So I interned at a MM firm the past 10 or so weeks and I received a FT offer. Solid pay/benefits but my end goal is to work at a BB. I could take the offer and coast through senior year but I'm also considering applying around right now.
Is this practice frowned upon? I know people are very well connected within the industry and I wouldn't want this to come back to hurt me. I'm thinking it would be hard to land an offer within the next few weeks as I only have about 3 weeks to accept my current offer.
Any advice or insight about previous experiences would be greatly appreciated.
FT recruiting has been going on since the beginning of July for normal candidates (I could be a bit off). Check out the FT megathread but it seems that unless you already have a strong network at BBs, it's probably too late to start networking and get an offer.
If you do have 3 weeks though, no harm in trying. Rejecting the offer should not come back to bite you, I know upperclassmen who did BB summer and rejected the return offer for an exit op and successfully got it.
When in doubt shop around
Still applying after Offer? (Originally Posted: 02/24/2009)
Even after I get an SA offer for IB at a BB, should I continue applying to "backup" jobs such as finance positions at other places? I'm just scared after hearing about offers being rescinded and the such.
ya, but be careful who you speak with..it is a smaller world than one would think
Which BB are you at? If you're not at a "risky" one, I would just make sure you stay in touch with the contacts you've made through the interview process. In this job market, you're kinda taking away jobs from other people if you keep applying.
"taking away jobs from other people"...that's the dumbest reason i've ever heard of. you do realize you're trying to go into investment banking, right Wufei? Not the land of fairies and cupcakes?
also realize, if somebody doesn't show up, the company will hire somebody else if they need the job filled.
it is probably worth having a backup, but you want to avoid applying anyplace you might actually want to work at in the future, or any place that might be in touch with your BB through the grapevine. You may be left with some decent back-ups, but it won't be anyplace awesome; there's a reason you're not worried about pissing them off. I would then think that anyplace like that is probably on the level of a firm you could get in to later if your BB renegs and you have to - in short, you have little upside by actively applying now, especially considering the possible downside. That's just my gut reaction, and I would definitely keep networking nonstop - but you really should figure on networking until you retire, so I shouldn't have to say that.
Got FT offer, want to apply to other banks - mention it? (Originally Posted: 07/29/2012)
Hi,
I have a FT offer for 2013 from a BB in London.
I love everything, however it looks like the company, especially my team, is troubled, and lay offs are likely.
I am a bit scared and I plan to apply to other bank & boutiques for 2013.
I wonder whether you guys would mention your FT offer in your applications to other firms? If so, how?
Thank you for your help!
I would strongly advise against writing it anywhere in the application.
Don't ever put anything in writing that you wouldn't want your current employer to read. If it comes down to it, apply to the other banks, and then place a call to a contact in the bank (ideally) or to HR, and fill in the blanks under the pretence of "I have a deadline etc."
By the way, is this an "offer" or have you already accepted it? Aren't those pretty tight time-wise?
Reneging is a whole different ball game.
So... what's it like working in FI at Barclay's?
ZING
Thanks for your opinion! Any other thoughts?
Yes indeed I already accepted the offer, but just as the Bank has the right to cancel a contract, I have.
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