Advice Please...What should I do? ( a little long sorry)
So I interviewed about two weeks ago at a well known Boutique. My interview was on a thursday and an associate told me they still had two more people to interview on Friday morning. She said that people will be notified if they receive an offer friday afternoon. Friday went by and no call. I receive a call from the Associate on Monday and she tells me, "the MD is traveling and we will make a decision as soon as he gets back. Thank you for being so patient, I look forward in working with you in the near future"
Friday, goes by and still no answer. I however, received a call from the Associate explaining that the MD has delayed his trip and that the process will be taking a little longer than expected. Again, she mentioned that she will contact me as soon as a decision is made.
My Question: I received an offer at another boutique (not so recognized), I was given a week or so to take up the offer. My first choice is the well known boutique. Should I email the associate at the well known boutique and let her know I received an offer and ask, politely, if they can speed up the process? If she asks what firm I have an offer with, should I tell her? Should I just accept the current offer?
Your advice will be appreciated. Thanks to all.
Yeah you should just be honest and tell them about your other offer. Most likely they will speed up their process.
I'm not as experienced as some of the others but my interpretation is that they must be interested in you... why else would they keep contacting you and keeping you upto speed on the status.
But that doesn't mean you'll get an offer, why would you let the other offer expire without a concrete alternative offer to accept? Maybe a polite e-mail/phone call saying that you have been patient and have been stalling other firms who have extended offers because you really enjoyed meeting with them and although you don't mind being patient, you don't want to paint yourself into a corner.
Should probably be super-polite so you don't come off arrogant or seem like you're trying to strong arm them. Also probably wouldn't be wise to tell name the other firm which extended an offer.
FYI... I've been waiting for over a month to hear back, and they keep telling me how interested they are.
elan's approach is the best one to take. Politely thank them for the opportunity/experience, let them know you have received other offers (w/o disclosing the other bank's name), and ask them if it would be possible to have a decision from them by the end of the week.
Should I somehow tell them that they are my first choice or not? would that be ok? thanks so much
accept and renege
accept the offer, and if you get the offer from the well known boutiqe, walk away from the other firm.
if you even start there, work a week and then leave.
because you don't want to end up getting screwed if the boutique decides they really like but they're not going to hire anyone right now..its been done.
No, you don't need to tell them they are #1. Letting them know that you have received an offer from another bank and that you would like to hear from them before you make your final decision should be enough to let them know they are probably your #1. Think about it - if the other firm(s) was your #1 then you would have already accepted and told them thanks for the opportunity but you're going with another bank.
Whatever you do, don't do this. This should be a very last resort if they still don't have a final decision for you before your other offer explodes. This would be AFTER you ask for an extension on the offer from the firm that has already offered.
This is the worst possible advice anyone could have given you. Cornelius clearly does not work on Wall Street or hasn't been employed long enough to have figured out you will likely run into the folks from the smaller boutique at some point in the future. Burning that bridge is a very bad idea. You never know, you may get the same call many of the incoming Bear Stearns analysts got recently and have to rekindle your job search.
Call the associate. Explain that her firm is your first choice and you'd accept a position if one were to be offered. However, you've received an offer from another bank that is due to expire in seven days. Banks like to hear that you have other offers. There is no downside associated with being honest in this situation. Politely avoid disclosing which bank has extended you the offer, there is potential downside associated with that move. If you don't have the other offer in writing do not claim to have another offer. Wait until you're in a position to officially accept the other offer before calling your first choice to break the news.
Good luck.
...after being on wall street for a bit and seeing the way banks (bulge, mm & boutique) treat analysts with such insensitivity, i don't see why they should receive the same consideration.
i'll admit that i'm a bit biased because i've had close friends get screwed by all types of firms including buyside shops (going thru 5-6 rounds of hell just to be told they're in a hiring freeze). I've been thru this as well where I have to wait 2.5 months for them to figure out what they want to do. It's just a lot more stressful when you don't have a job to count on.
After giving my last comment further consideration, accepting and reneging would be quite rash. But I think you should look for out for yourself.
If you're building a career on wall street, you don't want to be labeled a pariah. People travel from firm to firm and you never know where someone's going to end up. And that could potentially hurt your chances in the future.
But if it was me..and the well known boutique kept putting me off, i would go ahead with the accept and renege.
........hedge ur bets?
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