Reuters since I really can't decide.
it really doesn't make a difference you are a soph at a target. both offers are great, learn as much as you can and network.
I'll counter this and go with 1. Go with Thomson Reuters, and while you're getting industry experience, you're not getting experience 100% applicable to AM or IBD. Given that it's your sophomore summer, you don't need the end-all, be-all placement that juniors do since you're not looking to convert a FT offer or be screwed. Go to the fund, you'll get experience in AM which you can also spin incredibly positively for IBD or AM in the future since you got it as only a sophomore, as well as for S&T simply since it's relevant finance experience.
Normally I'd say 3 because for IBD, IBD experience is best. There's nothing like putting "Investment Banking Summer Analyst" on your resume for future recruiting, however you're at a target so you'll have access to great OCR again, and taking fund experience is not a throwaway at all. Besides, you're not even sure you want to do IBD, so in my opinion, the first choice leaves you broadest opportunity for the future, gives you solid experience right now, and ought to help you get a taste for what it is you actually want to do.
Exploding Offer... Of sorts (Originally Posted: 08/25/2011)
Here's my situation. I apologize for the length of the post and I appreciate any input or suggestions...
I am entering my fourth year of my undergrad degree and plan on graduating December 2012 (going to take some additional courses to boost my GPA). My goal is an IBD SA position for next summer. My resume is attached, outlining my prior experience.
In order to gain exposure to the IB industry, I cold-emailed boutique firms near my school for part-time positions during the school year. I got one response and had an interview. I believe it went well. The interview was early July, right before the Euro markets started their big period of volatility. One of the firm's key revenue generators is advisory services to Euro hedge funds, so I can see how they would be busy (more than normal) around this time. I e-mailed back and forth with the MD, with the last e-mail from him asking what kind of hours I am expecting. I haven't heard back from him, and have sent two e-mails (one to follow up, one to ask for a suitable time to call him) and have made one phone call that went to voicemail. I really want this position and think it would provide me excellent exposure to the industry and help me to network.
Because I wasn't sure about this position, I applied for a bs part-time job (think call centre robot) at the BB where I have completed two internships. It is guaranteed 17hrs a week and pays quite well. I have to respond to the offer by Monday. I don't think that I would even be putting this position on my resume.
Any suggestions? Should I keep hounding the IB firm or is it their way of telling me to leave them alone? I'm worried that if I contact them and tell them that I have another offer, they will just tell me to accept it.
http://www.razume.com/documents/21561
good luck Ryerson.
Nope, not Ryerson, thank god.
The only other B.Comm in Canada that fits that profile (considered non-target) would be Carleton, and man I hope you don't go there. Anyways your resume is weak if you want IBD of any kind but I can't point out any specific flaws except the quality of your experience, the fact that you left your GPA off (which means that I, and any recruiter will assume it's
My suggestion would be to not live in Canada...
Get rid of "Fluent in English" but then again...I don't know what you Canadians speak up there.
Sorry - forgot to mention that I have updated that on my most current resume but haven't uploaded it to Razume yet.
You guys obviously read the post - any insight?
No, not Carleton either.
Trying to remedy the lack of experience with a part-time position this fall and any sort of IBD SA position next summer, including unpaid.
GPA is low because of personal/family issues through first and second year. I'm confident I can bring it up to something decent .
And really? Those courses aren't relevant? - Corporate Finance - This was a full year course. Exactly what it sounds like and seems quite relevant to me. - International Financial Management - Covered different types of equity analysis, arbitrage trading situations, FX trading, etc... - Financial Institutions - capital ratios, FI risk management, merger pricing, asset pricing, etc...
Not looking to start another school vs school or Canada vs US thread, just looking for an answer to my original question whether I should keep pressing for the boutique IB part-time position or suck it up and take the BB part-time position.
Exploding offer - Currently working as a contractor (Originally Posted: 09/15/2010)
Currently working as a contractor where I need to give a 4 week's notice before leaving. Had interview at another Bank for an opportunity I do not want to let go. During the Interview I was told that timing would be an issue as they wanted me to join immediately. But I cannot break the contract without giving my present employer a notice. How should I convince the bank so that they agree on waiting for 4 weeks until I join? The HR seemed very aggressive and difficult to persuade.
Perhaps you should ask your employer to let you go immediately or try to compromise with them (i.e. 2 weeks). If your employer still says no, explain that to the bank and hopefully they will understand.
Also, what happens if you were to just stop showing up to work?
They will probably withold my last months salary :(
Just tell your employer you are resigning. Last I checked, making you give 4 weeks notice would be a violation of the 13th Amendment.
Sucks, but that is the opportunity cost.
Also, your signing bonus should cover that.
Dude, witholding salary for time worked is illegal. Stop being such a pussy.
I think the "weakling" thing to do here is assume the hiring manager holds all the cards. You already have a job and you can always find another bank to hire you if one wants you. This isn't some college graduate situation.
Tell them you need four weeks out of respect for your previous manager. If they can't work with that, they can find someone else. They don't need to worry about you- you'll find another bank to work for.
And if the job doesn't work out, you won't have burned down the bridge with your previous firm. The month's salary is probably the least of your concerns in the long run.
just leave early... nothing they can do
If you leave without notice....you 4 week notice...you employer can't do anything You might never get a job in that company again...but if you are going to a better place who cares then. They can't withohold salary wither if they are a registered company under U.S Labor Laws for the hours you have worked.
You burn bridges to make bridges.
4 weeks notice? Yeah, sure. Walk in give industry standard 2 weeks and if they don't like it tell them your 2 weeks can become 2 minutes if they want. Who the hell has a month long resignation?
Agree with the above posters. Give your current employer as much notice as possible, and that's all you can do. If they don't like it, nothing you can do about it. Just do it in as courteous of a way as possible.
i resigned with one day notice and it was fine
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