Handling Multiple Offers

So, a few days ago I found out I got an offer at a BB. I didn't accept the offer, but verbally hinted that I was almost certain I would accept due to excitement. I also said I would accept if I got the offer at the interview (they asked me.)

Then I found I got an offer at my top choice. Would it be unethical to not accept the previous offer, even though I hinted that I would (but never gave them the verbal yes)? Could that lead to my first choice reneging the offer?

I also feel bad about canceling already scheduled interviews (first and final rounds) at other banks... I really don't want to burn bridges for FT. Would canceling burn bridges?

Thanks for all your help - this whole process of handling offers is very confusing and new to me, so I appreciate any advice.

How to Handle multiple job offers

  • Select the best firm for you
  • Exit Process recruitment respectfully

Winning multiple offers is a great position to be in. However, it can be a confusing process for some. Make sure that you select the firm that is the best fit for you. Once you’ve decided on where you want to start your career, gracefully exit the process with other firms.

It’s considerate to end the process and save everyone's time than to continue interviewing. Some firms may have given you an offer with a “respond by” date. Reach out to human resources before this date and politely inform them that you’ve accepted an offer elsewhere. It is that easy!

from certified user @ul8492"

I agree with the above posts. When I had to decline interviews, HR was actually pretty thankful and even said to hit them up during full-time recruiting. They understand, it's not a big deal. But at the same time, you shouldn't be interviewing after you have accepted with your first choice.

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I do not think it is unethical to go with your top choice. These people understand the process and how things work. You wouldn't be the first person to hint at accepting, and you wouldn't be the last either. If you are honest with them, things will work out. If you want to be at your top firm, then do it. Don't make a decision based solely on what people will think of you afterwards. Most of all, don't have any regrets with your choice. Do what is best for you!

Same goes with canceling interviews. They would probably appreciate it if you were honest with them about other offers. There is no reason to waste your time and their time if you plan on accepting another offer. I think they would respect that, and if you can talk it through with them, I see no reason why you can't form strong relationships by staying in touch with those contacts for FT.

You are doing the right thing with asking for advice. This can be a very difficult and touchy decision and can vary from person to person. I would suggest seeking advice from your advisors and other students/alumni/contacts that have been in this situation or have dealt with it before. Best of luck with your decisions!

 

You should definitely go with your top choice - congratulations.

I don't mean this in a demeaning way, but you need to realize that you're just one more college kid to these banks - you canceling interviews, declining offers, or even reneging has pretty much zero effect on their lives because there are thousands more just like you. They're more than happy to just move to the next name on the list. Their world is not going to be shattered.

This is a good thing for you, because you can politely call up HR and respectfully decline their offer. They'll call the next kid and move on - that's business. They also understand that you're interviewing around and simply chose another offer. They also probably won't even remember you when FT recruiting comes around. If they do, it's unlikely things will be held against you as long as you declined in a professional manner.

- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

I agree with the above posts. Go with your first choice. I was in your situation a couple of years ago with full time offers. I had a couple of offers from BB ibanks and went with my second choice. I picked them bc I felt bad I'd verbally said I'd accept if given an offer and I knew an alum at the bank who really pulled for me. At the time I didn't think I was going to get an offer from my first choice. However, after a couple of weeks of delay my first choice gave an offer. At the time I thought it would be unethical to go back on my word and accept the second choice offer. Fastfoward a year and the bank I chose ended up going through some cataclysmic changes, and I along with a large number of other people were laid off and ended up going back to grad school.

Would things have been different if I took the offer from my first choice? I know they didn't have the huge rounds of layoffs. But the point here is an analyst is just a tiny cog in the wheel to bigger banks. If they were losing money, HR wouldn't think twice about canning you. Unless you do something really unprofessional they probably won't even remember who you are if you apply in a year. So why shouldn't you go with the offer you really want. This way there will be no regret or uncertainty later on if things don't work out!

 

I was in your position my senior year -- had an offer from my top choice bank but didn't want to cancel an upcoming Super Saturday for fear of 'insulting' the other firm. Instead, I got drunk the night before and missed my flight. I frantically called them on the way to airport, they booked me another flight, and I drank way too much at the dinner before the interview. I then went out to a club with the other analysts and stumbled into my hotel room after closing time. I blew the interview the next day (obviously) and probably burned a bridge with that bank.

Here's my point: it's hard to take a Super Saturday seriously when you've already got an offer in hand from your top choice, and you'll probably do more harm than good by attending.

 

Thank you for all your help.

How long is it too long of a time to decide? I know there is a date by which the contract must be sent, but should I decide sooner than that? I want to think this through, but I don't want to wait too long and risk the banks changing their minds.

 
bbhopeful:
Thank you for all your help.

