Question about Return Offers and Recruiting
Hi everyone,
I'm considering re-recruiting for FT after I finish my SA gig in order to go from a LMM to a BB/EB for FT, and most threads I read emphasise the importance of getting a return offer, both for your own security and because it looks better in recruiting.
This is undoubtedly true, but my question is — will firms not care that you've accepted a return offer elsewhere? Thinking of London as most recruiting takes place in Sept/onwards
Thanks!
Based on the most helpful WSO content, here are some key points to consider regarding return offers and re-recruiting:
Importance of a Return Offer:
Firms' Perspective on Accepted Return Offers:
Recruiting Timeline:
Transparency and Communication:
Risk of Reneging:
Networking and Preparation:
In summary, while having a return offer is beneficial, firms may still consider you if you are transparent and have a compelling reason for re-recruiting. Plan your efforts around the recruiting timeline and be mindful of the potential risks involved in reneging on an accepted offer.
Sources: Current IBankers: What would you do if a summer candidate reneged another offer to sign with your firm?, 7 Tips on Reneging, Accepting TWO offers (one SA, one FT) during same year; date clash! Help!, How exactly should I renege?
No, not really.
It's clearly a strong signal bout you as a quality candidate that you received a return offer elsewhere, and we all get the joke that you'd be nuts to decline a return offer (particularly in this market), but that might look towards other opportunities.
What you do absolutely need to do though is have a clear rationale for re-applying. This should NOT be (1) bad culture / didn't like the team / etc. (you don't want to come across as someone who is difficult or can't get on with people), or (2) brand (this comes across as a little juvenile and also suggests that you're only interested in the brand to set yourself up to leave to PE), but rather something thoughtful about the kind of career you want to lead.
For exampe, for BBs, maybe you can create a story about wanting to be exposed to the broadest range of product types (IPOs, leveraged finance, derivatives, etc.) for the learning opportunities, and your MM was more narrowly focused on M&A.
Thank you!
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