Hypothetically, what would you do in this situation:
Say you have an offer for PWM at a BB already. Additionally, you are waiting on an offer from a MM DCM gig where you have been given encouragement that you have a very good chance (will know for sure in March). You have to decide on the PWM before march. What would you do?
(This is both for NY btw)
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Which one would you hypothetically prefer? Judging by the wording you want the DCM one right?
Depends how confident you are on the job (you can't always be certain), also would you be able to rebound back if you were to hypothetically miss out on both?
PWM is a growing industry in my opinion as HNWI increase globally and it's still quite prestigious. Wouldn't get too cock-sure in this environment and take the offer at the BB. Very good name on the CV at the end of the day
What year in school are you? Have you done any other internships before? What's your endgame -- I'm assuming you want to be in banking?
I am a senior- this is for full time. Banking is not my desired endgame (that would be AM i think) but I would like to be in banking to get to where I want to go. Thanks all, just trying to get different perspectives
Take this with a grain of salt because I'm no expert on it, but depending on the BB the PWM and AM divisions could be rather closely linked, so it might not be such a stretch to move from one to the other, especially since you will be working in New York already with the PWM job. PWM to AM honestly might be a more natural path than MM DCM to AM, but I'm not sure.
First and foremost I'd reach out to your contact at the MM and tell them about your offer and see if anything can be done to speed up your process there. Failing that I think most people would advise you not to turn down a job offer just for an interview elsewhere in this environment. Best of luck with your decision.
If AM is your endgame then choose BB WM. Finance is a small world, don't burn any bridges by choosing your offer then turning down. I agree with above, ask if the MM to see if they can speed it up.
is there any negative consequence (such as law suit, etc) that could result when you accept an offer then turn it down later for another job? Or do you just get a bad rep for it
Read your offer letter or whatever employment contract they make you sign, but typically any IB analyst position is at-will employment, meaning you can leave whenever you want, so no, there is no legal recourse for a reneging an offer (there is reputational risk of course). Financially you'd be responsible for paying back any signing bonus.
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