How long is it too long of a time to decide? I know there is a date by which the contract must be sent, but should I decide sooner than that? I want to think this through, but I don't want to wait too long and risk the banks changing their minds.

You can take until the date they've given you. Remember, they're not waking up in the middle of the night wringing their hands and thinking "Oh god, is bbhopeful going to take his offer? God I hope so. Maybe we'll hear from him today!" Once you start work, nobody is going to remember when you sent your contract in, just as long as it was by the date they gave you.
- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 
mango123:
I hate to harp on this topic, but if you have multiple offers, you have to turn some of them down. Will this automatically burn the bridge? How do you handle this without shooting yourself in the foot?

Just cancel interviews / reject offer respectfully and in a timely manner with HR and you should be fine. There's not much else you can do. But don't expect to return for FT interviews if you don't get the FT offer with your SA firm.

 

From a fund to potentially a bank and two funds.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

Just tell them you are involved in other processes and would like to see them through before making a decision. I don't think your situation is overly unique and they should understand.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 
duffmt6:

Just tell them you are involved in other processes and would like to see them through before making a decision. I don't think your situation is overly unique and they should understand.

True dat. Still conscious of how bad it looks when you go "give me a sec", then come back a week later saying "i'd love to work for you".
"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 
duffmt6:

Just tell them you are involved in other processes and would like to see them through before making a decision. I don't think your situation is overly unique and they should understand.

This is exactly what I did when I was deep in the process with firms three weeks ago. There was a fund that I wanted to work for, and two other opportunities that were very comparable. Had final rounds with all three. I was very up-front with the recruiters and said something along the lines of "I want to see each process out, this is one of the biggest decisions of my life and I don't want to rush into any decision." They understood.

Ultimately, I got two offers, managed to get a salary increase from one of them, and had to make the phone call to the other firm letting them know. It was slightly awkward, but remember, they reject applicants all the time. Trust me, they will find someone else.

 

Fair. I haven't gone through head hunters so I would have to speak directly to my potential boss / HR (less awkward if HR). Everyone's advice is pretty much the best / only way to deal with it. Cheers

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

Pit them against each other in a bidding war, the firm offering free Oreos for life will be the obvious winner.

Follow the shit your fellow monkeys say @shitWSOsays Life is hard, it's even harder when you're stupid - John Wayne
 

Remember to do this both ways, because they will be understanding but they won't give you 3 months to see all the processes through, and sometimes these things last forever. So if you do get an offer, tell them you want to think about it and they will give you a time frame like 2 weeks. Then tell the other two that you have an offer that expires but are still interested in their firm and ask if they may be able to speed things up.

 

I went through this process about six months ago. Once you get an offer, inform the other companies you're in process. In fact, you may have to send in your offer letters (although very rarely...I was asked but didn't because that's just not cool in my book). You NEED to keep other people informed, even if the first offer you get is the one you want the most. If anything, you can use other offers as leverage. I finished final rounds for two companies and ultimately chose one that I liked best (and thought was a better fit for me). Best of luck!

 

A new development: the bank, post final round, has asked for a compensation breakdown for the past two years. Any reason for the two years and not just current. I figure it's to gauge my pay progression and hence a proxy for how I'm seen in my current role.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 
Oreos:

A new development: the bank, post final round, has asked for a compensation breakdown for the past two years. Any reason for the two years and not just current. I figure it's to gauge my pay progression and hence a proxy for how I'm seen in my current role.

That's unusual, never been asked something like that. I mean it's not like they have any way of checking what you tell them...
 

Frankly, I don't like it. Make me an offer or not, then lets negotiate. I'm much more inclined to take/advertise a lower number once I know the job is now mine to lose.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 
Oreos:

Frankly, I don't like it. Make me an offer or not, then lets negotiate. I'm much more inclined to take/advertise a lower number once I know the job is now mine to lose.

Maybe tell you them you prefer not to share that type of sensitive information until you have signed an offer letter?

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 

I heard horror stories about Sumitomo. My friend had a recruiter contact him and said the job would be for "top pay" in the industry. My friend interviews and they give him an offer. They only offered him like a 5% pay increase. He declined. The above poster is right, for some reason Sumitomo and I feel like most other Japanese banks simply don't pay as well as the American banks.

Array
 
TeddyTheBear:

I heard horror stories about Sumitomo. My friend had a recruiter contact him and said the job would be for "top pay" in the industry. My friend interviews and they give him an offer. They only offered him like a 5% pay increase. He declined. The above poster is right, for some reason Sumitomo and I feel like most other Japanese banks simply don't pay as well as the American banks.

