Going to Interviews after Accepting an Offer
Is it okay to continue to go to interviews with other banks after accepting and signing a contract with a BB?
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People do it, but it is definitely frowned upon.
It's a bit of a douche thing to do if you have no intention of proceeding with the application process past an offer stage. There are other candidates who's spaces you are taking up.
I know of a bank that, if they find out you are still interviewing after you accepted their offer, will rescind their offer AND call the other bank and tell them you had already accepted an offer.
Interviewing After Accepting Offer - Is It Worth It? (Originally Posted: 09/20/2014)
Hi Guys,
If I have accepted an offer from a big investment bank in New York, but I am currently interviewing with some consulting firms.
My question to you guys is, what are the risks I am running?
Will the bank find out? should I be honest with the consulting firms about having accepted the offer?
Thank you any input is appreciated!
Damn lol had no idea a bank would go out of its way to do this
regardless, i would be scared shitless to interview after i accepted my offer for this reason above, another reason being finance is very small and many people know people in other firms and can check if you've signed/reneged and looks bad to your name
and for my own conscious, its pretty inconsiderate knowing that other aspiring monkeys would kill for that interview when you already have an offer. think of others before you do this. and if you already got an offer, congrats
http://www.wallstreetoasis.com/forums/interviewing-after-accepting-a-bb…
Not sure how relevant, but might be helpful.
I mean, why would you do that? There was another person who made a thread like this and everyone shit on him for it to.
Dangers of Applying to Other Jobs After Accepting FT Offer (Originally Posted: 10/08/2009)
After an SA stint, I accepted my exploding BB IBD offer last month. I'm back in school now and there are megafund PE analyst postings up. I know my chances are slim, but what's the harm in applying?
Is there a danger of the megafund seeing my summer firm and contacting them? I'm scared of getting my original offer rescinded if they find out I'm interviewing. I would only reneg if I got the offer but don't want to lose both. Thoughts?
...but I have heard of some PE funds not informing you of finding out that you have accepted another offer, inviting you to an in-office interview and inviting HR from the bank where you accepted and bringing in all the fund partners to watch as the HR women cane you. They then sodomize you with your offer letter.
You'll be fine.
hahahaha
That was hilarious. I interviewed at a ton of places...granted I didn't accept an offer, but the bank that I worked out as a SA was surprised when they found out that I wouldn't be accepting. Places don't contact where you summered. If you had an offer and didn't accept that would make you look bad to the place that you summered at, and no firm would do that to you intentionally.
There are only two exceptions to firms not contacting your summer internship firm:
1) Someone on the recruiting staff knows someone at the firm as a friend and checks up on you
2) Occasionally, references are asked for, and they sometimes do follow-up on that. This is extremely rare though, and I only know of it happening for certain PE/HF jobs. Most of the time when they ask for references, they only follow up before you start employment and just make sure you actually worked there.
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You should not try... As usual, that's when you get a FT offer that you get even more interesting offers. Be happy with what you have and stick to it rather than trying to have one's finger in one more pie.
While your quaint reference to sticking appendages in pies was amusing, I'm not sure why you would take, for example, UBS banking over Blackstone PE. Not that BX PE would hire from UBS, but just sayin'
You are misrepresenting yourself. If you get asked if you got an offer (and they DO ask) and whether you're going to take it, what are you going to say?
You say that you enjoyed your experience and would definitely be willing to go back, but would rather explore other opportunities that are more in line with your aspirations and goals. What was so hard about that?
thanks for the replies guys. decided against it. limited upside and too much downside. almost had me going with the inviting hr for the superday lol.
Interviewing after accepting FT offer (Originally Posted: 09/23/2015)
Accepted a FT offer at what's considered a BB by some but not located in NYC - will let you deduce. I asked to extend after they gave me just 48 hours to accept, but it wasn't enough time to allow me to attend a superday at a BB (Citi/DB/UBS) in NYC. Wanted to get some thoughts on how I should proceed if my long term goal is MF/MM PE.
Do I tell my contacts at the BB or other BBs I've accepted another offer? Do I attend the superday/keep interviewing with other BBs? How do I address the "Do you have any other offers?" realm of questions? If I lied about the previous question, will my offer get rescinded if they find out? Feel free to address any other issues you think might pop up.
I was placed in a great group with the firm I accepted that has a solid track record with PE placements, but I just think I'm making it harder on myself if I'm not in NYC.
Noob question but how did you deduce which bank it is? Can't figure it out haha.
Went through my offer (not a contract!) with lawyers, message me if you have questions. Don't want to say in front of the throng of angry dogs here.
Wells?
