Hi all,
Quick question. I was talking to a contact of mine about doing OCR this fall even though I was offered a returning FT position after my SA gig, to fish for more money. He advised against it because he said that many firms put a 'premium' on top of your offer, since they are more aware of your capabilities than someone who they just recruit straight into a FT position. Essentially, he was suggesting I won't receive a better offer monetarily because tier1/2 consulting firms pay their SAs to come back.
Has anyone ever heard of this before? Seems logical but unlikely to me.
Some firms pay an extra 5k signing bonus to returning interns. You have little to no leverage as an entry-level hire so just take what the market dictates unless you are being offered well below market.
Yeah. I got a small signing bonus which is uncommon for regular hires. I thought I would ask for something higher and had the principles to push for more (smaller learning curve, knowledge of ongoing projects, etc) but liked the initial number so didn't push back. As Bigtime said, you really are not in a position of power as an inexperienced hire so any attempt to get more money will likely not be very well-received.
Now, if your friend was advising against interviewing with anyone because you have a return offer, then that's just bad advice. Always keep your options open, especially when you haven't even graduated yet.
There was an intern at the MM I SAd with who was a rockstar, bank initially offered him the standard $5K premium, he got a BB offer and they offered him an extra $10k on top of the $5K. He still took the BB offer, but MM's definitely will pay more for rockstar SAs
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