Thanks brah - this is probably rooted in Japanese work culture where your base is lower but you're guaranteed bonuses (hence the term Japanese bonuses).

Obviously, though, this doesn't apply to Japanese firms in America.

 

Update: Worst case scenario (well, not worst) has presented itself. My least favourite opportunity has offered me a job with a hard and impending deadline. Other two (still haven't decided between them) have another round to go. Both have moved their rounds forward to the closest possible time. This is awesome, stressful, surprising and difficult all at once.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

it depends on how you want to exit, be it pe or bschool. ms speaks for itself. lazard m&a is always a win. jefferies is explosive in terms of deal flow, so you'll prolly learn a lot there. prolly how id go

 

MS LA is a ghost town - execution for WC activity is done from SF/MP (Tech/ Sponsors/ Healthcare). It's a deadend - I'd choose everything else above that, regardless of MS name.

 

Is Lazard in LA? Focused on gaming right? From what I know it's a very small group and I would take MS LA or HLHZ Restructuring over it.

  1. HLHZ Restructuring Personally, I would do HLHZ Restructuring (if this is for SA). That will open up many doors for FT recruiting. A buddy of my did HLHZ Restructuring SA last year and got interviews with Rothschild / Evercore in NY and will be doing FT with one of them come this fall. I believe 6/6 received FT offers but only 1 came back for FT.

  2. MS LA (just for the brand name... is it a generalist program or can you get into the M&A group?) Greenhill (small offcie, yes.. all ex-UBS LA though and will once again open doors) Lazard

Andddd... at the very bottom: 3. Jefferies Lev Fin

 

Lazard, MS, and Greenhill are a notch above HLHZ and Jefferies and will be better for FT recruiting. If Greenhill is a new office and MS is an execution only group, then I would go with Lazard (which group for Lazard)? Lazard IBD will open doors for all BB's and other elite boutiques for full time recruiting. I know someone who went from Lazard SA to Goldman FT. Can't necessarily say the same about HLHZ and Jefferies.

 
Banker88:
Lazard, MS, and Greenhill are a notch above HLHZ and Jefferies and will be better for FT recruiting. If Greenhill is a new office and MS is an execution only group, then I would go with Lazard (which group for Lazard)? Lazard IBD will open doors for all BB's and other elite boutiques for full time recruiting. I know someone who went from Lazard SA to Goldman FT. Can't necessarily say the same about HLHZ and Jefferies.

actually, i know at least one guy from jef who went to gs ft after a summer, though that was in ny office. basically everyone uses jefferies sa as a stepping stone to places like gs (retention rate is terrible)

only choose hlhz or ghl if you are sure you like what they cover - both are solid but very niche/pigeonholing. Based on the people they poached from ubs, it looks like that greenhill office is going to mostly be doing real estate stuff (casinos, hotels, etc), though will probably be decent at it. Obviously hlhz is very solid for restructuring (that office has Andrew Miller, who is one of the best in that field), but you have to really be sure you like restructuring to do that.

MS has a good name, but most of the good west coast groups at MS are in the bay area. I'm not that familiar with lazard in la.

all i know about that jef office is that its really small. I'd take ms or laz over it. HLHZ corp fin shouldnt even get any consideration.

 

Rank:

Lazard (bombass) Morgan Stanley (Executes for West Coast) = Greenhill (New office, Focuses on Gaming) ........ Houlihan Restructuring (Reputation as top creditor-side advisor) Jefferies (Leveraged Finance) Houlihan Lokey Corporate Finance (Middle-Market)

can't go wrong with Laz or Greenhill, even if they're in LA

MS LA is the M&A execution hub for the west coast (sans tech), plus head of the West Coast sits in that office.

========================================= We are excited to formally extend to you an offer to join Bank of Ameria
 

Hey congrats on the offers

here are my rankings

1.

Houlihan Restructuring (Reputation as top creditor-side advisor)

like bigmonkey said, only one came back, but really nice people and top of the field if you like rest.

2.

Morgan Stanley (Executes for West Coast)

of course not the same as ms in the bay area, but still a decent group and great name. very good people too

3.

Greenhill (New office, Focuses on Gaming)

nice people, but the office is really small, make sure u LOVE to work in small teams like 3-4 people and u being the only 1st year analyst.

4.

Lazard

if it's for LA, it focuses on gaming, hotels, and aerospace. I am not sure which group they are hiring an analyst into though. When I interviewed there, it seems like a pretty gloomy place.

5.

Houlihan Lokey Corporate Finance (Middle-Market)

nice people, you will learn a lot from this place.