Any other comments? I understand it's risky, but I feel that if better banks are calling, then I should be trying to do the best thing for me.
You're gambling your entire career here. If you get caught, you will lose your offer and probably get your resume forwarded to other banks. There really is not upside to this. Take your offer, work there six months, and then reevaluate your position. If you want to lateral, it will be relatively easy (compared to FT recruiting).
NYC/SF pay goes very far in Charlotte...
I've also seen ppl makes the jump from "that semi-BB" to GS/JPM/LAZ/MO Co after their first year. Don't sweat it.
I'm curious how this process would work. Grind it out first year at Wells Fargo and skip PE recruiting, lateral to one of the above as a 2nd year analyst, then begin PE recruiting from there?
Would it be an easy sell to HHs that I wanted to lateral before reaching out or would they want to know why I hadn't interviewed yet? Also, would I be best positioned to stay a 3rd year so I could recruit against 1st years?
Appreciate all the responses.
Guessing Middle Market at Wells. If so, that's a solid group and MM PE is very doable from there.
Bump.
Interviewing / accepting roles after accepting others (Originally Posted: 04/13/2014)
I have applied to three finance roles.
I have received an offer in the last few days from one, however, I have interviews with two companies that have stronger roles and career prospects. The problem is that these interviews are in 4 and 6 weeks time.
I'm unsure how to manage this situation, and I would imagine many of you have had similar problems in the past. There is no way I can risk not accepting the offer I have, however, it makes it difficult for me as I think I have a chance at the others.
Can anyone offer some advice on such a situation?
1) Is it okay to reject a role you have accepted a month down the line? I personally think this is a bit of a dick move, but others have said there is nothing wrong with it...
2) Is it okay to keep interviewing when you already have a role accepted?
Thanks
Accept... continue to interview and if you get better offers, renege.
Thanks for feedback - these aren't through school.
I booked the interview before accepting the other offer...
Interviewing after accepting a BB offer (Originally Posted: 08/27/2009)
How would you recommend going about interviewing with other groups after accepting an offer at a different BB group? Only reason I ask is because the exploding date is before full time recruiting even starts for most BB and boutiques
Recommend lying and saying the offer is still outstanding, or tell them you have accepted an offer and are willing to reneg. What is the downside of telling a group you already have accepted an offer?
How does the reneg conversation go with the group that you are interviewing with (they ask you would you reneg immediately if you are given an offer)?
buddy its not that hard to call the firms the day before or hours before saying you took an offer and wanted to notify them so to not take up any more of their time and give other candidates a fair chance. classess act my friend, classess....if you made a commitment take it, only thing thats really HARD to change about you as a package (Ex- resume, grades, work experience) is really your REPUTATION. dont be the douchebag that does this even if you 'really really really really have interest in the other SA position'.
but anyways, congrats on getting a SA position this early in a tough market
Can't say I'd recommend this. Further, I would go as far as to say that unless you absolutely hated your group, why bother with FT recruiting? FT this year is going to be so very tight. At least at my school, none of the other banks I would have even considered working at have posted FT listings yet, assuming they will.
Full disclosure: I've accepted an offer from my summer.
I would recommend against lieing. If you get away with it, fine, if you don't, you have seriously messed up your reputation and will probably have offers revoked, if made. Full disclosure is fine - some banks will probably pass on you, depending on where you've accepted the offer, but others will not and will view your receiving an offer as a testament to your ability. For those who choose to pass on your because you've told them that you've received an offer, they would probably be among the banks who give a call to check your story with your previous employers and will then find out that you've received an offer anyway - so if you lied, you're now in some trouble.
If asked by the interviewing firm why you've accepted the offer, just be honest - you wanted to look into other interesting opportunities, but you were forced to make a decision ahead of FT recruiting. Since you liked the firm you interned with you decided to accept it - if another opportunity comes along that you feel would provide a better fit, you will immediately call your SA firm and let them know - afterall, you're not out to dupe anyone - just want to make the right decision. Regarding immediately pulling out of the SA FT commitment, I would offer to contact them immediately upon making the decision to pursue an opportunity - don't wait for them to suggest a time for you to do it - let them know you've thought about the scenario and are serious about the decision - you're not playing games.
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This is a REALLY dangerous game to play, and has a very high probability of blowing up in your face. If you were engaged to be married, how would you feel if your fiance was out dating to see if she could drum up a better partner? Here are some specific things to think about
If you've accepted a FT offer, most firms would not want to interview you and will be pissed if they've given you an interview slot instead of some other very qualified candidate who hasn't accepted an offer. I think there's an decent chance that someone would view this as a bad reflection on your character and drop a call into the recruiting folks or their friends at the firm you're committed too. That could lead to burned bridges or a withdrawal of the offer. Neither of which you want.
