Verbal Offer?
So - after (no joke) 7 rounds of interviews I was verbally offered a 1st year associate S&T position at a MM iBank (by the MD of the group). I guess the guy that needed to sign off on the offer was in Asia for the week though, and the MD that gave me the offer informed me it might take a few days to actually see a formal, paper offer. It's been one + week now and I've spoken to the MD a few times, but he's just been giving me the run around (it's hard to get the senior guys to focus on this right now, we just did layoffs etc) but keeps telling me not to worry. HR at the bank also reached out to me to get my historical comp etc so it sounds like they are working on the offer... but I'm starting to freak out about the delay.
Wtf gives? I had an offer from M/B/B that I turned down after talking to the MD at the MM he assured me that his offer was "good" and I trusted him (clearly a BAD idea, though I honestly had no real interest in consulting). Did I just get fucked? Can't believe I was this stupid.
Did a search and saw a few threads on this, but wanted to see if there was any other insight to be found on the forums.
Never take a verbal/handshake offer at face value. You should have deferred on making a decision until you had the offer letter in front of you. Nothing to do now but wait and see.
what are you stupid?
you turned down a firm offer with MBB for a verbal with an MM IB?
why wouldn't you wait for the letter offer from the IB before turning down the MBB?
how on earth are you getting offers from IBs and MBBs if you lack total common sense?
re - alternatives & affirmative action - sorry to clarify, my offer from M/B/B/ was going to expire - due to the fact that the MM took 7 rounds of interviews to get to an offer i had to make a decision.
as far as my decision making calculus goes - won't expect everyone to understand it, but i've spent two years at a top BB doing banking and have been trying to move to S&T (sales) ever since then. consulting mainly held appeal in that it would have been a means to an end (bschool) whereas sales was actually my dream job/much better suited for my personality. maybe not the decision that everyone would have made though, which i understand.
I was in a similiar situation (Offers I had were expiring, while waiting on a final company to hear back.) I heard back from the final company with an offer, but by then I had already accepted with another company. I learned a lesson from that. On reflection I should've called the final company to explain the situation (tell them to hurry up) and ask the firms I already had an offer with to extend the deadline.
I had a similiar situation as well. Was told the offer was good, even CC'd the emails to HR to get the ball rolling. After a week, CC'd again as a follow up to get the ball rolling. After a week, CC'd again, this time with some urgency, and had my offer within a couple days. It may not be the same in your case, but in mine HR was just very slow. They asked about my comp, had me send another resume, etc., and yea, it still took some time. If the MD said the guy that needs to sign off on it is in Malysia for a week, I would give it at least a week (?) without freaking out. I would say you have the deal--MDs are usually not just extending offers and waiting on dotting i's and crossing t's for fun. People are busy, it sounds to me like ur in. Congrats.
Also, if they gave you 7 rounds, you are also clearly in. Really give the guy who just got back from Asia at least another week--if not two.
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