  1. Jefferies (Leveraged Finance)

the reason why i put jefferies dead last is because of a close friend's terrible summer experience there. Based on what he said, the people were bad and no deals were happening.

good louck on ur search and feel free and pm me

 
eric1025:
The LA offices are quite different from the normal perceptions of the firms. I think several responses were based on the general reputation instead of the specific office.

Yeah I didn't notice at first that they were all LA positions. But still for SA, firm name trumps office location - as long as you get good experience and can speak well about the deals you've worked on. I still think you have more chances getting interviews with Goldman if you do Lazard or MS in the summer than if you do Jefferies or HLHZ. But I am not familiar specifically with the LA offices.

 
Brady4MVP:
If you have money saved up and could get by not getting paid for 2 years AND you BADLY want to get into an elite b-school, then you should take oxfam. Otherwise go with the strategy firm. The work sounds really interesting although Berlin is an awful city in my opinion.

Yeah, not to sound like a douche but money is not that big of a problem for me. I can stay with family in NYC and I lived in Oxford when I was an undergrad so have plenty of friends still around.

Interested to hear why you think Berlin is an awful city.

 
wolfy:
Roland Berger or the strategy firm in Berlin.

Haha this is the only name that I can think of when he said "strategy firm in Berlin" :D

My formula for success is rise early, work late and strike oil - JP Getty
 
24837:
FinancialNoviceII:
the strategy firm in Berlin is both a great experience and is relevant to what I would like to do in the immediate future.

I'm pretty sure you just answered your own question.

Speaking from personal experience: Berger is as great a firm as you'll find in continental Europe. Berlin is AAA+, especially if you're young and single.

Yeah, but I'm trying to weigh immediate future against long term aspirations. Hence my dilemma..

 

Go with Roland Berger in Europe. It is top 5 shop in Europe, and you can perhaps get a MBB exit op. Don't look back.

Don't do Big 4 consulting, ever. Unless it's Deloitte S&O, but then you'd enjoy it better at a Stroud Consulting in that same horizontal.

But, I'd like to learn more about the Oxfam thing from you guys -- and why it's so prestigious?

 
wolfy:
Go with Roland Berger in Europe. It is top 5 shop in Europe, and you can perhaps get a MBB exit op. Don't look back.

as long as you stay in Germany/France/Eastern Europe, the second B in MBB stand for Berger ;) http://luenendonk-shop.de/out/pictures/0/lue_mb_2011_f300511_fl.pdf

that being said, if you're American and you insist on MBB: BCG is going great lengths to pull people from Berger's Berlin office, specifically restructuring. There's probably no better place in the world to lateral into MBB from.

 
FinancialNoviceII:
and I would be working largely within the emerging economies market, something I am very interested in. .

I'm more interested in this part of your post. What emerging economies are we talking about here?

My formula for success is rise early, work late and strike oil - JP Getty
 
Quarterlife:
FinancialNoviceII:
and I would be working largely within the emerging economies market, something I am very interested in. .

I'm more interested in this part of your post. What emerging economies are we talking about here?

Well in my interview, I didnt mention preference, even though I was aware they had concentrations in the emerging markets, because I didnt want to harm my chances by making demands right off the bat and I always felt I can move in that direction. But my thesis was on emerging markets, that I sent a copy to the analyst who did my first interview, and he was quite impressed. I did publish the thing so thought it may sway them.

In my second interview, they briefly covered it to the point I was only aware that they have quite a lucrative interest in Brazil. Although I have no preference, the whole area fascinates me.

 

This seems like a no-brainer - take Berger and don't look back. You have the opportunity to work for a respected firm doing stuff that is in line with your career ambitions. You also have the chance to have some great experiences living in a new city and getting exposed to a different culture.

Honestly, I find it clownish that you'd consider giving up a much better learning opportunity (and chance to live life alone in a new city) for a very marginal increase in B-school chances.

 

If by value fund I'm correct in assuming you want to work in equities, then probably 2? It's a tough decision. I'd personally probably go with 1, but that might pigeon-hole you into working in fixed income. Just my opinion and I'm still in UG heading into IB, so take my advice with a grain of salt.

 

I would say Big 4 > Columbia (try to get in Heilbrunn Center for Graham & Dodd Investing) or another top b-school. I would also advise you to get involved in some extra-curricular and leadership activities outside of work to make your application (and yourself) more well-rounded. Also, you should be managing your own PA in a manner consistent with traditional value investing if that is ultimately what you want to do and reading as many relevant books as you can by the big guys (Graham, Buffett, Klarman, Greenwald, Tilson, etc.)

 
junkbondswap:

Also, you should be managing your own PA in a manner consistent with traditional value investing if that is ultimately what you want to do and reading as many relevant books as you can by the big guys (Graham, Buffett, Klarman, Greenwald, Tilson, etc.)

