It can't hurt to do the second interview - at worst it will give you some additional interview experience which may serve you later in your career.

The first firm would expect that you are interviewing with others (that is a normal part of the process) so that should not be an issue.

If you mention you have an offer from a competitor it may mean they offer you some very small increase in pay, but frankly there is way more upside in just joining, doing well and getting large pay jumps as you go up the ranks vs. negotiating hard for an extra K or two as a graduate.
 

You wont have much leverage at the undergrad level.

If you think the other firm is a better FIT both ways, then by all means go ahead and interview. Otherwise, best accept the current offer and enjoy yourself.

And none of this will be looked a negatively. You can delay the signing the contract until after you have given the interview with the second firm.

Congrats and all the best!

Hey - 

Congrats on the offer. Directly answering your questions first. 

1. Short answer no. Most people interview at all of the firms. Cross offers are common. 
2. There is not much negotiation leverage to be honest. But on some perks, relocations, sign on bonuses, I have heard of people managing to do a tiny bit (not meaningful at all) of negotiation in offices like Mexico, Madrid, Milan, etc. 

Just my two cents here. Only go for the interview if you have any intentions to take the second MBB offer. If not, I would withdraw for a couple of reasons. Firstly, its a waste of your and their time. Secondly, you might be taking a spot from someone else who needs a job in a tricky market. That said, you there is even a 20% chance you will take that offer up, then definitely go for it. 

Hi there,

Congratulations on the offer, well done!

Personally, I would finish the final round. You never know (especially in the current market environment).

Worst case is you end up really liking the other firm (or even negotiate).

Ask them to accelerate the interview just so you can get the results sooner!

Honestly, if you are happy with the offer and you like the firm you got the offer from it's really not worth it. 

Even if you get the second offer, what will happen is you will start comparing the two and find faults in your current firm or think about asking for more money etc. Mentally this sets you up in a not so happy position when you start. There is very little to gain from another offer unless you are genuinely more interested in them vs your current firm

Hello!

Congrats, that is great!

I think it would be a HUGE mistake not to interview. Having chances in life, and building connections, is the best you can do. Without doubts. Not only for now, but also for the future. 

imagine that you start with MBB 1, and then you have a bad experience and want to leave. If you had previously an offer from MBB 2, it would save you, since it would be much easier to reach out and get a job there. And this only one example…

Hope it helps!

Cheers, 

Clara

1) No, it's fair game to take your recruiting processes to the end. Most people do it. (would be different to apply after you have the offer, of course).

2) For MBB you have no leverage in negotiation from having another offer, as the offer is standard (only thing you can negotiate are things like relocation, sometimes sign up bonus). But to be honest, I don't think having an offer makes a difference regarding that negotiation (or that there is much value in that kind of negotiation, anyway).

If you like your current offer more, take it. If you would rather join the other firm, then interview there and use this as a backup.