In the process with several SA 2021 banks and was wondering if/when I do get an offer ... how to leverage it? meaning how to word that email to HR saying I have the offer and would like to be expedited or whatever it is. Also, want to know when to actually leverage an offer. Obviously don’t try to tell GS you have an offer from a no name boutique, but for things that are closer?
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GS MS JPM wont accelerate
A lot of "top banks" won't accelerate anymore
They won’t accelerate you unless your already midway through the process. For instance, if you’ve already had your first round, they might put you in an earlier super day than you otherwise would’ve been a part of. However, they won’t bend over backward for you. Interns/analysts are extremely replaceable. We’re not worth the effort.
Also, they’ll likely ask you for a copy of the offer letter, so don’t try to exaggerate other offers.
This is incorrect, if a boutique wants you they’ll accelerate you (not dependent on if their process has started or not). Albeit, this assumes you have a contact or two at the firm.
Fair enough. I only recruited at BB and MM, so I wouldn’t know. (original commenter)
Depends on the boutique.
can confirm last year MS would not accelerate.
Can confirm that they did for a very few select individuals (me) but this was during summer before they started their process. I would say you need a top offer and strong connections for it.
I had an offer in the spring from one of the BBs who recruits then. MS said they were holding absolutely no non-diversity interviews until summer, so maybe that’s why
Could you be any more pretentious?
I didn’t mean to refer myself as special. I was just trying to say that I went through the process for accelerated interviews last summer at MS. I definitely could had worded that better, it doesn’t sound pretty cocky.
For me, I've only had success when I talk to an actual person, either during a first round interview (at the end just be like btw I have exploding offer, is there any way I can have an expedited timeline) or after I've already had a first round interview and can reach out to the person that interviewed me. Never had any luck with HR, getting in touch with a real person is a lot easier.
Lol I thought it was funny how you worded this, as if HR aren't real people.
I managed to get a few EBs to accelerate with a BB offer in hand. Just respectfully email the HR contact and let them know you would really appreciate the opportunity to interview with their firm despite your time constraint.
I didn't do this personally as I luckily got the offer I wanted first but have a bunch of friends who were able to leverage theirs. The only way it really works is if you already have contacts at the banks you'd like to leverage the offer at (just another reason why networking is so important). People would get an offer and the deadline for that offer and politely say to their contact (or an HR contact if you haven't done any networking at the target firm) that they got an offer elsewhere and were wondering if there might be an opportunity to interview before you had to decide. Know some people it worked for, some it didn't. Never know, but can't hurt to ask as long as your polite.
Always worth a shot (be super respectful to both firms involved), but efficacy is inversely correlated to quality of the bank at which you're trying to "leverage" another offer. PJT and GS won't really care that you've got UBS or even JPM in the bag. Don't think CV has started or is starting anytime soon, and doubt they'd care if you flashed them a MS M&A offer, etc.
Seconding @Deal_Team_6. It usually works if you're polite or well connected, but will work a lot less well at a high-tier bank. The higher tier EBs seem to be more willing than the high-tier BBs to accelerate, probably because there's less bureaucracy to get through for them.
I tried to leverage my offer from a mid-tier BB (Barclays/Bofa/Citi) to a couple EBs (EVR/Moelis/PWP/PJT) type and the HR teams were unwilling to accelerate my process (this was with a referral from current analysts), so I'm not sure how much better the EBs really are.
For background: Non-Target for the EBs, and had not started the interview process with them, but analysts I networked with said I'd get a first-round if I stayed in process.
yeah it completely depends. tough luck, sorry to hear
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