Potential multiple offers
1 yr into career in valuation and looking to switch into a better role. Currently interviewing for 1 IB, 1 S&T and 1 ER role and if I get all offers they will come about a week apart with ER and S&T around the same time then IB looking like it will be about a week later. IB is top choice but really looking to get out of my current firm (small valuation shop).
My question is what do you do in the scenario where you only have so long to accept the offer and the other offer comes in after you accept. how bad is it to reneg on an offer to take another one a week later. open to all advice on how to play the situation. will leave my current role if any of the 3 offers come in but would like to be able to make my decision with all 3 or however many I get in hand
Navigating multiple offers can be tricky, especially when timelines don’t align. Based on the most helpful WSO content, here’s how you can approach this situation:
Communicate and Buy Time:
If you receive an offer from ER or S&T first, express your enthusiasm but ask for additional time to make a decision. You can say something like, “I’m very excited about this opportunity and want to make the best decision for both myself and the firm. Would it be possible to have an additional week to finalize my decision?” Employers often understand that candidates need time, especially for such significant career moves.
Leverage the Timeline:
If the IB process is your top choice but lags behind, consider reaching out to the IB recruiter or hiring manager to explain your situation. Politely mention that you’re in advanced stages with other firms and ask if there’s any way to expedite their process. While this doesn’t guarantee a faster timeline, it shows your genuine interest and might help move things along.
Reneging on an Offer:
Reneging on an offer is not ideal and should be a last resort. However, it’s not uncommon in the industry. If you must renege, do it professionally:
Evaluate Each Offer Individually:
As one WSO thread suggests, decide if you would take each offer on its own merit, without comparing it to others. If you’re genuinely excited about an ER or S&T role and would accept it regardless of the IB offer, it might make sense to move forward.
Stay Professional and Confident:
If you do end up reneging, remain confident in your decision. Firms understand that candidates are looking out for their best interests, and while it’s not ideal, it’s part of the hiring landscape.
Ultimately, try to align timelines as much as possible, but if that’s not feasible, prioritize the role that best aligns with your long-term goals. If IB is your top choice, do everything you can to keep that option open while managing the other offers professionally.
Sources: Guide to Dealing with Competing Offers and Timelines, 7 Tips on Reneging, Employment Dilemma, https://www.wallstreetoasis.com/forum/investment-banking/feels-like-i-got-bullied-into-accepting-an-offer?customgpt=1
insert customary congratulations on UBS comment
Jokes aside, bump, hope you get some good responses
bump
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