I acceped two offers (GS vs Centerview), which now to take?

Prospect in IB-M&A

Hey guys,
I accepted two offers for the summer at GS and Centerview in NYC. I haven't had the guts to decide yet what bank fits me better. I originally wanted to decide this by February 2020 but due to the Corona outbreak I wanted to make sure first which bank is the more safebet with regards to FT offers. Could you please give me the pros and cons of both firms in NYC?

Thank you very much!

Region: 
United States - Northeast

Comments (74)

Funniest
  • Intern in IB - Ind
Apr 5, 2020

you are fucking idiotic

    • 119
  • CEO in Other
Apr 5, 2020

bruh

    • 3
Most Helpful
  • Prospect in IB - Ind
Apr 5, 2020

Renege on both

    • 74
  • Analyst 1 in Other
Apr 5, 2020

Hope this is a joke or you used the word "accepted" wrongly.

    • 1
  • Analyst 1 in CorpStrat
Apr 5, 2020

Leverage both to DB

    • 54
  • Prospect in IB - Gen
Apr 5, 2020

vased

  • Analyst 1 in IB-M&A
Apr 5, 2020

In this climate there is no such thing as a safe bet. Covid situation aside, I think you know the answer to this question

  • Prospect in IB-M&A
Apr 5, 2020

I actually don't. Could you tell me what bank you would choose based on what argumentation?

    • 1
Apr 5, 2020

...

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    • 11
  • Intern in IB - Ind
Apr 5, 2020

Probably doesn't matter because once you renege on one, the other bank will probably pull their offer when they find out what a moron you are.

    • 11
Apr 5, 2020

I'm from a completely different geography and I would like to know how will the other bank find out if the op declines one offer? just curious to know

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    • 1
  • Analyst 1 in IB-M&A
Apr 6, 2020

Holy shit for your sake I hope you're not the OP becasuse your username isn't exactly discrete

    • 5
Apr 6, 2020

Change your name and profile picture, you can get good quality information without disclosing who you are.

  • VP in IB - Ind
Apr 5, 2020

Might well ride it out. At this point likely scenarios
- Remote work. Not enough to do. You can intern at both places
- Internship gets delayed / canceled or they give you an option to not to do it for whatever reason and you take that
- Everything is back to normal in 2 months cause Jared Kushner found cure for Malaria - in which case you are fucked

    • 16
Apr 5, 2020

lol since it's remote/online, maybe you can attend two of them at the same time... see how that turns out

but I do hope for your future career sake you have a good reason to tell the hr recruiters why you are reneging on accepted offers

    • 6
  • Analyst 1 in IB-M&A
Apr 5, 2020

First, that was really stupid. Second, Centerview doesn't even give exploding offer deadlines, you literally had zero reason to accept the offer until you were 100% certain - so again, dumb move.

The good news is that it's a small enough class that as soon as you renege this late in the game, it would be easy to find this thread and know who you are and why you reneged. So good job on that one.

    • 6
  • Intern in IB - Gen
Apr 5, 2020

That's assuming he's reneging on Centerview. He may be reneging on GS for Centerview.

  • Analyst 1 in IB-M&A
Apr 5, 2020

Hope for Centerview's sake he goes to GS haha

    • 2
Apr 20, 2020

"Second, Centerview doesn't even give exploding offer deadlines, you literally had zero reason to accept the offer until you were 100% certain - so again, dumb move."

Yeah, this is either a joke or the banks have been changed for the post.

  • Intern in IB-M&A
Apr 5, 2020

haha you are so fucked

    • 5
  • Intern in 
Apr 5, 2020

You won't be working at either once you break the news lmao

    • 8
  • Intern in IB-M&A
Apr 5, 2020

hahaha lmfaooooo

  • Intern in IB - Ind
Apr 5, 2020

wanna sauce me the one you didnt take

Also if this is true, WTF

  • Analyst 2 in RE - Comm
Apr 5, 2020

Yo I don't even work in IB and I'll tell ya that was a dumb move to accept both offers man. Best of luck but don't be surprised if you get neither

  • Intern in _none
Apr 5, 2020

Why do people fall for this obvious bait?

