Hi,
I just received an offer from a bank and emailed the other banks that I'm in the process with that I received the offer/asked for the opportunity to accelerate the interview process if it's possible. One of them asked which bank it is that I received the offer from; should I reveal the name? Is that ok?
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Don't see how it could hurt you. My guess is they want to see if a reputable bank gave you an offer of if you're trying to leverage a no name boutique in order to get an accelerated process.
I think few things make you as attractive to banks as having an offer in hand from a competitor.
Good luck
This. Banks will probably accelerate if you have a BB offer, but won't mess up their timeline if your offer is from some tiny boutique.
I disagree with the answer below - yes, people at firms know each other, but no one is that up in arms over summer interns to collude (unless you're doing something bad like interviewing after accepting an offer or reneging). If you have a good offer let them know who it is.
banking is a small world...there is a very good chance that people at both firms know each other well...which provides the firms the opportunity to collude behind your back. For this reason, it is not in your best interests to divulge the name of the firm.
The exception to this is if you are a highly prized candidate with skills that are both in high demand and limited supply (for example, a PhD in machine learning software engineering with years of practical experience can name his own price and start a bidding war with salary starting at 300-400k)
While this isn't out of the realm of possibility. I think you're putting too much weight on a potential analyst's candidacy.
I would think, and certainly hope, that folks who have the power to move the needle in stuff like this have bigger fish to fry.
it really depends on the bank / people...some people are absolute assholes and enjoy fucking over other people (and banking has plenty of these)...while other people are respectful and will understand your situation and act accordingly. The problem is, you have no fucking clue which type of person you are dealing with...so game theory suggest playing defense, even if it turns out to be unnecessary.
Thanks everyone for the responses. It seems that there's a divide in what I should do...what would be neutral or the proper response in this case?
I wouldn't tell them. You don't need to tell them just say you'd rather keep it to yourself.
This happened personally, i was recruiting with 2 banks and 1 came in with an offer quicker. The other was in final rounds when I told them I had an offer at another shop and they decided to end my candidacy as they didn't want to rush to their decision or make me wait. Can go either way really, sometimes it makes them finalize a decision quicker.
best of luck
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