FT recruiting after return offer
Hi everyone, I know there are a bazillion forums filled with desperate SA's looking to lateral for FT roles (I am one of those desperate SA's). Now, I know networking and recruiting during your SA stint can be risky as banks probably don't want to hire someone who is already shopping around, but is there any threat to recruit FT once you've received a return offer from your SA bank?
For example, say you had a successful internship at bank A and received a return offer in August. If you don't accept immediately and start applying to banks B/C/D, is there a chance that bank A will rescind your offer if they find out that you are looking elsewhere?
Maybe I should just settle for MM if that is the case. Trying to play my cards wisely since I am an extreme non-target. Any input would be appreciated.
You’ve recognized the precarious nature of the situation broadly and acknowledged your own circumstances which add greater risk. I think you have your answer.
Unless there’s something unbearable about the current company which you haven’t mentioned, I would stay put.
It’s fine to recruit after the return offer as banks will give you some time to decide on the offer. As part of that, it is understood that people will be looking to shop around.
During the internship, I would just network with other banks you’re interested in but don’t be too aggressive and start jamming out apps
When would be the time to start jamming apps? After internship is over?
Was in a similar situation, so I want to help you out a bit. Granted, I also went to a target.
Once you have the return offer, I would just shoot out your applications as soon as possible. I wouldn't necessarily network or do anything along those lines, but I would let your experience speak for itself and, hopefully, it pays some dividends.
If you have interviews, I would immediately say your situation, stating that you have a return offer that expires on XXX date. This would generally just tell the interviewer that you're competent and it might expedite your process a bit.
If you get a new offer, I would write an email to HR explaining that you had a change in commitment, and can no longer pursue the job. Be vague, and don't post on your LinkedIn until you graduate.
Best of luck, pulling for you.
Thank you!!
Agreed with the above, no need to network if you have a return. From experience, ride out the period you have to sign the return and get your full bonus TO THE LAST MINUTE. I fucked myself over by thinking “there’s no way I get to a superday by X date, might as well just sign it.” Well, lo and behold, I received an expedited superday process with GS/MS/EVR the day after I signed.
Not too hung up about it since I did like my bank and was just shopping around; however, that offer could’ve been a game changer for my career.
Appreciate the insight! Sounds like securing a return offer should be my number one priority…
Curious, how big of a career jump that would’ve granted you? Were you at a BB/EB, MM, or boutique.
I'm at a Blair/Baird/HL/Jeff equivalent.
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