how to leverage offer from MM bank for top EB/BB?
so I received an IBD offer from an intl MM bank earlier this week for summer 2022 but i'm shooting for EBs and BBs (at a target, high GPA, relevant work experience). need to let them know decision by mid of next week but i'm not in the process with any other firms (failed 2 first rounds at EBs due to weak techs).
is this offer leverage-able since it's not the same "tier" as the top EBs/BBs – aka will top banks just not care?
if they do care, how do i go about leveraging it – like do I find HR contacts to email or contact VPs/MDs I've networked with to speed up process?
worst comes to worst, can I take the offer and then renege? thanks.
bump
also interested
Don’t renege, not worth the risk—not only does it hurt future students at your school, I know a few MMs that get particularly ticked and will put in a hit on you per se
cap, you gotta do what is best for you. what are they gonna do if you shoot them an email and tell them you're unable to join because of personal circumstances? nothing
Agreed. These banks give such little shit about us, so why should we care about them? They'd drop multiple interns simultaneously if it was economically expedient for them. Wouldn't lose a second of sleep over it either.
Leveraging an offer != reneging
If you're at a target then its going to be tough because Citi/CS already had their target recruiting so you wouldn't be able to leverage for them, for JPM/MS/GS they don't accelerate for anyone especially not a MM offer. You already failed at two EB's. I would take the MM and renege if you get something later.
Not true, GS accelerated with an MM offer and I never even applied. I had a contact through networking, so that might have helped.
NY office and when was this?
GS accelerated for my friend last year, internship, although they were diversity && had a MF SA offer which is kind of different
I was in the same position as you. You already have an offer so be appreciative of that. With that being said, reach out to your closest contacts at the banks where you have the biggest network and inform them of your offer but your continued interest in their respective EB/BB firm. Ask if there is anyway that the recruitment timeline can be moved up as you have loved your conversations with the team members there and you would love to join the firm. Worst they can say is no but usually 1 or 2 of the firms will try to accommodate you.
Most of them will not. Definitely not BBs this early in the process (assuming non-diversity). Have heard/seen some EBs (Centerview) accelerate but that was for people at Harvard and I don’t the full story there. If you think you have a good shot at a EB or BB, I would decline the offer and just start grinding techs. If you’re at a target you should be able to mock w upper class men or alumni that you’ve connected with. There are still a lot of banks that recruit in the fall so you should have quite a few more shots assuming you network and up your game from the dinged EB interviews
I had a more specific question about leveraging, is it possible to leverage MM (Baird/JEFF/WB) for lower tier BB (UBS/DB) this early on?
Why would you want to do this lol
I don't want to work in Chicago/Charlotte nothing against those cities but would rather be in NYC
Bump
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