    • 4
  • Analyst 3+ in PE - Other
Apr 5, 2020

Subtle troll is not so subtle

Try harder next time, my friend

  • Prospect in _none
Apr 5, 2020

<

p>Wow that is a tough situation. GS will probably lead to better long term career prospects. I can't remember who it was, but I saw someone comment on WSO: "Goldman Sachs gives credibility. When you walk into a room and people know you were a VP at Goldman, they tend to trust and listen more." Centerview is not a well known place. chances are you won't even have this problem given corona doesn't look like it's going anywhere anytime soon. I hope ur joking lol

    • 2
    • 8
Apr 5, 2020

I don't see what the issue is. Pick one and tell the other you no longer can take the offer but don't tell them where you are going. They're all considering axing full times anyway (you know it's at least a card on the table...) so fuck them, seriously. What goes around comes around.

    • 3
  • Director in Other
Apr 6, 2020

I respectfully disagree with the attitude of f*** the firms when it comes to accepting two job offers at the same time. It is not right. Ethics is a slippery slope. How could it be ok for one gal accepting marriage proposal from two guys at the same time, @Pussy Galore?!

    • 1
Apr 6, 2020

These firms are only looking out for themselves. They don't give a shit about new hires right now. Neither should any of these guys on the other end of the table.

GS hired college kids for their SLC IBD program and canceled it before they even started. I used to work at GS and Citadel so I know the culture well. It's nothing personal, this kid is just looking out for himself just as these firms are doing the same.

    • 7
  • Intern in IB - Ind
Apr 5, 2020

simple bro just jump on a call with hr from both firms and let them decide

    • 9
Apr 5, 2020

haha I'd love to hear whatever MD that went to bat for you says when he hears how you renege'd. solid job champ.

    • 2
  • Analyst 1 in IB-M&A
Apr 6, 2020

Pray they're online.

    • 1
Apr 6, 2020

This panic might serve to help you because HR and others are most likely scrambling to get things in order to future on-boarding / hiring. If this was me, I would be honest and tell both banks of what I did and hope for the best. Tell them you made a mistake and you wanted to be honest. Honesty goes a long way with people.

    • 1
    • 4
Apr 6, 2020

Mazel tov.
Look, personality fit is a big factor, but hard to know, based on your interviews or what anyone here says, what your group will be like and if you'll be happy. There are no crystal balls.
GS is definitely the security play. Once a GS SA, I'm sure many doors will open.
That said, if you like the riskier play, or simply like Centerview's MO better and have specific goals within the firm, you are young enough and early enough in your career to take the risk. It's still well enough known name.
I know that you know, in your heart, where you really think you want to go. What's your dream? Name aside, did Centerview really strike you as the place you felt more excited about? I think that's likely what's going on here - you have a slight preference for Centerview, but are scared to not take the gold ring of GS.
If you take GS, you can probably get to Centerview or the equivalent long run, but if you take Centerview, GS is probably not going to welcome you back. May be your one shot at GS.
But if GS is simply not in your gut (you're accepting more out of guilt), go with your gut!
Keep us posted.

    • 3
  • Prospect in HF - Macro
Apr 6, 2020

Probably comes down to group. Are you in a TMT/FIG type of group at GS?

  • Incoming Analyst in Consulting
Apr 6, 2020

While it's idiotic to have accepted both offers at first, maybe you can wait for one to move to a shorter/virtual and cite that as an excuse to renege on the offer.

HR might find it surprising but hopefully wouldn't delve into it.

Apr 6, 2020

surprised people are bashing this. i reckon because you probably fucked over some kid at gs / center who would have gotten the offer otherwise. but at the end of the day you should only look after yourself, especially in these trying times.

if its remote, id try to work at both places at the same time. thats a good story.

What concert costs 45 cents? 50 Cent feat. Nickelback.

    • 3
    • 2
Apr 6, 2020

Why? It's silly to accept two offers in the first place, nevertheless to sit on it (when this situation probably arose in August/September) until April.

Also, someone at GS/Centerview has probably seen this thread. Once someone at the bank puts two and two together on why an intern reneged in April(!), it might not end well for OP. This thread should be deleted

Accepting two offers works until it doesn't. But would make a hilarious story

    • 1
Apr 6, 2020

makes sense, hopefully OP was smart enough not to put the actual names of the banks

What concert costs 45 cents? 50 Cent feat. Nickelback.

