Ask for 2nd Offer Extension?
Was extremely fortunate to have received an offer at an MM bank 2 weeks ago. However, I did a HV for GS/JPM/BofA last week and was hoping to get a BB offer before the MM reply deadline.
The MM bank gave me 2 weeks to answer and last Thursday I successfully asked an alum for a 1-week extension to this Wednesday 8/26 to hopefully wrap up a BB process before then.
However, it doesn't seem I'll be able to get a superday at a BB before Wednesday, so I wanted to ask WSO what is the best move here?
Should I call/email the alum asking for a 2nd extension, citing COVID uncertainty or something, or should I verbally accept then renege later (really prefer not to do this)? Would it be obvious that I'm looking for something better, and my offer at the MM is rescinded if I ask for a 2nd extension? I really think I have a shot at a BB and would love to at least take the shot.
Thanks for the help! Any advice is appreciated.
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Just say no to the MM now and do your superday for the BB
Don't do this. You don't even have a SuperDay yet, take the offer and continue with the process for the other banks. You don't want to be in a situation where you have no job.
Take the offer. A bird in the hand is worth two in the bush. Continue with the process for the other banks and see what happens there.
There is no guarantee you get an offer and worst case scenario is that you decline the offer and then don't get any other ones.
If you do get an offer from a more preferred bank, you will have a different problem to solve, but there is a half decent chance you won't have that problem.
Hi Charlie, thanks for this. I have pm'd you. Hope you could help me out a bit more. Thank you!
Beautifully articulated btw.
Obviously just a prospect here so haven't been through it, but could you try to accelerate the BB timeline? I have seen some other threads where people talk about this. Also, I think if you ask for a second extension it is pretty clear that you are shopping around or at the very least it shows you aren't 100% in on the firm. Given the current economy and odds of getting a BB offer (just in general without knowing any details about you), I would probably take the MM offer. Just my 2 cents though, best of luck with whatever you decide!
Hey buddy appreciate the advice. Think I'll take it and deal with my future problem in the future. Thanks for the help
Nah don't listen to them, you'll get the BB superday if you leverage the MM offer. DO NOT take the MM offer and renege cause that will screw you over big time. Just say no to the MM and kill the BB superday, you got this.
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Are you also having a superday at BB and trying to get rid of competition?
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Which city is the MM in?
Accept the MM, and deal w/ reneging later. The chances that you get the BB offer are fairly slim
Horrible advice.
sorry mate
It's entirely role dependent. Is it IB or S&T? What city is the MM?
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Reneging is a pretty bad idea - not sure why it's being suggested. I've seen offers pulled, including 1 at my bank. It sucks but you never know how information gets leaked or if someone at the old firm is weirdly vindictive.
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fuck off mate. srsly
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East coast, midwest or West coast?
First, call the alum and ask for another extension. Use whatever excuse you want but start there; you likely won't get more of an extension but, if you do, that helps with your problem.
Second, I am absolutely not a fan of reneging on an offer but you may have to take the chance that you end up in that spot. Avoid it if you can, but this is your career so I would never recommend you decline the offer and risk having nothing. Take it and see what happens with the BB. If you do renege, you'll piss people off at the MM, but does that really matter at that point? You'll have an offer that you are accepting at the BB and nobody there would care that you reneged on a different offer. If you end up not getting far with the BB, then you roll with the MM offer.
Lastly, I was once given the advice that you have to look out for yourself because your employer likely won't. Take that advice for what it's worth here.
Thank you for your advice. You said no one at the BB would care - would that really be the case? I heard the firm that you renege for may not like that.
I had a friend renege on a PE offer for a much better one and the firm he chose knew the whole time he was interviewing that he had accepted a different offer. They couldn't have cared less. Now, some firms probably will care but the only way they find out is if someone at the MM specifically calls that bank and that's pretty unlikely. Next, the person at the BB that gets called would have to actually care. I doubt it will happen, but it could and that is the risk you will have to decide whether or not you want to take here.
So you going to tell JH or should I?
Go ahead and ask for the extension if you really think you have a shot at the BB. You are wasting your time being undecided imo.
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