Leveraging Job Offer for Job Offer
Quick question, I've been going through the interview process for an summer intern position at a really good investment firm, but have yet to receive an offer. I do however have two offers lined up at local small business one of which involves marketing and the other accounting (Both companies are not name-recognizable). Question is, should I email the firm saying that I have offers lined up and that I'm facing a deadline, or will this seem overeager?
Thanks for help
I will talk about my experience...
I did that to 3 other firms I was interviewing, got dinged from all three after I pressed them
But, if the firm really wants you, you should get the job after 1 week or so, not 1 month
If you have another round coming up, I would say don't do it. They might just let you go since they don't have all the information they would like about you yet and you would seem like too much trouble (plus, what are they supposed to say to that, "oh forget about the next round we'll take you now."
However, if you are past the final round and they have all the information they need out of you, then perhaps you can mention that you have an exploding offer and would like an answer. However, don't do this if it is too soon after your final round. If they are slow in getting back to you (this is usually the case), then you can call (don't email).
My personal experience is that after my final round, they said they'd get back to me. A MD/VP got back to me and told me I would be considered (their way of a likely offer, but depends on other school's recruitment, spots available, and market conditions). Two of my offers were about to expire so I politely called him and told him I had quite a few other offers (one of them was UBS IBD). I was told that he needed to talk to the team and would get back to me later in the day. I was polite and professional about it all and didn't try to brag or put him in any kind of position. A few hours later I was given an offer.
Do you actually have a deadline? If not, you're playing with fire and I don't think you have a particularly strong position.
If you do have a deadline, then I would call the firm you're interested in and politely tell them you are very, very interested and would love a "decision" from them. Reiterate how much you want to work for them and that they're your #1 interest.
However, by doing so you're risking the firm not wanting to bother with you and telling you to bug off. I don't think they will be impressed by offers from no-name companies' marketing and accounting department.
Bump for similar position.
Any more insights?
Leveraging S&T Offer for IBD Offer (Originally Posted: 11/10/2015)
Hello WSO,
Recently, I have received an S&T offer at MS/JP/GS. I had also interviewed for IBD at the same firm, but was cut after first rounds.
Do you think the following is possible, and do you suggest I do it?
Someone recommended that I email the Executive Director who interviewed me for IBD first round. Tell him I got the S&T offer, but IBD is still my first choice. If we can talk about an offer for IBD, I am ready to accept. Do you think we can connect some time today".
How does that sound? I am ready to accept the offer if he extends me one. I am worried that he will tell S&T, and that they will become sour. They will know I am uncommitted and may pull the offer, or may not give me a FT offer at the end of summer.
Do you recommend or no? What would you do?
I would not do it. You were cut after the first round for a reason. You were fortunate to receive an offer with another group.
I'd recommend you wait until you get a FT offer and see if you can lateral into the other group.
I wouldn't do that but definitely try to leverage it for banking at another firm
If you did this to me, I'd ding you. S&T is completely different from IB, so that you went through both processes is a red flag to me. I want to give offers to kids who want to work in IB, not kids who are just feeling it out.
Sil He knew that I interviewed for S&T also. The program allowed me to do that. And I had listed IBD as first preference. I told him this, and will be telling him again.
Does that change anything for you?
@White Party Hat" Yep, in that process too. But, I much rather stay with the current firm
I'm sorry, I think that I misread your original post. So, you were dinged in IB, but received an S&T offer from the same bank? If so, the IB ship has long sailed. "Leveraging an offer" does not mean emailing places that dinged you and asking them to reconsider. "Leveraging an offer" means that if BAML gives you an offer, you could shoot GS an email asking them if they could speed up the process or mentioning your BAML offer while interviewing at GS to make you seem more likable You were dinged for a reason, and chances are, they already have selected people.
Yeah, I'd side with the people who have already spoken. That ED doesn't give a sht about your offer, particularly since you didn't even make it past the first round. They've already made all of their personnel decisions so you have nothing to gain and everything to lose. Take the FT offer and maybe you can lateral later if you do a great job, which I've seen before.
Leverage REPE offer for PE? (Originally Posted: 02/08/2017)
If someone got an offer from a solid REPE fund but isn't really interested in real estate at all, would that offer be something that could be leveraged with HHs / corporate PE funds? Or is it too unrelated? All this assuming background is a top BB / EB
What do you mean by leverage the offer? Go to a headhunter, say you have an offer from REPE fund, and demand an offer at a traditional PE shop? I don't know why they would care, they're entirely different industries and unless you're at a top REPE fund, I don't think it'd do much other than speed your timeline up, but that doesn't mean they won't ask why you're recruiting for both REPE and PE funds....this makes no sense to me, sorry
How to leverage current offer (Originally Posted: 03/05/2018)
Hi all, longtime user but using a throwaway in order to remain anonymous. It is pretty late in the game for 2018 SA positions, but I find myself in a rather unconventional position. I will break down my current situation by the firms I am looking to work at:
Firm A - Offer - 1 week deadline Firm B - Top choice - Final round in two weeks (pretty confident I will receive an offer, 85% chance would be my guess) Firm C & D - Networked hard and expect to get interviews but they have not started their recruiting process yet - my guess is that I get interviews from at least one of the two.
My questions are as follows:
What is the appropriate way to structure an email to firm B, politely asking to move up the timeline? It is noteworthy that I would most likely need to Skype in as opposed to come into the office, is this something I should be concerned about? They are a pretty laid back firm for the record.
I assume it is not acceptable to reach out to firms C/D and request to begin the interview process, right? I have been speaking with one member at each firm for 9+ months
All feedback is much appreciated, thank you in advance monkeys.
I'm surprised some firms haven't even started the recruiting process.
Personally I'd let Firm B know that I have an exploding offer within two weeks and ask the if they can speed you up. If they say no I'd take Firm A's offer, interview with Firm B and see if you get the offer. If you do get the offer then I would let Firm A know ASAP.
Also if any of these are reputable firms your chances aren't 85%.
Thank you for your feedback. I think you are right, 85% is way too optimistic. Regardless, I believe shooting firm B an appropriate email is the right decision.
C/D are out of the running, no need to continue anything there.
I think that you can mention to B that you have an offer but I would do it in a very low-key way. Make it clear that you would love to work for them and make it clear you have an offer with a deadline and then seek their advice. Be careful with your choice of title here and "leverage". Have you considered that some firms would take offense at any hint of you using leverage? The job is important to you and your career but to them, it's just an SA kid with limited options.
Thank you for your feedback. I tried to be as delicate as possible and insinuated that I would let the offer explode in order to be considered at firm B.
Leveraging an Offer into top MM (Originally Posted: 12/01/2014)
I recently had a super day at a top MM and am waiting to hear back. I have offers from a couple boutiques that are not too well respected in my area. Is it helpful to leverage these offers in hopes of getting an offer from a MM? Is it possible that a more prestigious bank will take these offers negatively given their reputation?
Any insight would be great!
Even if the banks aren't too reputable, offers are better than no offers...can't hurt to let them know. Might not make a positive difference but I find it hard to believe it would make a negative one.
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