Two offers - what to do?
Hi all. I currently work at a lower sell-side BB for one year. I have received an offer to lateral from another sell-side BB (much better group). However, I am still interviewing (final stages) at a buyside job where I think I have a good shot at getting the job, but I don't hear a final answer from them for 2-3 weeks. The sell-side bb wants the signed offer letter back within a week (I already have received it) -- what is the best way to proceed? Accept the offer / sign and reneg if I get buyside? Ask for more time? What else can I do?
Ddepends on which job you want more. Do you want the sell-side more or the buyside more?
buyside of course
You tell the buyside shop that you really want the job but have an exploding offer elsewhere and would like to know if they could give you an answer sooner / speed up the process. You tell the bank you want the job but are waiting on your current employer to give you an answer on bonus pay (or some other bullshit). If you can't get either to budge, then yes you accept the offer and reneg - always put yourself first in this industry.
There's not much else you can do other then decline the offer and cross your fingers. Not like you need to lateral anyways if you want to transition to the buyside - clearly you're getting looks and if the current process doesn't pan out just keep recruiting at your current firm. It would actually be harder to recruit soon after you lateral since people would raise concerns about you leaving after one year to another bank were you just started and already want to leave that one too.
Thank you - I have done this. How bad is to reneg on a lateral offer? I assume it's prob better than joining and leaving in a few weeks
It depends but I'd imagine it'd be perceived very differently if it was renegging for another bank vs a buyside gig, Unlikely it'll come back and bite you in the ass b/c I don't think anyone knows you well enough to remember. If this is your career goal then who cares.
I'm sure there are threads on here where you can read experiences with renegging.
im sitting in the office past midnight on a friday reformatting a zillion tab excel model
ive heard magical, marvelous, and mysterious things about teh buy side... where it's less of a circle jerk and you get to use your brain.
i'd wait for that offer baby GL
but do i accept or not for the buyside firm? its honestly a really good group and might even be better for me long term
sorry i was working late last night and not thinking.
yea the best decision would probably be to lateral to the better group, because it might present better buy-side opportunities down the road and you appear to like the group as well. additionally a bird in hand is better than two in the bush and you don't want to stall the offer for too long. go for it
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