Your school could also have a policy against this with repercussions. Employers get very mad at schools when students do this, and schools get bad reputations among employers when students do this.
I'd advise against it, but here are some perspectives on what to do if you interview and get an offer and need to renege: Career Dilemma: To Renege, or Not To Renege on a Job Offer - http://www.gottamentor.com/ViewGeneralAdvice.aspx?g=74
Gotta Mentor www.GottaMentor.com Connect to the Advice & People You Need to Achieve Your Career Goals
I understand it may look bad if you accept an offer an then go out and look for interviews, but would your position change with the following situation:
My school does not protect offers very well and as a result has been strong-armed into accepting an offer timeline that seems ridiculous compared to the mean.
I get my offer at the end of the internship. I immediately talk to contacts and line up interviews BEFORE my expiration date. The groups I interview with cannot finish their accelerated process before my expiration date, and so I accept my offer and continue recruiting with those groups with them fully aware of my offer status.
I understand it may look bad if you accept an offer an then go out and look for interviews, but would your position change with the following situation:
My school does not protect offers very well and as a result has been strong-armed into accepting an offer timeline that seems ridiculous compared to the mean.
I get my offer at the end of the internship. I immediately talk to contacts and line up interviews BEFORE my expiration date. The groups I interview with cannot finish their accelerated process before my expiration date, and so I accept my offer and continue recruiting with those groups with them fully aware of my offer status.
Meh, I accepted an offer and reneged upon getting a better offer at a better shop and didn't feel bad about it. When the company was acquired for pennies on the dollar at the end of last year it reinforced that I made the right decision (even though the possibility of the firm blowing up wasn't exactly part of my decision making process).
At the time I was worried about being blacklisted at the company, but you have to look out for number one and companies that do their recruiting early with the intent of locking up good candidates before they can interview with other companies have this thing coming to a certain degree on occasion.
That being said, I wouldn't directly lie about your situation, but it's not a bad thing if the interviewers know that you've been given an offer; it makes them know you're a strong candidate.
What is your opinion about continuing to interview at boutiques after already accepting an offer at another boutique?
What is your opinion about continuing to interview at boutiques after already accepting an offer at another boutique?
Your career comes first. Remember that.
Why would you want to recruit at other banks when you already have an offer that you accepted?
This isn't for a FT position, as i understand it based on above. Another bank is going to be the same sh*t just a different toilet.
Why would you want to recruit at other banks when you already have an offer that you accepted?
This isn't for a FT position, as i understand it based on above. Another bank is going to be the same sh*t just a different toilet.
Then cancel the interview- say that you have accepted another offer. Easy as that.
Interviewing on campus after accepting offer (Originally Posted: 09/15/2015)
So, I recently finished my internship at a big 4 firm and they gave me an offer in valuation, which I'm very happy about. The people are great. But it's not my dream. In fact, my dream, since day one, is to land an IB job with a bank that I have an on campus interview with. Unfortunately, the on campus interview is the same time and career center as my currently accepted firms interviews. So I would be running into my HR director and possible colleagues if I went to the interview. I desperately want this interview. Should I contact the HR person and say any time besides that day works or what?
Have you accepted the offer already? I assume you haven't, since the school probably wouldn't allow you to do OCR if you had already accepted an offer If not, there's nothing wrong with interviewing.
To avoid running into anyone, certainly reach out about rescheduling the interview. If that doesn't work, talk to someone you know and trust in the career center. There may be a way to shuffle things around to minimize the chances of an uncomfortable situation. Maybe there's an entrance that's typically employees only?
Thank you for the response! I will try to reschedule and then go through the career center.
It's tomorrow though, is it too late? didnt want to cancel a booking - shows lack of commitment, i thought
Interviewing after accepting (Originally Posted: 12/04/2010)
What is the most appropriate way of going about an interview after already having an offer signed. I have an offer signed at a MM from this summer, but someone from a firm I reached out to me a while ago just spoke to my on the phone last week and now I have a first round with this new firm. I know this is unethical but in weighing the offer the first is a firm with good deal flow, but all co-managed public offerings which I fell like I would not learn as much as I possibly could from and the second firm is very very strong deal flow in mostly sellside M&A. My contact is an analyst whose been there 6 months. Should I hope the issue doesn't come up or email the analyst who helped me out and fully disclose my situation. He emailed me today letting me know someone would reach out for a phone interview next week.
