SA Offer at DB and Haven't Heard from Other Places, What Now?
Deutsche Bank extended me an IB offer yesterday, shortly after the final round interviews. They're giving my two weeks to decide on the offer. I applied relatively late to other places, so I've only done a few HireVues so far and have one additional first round coming up. I don't want to just take the first offer I get but also really don't want to drop this offer in case nothing else works out (despite DB being in a bad spot right now), and I literally haven't heard anything from the other 10 places I applied.
What do you guys think I should do? Should I accept and withdraw all my other applications? Should I decline and hope a better offer comes? Any ideas on DB's outlook and the likelihood of a return offer?
Thanks in advance.
Where is your first round?
MS
See if you can accelerate. If they decline, I probably wouldn’t hold out, and just accept the DB offer. It depends on how risk adverse you are but ultimately DB is still a great job + it’s pretty late in the process to gamble. That’s my two cents.
Are you a target or non target? Do you have any connections at the other places? Do you have any sort of indication that you might get an interview anywhere else?
Target, not many connections.
Hey congrats on the offer. If you applied to JPM, MS, BAML, I would say wait for those as they are still active in the process. Can't speak of other places as these are the ones I'm familiar with.
Have you been networking with your remaining applications, and do you know where they stand in recruiting?
If you have strong connections, worth letting them know of your offer (2 weeks is enough time that most will accelerate) but if you are just applying online I would take the offer. Or if you're at a target with additional OCR rounds I might consider holding out but otherwise would not.
If you just applied online, I second that - just accept the DB offer. I had plenty of friends with summers there this year and they seemed to have enjoyed it. If you have connections at other banks, however, reach out to them and see if you can accelerate the process.
Thanks for the advice guys!
If time runs out, take the offer. DB may not be in a great place now but you can still learn valuable IB skills and leverage the name for FT recruiting next year. Plus, its a summer internship so you won't have to worry about being let go in 2 years when DB collapses.
That’s definitely the downside case. Base case would be that DB stabilizes in the league tables and whatnot after cutting out the cash-bleeding S&T arm. Upside, they continue to invest in NA advisory and rebounds.
I certainly don’t think DB is in a great place but also wouldn’t short their equity with the hope of it going to zero.
That was my logic as well. Thanks for the input!
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