Hi monkeys, I was very fortunate to have received a return offer from a MM in which I've been given a week to respond. I've applied to some BB and EBs but haven't heard back, would it make sense to reach out to them and say I have an exploding offer or is that concept for summer roles not the same for FT?
Thanks!
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Yes absolutely, that's how its supposed to go.
No that is not how exploding offers work. You need to be in process with those BBs (ie round 1 scheduled or further along).
I'm not sure if this response from Prospect was a misunderstanding - I think OP is asking about whether she / he should reach out to the BBs / EBs, rather than the MM.
As the user above commented, you'd only reach out if you were reasonably far along in a process. You won't get anywhere reaching out if you've just submitted an application.
My advice is to accept the offer you've received. You can join and move on later in a year or two, and rejecting your return offer for the potential of an offer elsewhere is quite reckless. Candidly, if you get another offer once you've accepted an offer already (in this case, from your MM), you can renege. I don't exactly like this, but it happens all the time and HR teams budget for this in their headcount allocation (and reach out to us, the existing bankers, to encourage us to keep in touch with our former interns to encourage them to return). Obviously if you think you might do this then be careful what you do with any sign-on bonus because you MM will claw that back.
Also congratulations on the return offer!
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