Bump a verbal offer?
I received a verbal offer from a great bank (upper MM) and i’m in very advanced stages with an EB (passed all interviews with the EB and they asked about comp and dates). The EB has a much higher base but I liked the culture and the ppl in the smaller one and I want to go there (They know i’m in late stages with the EB and fast tracked me since). They offered to buy out my bonus as my signing bonus. I am wondering if I should: 1. Leverage my late stages with the EB to bump my signing bonus to compensate for the difference and withdraw from the EB, and 2. Send this request before I get the written offer?
Yes, this should all be in writing. If you want the smaller bank to buy out your bonus as your signing bonus, you not only should clearly delineate that on paper, but you should also write down number specifics. If the writing is too vague, that smaller bank could end up screwing you with a way smaller "bonus." Make the contract specific as possible.
Yes, absolutely send this before signing the offer. Once you sign the offer, you have no leverage. Kinda like after a girl sleeps with you and is getting all clingy.
I agree, leverage tf out of it but make sure to get every single detail in writing (bonus, bonus amount, when bonus will be payed out, etc). It’s important to be meticulous with these type of things
Thank you! Great advice. I meant whether I should send it before getting the written offer (as in, respond to the verbal) or wait to get a written one. I got the verbal Friday and should get the written on Monday.
No point reaching out to them on a Sunday, just send it early Monday whether or not you've gotten the written offer. That part doesn't matter as long as you don't sign the offer until it has all the details you want in it.
And another note - in the verbal offer, they stated the amount they will give me as the signing bonus (which is my year-end bonus I'm having on the table). My Q is should I wait for a written offer to start negotiating, or should I negotiate before getting a written offer?
What’s the difference in comp and why are you eschewing the EB for the MM bank?
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