I'm really torn between this whole reneging thing, but being upfront with the new firm about it. I made a post last night about a similar situation that happened yesterday. What is the most professional way to do this or is this completely frowned upon? If it matters, the firm I summered at only gave me about a week to make my decision and let me know last minute about the expiration date.
Why do you care if they think you are committed? You aren't going to work there, and you accepted another offer. I would say unless you genuinely want to interview there send them an email, apologize for the late notice, and tell them you accepted an offer at another firm. They likely won't be mad, and I'm sure other people have done the same.
IF YOU WOULD PREFER NOT TO RENEG, YOU CAN RAZOR LEAF THEIR OFFICE AND I'LL TACKLE THE INTERVIEWER. YOU CAN TRY TO RUN!
I don't mind reneging. I am just asking what the most appropriate way for me to deal with the firm's I am interviewing with and whether or not I should disclose that I have a signed offer.
TELL THEM YOU HAVE A GREEN QUADRIPED BACKING YOU
venusaur prepare your self.
VENUSUAR USED RAZOR LEAF!
RETARDED BLASTIOSE FAINTED!
...easy peasy like lemon squeezy
Come on guys, I have searched the forums, but I would like some more input. I would really appreciate some help from people that have been in my shoes or are already in the industry.
wait until you get an offer from the new firm.
do NOT ever tell your old employer any of this of course
Yea, I would never tell my employer. I shouldn't mention this to the new firms I am interviewing with? On my resume it says I have a return offer from the summer.
bump??
How about you accepted an offer from, say RBS/BMO, and then you got GS superday?
Interview after verbally accepting an offer (Originally Posted: 09/21/2010)
I got a returning offer from the BB I interned at, and when my MD asked I said I am extremely interested in going back. I think he's now thinking that Im going back for sure, but I am still doing on campus recruiting with other companies. Now I am worried that when I interview, i might run into his contacts at other banks. Am I burning bridges if he finds out that I'm still interviewing and might not go back?
This is a different situation. OP is suggesting he has no interest in the position but is merely going to be polite- which it isn't.
If you have an offer from RBS accepted and get a GS super day (which doesn't exist since the 1st rounds are combined with super day but nonetheless) then you would have to consider reneging on an offer- pretty frowned upon and could potentially get you in trouble, but you gotta do what you gotta do.
No, you have it all wrong. I have lots of interest in this position, its just that Ive accepted another. Still interested in working in that position in the future, perhaps FT (the offer ive accpted is for SA). thats why i still wanted to go
For the record, this is not accurate. Source: OCR process and friends at semi-target who had separate 1st rounds and superday. Superdays definitely exist at GS.
I've had a first round and superday with them, and they were separate. Maybe they combine them in some cases, but it's certainly not true that GS "never does 1st rounds."
If you got the offer from a BB what's the point of interviewing? I think it's stupid when people go back on someone like CS so they can go to GS.....
The BB's in HK and I'm considering staying in NY. A lot of the people I worked with in the summer started out in NY so it's actually quite easy for my interviewers to reach out to them if they really want to...
I agree with bulge. You're taking the risk of really pissing some people off....and for what? All the BB HR people on Wall Street probably know each other and talk. Not to mention all of the other people you know at these banks. The finance community is smaller than you think.
Thank the banks you are interviewing with for the invite and take the HK offer. Sit back, relax and enjoy your senior year. College women will be slipping around in puddles of their own wetness when you tell them you're going to HK.
Besides, you'll have better exit opps with the international experience...
No one is going to remember you in 9 months. Honestly, your MD has probably already forgotten your name. You haven't even signed a contract; stop worrying.
you didn't explicitly tell your md you're accepting... also, don't you think he'd jump ship if a better oppty presented itself? gotta do what's best for you here. you should interview if you think there might be a better option out there. if one doesn't come up, accept with the bb you interned with.
Why did you accept the offer if you had other potential interviews?
Is it fine to interview around AFTER signing offer? (Originally Posted: 09/21/2008)
This specifically applies to people who already signed offer with banks that are going through rough times (MS, GS) or integration of some sort (BoA, ML, etc). Even though some of us already signed the offer, we know that anything could happen to their offers (getting rescinded) in an instant these days. So is it OK to still interview around and seek other companies' offers? It;s not for reneging purposes. Just in case our signed offers get rescinded, we'll have somewhere to go. but if nothing happens to our signed offers, we'll just not take the new offers. Is it unethical? illegal? breach of contract?
