I was very fortunate to get an offer from a good MM firm (think JEF, WB, HL) for a generalist position. I know I should be grateful for any opportunity in this market, but I was wondering if I could try to leverage it for BBs. I know most boutiques have already or wrapping up their process except for maybe Lazard, but I would love to know if it's leverageable at firms like GS, MS, BAML, CS, Laz...
Thank you!
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bump, also interested
How do you intend to leverage it? To speed up a process that has begun or to speed up a process that hasn't even begun? If you have already passed first rounds and are having a superday, you should absolutely mention that you have an offer somewhere and need to speed up the process. If you haven't had first rounds yet, I don't think you will have leverage.
Thanks for the reply; I wanted to see if I could get an accelerated process.
sure, but what stage of the process are you in? Of the BBs you are going for, how far along are you in their processes?
I go to a target for most of them and have been in the firm-organized coffee chats (application-based), but nothing has really kicked off yet except for diversity, which I'm not qualified for.
I find it funny that you just had to mention you attend a target
Here is what I would do...reach out to friends (not someone you cold emailed) at the firm(s) and see what they say. You obviously had to accept the MM offer - there is no way they'd let you sit for this long. The BB will know that, so you can't say "I need to hurry up because I need to accept an offer." So now you're in the position of having to reneg etc. Probably not a good idea to go to HR or the development director who is running recruiting and say "I got a MM offer, can you speed things up so I can reneg earlier." At this point, time doesn't matter anymore since you're going to reneg anyway. You won't be able to leverage your MM if this is the case. I've never had anyone tell me in an interview "oh btw, I've got an offer from another firm." Usually, the senior banker/HR in charge of things will ask each candidate if they have any "conflicts" or "timeline issues" once the process has begun. This would be a fair time to mention that you have an offer from another bank, but that you'd prefer to work at the one at hand. You won't be able to leverage a speed up in process, but that may help the bank assess your candidacy if they know you're already being eyed by other firms. If the MM is letting you sit for another two weeks, then this changes the calculus.
This is the answer. Not sure why the monkey shit. The only way you’re getting an accelerated process would be if you got an offer and simultaneously were in the middle of processes elsewhere but they just haven’t done their super days yet in that case you could reach out and they might speed things up for you and get you in front of people earlier. You can’t speed up a process that hasn’t begun yet lol a bank isn’t going to kick off a recruiting process just solely for you if they haven’t begun interviews (coffee chats don’t count). So you’re in the position where you basically have to accept this offer and recruit for the other gigs once the bank starts their process. As said above, since you’re going to have to accept the offer because of the timing, no group is going to speed up your process to just renege earlier. There is no time constraint at that point. Congrats on the offer, just up to you and what you want if you want to keep recruiting. Personally I would be slightly careful of who you tell while recruiting that you accepted another offer already but are still recruiting. Personally that would be a ding for me (ie worries me that you’ll just leverage our offer for something better or would just jump ship as soon as the grass is greener on the other side). But that’s just me, others don’t care.
Congrats on the HL offer
What is the purpose of comments like these? Let the dude keep his anonymity.
Woooosh
Several EBs are not close to wrapping up. Evercore is in the middle of their target process and hasn’t started non target (not entirely sure about that last part), and they’ve only had one non diversity superday (April 29). Centerview doesn’t start for a long time. I think Lazard is in the middle.
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