  • Analyst 1 in IB-M&A
Apr 6, 2020

Can't believe people are telling you to work at two competitors simultaneously. In theory, yes, this would be awesome as you can pocket two paychecks, but this will come out and when it does, you have just inserted yourself into a HUGE conflict of interest that has the potential to black ball you. Don't do it

    • 1
  • Analyst 2 in 
Apr 6, 2020

I've managed to work at both Moelis and Lazard for the past two years. PM me for advice

    • 17
Apr 7, 2020

HAHHAHAHAHAHHAA how?

Apr 9, 2020
Gun rights activist
Apr 7, 2020

beyond electric

Apr 6, 2020

I saw this question and thought....equities in Dallas

    • 2
Apr 6, 2020

Take the GS offer
Lateral to Tobin & Co.
Get steam rolled by the process of natural selection before your 30's

    • 2
  • Analyst 1 in IB - Gen
Apr 6, 2020

What a dirtbag

Apr 6, 2020

Work at both banks virtually and make sure you get staffed on both sides of the same deal. You'd be like the Mrs. Doubtfire of finance

    • 4
Apr 6, 2020

That's easy just ask each firms HR, I'm sure they'll be able to help you out.

    • 3
Apr 7, 2020

There is only one honorable way out of this. Sepuku.
Or rather, see if you can do both, in which case you're not reneging. Some people have been able to do 7.5 week internships in a summer. But that's a very rare situation, and requires a long summer from your school and the banks to be understanding. It's difficult to swing this really. Good luck.

    • 1
Apr 7, 2020

Don't know how to react, you might get into trouble. I think you should make a decision ASAP and decline one offer - remember to sound humble and polite and give valid reasons; such as family incident/sickness etc. and secretly take the other offer (but remain as low profile as possible, avoid writing it on linkedin until you get converted to a full-time analyst. in that way, the HR that got declined would be unlikely to find out.

Apr 7, 2020

Perhaps you can ask to defer one internship for a year, claiming covid-related issues? Then you can get 2 internships done. Or pickup a winter break internship. I'm trying to help you take this negative and turn it into a positive. Fortunately for you, the world is in chaos right now, so the usual way of doing this is tossed out the window..

  • Prospect in IB-M&A
Apr 7, 2020

Have you ever considered just not saying anything and never showing up to Centerview? I hear that it's pretty common for people to go into witness protection, so maybe they'll think you did that. Claim that the government gave you a job at GS, and change your name on your LinkedIn so it all adds up. 60% of the time, it works every time

    • 2
  • Prospect in IB - Gen
Apr 22, 2020

O.o

Apr 7, 2020

just wait and see how the interships are handled. if they are both remote and shortened to 5-6 weeks....you might actually be able to do both at the same time.

    • 2
Apr 10, 2020

Savage as fuck

    • 1
Apr 7, 2020

just wait for the incoming GS/Centerview Summer Analyst 2020 flex on linkedin

    • 1
Apr 9, 2020

"Incoming Investment Banking Summer Analyst at Goldman Centerview Sachs"

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    • 4
Apr 9, 2020

Given M&A activity has all but come to a halt with the current market environment, I'd suggest reaching out to your favorite MD at each bank to invite them to a pitch for your offer selection process. Have the teams at each bank toss together some slides (they must have the capacity these days), including peer bank comps spreading historical return offer rates, average analyst bonuses, hours per week, vacation day utilization rates, meal stipend dollar amounts, and live deals closed per analyst. It would be helpful to also request some precedent buyside placement details, making sure to include frequency of megafund PE exits by firm so you can get a good sense of where to start networking over the course of your internship (never know when on-cycle will kick off these days!). Only then will you have enough info to truly make an informed decision here.

    • 16
  • Prospect in Other
Apr 9, 2020

Easy...Goldman

    • 1
  • Analyst 1 in CorpFin
Apr 10, 2020

On the off chance that this isn't a troll, here's some insight the college kids on here don't have. 1. No MD at a decent bank has time to track down where some kid who reneged ended up and try to talk to someone over there. Also, from the MDs I've worked with I know their response to this situation would be something around "Good, I didn't even really want that kid." 2. Given the current climate, most banks won't be too upset about having one less analyst then they planned on.

Apr 10, 2020
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Apr 11, 2020
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