Verbal to written offer for FT
Hi all. Got a verbal offer yesterday and was told to keep an eye out for a written offer in my e-mail to sign. Didn't get anything today and found out a couple of interns signed off their return offers albeit in a different divsion. Is there a good chance that my offer gets pulled? Buggin' pretty hard, the due date on all written offers is 1.5 weeks from now and WorkDay still says "interviewing." I got my preferred location and division so part of me feels like it may be too good to be true.
I’ve gotten a verbal offer pulled for a $600K/yr position. I should have pushed earlier to get it in writing.
I also thought it was too good to be true. Dream job, position, and hours. Apparently the job was promised to an internal hire and someone above the MD I interviewed with made an executive decision.
Good luck.
What did that feel like?
It was pretty harsh actually. Mainly because of the final in person conversation I had with the MD. He talked about the numbers and my start date and basically talked and acted like I was not only part of the team now, but part of the family. I left his office that day feeling fulfilled. He and his associate also told me that face time wasn’t a thing and when the work is done, everyone goes home, but typically they said hours would be 9 - 5 no weekends. Only on live deals would we be required to come into the office which was rare.
He was a big shot at ML previously and knew everyone in the game and told me he was going to teach me ‘everything’. When talking to him in his office on that final interview, I felt like I gained a friend and a mentor. I felt like he was family as he said I was now family. $400K of the salary was in bonus money through profit sharing for deals, and he said all the deals for the upcoming year were already set in stone, so I’d get $200K base and $400K bonus. He said the following year it could be more depending on how many deals that they closed. I talked to the associate about this bonus pay and he said it was legit and the firm was a great place to be. It was a small M&A group in a big asset management company.
I didn’t hear from him for a week and emailed him to ask for the written offer. He said everything was in place and they were working on sending it to me. Then 2 days later I got a phone call from him and he told me that ‘something had happened’. He was really embarrassed about the situation and began apologizing almost immediately on the phone. I was worried immediately and felt my stomach turn. He said “we had to pull your verbal offer.” I immediately said ‘why???’ and he described this situation where an internal hire in asset management would be promised a position in M&A if a position opened, which was promised by a director higher than him at the company. He told me that he would prefer me to get the position, but his hands were tied and he was extremely sorry. I was pretty jaded.
After that, I packed up my shit and moved to Canada for a year to be a part of a Catholic community and roamed the forests of Canada working as a maple sap collector and lumberjack. Completely different than M&A in NYC - lol. But, it was all a life experience. I should have been more hasty to get the offer in writing or even prompted him to crank out an informal written offer on the spot. But, he said ‘you’re family now’ and I trusted him. The thing is, he meant it 100% at the time, but factors outside his control led to the demise of me getting a written offer. You live, you learn.
Cheers 🍻
Jeez man, thanks for providing perspective. Any advice on getting over that?
Newton’s third law states that “for everyone action, there is an equal and opposite reaction.”
I did a complete pivot at that point and gained a lot of humility during this period.
Also, during this time my mom began the initial stages of her cognitive decline due to dementia and my dad needed help with the situation and taking care of her. If I took this opportunity, I still may have been locked into NYC and my family lives in the south.
I took up a large role helping my family in the past few years and it has been the best years of my life. Getting a good job is all fine and well, but at the end of the day and on your death bed, you’ll think about the moments you’d shared with others and not any job. But, it took me years to get to this place and I was initially bitter about the whole situation. I was much more of a condescending asshole then (if that’s possible) and a large dose of humility was exactly what I needed.
JFC man that is fucking rough.
Hey mate, not saying Isaiah's story is bullshit or anything by any means, but that's veryyy rare. Especially if you are an incoming undergraduate senior. I did FT recruiting and it took like 5 days between the call and the written offer to come in my inbox. I would say that if it has been a week since the call, follow up but otherwise try to not stress (I know it's hard)
Yeah I’m probably just overthinking it. I think next week I’ll definitely hear something.
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