Would you tell an MD you got other offers?

lifeboat's picture
Rank: Orangutan | 348

Hello fellow monkeys,

I'll put you in perspective then I'll seek your knowledge. I networked my way to an MD of BB and had the opportunity to get a coffee with him. Two weeks later I received a call from the bank telling me that they wanted to have an interview with me. I went to the interview and everything went great, I meet the team and I meet this MD again. He told me the position was not yet open, and that there would probably be a second round with other prospective candidates but that there were some members of the team on a trip and that I would have to come back to meet them. I have not heard from him in two weeks.

Point is, imagine if I were to have a full-time offer to do financial consulting and an internship offer to do institutional coverage, would you send him an email saying you got these two offers to see if he moves with regards to this internship?

I am eager to believe they are having a high workload due to the deals they are working on.

Comments (10)

Apr 25, 2018

Hey lifeboat, I'm here to break the silence...any of these links help you?:

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  • I-Banking Brainteasers Qs Source 2. Three envelopes are presented in front of you by an interviewer. One contains a job offer, the ... brainteasers /three-envelopes-are-presented-in-front-of-you-by-an-interviewer-one-contains-a-job-offer-the ... other two contain rejection letters. You pick one of the envelopes. The interviewer then shows you the ...
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  • More suggestions...

Or maybe the following WSO members have something to say: @jalexandermarley @jvoorhees @omalleypf

Hope that helps.

Apr 29, 2018

Do you have the FT offer 100% confirmed? If so, yes. But it depends on which you really prefer. If you're split 10:90 between the FT and internship but are tempted to take the FT just because it's FT then no - taking a job you wouldn't like isn't great. If you're 50:50 then email him and see if he can meet in person. 1. It's better to tell him face-to-face 2. If you word it well, it won't come off as 'I have another offer so hurry or I'm gone' but make it come off as 'You've been in this position, the offer is a burning one (even if it isn't) and whilst I like your firm, I also have to think about my future'.

He could: 1. hurry his ass up or explain why there has been a delay or 2. make it seem like you're pressuring him and tell you to piss off.

Whether you take the risk or not depends on which firm you prefer.

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Apr 29, 2018

Thanks for the input. I had to accept the offer (or reject it) for coverage before Monday Morning and so I have accepted it. Usually, interns are not able to stay in the bank after the internship and so they are quite permissible if you get other offers. Do you think following up with the MD saying I already got this offer would be fair enough?

I think I will reject Financial Consulting should I get the offer as I prefer to do banking.

Apr 29, 2018

I think so

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Apr 29, 2018

Once you really have an offer, of course follow up. For one, offers are usually time sensitive, so you would not want to be left hanging with nothing if something doesn't work elsewhere you're looking. And for another, if you're more serious about this role at the B.B., you would want to know your status before making any final decisions.

If you haven't heard from the bank in a little while, this could be normal. Larger organizations usually have a process to put potential candidates through before any decisions are made. Once you have serious updates on your side, you will normally get in touch with other firms to let them know.

In this case, you might say that you have an offer but you're still very interested in the MD's firm. You'd like to know your status or timeline. They can expedite the process if they're serious about you, so definitely let them know of competing offers if they're your first choice.

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Apr 29, 2018

Thanks for the input. I ended up accepting the coverage position. I will email this MD tomorrow to see what is the status of the position. Do you think this is all right?

Best!

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Apr 29, 2018
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