I believe most companies keep offers open until October/November. My offer expires in late September, so I wouldn't have the chance to talk to other banks. We have a school policy that firms keep their offers open until November. How do I let HR know this/ask for an extension without jeopardizing the offer? Any input much appreciated.
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Well, one thing you could try is to have someone from your school's career services department call your bank's HR, and reiterate to them your school's policy - your name doesn't have to be directly mentioned
Ask your bank about it....but I think that usually the way the offer is defined, they somehow find a loophole around the deadline set by the school.
I know that's what Citigroup and CS do for Wharton.
Well did you get this offer through on campus recruiting? If not, I don't think your school can do anything about it.
If this is an offer from your summer experience then they can set any deadline they like. Everyone sets it before recruiting starts because the number of people coming back sets the number of positions they can offer to people taking part in normal recruiting. Sometimes they will budge but most likely not.
Internships are not only a chance for the employer to evaluate you over 10 weeks, they are also an opportunity for the employee to evaluate the company.
If you work as a SA at an IB that you like, then why not take the offer. One exception might be in going from MM to BB or from a less favorable area to more favorable one. Firm "prestige" should not be a factor, since you already know if you fit in the current culture.
If an offer is accepted at a different firm, remember that you will be behind any SA whose accepted a full time position and has ten weeks more experience than you.
I am assuming that salary is the same.
So I received my offer letter from a top 10 bank yet there is no mention of a deadline for signing other than completing a new hire package that will be sent out in April. Does that mean there truly is no deadline or might I get a call in a few weeks demanding that I tell them yes or no? Anyone think it just makes sense for me to call up HR and ask about a deadline?
I just don't want to get screwed in the recruiting process because I am interested in some other banks. Thanks.
most schools (targets) have standing agreements with banks, and certain regulations these banks have to abide by. Exploding offers are usually prohibited, no interviews during midterms, etc.
check with the school first. I remember last year at GS accelerated interviews, they even handed out a packet with all the schools talking about offer policies.
Perhaps the rules are more strictly adhered to now, but when I went through recruiting banks got around these restrictions by issuing offers that didn't explode, but did have large signing bonuses that quickly shrank as time passed and an offer wasn't accepted.
My best advice for responding to pressure would be to push back fairly aggressively, but in a very respectful manner. Of course, the pressure that PE mega funds place on offerees is on a whole different level of cut-throat negotiating, with absolutely no governing rules.
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