One of these things is not like the other...

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
 

Thanks for the answers!

From what I've been told - in the BIG 4 M&A position they don't close deals but assist in modeling, doing due diligence and that sort of stuff.

I'm trying to understand what's the reason all three of you are saying to go for the BIG 4.

Isn't AM is closer to finance than BIG 4? I also thought that banks and business schools might look for a certain diversity in their students/hires (up to a certain limit) and that coming from a BIG 4 might actually be a disadvantage here (I guess more people are coming from BIG 4 and accounting backgrounds than from AM). Is it because the brand name of the BIG 4 is that strong or is there another reason?

 

Big 4 because it is internationally known vs your random boutique, which won't help you get into IB in the US. Big 4 because big 4 overseas will translate well to top b-schools in the US, which will help you get the jobs you want.

Not AM because you might get pigeon-holed into fixed income when you want equities. That being said, I might take the AM role if it was for a large, global AM firm- you could turn that into top b-school and equity investing too, I'm sure.

 

I'm always skeptical about the Big 4's "investment banking" groups I have literally never run across an alumnus of any of those groups despite a) having worked at a Big 4 firm and b) dealing with a lot of mid-mkt/lower-mid-mkt sponsors and advisors. That said outside the US, their advisory practices are able to provide a much broader range of services and are taken much more seriously as true transactional advisors.

As to your point on business school, the Big 4 have two things in their favor: a) You can get promoted quickly (at least in the US) and business schools cream their pants over titles-a good performer can be a manager in the Big 4 in 4-5 years and have "management experience" as lead/senior associate after 2. b) The Big 4 are big hirers from these schools so they tend to be somewhat "over-weighted" vs smaller-but-"more prestigous" boutique firms in consulting and banking.

I would imagine that as a foreign applicant with Big 4 experience you'd be competitive for most b-schools.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
 

I'm pretty sure that M&A for the Big 4 is much stronger/well respected outside of the US, particularly in emerging markets.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 

I want to get offers from the other places, because I don't really want the #4 job.

My question is how to go about notifying the other three companies that I have an offer and find out if they want to do anything about it.

 

Figure out which you want more (if you like the firm cultures, people, etc the same, than focus on what you will actually be doing, where you want to go, who has the better name, etc) first, then leverage the on you want less to get it. Don't try and pinball back and forth with offers between them too much, shit will blow up for ya. Also, if one firm offers substantially more than the other (~5% or more), they are obviously looking to spend the money for top talent and will probably do better in the long run because of this

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

Congrats.

How long did Company A (one with offer) give you to decide? I agree you'll have more room to negotiate... especially if you're currently employed. I wouldn't lie and say you have another offer, if you don't. The safer play is to say that you've had multiple interviews with another firm and, based on your discussions, they've alluded to a higher number, all-in. Be careful how you ask for more money. Asking them to "match it" sounds arrogant, to me at least.

I'd be interested to hear from other people who have lateraled.

 

I have multiple offers please comment:

1: Michelle - from a small town near Austin, TX. Likes to party but sometimes can get too crazy. Hates beer and sports. Wont do oral. Dad is super rich (think co-founder of top tier VC fund in Texas)

2 Sarah - trust fund baby from NYC. Super needy. Not hot enough to have to spend a lot of money on but hot enough that my friends would be jealous. Likes sports. Does oral when drunk.

3 - Ana - works back office at UBS in NYC. She thinks I might be able to get her a job at my firm which keeps her loyal. Cute & asian. Went to college with her so all my friends like her already. She works at UBS, so loves oral.

Can only pick one with analyst salary. Advice? Thanks guys.

 
vtech243:
I have multiple offers please comment:

1: Michelle - from a small town near Austin, TX. Likes to party but sometimes can get too crazy. Hates beer and sports. Wont do oral. Dad is super rich (think co-founder of top tier VC fund in Texas)

2 Sarah - trust fund baby from NYC. Super needy. Not hot enough to have to spend a lot of money on but hot enough that my friends would be jealous. Likes sports. Does oral when drunk.

3 - Ana - works back office at UBS in NYC. She thinks I might be able to get her a job at my firm which keeps her loyal. Cute & asian. Went to college with her so all my friends like her already. She works at UBS, so loves oral.

Can only pick one with analyst salary. Advice? Thanks guys.