Your offer letter is NOT a contract. It is just essentially a letter of intent to hire you. Regardless, go ahead and interview around. Noone will ever recommend reneging as good business practice, but it is fine to interview around just in case the bank rescinds your offer.
just dont get caught, you'll be fine
Has anyone heard of any offers being rescinded since the end of the summer?
of course do what you want. its financial companies not dictatorship governments. most people wouldn't want to interview again as few find it to be enjoyable, but go ahead if you want to. (Realize though that you're going to have to accept or decline sometime and getting more offers doesnt decrease the probability that the one you accept will go down after youve accepted it and declined others)
wouldn't risk it in these times
That said, as long as you proceed with caution, chances are you will not get caught. So bottom-line: be careful if you decide to do it.
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Is anyone doing this? I received an offer from GS/MS, but submitted my resume out of fear last week...should I sign up for the interviews?
how do you know that the firm you sign on w/ isnt going under though.
Honestly if GS or MS go the way of BSC...we're going to have bigger problems to worry about then where to interview
If you've already signed an offer I think it's pretty bad form to still interview at other places.
A couple of years ago, there was a guy from my school that got caught interviewing after he signed an offer. His interviewers at the two different firms happened to be good friends and somehow realized what he was doing. His offer was rescinded, and they told all of their colleagues at other firms not to hire him because he lacked integrity. It wasn't pretty.
Of course, as long as they don't find out you'll probably be okay...but be careful. It's a very small world.
do HR from diff banks talk to each other?
Dont do it. Its just an SA stint. Keep your clean-slate reputation for when need to do FT recruiting. Chances are after you do your SA, you will have a better understanding of what groups you want/dont want to be in.
It sounds like you already have a decent offer in hand. Unless its the almighty GS TMT (or whatever people are crazy about nowadays), I would just walk away.
Keep interviewing when already accepted offer? (Originally Posted: 02/14/2014)
Hey all
Are there any reasons to keep interviewing after already accepting an offer? I got a great part-time/student job at a consulting firm - no way they'll let me off during the summer and wont quit. However i also got invited for SA interviews with other larger consulting firms and F100 companies.
So will these interviews allow me to position myself for SA/graduate programs later or provide any other advantages?
Best regards
/S
if you wont get let off and you wont quit, i can't see how going to interviews will help you that much
Let the other bank know that you got an offer and accepted it. Don't interview because the HR might find out and you'd be in trouble.
Compliance Interview after accepting offer? (Originally Posted: 11/20/2012)
I received a FT IBD offer from a middle-market firm and I am having a compliance interview in a couple weeks. I don't think this is a cause for concern but would love to hear if anyone has had this/ what it is like.
Thanks!
Someone else posted on this forum before about their experience with a compliance interview, did you already do a search for relevant threads? Not sure where that particular one is but if I find it I'll link it here.
In any case, it should just be a formality, wouldn't stress about it.
Strange that it would be an interview... Usually it is a simple video that they show you. In far fetched situations that will show dramatizations to illustrate where you have to make an ethical choice. If you're in IBD, these are situations that will never occur.
Interviewing after you've accepted an offer? (Originally Posted: 12/23/2009)
What are the risks that come with interviewing after you have already accepted a BB IB offer? I am curious to explore some other opportunities that have recently contacted me even though I accepted my BB offer weeks ago. Is there any way that this can bite me in the ass? If so, is it just not worth it?
Search previous posts on reneging, It's been debated heavily in the past. Is this a FT or SA offer?
You will be surprised about the amount of talking that goes on between the banks.
There is good chance that this can come back to bite you.
Even if you succeed at getting an offer -- accepting another offer would mean reneging on the one you already accepted -- that gets you black balled.
Just call it a day and cancel the other ones.
It is a FT offer, not SA. Also, the opportunity is not between banks. The offer I have accepted is BB IB and the new opportunities are consulting...does that change anything?
Honestly. Don't do it. It's a dick move to your fellow classmates who are busting their asses trying to get a job. I don't see the point of interviewing for a consulting job if you've already accepted an IBD job.
Why would you want to do consulting after accepting BB IB??
Completely different ball game.
Go back to makin' 60k a year?
In terms of what happens, if you accept something else, they'll probably tell your career services. That said, if you didn't do an SA at this bank, then it won't show up on your resume, so no one would contact them in terms of limiting you for B-school/exit opps outside of banking. That doesn't mean that this won't come back to bite you, but if you don't see yourself in banking ever, then it might not be as big of an issue.
PM me...I read some of your other posts, and I can relate.
Going to an interview with a signed contract (Originally Posted: 12/01/2010)
Guys,
What is your opinion on the situation:
A friend has signed a contract (London IBD full-time) with a European bulge bracket bank CS/UBS/DB, but recently got a call from Morgan Stanley regarding 1st round interview. What would you do:
1) tell MS right away that you have signed a contract and that you want to come to the interview, but just wanted to let them know
OR
2) just go to the interview without telling them about the signed contract?
