how to manage alumni/non-alumni network when i just received an offer from a top BB
so i am a junior at a semi-target with some impressive stats. i received an offer from GS IBD SA which i am going to accept. my dilemma is that i had alumni and non-alumni at ALL the BB's and many top boutiques (Evercore, Moelis, Rothschild and Greenhill) gunning for me and pushing hard at HR for interviews and stuff. for example, at one firm i had 4 top-level alums/non-alums pushing my resume to HR and they were all setting up interviews for me in early january.
but now that i hv accepted an offer from GS, how do i manage these relationships that I have built over the past year and half? I don't want them to get mad at me since they were helping me out and now I would decline those interviews - you never know when i might need their help. its so hard to tell them that "thanks, but no thanks". i might need them when FT recruiting starts and I am looking to explore other opportunities. what is the best way to approach relatively senior level people and tell them that I have accepted another offer but I still am extremely grateful for what they were/have done for me?
Thanks!
If you are comfortable, call them up and explain the situation. Explain that you have received an offer from another firm that you are going to accept. Therefore, while you are extremely grateful for everything they have done for you throughout the recruiting process, you would like to withdraw your name from consideration at their firm as to allow for another qualified candidate to fill your spot, and not waste anyone's time at the firm. Tell them that you would like to stay in contact throughout the year and summer, and get back in contact with them during full time recruiting and revisit the opportunity to possibly work there in the future.
I think that would be a respectable response and way to handle the situation...
I agree with the above poster. You need to call them up and level with them. Honestly, since it sounds like you're a strong candidate, with GS IBD under your belt you will only be stronger, and when it comes to FT recruiting, they will be ready to get you onboard again. That said, never assume your strong candidacy will offer you the privilege of being an ass - for example, by blowing everyone off who has tried to help you and support your candidacy - burning bridges is never a good idea.
Considering it is only a SA position, you shouldn't have a problem with calling them up and essentially letting them know that: 1) you are very grateful for and appreciate all of their help and insight regarding both candidacy support and advice/information, and 2) while you have decided to go with GS for the SA position, it is only a SA position - GS boasts a phenomenal reputation, as everyone knows, and going there will make you much more competitive come FT recruiting when the decision really counts. Essentially, you are still very interested in staying in touch and continuing to learn more about their firms for FT opportunities, which are much longer than the 3 or so months of a SA - at this point, it just made the most sense to go with the premier name, get that experience, and then really weigh all of the options and aspects of the different firms when it comes to the longer-term FT opportunities next year.
If you tackle this well, you shouldn't have a problem holding onto your contacts and finding yourself with strong support next year for FT efforts - if you need it, that is. Good luck and congratulations.
Not to be harsh, but I also don't think that you should expect the alums to pull strings for you in the future - unless you made a personal connection beyond discussing work.
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Man most people here would kill to be in your situation right about now. Congrats man, this really shows that it's all about how badly you want it and how hard you work to get it
thanks for all the responses. really appreciate the advice.
Well I know what it's like and you should definitely call these guys BEFORE you accept as a courtesy .... you can easily explain why you're going to do what you are but the fact is you give them a fighting chance.
Or else you just end up pissing them off and guess what - if you don't convert to FT offre at GS - you're gonna need these guys again
to add to this, which may end up being a relevant scenario in the OPs case, how do you manage your networks once you've accepted a position at XYZ bank? For example, you know people at 15 banks or whatever and you end up getting a FT offer at 1. What do you do about the contacts at the other 14? Do these people really have an interest in developing a "relationship" with a 1st year analyst? Or were they just willing to help you get a job at their firm, but have no interest in say, meeting up for coffee etc once it's clear that you will not be working for their firm
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