LOL

 
vtech243:
I have multiple offers please comment:

1: Michelle - from a small town near Austin, TX. Likes to party but sometimes can get too crazy. Hates beer and sports. Wont do oral. Dad is super rich (think co-founder of top tier VC fund in Texas)

2 Sarah - trust fund baby from NYC. Super needy. Not hot enough to have to spend a lot of money on but hot enough that my friends would be jealous. Likes sports. Does oral when drunk.

3 - Ana - works back office at UBS in NYC. She thinks I might be able to get her a job at my firm which keeps her loyal. Cute & asian. Went to college with her so all my friends like her already. She works at UBS, so loves oral.

Can only pick one with analyst salary. Advice? Thanks guys.

I think #1 for exit opps and networking, however, you should really try to push for the oral experience. Chances to get into Jenny or Nina are extremely low without the oral xp. You should also get anal lvl 1 certificate if you still dont have it, that could open quite a few doors in the middle east and asia pacific. Good luck!

 
vtech243:
I have multiple offers please comment:

1: Michelle - from a small town near Austin, TX. Likes to party but sometimes can get too crazy. Hates beer and sports. Wont do oral. Dad is super rich (think co-founder of top tier VC fund in Texas)

2 Sarah - trust fund baby from NYC. Super needy. Not hot enough to have to spend a lot of money on but hot enough that my friends would be jealous. Likes sports. Does oral when drunk.

3 - Ana - works back office at UBS in NYC. She thinks I might be able to get her a job at my firm which keeps her loyal. Cute & asian. Went to college with her so all my friends like her already. She works at UBS, so loves oral.

Can only pick one with analyst salary. Advice? Thanks guys.

"Won't do oral" vs "super needy" vs "loyal, asian, and cute"

Tough choice.

"That dude is so haole, he don't even have any breath left."
 
seville:
Like everyone does, we should put as many eggs in one basket instead of relying on just one.
Not sure you used that idiom right.

If you still have time before you have to decide on the offer keep interviewing. Options are always great to have.

 

You got an offer from your number one choice. Why are you interviewing? To keep good relations with the company? Why does it matter if you're going to take the existing offer anyways? If you decline an offer the day after the interview, they're going to think of you in exactly the same way as they would if you called them and cancelled today.

What industry are you going into, banking? Comp isn't going to be very different from firm to firm for an entry level gig.

The only argument I can kind of agree with is that it's always good practice to interview. You say declining the day after would still give kids opportunities, but you're wrong because you're occupying a seat in the interview room that could go to someone else who doesn't already have a job with their number one lined up.

Sorry, I'm siding with your GF. I don't know what she means about being arrogant, but I agree with her that you should cancel the other interviews. There were a couple guys who I KNEW were targeting NYC and TBH would probably work BO before working IB in a city like Richmond, ATL, etc. I couldn't decide if I was mad when I saw their names on the interview list for firms I was interviewing at because I knew there was no way they would take the job, or if I was happy that there was basically an empty chair and less competition for me. I do know that it pissed me off though.

MM IB -> Corporate Development -> Strategic Finance
 

lol, the idiom still isn't correct. Change the word "should" to "shouldn't" and you'll be good. Is English your second language?

If I were you, I would take the interviews for PRACTICE. Do what's in your best interest.

 

What about the possibility that he may interview at several other firms and find that the culture and/or comp package are more compelling than what he had initially anticipated? At all levels of your career, it is important to get a solid perspective of what is out there and you can only really do that by doing multiple interviews at different shops and meeting as many people as possible.

 
junkbondswap:
What about the possibility that he may interview at several other firms and find that the culture and/or comp package are more compelling than what he had initially anticipated? At all levels of your career, it is important to get a solid perspective of what is out there and you can only really do that by doing multiple interviews at different shops and meeting as many people as possible.

I think we need to know what types of firms OP is considering to judge on the comp package, but if it's for an IB analyst gig they really don't differ... I agree with you about culture but the way OP phrased his post makes it sound like he's really just interested in hoarding offers.

MM IB -> Corporate Development -> Strategic Finance
 
junkbondswap:
What about the possibility that he may interview at several other firms and find that the culture and/or comp package are more compelling than what he had initially anticipated? At all levels of your career, it is important to get a solid perspective of what is out there and you can only really do that by doing multiple interviews at different shops and meeting as many people as possible.

he clearly had a #1 choice for a reason...so that reason wont change now that he has other interviews

sure culture might be a reason to interview around, but assuming that the OP has done his hw/networked (which i can assume he has if he has these offers lined up, seems to be a smart person/well prepared) his #1 choice will be where he ends of going anyways

dont be an asshole, email the places you have interviews with say you have taken an offer elsewhere and wanted to notify them to give other candidates a shot given the level of competition. you will actually be seen as CLASSY and NOT a douche. going to the interviews and declining the next fucking day will show to them that you were not considering them as your first choice and its not that hard for them to check linked-in or other people to see where you ended up and see that you really jerked their chain just for your own ego

congrats, take ur #1 choice (after-all you picked it #1 for a reason, stick with your gut) and give the other people struggling a chance for the spot