Last time I checked it never hurt to have additional options. He's under NO obligation to tell MS if he's under contract or not especially if they're simply interviewing him. It's not like they've extended him an offer he's just going to kick the tires, roll the dice and see what happens.
Push comes to shove if he does advance to later rounds and likes what MS is offering he can raise the issue at that point if he feels compelled to do so. Why rock the boat?
I was in a similar situation...
I would be very honest about the situation... after you've signed, respect business ethics and give the people who haven't gotten chances to excel in their lives to shine. I would tell your friend to not be a douchebag and reject first round so MS can call some other guy for a chance at the big time.
I called off 4 superdays after i got the job I wanted. I suggest your friend does the same.
+1
Similiar position and I did the same thing
i had the same situation.. and this would hold water if the offer was with a top 3 (GS/MS/JPM) vs interviews at top 10s (DB/CS/UBS/BARX)
but situation here is the other way around.. if his/her "friend" has an opportunity to trade up its fair game.. altho i think my ranking given above is very suspect in europe..
Probably should note all these banks talk to each other and if one finds out you're sleeping with the other behind its back...well you can probably forget about a career with either of the banks.
what if banks are in different regions?
if one has an offer from BB in madrid but this person wants to start out in nyc and goes through an interview process, do you think BB in nyc will question this person's integrity and talk to the BB in madrid?
Interesting, I'm sure all these bulge banks are extremely honest and ethical when it comes to picking their analysts. Have you ever gotten a call from MS saying "Hey Darren, sorry we reaaaaaaaaaallly like Cheryl but we're just not sure right now?" They are obviously going to take the best analysts they have, and while they have the power to delay an offer (which is their way of playing the field), you do not. So F them, find the best bank for you and take that one.
This is pretty serious. I go to a heavily recruited target school and our career services advises to NEVER do something like this. If the first bank finds out, they will rescind your offer. And either way, it's bad for your rep and it will follow you throughout your career.
I got a phone interview request from a top 3 (GS, MS, JPM) after signing an offer from another one of the top 3. I had the benefit of asking a friend who was a senior MD at a top 3 what he would do and he suggested the following:
Do be gracious about getting to opportunity to interview. Let them know that you have an offer that you've already signed. Let them know you'd be happy to talk to them about future opps.
In my case, the firm went ahead and scheduled the interview. Your friend should not renege though, but shouldn't close the door to anything down the road.
Recent Lateral Moves Question (Originally Posted: 07/03/2015)
Hello all,
If you signed the offer to join NewCo A but got an interview request from NewCo B and you like NewCo B more than NewCo A because of the role is just better suited for you, how to best proceed in going through the process with NewCo B without making you look bad. Assume they are not competing firms and need to start at NewCo A a couple of weeks.
Say yes to the opportunity first, figure all else later.
Accepted 2015 SA offer - should I still apply to other banks? (Originally Posted: 09/02/2014)
Hi all
I've accepted a capital markets (separate to IBD) SA role with a BB. On reflection, however, I would much rather be in an industry group within IBD and unfortunately the BB won't budge.
Am I okay to apply to other BBs for an IBD role and, if fortunate enough to receive an offer, renege on the offer I have already accepted? Or should I do my SA stint and then apply to other BBs for an IBD role?
I'm worried that by doing my SA stint in capital markets I won't acquire the necessary skills to make me an attractive candidate.
Thanks in advance
Congrats on the early offer! You must be talking about GCM at 1585. You are thinking in the right direction; that's all I would say.
Careful with reneging if you think you may want to use OCR the following year - the bank may contact your school and you may be banned from using OCR. If that won't be a concern for you then go ahead and renege if you want to. However, keep in mind that if you do well during your internship you will be able to get interviews elsewhere
There's also a lot of internal mobility possible for top performers.
Thanks both. Think I'm going to stick with what I've got.
def apply for other positions
you can always decline who knows u might land something top
if nothing good practice, very valuable
who the hell sends out 2015 SA offers now? Isn't this way too early? Or are we talking US here?
I'm preparing my motivation letters for 2015 SA in London and now I'm worried I'm already late!
Offer is for summer 2015 in London (received from a spring week)
Good luck
double post
I see, damn. Congrats mate!
Hate to be a bum but do you know when I should start applying then? Is mid-September ok?
Going on interviews after you've accepted an internship (Originally Posted: 03/30/2015)
Monkeys,
What's the protocol when it comes to going on interviews after you've accepted an internship or a job. If I have no plans on reneging should I still go on with any scheduled interviews?
