Using my FTO from Moelis as a leverage for better banks?
Hey Guys,
I couldn't believe it when we received the email that we'll get the full time offer. I wanted to ask how I could best lever that offer to receive interviews at more major banks (GS/JPM/MS) given that we just received it as a gift and not due to our performance. Should I be completely transparent here or just not mention it?
Thank you
Dude you’re given a full time offer from a top tier boutique that most people on this site would take in a heartbeat. The firm is giving you the benefit of the doubt by extending you an offer without having seen you work yet. Just take it and run.
If I don't make it to the Big 3, I can still take the offer of Moelis. I just want to explore my options a bit and I am very thankful that I am in this position.
Are you trolling?
Most people would take Moelis over GS, JPM or MS - and certainly no one sane would risk losing the Moelis offer to recruit for GS, JPM or MS in this environment.
Maybe some people think Moelis is too sweaty and they want to work at banks with better cultures?
This is false: the branding of a JPM/GS/MS is unbeatable in not only the finance world but the general "corporate world"- you can legit go anywhere after a stint at one of those banks: MF PE, Hedge Funds, Government, Google, anywhere.
Moelis on the other hand: great shop, but nowhere near as good recognition outside of finance as the top tier IBs- sorry I had to write this because you are misguiding people by writing that.
Thanks - how many years of experience do you have?
3, also it doesn't make sense to ask that, I can still point out what I see.
Your name certainly highlights experience...
I can't believe how stupid people are being lately
Congrats.
GS/JPM/MS (and all other banks) already know you got the offer as a gift. We will likely assume you are shopping the offer you got. The way the interviewer will approach and think of the situation is case by case. Regardless, you need a really good answer to (i) what did you actually do in 4 weeks as a summer analyst? and (ii) Why are you trying to move?
Don’t know why you’re getting backlash for asking this. Historically, lateral hiring happened at the end of the summer and you are correct that having received an offer is a prerequisite to make a move. An “unearned” offer is unprecedented so no one can say how banks will view it. My advice would be to focus on crushing the modeling tests, etc. that Moelis gives and be able to speak to high performance on those.
All that said, lateraling is typically a function of a bank needing to expand their class. The likelihood of that seems slim given the current circumstances.
Take out the quotes around unearned. All this candidate did was pass a Moelis superday during college and is now "leveraging" this act of goodwill.
Second this, if I was at Moelis and found out, would pull this kid's offer. Sounds like he wouldn't fit in with the culture anyway.
I'm dumbfounded. This is why we need to have proper summer internships instead of giving out FT offers.
I'd rather work at Moelis than GS/JPM/MS, especially given the ability to do RX. Like other people have said, you didn't necessarily earn your offer, it was just given, and so I think a lot depends on other banks. If everyone does the same thing, then you'll be at an equal level, but if most banks don't cancel then you'll be inexperienced competing with people who did a full internship
This is why they can give FT offers to everyone..they know that a number of idiots will jump ship or get caught trying
People like you are why banks are hesitant to do this - kudos to Moelis for doing it regardless, and as far as I know they are as sincere as a bank can be in improving their general rep (it's still sweaty, but not an outlier by any means).
Also I would stick with an EB in these times, especially with a strong RX platform that allows analysts to cross between RX/M&A and industry groups
Leverage for a GS FT offer and work at both places virtually, like that idiot from yesterday
You need to check yourself. Most people right now are losing jobs and it’s practically impossible for new grads to find any. Other SAs are worrying about whether they’ll have an offer, or if they’ll even have a chance at proving they deserve one. Trying to recruit rn when you have an offer at probably one of the safest shop (you get IB and rx, and there’s no shortage of deal flow and learning opportunities) on the street will not only make you look stupid, it will inevitably fail you. If you don’t like that you received this as a “gift” then earn it when you start working and stop shitting on the goodwill that moelis has shown you. If you don’t think that you can succeed in this environment and you don’t wanna try, you shouldn’t have accepted the offer and you can leave now. I’ll be in your analyst class and all I’ve felt is grateful and excited for the past few days. Today I lost a bit of that excitement knowing I’ll have to work with an idiot like you.
Retard