Let My Offer Expire?
I received an offer awhile back after working in a boutique M&A bank with the offer's deadline expiring mid-November. Because I didn't enjoy the environment as much as I thought I would, I decided to go through fall recruiting for full-time. I've had two superdays and unfortunately, both firms have told me that they were very interested in me as a candidate, but they still have to wait to hear from their summer offers as well as those who received offers on the superdays I attended. I realize that many on this board will advise me to just take the boutique offer I had in the summer given the job market, but I really don't think I can put myself through another two years at this place.
Should I wait it out and let my offer expire in the hopes that I'll get an offer from the other two banks? These other two banks (one BB, the other MM) are banks that I can really see myself working for and actually be happy pulling 90-100+ hour weeks. Has anyone else gone through a similar situation or have had friends who've been able to pull this off?
Thanks.
If you're not going to take an offer, it is more professional to let the firm know....not just let it expire without getting in contact.
Why not just accept the offer and then renege afterwards??
p.s. good luck being "happy" working 90-100 hours a week...are you SURE you've done IB before!!??
in these troubled times, you're betting a sure offer on two uncertain points: (i) you'll get an offer from either of the firms that have expressed interest, and (ii) you'll like the environment at either of those firms better.
The former point is contingent upon their summer hires going elsewhere - bear in mind that those former-interns are also job hunting in this atmosphere.
if you haven't heard back from the 2 banks by the time your offer is set to expire, I'd accept it. That will have given those 2 banks at least ~3 weeks to get it together. I wouldn't expect much from them thereafter, if it's true they really want you.
Your situation based on your internship may not seem ideal, but who knows, things might be different when you start working there full time. In addition you always have the option of reneging if you get an offer from another firm -- it's not an action that I would necessarily encourage, but at this point, it's the Wild Wild West out there and you have to look out for yourself. If I were you, I'd continue to interview around but if push came to shove, I would not give up the opportunity to be employed. Nothing is a sure bet these days so you if you have a sure offer already, you best be taking it.
Unless this boutique has a very strong history with your school or you have a very good contact who got you the job in the first, and you would be therefore burning a very serious bridge by reneging, I would recommend accepting the offer and then reneging if something else came through. As yesman said, chances are that after three more weeks, anything that will have happened may have happened already. Accept at that point and then consider reneging if the situation presents itself.
However, more importantly, if you don't like the place you are working you are going to want to kill yourself over two years. If you KNOW you aren't going to enjoy it, and KNOW you don't like the people there. Don't go there.
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Taking the risk of letting it expire is not worth it, especially not in this environment.
Accept, and see what happens.
There would be risks involved.
Unethical Way - You could take your offer and use it as a back up. If you do get an offer from the two BB's you interviewed, then you can back out of the offer from Botique. However, the consequence is you would be blacklisted and your school might be ousted by this botique too.
Ethical Way - Since you really didn't like it there. Just wait for the two banks. If you don't get either, life would probably suck and you would stress out.. blah blah..
I am not a perfect person, so I might go with option 1 but talk to career office ppl and see what they think
or if it is possible, ask for an extension
Ling~
Update: I've decided to accept the offer, but am willing to accept the risks involved with reneging if I have to.
good idea
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