Leveraging offer from US BB to move to another bank for FT
I have an offer at one of the top US banks (GS / MS / JPM) in London and have accepted the offer but really do not want to start there for various reasons. I want to recruit for FT at other banks but recruiting this year seems to be absolutely horrible. I've heard that GS / MS / Citi / BoA / UBS won't even recruit for FT. As such, I would basically be stuck recruiting for Deutsche / Barclays / Rothschild / Lazard (if they will even recruit for FT) unless I want to move into MM banks or weaker EBs.
I think my profile would enable me to do quite well in recruiting given I have an offer from a top group at GS / MS / JPM and several prior internships in IB and PE so I'm a bit disappointed that I will not even get a chance to apply for many banks. I'm also not prepared to recruit for SA positions as it would be nothing short of stupid to decline my current offer and risk not getting a return offer as an SA. Is there any way I can leverage my current offer to recruit for FT at other banks, even if they are not actively recruiting for FT positions?
Following as I am kind of in the same situation
Have an offer at BB/EB in EMEA but want to recruit in the US, knowing that transferring the offer is near impossible especially this year
Looking for any advice, thanks !
Why do you say that transferring from EMEA to US is impossible? If you are within the bank already it could be easier to move internally than re applying to other firms, right?
I meant the offer, if my offer is for the London office my understanding is that it is near impossible to transfer it to NY office since recruiting processes are separate/different but let me know if you heard otherwise
Once in the firm I agree that most of them give the possibility to rotate to another office after 2 years of Analyst
so you have a JPM offer?
Nope, one of the other two.
Then it's MS because GS aren't out yet ;)
Two question for you: (i) is it an offer at a product group or sector/industry team, and (ii) is it the team/culture, or is it the nature of the work (i.e. moving to a different bank but same product/sector wouldn't be of interest to you)?
In general, there isn't much you can do other than apply to FT programs and keep an eye open for listings - when you apply, the FT offer will help you get interviews. In the worst case you stick to the FT offer you have and you can lateral after a year or so to a different team, firm or industry.
It's in a very strong coverage team. It's purely due to culture. The culture was super toxic among the FTs and people would frequently be in the office to 4-7 am due to getting fucked over by other people in the team rather than having a high workload. Analysts were also very open about how miserable they were in the team, while analysts in other teams spoke of a much better culture. I was able to manage it well during my internship but I would definitely not be willing to work in such an environment.
If you absolutely want to get out apply to reputable MMs too. You’d rather be at a less prestigious bank than fuck with mention health working till 4-5 and being back at 9.
Alternative could be finding a group that didn’t have a lot of conversions due to intern quality at your firm, learning a lot about the industry quick and then texting an MD on LinkedIn, meet for coffee a couple of times (easy if London uni) - eventually hint at a switch without pushing hard or being very explicit and you may be able to work something
Hey would it be possible to dm you? have an offer for one of these banks for next year
Would prefer to be anonymous given the sensitivity of the topic. What do you wanna discuss?
Understood, wanted to know what team this is so I can avoid it for my SA stint (I reckon it’s either tech/ media and communications)
Also what teams did have a good culture and how was the conversion overall. Had a friend who did the SA this year and he said that classes were way smaller
I don’t understand why you can’t just move to a different group within the bank? Surely if you got an offer at the bank you’re pretty much “in” and can just reach out to another MD in a different team?
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