advice: wait for first choice offer or accept second choice
I'm a senior IBD analyst and I was in the process with an incredible family office fund but it got put on hold when Covid-19 began.
I now have final rounds coming up in a few weeks with two other firms (one megafund and one tiny boutique) and have no idea what to do if I get the offers. I would definitely want to accept either of these and leave IBD asap but.. I 100% prefer the family office.
I tried speaking to the headhunter to see if I could speed things up given the other processes I'm in but they said the family office is going to be on hold for another few months but I should be invited to the next round when they resume the process.
I have no idea what to do because: a) it would be stupid to reject an offer in hope that I would later get this family office offer b) if I was to get an offer and accept I will always be saying in the back of my head 'what if I rejected and waited for the family office and got the offer. I would be far happier'. They all have different strategies/sector focus and I find the family offices strategy /sector focus the most interesting and there are so many more reasons why I prefer the family office c) if I do take the risk and wait for the family office and end up not getting the offer then I would be the world's biggest idiot to have rejected two other offers for nothing,, and I also could end up not getting another offer elsewhere and having to stay in banking another year
Also, I will not be comfortable accepting an offer with intentions to still recruit for the family office and leave 2 months later if I was to get the offer, it's bad faith and something I won't' do
Any advice? What would you do in this scenario?
Go to your other interviews with your head held high. Accept the best option in hand. If you end up regretting later, you can knock on the door of the family office in 1-2 years.
Taking an offer and not showing up may haunt you for years - PE is a small industry.
You would be extremely brave rejecting a good offer in a world that barely stands on its feet - speaking in terms of the economy.
My 0.02.
I have a different perspective. I was in a very similar situation to you and actually declined two PE offers to go the distance with the third process. At the end of day, you want to be really looking forward to your post-banking stint. If you accept an offer you aren’t excited about, you will always have those second thoughts in the back of your mind, and that’s not worth it. My advice is go to the interviews, play out the process, and see how it goes. If you are given an offer and aren’t excited, don’t take it. There will be plenty of opportunities that will come up and you’ll get your shot again even if the family office process doesn’t work out.
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