Take an offer from a mid-tier FIG group?

Got an offer from a mid tier BB (think Baml, Barclays, Citi) FIG group. 4.0 from top target (HW) with decent experience + intense networking so definitely not where I'd thought I'd end up, but happy about the outcome.

If my end goal is MF PE do I take the offer? Or do I wait for CVP/PJT/GS...etc later recruiting banks? Also concerned because the group is FIG not MA/Sponsors..etc Then again it seems like a lot of MFs are doubling down their insurance division (ie Apollo) 

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Comments (12)

  • Intern in IB - Ind
May 30, 2021 - 2:25pm

I think I know which group since the other two don't give offers directly into FIG. If you want to do FIG then I wouldn't risk it and take the offer. You'll have great opps into MF FIG groups or you could recruit during FT to get into a better group/bank. If FIG is not where you want to be then I would consider rejecting the offer and continuing to recruit. You should be able to land a better bank/group given the H/W status and GPA. Even if you end up at a mid-tier BB again, at least you won't be pigeonholed into FIG and can explore other groups of interest.

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  • Prospect in IB-M&A
Jun 6, 2021 - 1:52am

I'm reasonably satisfied not ectastic - compared to the amount of hours I studied/where my friends/prep buddies ended up at not the best result, but not that entitled to "expect" anything 

Jun 6, 2021 - 3:33am

Right that makes sense. You put in a lot of work and did a great job, you want to get rewarded for that. I think someone wiser would probably use this as an opportunity to say that this is an early life lesson to learn to be happy with what you have, and to not get too caught up in comparing yourself to others. Also maybe there is a lesson in here about being future oriented to too extreme of a degree, thinking about the end game before even getting started, although this can be valuable in certain situations. Your career is about the long haul, maybe this will turn out to be a good move for you although it seems suboptimal now. I'm not saying to necessarily take the offer, I have no background in IB, just saw the thread and providing my thoughts. I don't like the idea of accepting and then reneging. Doesn't sit right with my conscience. In this situation I would either accept the offer if I am satisfied with it, or I would ascertain how long I have to make my decision and then attempt to accelerate the timeline with the other banks, I have no idea how these other banks operate and if that would be feasible but that's how I would approach it in general if I had an offer from a company that I liked but wasn't crazy about but was already in the process with another company. If I wasn't already in the process with another company and was just hoping that another company would enter into the mix then I think that it would be the wrong move not to take the offer that I already had. I wish there was someone wiser in this thread to help guide you through this tough decision that you are making in a spiritual shaman sense. maybe thebrofessor could chime in.

Jun 6, 2021 - 3:21am

If you want a different offer, then just keep on recruiting. I'd usually say just accept this offer and renege later, but since you go to H/W, there might be actual consequences of reneging, so maybe just don't accept. I'm assuming you got the offer through a posting on your school's career website, like Handshake? 

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