Feeling confused about this "using an exploding offer for leverage" thing. Is this a myth or do people do it?
Got a 2022 SA offer at a decent BB, wanted to shop it around a bit seeing as I go to a target and I could probably go out for some other firms. I hear the advice to "use an exploding offer as leverage and get accelerated superdays" all the time, but I have never heard of anyone doing it successfully. I contacted about 5 HR departments at different banks I was waiting on (Barcap, JPM, CS, MS, GS) and they all said to use my school's career services policy to extend the offer expiration date, but my school's policy is only a suggestion and not a requirement. Not that I'm complaining about the bank I signed but is the "leveraging your offer" thing even real? Has anyone had personal experience with this?
I've had prospects try that with me. If I liked them, I'd help. If I didn't care, I told them to accept the offer with the other bank.
I wanted to do the same thing and leverage my offer for a better one. Spoke to the head of recruiting for JPM. He literally said he can’t do anything and that I should “gamble” on myself and reject the offer and wait for the applications to close for JPM. I decided to just accept the offer because I come from a non target. Two days later my application got JPM got rejected without even an interview lol.
Lol that’s kind of super shitty of them. I’m surprised with another offer they wouldn’t at least give you a look but that’s fucked up what the HR guy said. They should at least tell you if you’re going to progress or not. Been a while since I was in this position but lots of banks were happy to accelerate, and I’m surprised that in this tough hiring market where banks are desperate for talent, that they wouldn’t accelerate. Makes no sense
If this is for IB not sure how accurate it is because the head of JPM IB recruiting is not a man.
My bad, head of a certain D&I for recruiting. This was also more than a year ago.
This is more so for SA pre internship or recruiting FT. I don’t think it would be very helpful once you get the return offer because FT recruiting starts after the firms have a sense of their returning SA’s.
It only really helps if you’re in the process (not before apps close or before first round). If you have a an upcoming super day they might actually be willing to accelerate, but other than that it’s toufb
It’s tough but very possible. Was able to accelerate MS out of nowhere thanks to a VP/Assoc connect in late April.
Friend did something similar for one of EVR/MC.
Yup. Have definitely heard of it happening but for me at least, was only ever able to get any help if your foot is already in the door. This is possible via networking if you have someone really pulling for you, but I think in general with kids on this site, the analyst you spoke to for 20 mins one time isn't able to do that- it requires a more senior banker with actual sway trying to help, and even then you also need HR to cooperate.
Know a handful of ppl who leveraged a second tier BX SA role (i.e. BAAM) for EVR/LAZ/CVP/PJT SA gigs instead
It's real. Empirically speaking, it depends on your standing with contacts/HR, where you are in the process, and the firm on your offer letter. HR and interviewers will often inquire about outstanding offers when they're willing to accelerate as well - that's when you have the best shot at leveraging an offer.
Depends on how your interviews went and standing IMO. I'd think they would accelerate superdays or decisions if a top notch candidate came back with a competing offer.
Ended up doing it multiple times to get the final offer I took. It consisted of emailing every person I networked with at the banks I liked better than the ones I had offers from. Did everyone help? No. But it only took 1 person or HR to turn my previous offers into actionable leverage and did that twice.
Long story short, leveraging an exploding offer can definitely work, but there’s no guarantee other banks will care so reach out to anyone you can at other places while being as discrete and smart about it as you can.
Wait just so I understand. You got an offer from let's say bank A and were able to leverage a super at bank B. Then you got offer from bank B and turned down bank A. You then used bank B offer now to accelerate bank C super. You got bank C offer and took that. Is that correct? If so, you are an absolute legend
It ended up also including a Bank D and Bank E who accelerated because of bank A and B offers but otherwise exactly yes. It was the wildest week in my life had 6 interviews including 4 super days in 1 week
Consequatur sed hic debitis ut sunt voluptas officiis. Libero id placeat nam necessitatibus qui ea. Velit autem mollitia autem dignissimos.
Occaecati voluptas omnis aut officiis. Facilis consequuntur nulla voluptatum libero ut aut aut tenetur. Quia minima qui cumque et ut error. Ipsum consectetur vel recusandae corrupti.
Accusamus et nam natus nemo eius mollitia. Debitis sed a unde qui esse. Quam aut illo ipsam consectetur dolores culpa ea. Vel ad odit voluptas minima facilis a et. Voluptate distinctio dolores quis rem. Eligendi fugit dolor consequatur et ut minima. Laborum voluptas libero eum quia in a consequatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...