Hey, I got a full time offer at BofA IB. I have a 3.3 GPA, double major in physics and chemistry at a non-target school (but, very good school). Do you guys think it is even worth applying to any BB's (amidst the terrible credit crunch) or should I just take the offer and enjoy my last year?
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c-grats
Were you an intern this summer. If so, you should weigh your experience against basically "starting over". How was the culture, the people, your managers?
If you like the company, I would take the position. Although there is no harm in interviewing at selective comannies, particularly non-IB companies.
Yeah, I was a summer. I enjoyed my experience but I would prefer to be at a BB. However, if I can't get a BB job, I would be perfectly fine accepting the offer.
I've got three things working against me. Firstly, I understand that my GPA is low, but there are some circumstances (very explainable, rather not go into them here, but just assume there is a good reason) surrounding my first year at college; my grades are very different now (I've averaged over a 3.8 my past 3 semesters, and over a 3.6 my past 4 semesters, etc...). Secondly, I am not from a core school. Thirdly, we've got the credit freeze.
I do, however, have contacts that are pretty high up at a few BB firms.
Do I have a shot or am I dreaming?
Well you did summer at a large,respected bank and got an offer. That shows other banks that BoA liked you so it will certainly help you out. If you got an offer from another large (albeit not BB) bank, I'd imagine most of the other banks would overlook your GPA and at least bring you in for interviews.
What are your reasons for wanting to be at a "BB" firm?
exit options are better
Congrats. Definitely try to get an interview for BB. It shouldn't be too hard, since banks like to see their competitors candidate prowess. Just don't jeopardize your BofA offer without certainty from the BB. GL
When do you have to let Bofa know?
Congrats--definitely try using your connections at the BBs if you can. Otherwise, BofA is a great opportunity and you can still enjoy the rest of your senior year.
Banks love to steal from each other. I would just make it very clear in a tactful way to each bank you are applying to that you have an offer.
Also, only apply to banks you would take over BoA. You will do better if you do not stretch yourself to thin. Additionally, telling people you interview with you are only talking with a few banks will show that you really know what you want, which is a positive.
Connections (Depending on how high up they are) could certainly go far if you have a BoA offer to leverage. Get an interview, don't jeopardize your current offer, and see what happens.
Thanks a lot everyone, I really appreciate the feedback.
I have a few more questions that might also be useful to others.
On altfp's comment: what do you think would be a tactful way to mention that one has an offer? Do you think there is a good way to do it pre-interview, or do I just have to hope I get an interview and just mention it there? Is there any way to put it on my CV/cover letter?
Also, during a possible interview, what is a good reason to give these BB banks for the switch? In all honesty, I simply like the better exit options (working for more of a househould name also doesn't hurt the ego), but don't feel like this would cut it. Does anybody have some good suggestions?
Anyways, thanks a lot, everyone has been extremely helpful!
How about CULTURE - thats the buzzword. Sure, its a canned answer, but explain how based on talking to your friends, you would fit in better at "x" bank.
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