I'm just wondering if I should follow through with the informational interviews, interviews, and calls that I had scheduled for this week or let them all know via email that I have already decided on an internship. I really want to avoid burning any bridges (or future bridges).
Thanks
I found myself in the same situation this year. I ended up interviewing for a firm I really wanted to work for, made it to the final round, didn't get it, and then after I'd accepted a job elsewhere was offered an interview in another division. I would have had to renege on the offer I accepted if I got the other job, and I couldn't really think of any way of doing that that wouldn't ruin a lot of relationships I'd built up. I ended up politely declining the interview.
I really think it depends on the situation though.
GS Interview but contract signed? (Originally Posted: 12/21/2012)
Basically signed a contract for SA position in London at an elite boutique (think Rothschild/Lazard) already but just received an interview invite from GS for IBD SA. Brand name-wise no doubt GS would trump and I am not sure whether I will be in finance even for full time plus have longer term B-School aspirations.
Ethically seems wrong even going for the interview, much less contemplating reneging etc. Just wanted to gauge what people out here in WSO would do given the dilemma and what would be an advised course of action.
Hey!
Guru, I was in the same situation 2 weeks ago. Gave verbal agreement to another BB, and was invited to final rounds by Goldman next day. Went with non GS, cos I really liked their culture and the team.
Moreover, Rothschild/Lazard are soooo strong in London, and I don't think it would make a difference for B-School applications.
Anyway, congrats with your offer.
If you signed a contract at a bad bank, it might be worth risking. But Lazard/Rothschild/Evercore/etc are great. Take the offer, forget about GS, and kick ass as a SA at the other firm! Besides, you can still interview in the FT cycle!
Wow, you've received an offer before OCR even finished accepting resumes? Now I feel like crap..
you cannot beat goldman.
Don't be an idiot and stay at your current firm or you risk losing both. Besides the elite boutiques are absolutely crushing it in London.
it's against their policy to interview someone with a signed offer.
Should I interview with MBB after signing contract with new small consulting firm? (Originally Posted: 03/22/2015)
Hi all
I am just about to finish my Master's and have signed a contract with a newly started consulting firm (who gave me quite a short time to make my decision). After I signed, I received a call from one of the Big Three consulting firms, asking me to come in and interview with them.
I initially said yes, and the interview is about one month from now.
However, I am thinking about cancelling the interview and telling them that I have signed with someone else. Of course I would mention how graful I am for the possibility to interview with them and that I hope it won't burn any bridges, in case I would be interested in working with them at a later stage in my life.
I have a very hard time making up my mind about whether I should cancel and go with the job I already have secured, or whether I should take the interview. Here are some of the aspects of the decision:
If I get offered the job at the big company, I would have to call the other place and tell them that I have to cancel the contract. Since I have already signed it, I would be going back on my word. I am not very comfortable with this, and I also feel that I would have wasted the firm's time and resources. Furthermore I would probably burn some bridges, even though I would apologize and politely explain them my situation.
It is my first "real" job after university: I guess that the first job matters a lot, and I should try getting the job which will boost my CV the most.
The newly started consulting firm only works with firms in the country I live in, and I have strongly considered working abroad in the future. Another point for doing the interview. Further, the newly started firm only works with a limited amount of industries.
The newly started consulting firm pays a very good salary, which is definitely competitive to the big firm. So this is not really a factor I consider (though it may rise more quickly at the big firm - I don't know)
The newly started consulting firm is still small and I won't be employee #100.000 - this is quite appealing to me, and I might be able to gain more influence.
The newly started consulting firm is founded by former partners from MBB. So I will definitely work with very skilled and intelligent people. Furthermore I have met them several times, and I believe that I would really enjoy working with them.
The hours would be longer at the big company.
These are thus the factors I have primarly considered, but I still cannot make up my mind. I wondered whether any of you had been in a similar sitiuation and could offer me some insights which would help me make up my mind?
Thanks a lot!
I would try my luck and interview with MBB, it is a very thorough process. Get the MBB offer first and then take some time to decide by comparing advantages/disadvantages, take into account your interest and where you wanna be in 5-10 years down the road.
Bottom line, get the MBB offer first because it's not easy to do you are still at the first round.
Too much thinking. Go interview. Come back when you have the offer.
Accept PE interviews to network, if already signed in IB? (Originally Posted: 04/11/2011)
I accepted a MM IB offer very early in fall recruiting and since have gotten unsolicited requests to interview with various MM PE and VC shops (funds everywhere from 500M to ~5B). This is ultimately where I want to go after my analyst stint.
I will not consider reneging my IB offer before I start (don't want to burn bridges), but would like to get to know these firms better.
