How to balance summer offer and full-time offer

Hi everyone,

I have fortunately received some summer/off-cycle offers and recently a full-time one in this cycle.

The issue is that I received an off-cycle (basically summer since start date is in June, ends in Sep) offer from a European BB back in November, which I signed.

However, I still continued to interview for full-time analyst positions and received an offer a few days ago for a trading position at an American BB. Naturally I prefer this offer (it is in a similar area to what I was doing before), and I assumed that I would start in Sep. However, the graduate program involves going to NYC for training in early July.

In such a stuation should I:

a) Ask for a later start date from the American BB such that I can honour 8/9 weeks of my internship contract at the European BB (I assume NYC training is more valid for contact-building with other analysts rather than technical training - since in my case I have studied Quant Finance and have European (not UK) trading licences (Eurex/Xetra/IDEM)).

b) Let the European BB know of my full-time offer and mention that despite me signing their contract, it is not worth me joining them for an internship if I am going to be moving to another firm on a permanent basis immediately after the internship completion. That way I can be in NYC for July for the training with the American BB.

I am leaning more towards option b) since I think banks would expect you pursue an internship with the intention of gaining full-time employment at that firm (rather than elsewhere). Also, requesting the American BB to wait for me (for 2 months) just so I can intern at another BB probably won't look good.

Do you agree that b) is the option to go with here (despite my signature of the intern contract back in Nov)? BTW, the offers are in different areas (FICC vs EQD) so I'm not moving to a direct rival desk.

What arre your thoughts? Thanks in advance :)

 
Best Response

Tenetur commodi iure quo pariatur. Quo ut aut tenetur asperiores aut et.

Super Nintendo, Sega Genesis - when I was dead broke man I couldn't picture this

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (145) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
CompBanker's picture
CompBanker
98.9
8
kanon's picture
kanon
98.9
9
bolo up's picture
bolo up
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”