A bird in hand is worth more than 2 in the bush - Dilemma

Can't be too specific, but wanted to get your thoughts

First-year MBA student with potential interviews in January - don't have interview schedules out yet as banks will inform in about a week, but confident of getting a few interviews based on conversations so far with the banks/bankers. However, an "off-campus" superday is coming up. If I get the offer, should I take this offer or wait for better opportunities in January with bigger banks in NYC?

All hypothetical stuff right now, but a tricky situation none-the less.  

 

I mean we’re one month away from January. Do you honestly think you can get an offer and start date before your Jan interviews? Ultimately depends on the opportunity but you could leverage an offer to expedite the decision process if you’d rather join that firm

 

This is for Summer Associate Internship and MBA process is very structured. I might reach out to my target and see if they can play around and take my interview earlier perhaps

 

If you go to a top school then it's the school policy holding you back not the banks. Banks aren't allowed to hold interviews earlier to accommodate students if they recruit on campus. Tough situation. My year I saw kids not take the early offer but if you're risk averse go ahead and take it. Know that moving at the end of the summer does happen but not frequently. 

 

I don't think the bird is anywhere near the hand, and the bush appears to be at best a maybe?

 

What is the worst that could happen if you accept the offer (bird in hand) then continue to recruit for a better offer? I know for undergrad or lateral hires, it will piss off the bank you renege on but they can't/wont do anything about it. 

I have heard MBA programs however, being super involved in brokering the on-campus recruiting process, are more likely to find out and punish you. I believe I've even heard of MBA programs that threaten to tell your new potential employer that you reneged on a previous offer before accepting theirs.  

Anyways, I don't have the answer but I would look into what the risk is of just being entirely selfish about it and trying to maximize your risk-adjusted reward by accepting an offer and continuing recruiting anyway. 

 
Most Helpful

This really depends on so many things:

  1. The bank you have your superday with relative to your #1 choice bank? - does your target bank view the other bank as a peer.
  1. Your school’s relationship with the #1 bank and their historical trend in accelerating interviews for candidates.
  1. Your risk aversion (e.g. diversity scholarship funds, visa issues if international).
  1. Your ability to negotiate extending the offer to be open for 4+ weeks, unlikely.

Understand your reluctance for sharing but anecdotally, IF a bank is willing to entertain accelerating your interview they will move for an offer from another bank which they consider their peer (e.g. GS/MS).

Ultimately, as another poster said your school may be the biggest obstacle in getting an accelerated interview. Take the off-campus superday, worst case you get some real interview practice, best case you have a problem I’m sure a few people in your class would love to have.

 

Eius debitis qui sit voluptatem. Placeat aut magnam et est ut dolores. Qui rerum deleniti et maxime non. Commodi beatae explicabo autem.

Distinctio quaerat quos aliquid omnis. Perspiciatis consequatur quia et libero sed ut ex.

Corrupti omnis a rem aut quo nam sint. Id at assumenda quasi aliquam architecto est id ut. Voluptatibus sequi impedit est aut perspiciatis harum suscipit.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”