Would it be considered rude to contact HR back asking for a informational interview or to accept the interview so I can learn more about the firm?
I am sure you are busy, thanks so much for reading!
Just out of curiosity - how are these headhunters getting your contact info?
Did you update your LinkedIn or something?
Its not headhunters... there are a few mid-sized firms that recruit at my school... and one from taking/doing well on the bloomberg BAT...
It has not been a ton, so far 4 firms.
Haha, I would love to be in your position - trying to move into PE from where I am, and it's tough because I'm from a less-traditional background (though still occasionally get interviews). If you don't take those interviews, maybe you can tell me which firms via PM. : D
Anyway... tough call, being frank with the HR is the 'right' thing to do - but there's a good chance that if you tell them you already accepted an offer and you don't plan on reneging, they'll just say 'thanks, moving on'
If you happen to take the interviews and rock them and get the offer(s), but don't take it - you would have to come up with a good reason for why you went through their time and yours not to take the offer. I would imagine the question 'do you have other offers and have you taken it' may come up during the process. Depending on how well you manage this, you could risk burning bridges here too.
If mid mkt. PE is where you want to be and you get the offer, I don't think reneging on your MM IB is a big deal. If and only if the school has very close ties with both firms, and they take reneging seriously (re: doing it would result in loss of both offers)
I feel like if you go to the interview with them thinking its a formal interview for a job, you have a good chance of pissing a lot of people off - everyone from the people who took the time out of their days to potentially having your current IB finding out about the interview (which would not go over well, I am sure).
I would forget the interviews or ask for an informative interview with someone in the firm; making sure they know you have an offer and are just looking to network / learn more.
Thanks a ton for everyone's help. My school would make me lose both offers so reneging is not an option. I will ask for an informational interview with someone from the firm from now on and hope for the best.
Thanks a ton for everyone's help. My school would make me lose both offers so reneging is not an option. I will ask for an informational interview with someone from the firm from now on and hope for the best.
Accepted lateral offer, but getting interviews for bigger BBs after: what's the best approach? (Originally Posted: 11/18/2017)
Hi all,
I worked at a small boutique as an analyst for a year: if i were to accept a lateral offer at a bigger regional bank but then receice interviews for tier 1 BB banks... what's the best approach here? Any tips would be appreciated. The interviews would be for my dream banks but I also don't want to end up with noting in the end.
.
Do Investment Banks care if you're interviewing but you've already accepted another job? (Originally Posted: 09/13/2016)
I accepted a B4 accounting summer return offer in audit a few weeks back, but just got invited to an interview with a BB IBD group. Since IBD is my dream, I know I'll hate myself for the rest of my life if I turn it down. Can anyone tell me about the reference check process of IBs for incoming analysts? I really want to interview for the IB job, but I'm scared that it'll be a no sum game if the IB calls my internship company (they know it because I listed it on the resume I applied with) and finds out that I interviewed AFTER accepting another offer, which may lead to both opportunities being retracted and a ban from OCR..
Thanks for any insights.
Ha first mistake was listing it on your resume... just had to brag huh?
Bump
First round interview? Probs not gonna get it anyway ...
How to Recruit after accepting offer (Originally Posted: 12/23/2017)
Should you disclose that you have already accepting an offer if you continue interviewing after accepting? I have read multiple threads with conflicting advice.
Homie what??? When you accept an offer, you stop recruiting. Period. It's already bad enough when people rescind within a week or so after accepting and offer bc last minute someone extended one when they weren't expecting it... if you straight up continue to recruit after accepting an offer people are going to find out and think you're a total asswhipe... wtf are you doing?
Maybe just do it to practice interviews for the future, but finance is a small world so if your current employer knows you're doing that you're probs gonna have bad consequences
Once you accept an offer your time should be filled with (1) studying for the new position and (2) getting squared away with the new company (i.e. onboarding documents, drug testing, fingerprints, etc, etc).
Besides, it's really bad etiquette to do this. As Don Draper would say, "you have to dance with the one that brung ya . . . " Once you accept an offer, you stop looking.
Do recruiters and IB groups expect you to renege or still interview after you have signed? (Originally Posted: 10/08/2010)
I recently accepted a investment banking offer and turned down my summer non-IB offer (at BB). My boss seemed surprised that I was not continuing with recruiting, despite signing a contract.
Also, I have recently gotten two calls from HRs about first rounds and both seemed surprised and confused when I said I already had an offer and would not coninue with recruiting.
Is it expected that I should still be interviewing and eventually renege if I find something I like better?
My school has the policy that if I renege, they will tell whoever I accepted the new offer from and try to get me to lose both.
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