Summer Internship selection Dilemma
What would you do in my situation?
I accepted a generalist SA offer with a BB in their IBD. Although the offer is a generalist one, the chances of me being placed in industry group A is near 100% since I have great industry experience and had tons of people from that group batting for me. I'm fairly happy with this offer since I feel comfortable being in the "same" industry but also because they consistently place ~#1 or #2 in their industry in terms of number/value of deals per year. Not to mention they do all their modeling work internally.
On the other hand, I just received a few interview invites at "better" banks (think GS, MS, BX). I understand that the brand appeals at these banks are much better than the one I accepted the SA offer from. Not to mention that the experience at these banks are generally good regardless of what group you're placed in. However, I would not know what group I'd be placed in (assuming I got the offer).
In this case, would you consider doing the interview at the "better" banks with plans to reneg at a later date if an offer is given? Does working at these "better" banks really trump working at a killer industry group at another BB that doesn't have the best brand appeal? How would this affect PE recruiting?
Much thanks
I don't think it's worth burning bridges at your current firm. Sure, GS/MS/BX might have the name and you could have a huge leg up for PE recruiting if you're at one of these firms, but it sounds like your industry group is solid enough to get you some looks when the time comes. Plus, this is an SA offer, you can go back to these "top" firms that are reaching out to you now for FT recruiting next fall. I'd say you reach out to them and say you've already accepted another offer, but are still very much interested in their firm. They'll keep you in the system and hopefully reach back out to you during the end of your summer.
If you're really concerned, talk to people at your current firm and see where past analysts have gone. But be careful, you don't want to talk about leaving before actually getting there.
Yeah I wouldn't want to burn bridges especially with all the people at Bank A (VPs and associates) who have helped me land the offer.
But considering PE-recruiting I can trying to weight the pros/cons of working at Bank A vs. at a "better" bank. I know that these "better" banks are solid regardless of group, but is the experience one gets at when working at such banks that much better than a group that consistently ranks high in a particular industry?
For those already on the PE ship - do you really think the better brand of one bank over another helped you land interviews? Or was the amount of deal experience much more important. I would hope that the later is true.
Bump? Got One more day to decide
Honestly, I echo what @"ars23" says. If you are pretty confident in your placement in the industry group at the first bank, then it seems like a solid position. You still have a brand name of a BB and a top 1 or 2 industry group. As long as you position yourself as a reliable analyst and get good deal flow, you'll be in a good position for buyside recruiting or business school.
Another thing is that this is for SA. Put your head down, work hard and get the offer from the first bank. Stay in contact with your connections at the other bank and let them know you are still interested in FT at their bank. This will put you in a good position as you will have a full-time offer in hand and can recruit if you wish.
Thanks i think i will do that. I was under the impression that people who turn down an offer at bank X would not get a shot at FT recruiting.
Banks won't blacklist you for turning down an interview because you have already accepted an offer somewhere else. They understand how the game works and if you are a strong enough candidate, the door will stay open for FT recruiting with the right approach.
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