Interviews & Exploding Offer Questions
Guys, got a couple questions for you
1) Had an interview with a boutique last week that said they weren't really sure whether they need anyone yet, but I was interviewed over the phone with 1 associate. after that, he said we'll let you know if we want to proceed you to the next round. Now, the MD of the boutique referred me to contact the associate, should I let the MD know that I interviewed with the associate and that I hope to hear from them soon? Or should I just strictly follow up with the associate, otherwise, it'll piss the associate off if I just go straight to the MD?
2) What does exploding offer really mean? If I have an offer say from a bank but for a MO position, and not IB, what should I tell the boutique I interviewed with in Q1? And what should I explicitly say either to the MD or the Associate?
Thanks
exploding offer means you have an offer that expires at a certain date, and therefore have to make a decision by a certain point. after that date, the offer "explodes"
I would follow up with both. Tell the associate you appreciate his time and enjoyed talking to him. Tell the MD that the interview went well and hope to hear from you soon, etc.
Let's say they give you an offer, it'll usually say this offer explodes April 20th. After that date, the offer no longer stands and the contract is void. Try to leverage the offer you already have but stress that you want to be in a FO IB role.
Inform IB firms about exploding FT offer from an unrelated position? (Originally Posted: 11/19/2013)
I currently hold a FT exploding job offer from a firm that does finance-related work but is not related to investment banking. Should I tell the IBanks which I had first-round interviews with, about this offer to try to speed things up? Could it hurt me, since it means I am strongly considering something that is not related to ibanking?
It might hurt you since bankers want to see that you recruit for banking only.
I don't see this helping you too much. The whole point of pitching an exploding FT offer is to try and pit banks against each other, which this doesn't do.
Help! Need advice on exploding offer (Originally Posted: 02/28/2015)
Hey guys,
So I reached out to a boutique investment bank. I got an initial screening call, which lead to a second call with an MD and then a third call with another MD. All of this was in the span of 3 weeks approx.
The recruiting process for smaller boutiques is fairly informal, so I consider that these calls were all interviews (i.e. I was asked some technicals/behaviourals). They all went fairly well and now I'm waiting for them to get back to me on if I can intern at their firm this summer. Its been over a week and I havnt had any news.
I have received an offer from another firm last week (that I dont really want :( ). Is it okay to follow up saying that I need an answer because I have another offer? Should I call them or email? Should I tell them that I'm a lot more interested in working for them then the offer I have? What is the standard procedure here?
Thanks
This is all pretty standard stuff — just follow up with the boutique IB, let them know the situation, and emphasize that you are interested in working for them this summer. They will get the hint. For a boutique, three interviews is considered a pretty big time investment on their end, so they won't want to lose you. And the fact that you reach out means that you are likely to accept their offer, so they will probably give it to you. Done deal.
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