(disclaimer- im a junior so this does not even pertain to me/benefit me in anyway)

 

I would say take the offer and let the companies you know you aren't going to work for know as soon as you can. They aren't going to be offended, and they will honestly be more frustrated if you wait longer and further into the process to let them know you aren't interested. First off, you aren't going to burn any bridges by letting them know, and secondly why do you even need to 'maintain a relationship' with a bank you aren't going to work for. Even if in a few years you go back they aren't going to remember you.

 

Wasting an interview spot will not endear good relations with a firm. It will irritate them if you interview and decline them the next day, because they will know that you never even considered them and they could have interviewed someone else. If you are willing to see how the offers play out and consider all firms, then I think it's fine. Also, if you were an experienced hire where you would be expecting to negotiate, then I would absolutely do all the interviews. In that case, you should still be willing to listen to all the offers because even if you didn't like a firm as much, they might be willing to pay a lot more money.

If you are really set on the first firm, then cancel your other interviews. There's no tangible upside for you.

 

Yeah, if you knew for a fact that you were going to take this job take it and cancel all upcoming interviews. You are just going to piss people off my wasting their time. You are not going to build relationships by interviewing with companies and rejecting their offer, you do it by networking. In fact they would probably respect you more by dropping out of the process early, instead of waiting until the end.

Instead of spending time interviewing, I would go out an enjoy life now that you've got an offer.

Listen to your gf bro.

 

I would say either Big 4 or Developer. With Developer being a slight #1. The research role is a good opportunity no doubt, but from what I know about research roles at firms that big is that you really wont have an opportunity to work on a deal from beginning to end. You will mainly be researching markets and working on specific assignments at probably the similar stage of each deal (if I am wrong on this, anyone feel free to correct me). Big 4 would be a solid name on the resume and gaining M&A experience is always a good way to learn and if you decided to move into REPE they will probably get their nut to seeing M&A on your resume as usual. But I think developer is my first choice, especially if they are flush with capital and ambitious as you say. The experience of being that close to each deal will give you great experience and exposure that you can talk about in future interviews for days (if you even decide to leave). Basically, in RE as I am sure you know, Experience>Brand Name, and if you want to stay on the development side going from small developer-->big developer is probably better than your other options.

 

I haven't lived in Australia for a decade, but I'm very familiar with the Australian scene and have an Australian passport and accent.

I agree with @"UnclePanda" that Big 4 audit is your best ticket. Moving from BO to FO is very much the exception rather than the rule and your standard FO person who makes the decision would rather keep a highly effective BO or MO person in BO/MO being effective than move them into FO. I've seen very few movements from MO to FO and no BO to FO in my time in IB.

Working for listed company - this is an option for people leaving IB and very rarely an entry path into IB. Big audit looks far better as Big audit is about dealing with clients and developing technical skills.

PM me if you'd like to discuss more.

Those who can, do. Those who can't, post threads about how to do it on WSO.
 

Thank you for your words @"UnclePanda" and @"SSits" On a related note, how are the exit opportunities if I go with the financial/management reporting offer especially if I wanna end up in MBB/business consulting? This is what I'm leaning towards since I know the work (at least for a first-year grad) will be more interesting for me than Big 4 audit although I am aware staying in Big 4 until senior or manager (4 - 6 years) can open a lot of doors. Both offers will pay for my CA.

 

hi mate

my honest opinion is that big 4 audit is your way to go.

heaps of people do IB for two years and dont like it because of the hours and mundane work. thing is, they do it because they know they will likely be winners afterwards.- it opens huge doors for them whether it be business school, MBB, HF, PE etc.

this is what Big 4 audit will do for you. I work in ER, plenty of people with audit backgrounds move into ER even though you wouldnt think it. if you understand numbers, you can do pretty much anything. audit is pretty much a training course in numbers..

also in audit, you will learn core skills such as attention to detail, picthing, deals and presentation...

if i were u, id choose audit big 4 any day of the week. short term pain for long term gain. you also have to smash it..

 

Chiming in again to endorse @"UnclePanda"'s view.

A key difference between working in an ASX50 and Big 4 audit is that the latter involves continuous client-facing work. Servicing clients, responding to pressure from them, dealing with their demands - that develops critical skills for the rest of a front office career.

In my view, lack of these skills both is a huge obstacle for someone to move from BO/MO or corporate into MBB or IBD. Client servicing is what MBB and IBD is all about.

