How to leverage an offer to get another
Would like to hear people’s thoughts and experiences when it comes to receiving an offer from one company and using it to speed up the process for other interviews/ leverage it for a better offer from a different company (ofc doing this in a respectful way that wouldn’t hurt my chances or get the current offer reclined) I am in the process of receiving an offer for a t3 city but am in the early process for IB role in nyc… obviously nyc is my target city and would be disappointed if I had to move to a different state. Would like insights on how to use my t3 city offer to speed up some interviews I have for nyc. But am still willing to move if nothing else comes through.
Bump
I am a mentor and a VP on the buyside and have advised several mentees both WSO and outside on these types of situations.
It is very much a case by case basis, but in general:
If you have made a good rapport with someone during the interview process (are reasonably confident they would hire you if the decision is theirs alone) - send them an email and cc HR. Otherwise, just email HR.
What to say in the email?
Say that you have received a job offer. Be as vague as possible but it would still be helpful for them to know if it's for the same/similar role or something different.
And say that you have a positive experience so far with the firm and would appreciate it if they can get you an answer by X date (which you need to respond to your first offer). If they did not react to that within 48 hours then you can move on and know that you were not strong enough a candidate for them to care.
If you were trying to get a better offer from another company - this is much harder and usually does not work. The best you can do is - say that you were offered X (was it an extra salary? signing bonus? relocation stipend? other valuable perk?) and that it makes you torn because while you like the place you're emailing more, this extra bit goes a long way towards Y - this is a bit more effective if you're from a lower middle class background. It is pretty much impossible to get a bidding war given how competitive it is and how replaceable the role is, but there is a slim chance you will get them to match their competitor's bid.
Feel free to message me if you'd like additional help
Thank you, this is exactly what I was looking for
Bump - I've received an offer to lateral to another EB in London, is it worth trying to leverage this to speed up my buyside processes or not? Conscious it's not similar roles and the buyside people might just ask why I'm even trying to lateral to another EB
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