Worth it to push others?
Hey everyone, I recently got an offer at one of the MMs (WB, Baird, Lincoln) and was thinking about using the offer to push some other firms. However, I had two things in mind that make me hesitant:
1. I want to be in NYC long term, my current offer is not. Some of these banks that I would take my offer over (Jefferies, RBC, maybe Scotiabank?, etc.) are generalist offers. Aka I will not be guaranteed M&A like I am with my current offer. I am hesitant to trade definite M&A for a potential of getting siloed into a capital markets desk.
2. Assuming I want to re-recruit for full time in NYC, is it wise to use up my connections now to have them push me? I understand that some banks are at the end of the process, so superday conversions are much lower. Does it hurt to get rejected now after pushing a connection and then reapply again and ask the connection to push once more?
I am not leveraging my offer for EBs, I know they don’t care regardless, but I can ask my connections to help out if I am really interested and have an exploding offer. What do you guys think? Is a generalist NYC program worth the risk of trading away M&A?
Based on the most helpful WSO content, here’s what you need to consider:
NYC Long-Term Goals vs. M&A Specialization: If your long-term goal is to be in NYC, it might be worth considering a generalist program at a bank located there, even if it means not being guaranteed M&A. While M&A is a strong foundation for PE or other buyside roles, being in NYC could provide better networking opportunities and proximity to the financial hub, which might outweigh the risk of being siloed into a less desirable group. However, if M&A is non-negotiable for your career trajectory, sticking with your current offer might be the safer bet.
Re-recruiting and Connections: Using your connections now to push for other firms can be a double-edged sword. If you get rejected after leveraging a connection, it could make it awkward to ask for their help again during full-time recruiting. That said, if you’re genuinely interested in a firm and have an exploding offer, it’s reasonable to reach out to your network. Just be strategic—focus on firms where you have a realistic shot and where the potential upside (e.g., NYC location, strong group placement) justifies the risk.
Superday Timing and Rejections: If some banks are at the end of their process, the chances of converting a superday into an offer might indeed be lower. Weigh the likelihood of success against the potential downside of burning a connection. If you’re confident in your ability to re-recruit for full-time roles later, it might be better to hold off and preserve those relationships.
Generalist Programs: While generalist programs carry the risk of being placed into a less desirable group, many banks allow you to express preferences or network into specific teams. If you’re proactive, you might still end up in M&A or another strong group. Additionally, being in NYC could open doors to lateral opportunities at other firms down the line.
Ultimately, the decision comes down to your priorities: NYC location vs. guaranteed M&A. If NYC is your top priority, it might be worth taking the risk with a generalist program. If M&A is critical to your career goals, sticking with your current offer could be the better move.
Sources: Long Term Career in IB | What is the Strategy?, What I've learned so far after 1 yr at a top MBA program (If I could do it over):, Some Observations from an MD, MSRE vs. MBA decision - looking for opinions based on my situation/interests, Q&A: Broke into MM M&A from a non-traditional background and 2 years of networking and internships
Bump
On your first point, what do you mean by capital markets desk? Do you mean coverage versus M&A team? IB and capital markets are separate processes.
From my understanding, it looks like for some of these banks, you are interviewing under a general umbrella of “investment banking”, which describes it as interns receiving the offer and afterwards networking into whether they want to do coverage or product groups. I’m the description of these roles, they mention that we get to intern in “leveraged finance, debt capital markets, equity capital markets, M&A, or one of our industry coverage groups”. So what I am worried about is getting a placement into a capital markets desk instead of coverage or pure M&A
If you consider DCM & ECM as capital markets desks, sure. Feel free to PM me.
your misunderstanding the term "generalist" i think. Normally, that means your still in M&A but not with a specific team... like you will work with different M&A industries throughout your time.
Yes, that’s a good point. What I guess I meant is the “generalist” nature of the internship, where you interview for a general “investment banking” umbrella and afterward networking into various groups. My concern is that since capital markets desks are among those groups, I might be placed into one of them, which is not ideal for me.
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