Those who can, do. Those who can't, post threads about how to do it on WSO.
 

I agree Big 4 audit is a good training path, well recognised, offers good exit ops etc etc. BUT it is a brutally tedious and soul-sucking commitment with atrocious comp for very bad hours. In my opinion it's unnecessary given the OP's endgame. The competition between young whippersnappers in audit pushing for corpfin is just too damn high. Or if they apply direct out of audit for a role at a bank there is nothing to differentiate them. The assumption is that they didn't get the marks to get a job they actually wanted straight out of uni. I was in the same boat when I graduated instead I opted to do an MFin, boost my GPA then fortunately landed a grad position at a BB in Sydney. Not saying that's going to work for everyone, but I only had to bust my balls for another year to collect a masters degree rather than a minimum 2 year commitment to slave labour.

I honestly think the ASX50 offer might even be a better option than Big 4 at this stage. It very much depends on the company, the role and the opps to move into corp development, but I would argue that's a better bet for eventually rotating to MBB rather than from audit. Big 4 is probably a better shot than mgmt accounting at an ASX50 financial services firm if you want to do pure IBD however be warned that the chances of this route are insanely slim. Chances are better for moving into a role at a global investment bank but outside the pure IBD since that's only a very small fraction of what banks actually do.

Good luck OP.

 

"I graduated instead I opted to do an MFin, boost my GPA then fortunately landed a grad position at a BB in Sydney. Not saying that's going to work for everyone, but I only had to bust my balls for another year to collect a masters degree rather than a minimum 2 year commitment to slave labour."

thats precisely what I'm saying. You did audit and look at you now. Obviously its difficult to jump from audit straight into MBB. But if you have a MBA/ MFin and a big 4 (3-5 years experience) on your CV, you will be a gun. Just like you mate.look at your own path to BB.

 

If you are looking to do wealth management then take the role at MS and try to network into that department. The ideal scenario would be that you would start in some kind of analyst role (actually conducting meaningful work in terms of research) regardless of the department and then make the jump. However, since these are your only two offers, I would take MS Ops over Bloom if you want to try and make the jump to wealth management.

 

I agree with the poster above. If Wealth Management is your first choice, MS is the way to go. The entry-level WM program doesn't follow the same recruiting timeline as IB, so they'll likely have some spots open even now.

 

MS all day long. It's a better brand, and it's in NYC. If you do well, you might be able to move around. The social aspect of being in NYC vs Princeton for a recent college grad should not be discounted.

 

Thank you for your input. Since company #2 is 2000 miles away and I would be relocating, I simply asked for an extension because before moving my entire life across the country, I want all my ducks in a row. They were more than willing to extend it another work. On Monday when speaking with #1, I will simply inform them I have a tight timeline. So it looks like everything is playing out fine. At least with #2

 

its bad form to say to a firm that you are interviewing elsewhere after they have extended you an offer.

However, this doesn't mean that you don't have any options. This is an exercise in discretion. You can tell them that you cannot make a decision until you discuss it with your family, who will need more time, for reasons that you cannot disclose. If they ask if you are interviewing elsewhere, you should simply repeat "i cannot make a decision until i discuss it with my family, who will need more time"

If the firm tells you that they need an answer or they will rescind the offer, i would tell them that you will convey that message to your family, but you are previously obligated in this matter to gain family consent, and you hope they will understand and be patient, as you are required to make these long term career decisions as a family.

If they say its "my way or the highway" well then you have a tough choice to make. You can accept the offer, and then quit if your better choice says yes after the fact...and feel just fine about it...because they forced your hand in the process. i would do this without losing any sleep over it.

 
its bad form to say to a firm that you are interviewing elsewhere after they have extended you an offer.

I disagree with this. If you already scheduled another interview before the firm extends you an offer there is nothing wrong with letting them know that. I went through this exact situation. I told the firm that first offered me that I needed another 1.5 weeks to complete my outstanding interviews and they were fine with it.

You can tell them that you cannot make a decision until you discuss it with your family, who will need more time, for reasons that you cannot disclose. If they ask if you are interviewing elsewhere, you should simply repeat "i cannot make a decision until i discuss it with my family, who will need more time"

Agree. It really helps if you're married because you can use this as an excuse, "I have to talk to my wife/husband about it." Pretty much everyone respects this.

If they say its "my way or the highway" well then you have a tough choice to make. You can accept the offer, and then quit if your better choice says yes after the fact...and feel just fine about it

Speaking of things that are bad form....I personally would not do this unless there was an extreme difference between the two offers. Keep in mind you will permanently burn a bridge and tarnish your reputation if you do this.

 

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