well since you signed the SA offer, I wouldn't renege on that commitment. I'd either do both (if possible) or just do the BB internship and work my ass off to get a FT offer after. Is it a top boutique (i.e. lazard)?
I wouldn't say top but a solid one with good prospects. The internship route although at a top bank (and declining FT) seems too risky. Even if successful, there's a good chance that offer is made for 2011 rather than 2010.
Several of my friends from my analyst class were in a similar situation. One of them had accepted a full-time offer from Microsoft before they even arrived at work. Looking back, I'm not sure I'd want to be in that kind of situation during an internship, and I would want to jump out the 20th floor window if I wound up getting an offer that I'd want to take at the end of the summer.
Does the boutique either know your situation or did you get the offer from the BB after you interviewed with the Boutique? If so, I'd go back to them, be very apologetic, and explain that you can't accept their offer at this time because it wouldn't be fair to the BB where you have the internship. Try to smile but also look like you feel bad knowing that you might be turning down a great opportunity at a boutique. They obviously like you and you need to make it clear that you like them and want to leave the door open to be reconsidered at the end of the summer. Assuming they're not the kind of firm that takes rejection personally and they have a position open or can easily create a position (and the bottom doesn't fall out of the market), there's a very good chance you'll get another offer from them if you reapply at the end of the summer.
I got the internship first but for some reason decided to try my chances somewhere else (still a student graduating this year). Its an off-cycle internship and there's a chance for 2010 or 2011 offer. I don't think the boutique would be that desperate to wait until the summer. Plus they have official start dates for the 2010 class.
Tough choice then. I figured it was a smaller shop.
If you get the offer from the BB after accepting at the Boutique, you WILL want to kill yourself because the only way to take the offer is to renege on the boutique and risk having it get back to the BB. If you don't intern there after committing, you'll burn down a pretty important bridge.
Having the confidence that comes from working in industry for three years and having saved up an emergency savings fund, I'd still turn down the boutique. Given that you got an SA offer from a BB, I think it's pretty likely that you can find a nice job somewhere else even if we have another September/October 2008, but you've got to figure out how much risk you're comfortable with.
i faced a similar situation. i suggest that you be honest. you've done nothing wrong; there's nothing that you need to hide. be straightforward with both sides. you also need to decide, if both were full time, what would your preference be? would you clearly prefer the internship firm over the boutique that offered you a full-time position?
It's in the spring so there's a possibility for 2010 if slots are available. Have a contact in the bank and will have a talk tonight over it. Think I'm getting sick thinking about all this. One thing is sure - I have to do the internship because it's already signed but accepting the FT would really leave the chance of me wanting to jump out of the window if an 2010 offer is made following the internship. Do you think it's a normal/possible thing to do an year at the boutique and then switch to the BB for 2011 ? I think if they like me, the start year will be flexible. Any thoughts on this ?
I think you hit the nail on the head there. I HIGHLY doubt that your off-cycle spring internship would lead to FT with the class of 2010, more likely it would be class of 2011. However, there is a certain unpredictability that comes along with off-cycle internships. If I were you, i would accept both, and make each aware of the situation. If at the end of the spring internship you are given an offer for 2010 I would talk to HR and ask if you could defer one year. If the offer they give you is for 2011, then you have no problems. If you aren't given an offer, again, you face no issues.
Out of curiosity is this internship with the BB an IBD analyst spot?
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Is the FT a BB?
Boutique
well since you signed the SA offer, I wouldn't renege on that commitment. I'd either do both (if possible) or just do the BB internship and work my ass off to get a FT offer after. Is it a top boutique (i.e. lazard)?
I wouldn't say top but a solid one with good prospects. The internship route although at a top bank (and declining FT) seems too risky. Even if successful, there's a good chance that offer is made for 2011 rather than 2010.
Several of my friends from my analyst class were in a similar situation. One of them had accepted a full-time offer from Microsoft before they even arrived at work. Looking back, I'm not sure I'd want to be in that kind of situation during an internship, and I would want to jump out the 20th floor window if I wound up getting an offer that I'd want to take at the end of the summer.
Does the boutique either know your situation or did you get the offer from the BB after you interviewed with the Boutique? If so, I'd go back to them, be very apologetic, and explain that you can't accept their offer at this time because it wouldn't be fair to the BB where you have the internship. Try to smile but also look like you feel bad knowing that you might be turning down a great opportunity at a boutique. They obviously like you and you need to make it clear that you like them and want to leave the door open to be reconsidered at the end of the summer. Assuming they're not the kind of firm that takes rejection personally and they have a position open or can easily create a position (and the bottom doesn't fall out of the market), there's a very good chance you'll get another offer from them if you reapply at the end of the summer.
how did you get the internship if you will have graduated at that point?
I got the internship first but for some reason decided to try my chances somewhere else (still a student graduating this year). Its an off-cycle internship and there's a chance for 2010 or 2011 offer. I don't think the boutique would be that desperate to wait until the summer. Plus they have official start dates for the 2010 class.
Tough choice then. I figured it was a smaller shop.
If you get the offer from the BB after accepting at the Boutique, you WILL want to kill yourself because the only way to take the offer is to renege on the boutique and risk having it get back to the BB. If you don't intern there after committing, you'll burn down a pretty important bridge.
Having the confidence that comes from working in industry for three years and having saved up an emergency savings fund, I'd still turn down the boutique. Given that you got an SA offer from a BB, I think it's pretty likely that you can find a nice job somewhere else even if we have another September/October 2008, but you've got to figure out how much risk you're comfortable with.
i faced a similar situation. i suggest that you be honest. you've done nothing wrong; there's nothing that you need to hide. be straightforward with both sides. you also need to decide, if both were full time, what would your preference be? would you clearly prefer the internship firm over the boutique that offered you a full-time position?
..slightly confused. don't SA 2010 get offers for FT 2011. If that's the case, then you shouldn't have any problems.
It's in the spring so there's a possibility for 2010 if slots are available. Have a contact in the bank and will have a talk tonight over it. Think I'm getting sick thinking about all this. One thing is sure - I have to do the internship because it's already signed but accepting the FT would really leave the chance of me wanting to jump out of the window if an 2010 offer is made following the internship. Do you think it's a normal/possible thing to do an year at the boutique and then switch to the BB for 2011 ? I think if they like me, the start year will be flexible. Any thoughts on this ?
I think you hit the nail on the head there. I HIGHLY doubt that your off-cycle spring internship would lead to FT with the class of 2010, more likely it would be class of 2011. However, there is a certain unpredictability that comes along with off-cycle internships. If I were you, i would accept both, and make each aware of the situation. If at the end of the spring internship you are given an offer for 2010 I would talk to HR and ask if you could defer one year. If the offer they give you is for 2011, then you have no problems. If you aren't given an offer, again, you face no issues.
Out of curiosity is this internship with the BB an IBD analyst spot?
Est ut neque est ut sit. Ut omnis exercitationem labore omnis iusto nobis delectus.
Ut assumenda doloribus dolores. Blanditiis placeat voluptatibus totam eum aut modi sed. Eius explicabo dolorem totam nihil corrupti. Quis eum eligendi et ratione corrupti qui exercitationem. Non qui voluptas esse aut cupiditate perferendis.
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