Offer Dilemma: Prop FT offer or go for BB SA?
Here is my situation:
I'm a senior, but have declared 2 minors (Econ and Math) in order to be able to apply for BB SA positions.
I have 2 BB SA interviews... (GS and JPM)
In order to safeguard myself, I also applied for FT positions: Citi Ops - declined Trillium Trading (prop shop) - got an offer today..
Problem: Do I let GS and JPM HR know that I received these offers? Will this hurt or help me? Is this a good leverage tool or do BBs not care about small shop offers?
any advice is appreciated
To be honest I would just take the FT offer you have. Just because you are a summer analyst does not mean you are going to receive a FT offer upon completion of the program. Also, keep in mind that SAs at places like JPM and GS had very low FT offer rates this year.
At the end of the day this is a personal choice. In this market I would personally go with the sure thing.
Congratulations on the FT offer and offers to interview!
I would take the offer, work, and lateral after a year or so. Whatever it takes to get experience and guarantee yourself a job. As long as you have work experience of some kind in an analyst program, a few years from now you'll definitely have a leg up (less competition from other analysts).
Basically, the value of a guaranteed job as a prop trader > the chance of an FT offer * job with a bulge bracket trading group. A couple of years ago, the chance of an offer would have been higher. And the overall value of having a job at all is higher too.
I would continue to interview with JPM and GS. Trillium doesn't sound like an all to great of deal.
Well, since your offer is for FT and you are interviewing for SA, I would definitley accept the FT offer for now. If I were you, I would still interview for the SA positions and let them know that you got an offer, but not that it is for FT, because that might look strange to them since you are interviewing for SA. Just my way of thinking though, not sure if I am right on that. Then in the end, if you get an SA position, and depending on your start date for FT, heck, maybe you could do both! (Probably not though, I would assume).
That certainly puts things into perspective. Thanks for the input you two.
The offer from Trillium is a NON-exploding offer, so I still have time to make the decision. I'll continue to pursue SA though. I feel that if I get the BB SA, I'll be competitive enough to get the BB FT. If I don't get it, I can still apply for Trillium next year.
Either way, it's going to be tough.
Thank again.
take a FT offer no question... i was an SA at JPM this summer for IB and our group hired no one. Offer rates are incredibly low, don't take a chance.
As many have mentioned and advised, take the full time offer from Trillium. From some previous posts, it seem like a pretty decent prop shop. As for JPM and GS SA applications, you would definitely be competing with a lot of other highly qualified students for a significant lower class openings. In addition, even if you do get SA offer and then full time offer, normally you won't start till next Jan or even summer of 2010.
Ling~
I agree with most of the comments above - go with the FT. Trillium is a reputable shop, and I can put you in touch with someone that works there if you are interested, before you make a decision. PM me if so.
can you hold on to trillium for now and see where the sa interviews take you? maybe you wont even get the sa offer in the end but at least you can try GS and JPM is just so much more respected than someplace like Trillium Trading
can you hold on to trillium for now and see where the sa interviews take you? maybe you wont even get the sa offer in the end but at least you can try GS and JPM is just so much more respected than someplace like Trillium Trading
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