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Internship Offer

Someone asked on Sep 07, 2018 - 4 answers

Hello Preplounge Community,

I got an internship offer for my gap year but I am waiting for the answer (and 1 or 2 more rounds) for one other company, and I have telephone interviews from two other companies scheduled next week. For how long do you think can I wait until I have to answer the first company where I got an offer already?

Thank you in Advance.

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Vlad replied on Sep 08, 2018
McKinsey / Accenture / Got all BIG3 offers / More than 300 real MBB cases / Harvard Business School

Hi,

Several recommendations:

  1. Ask the company how much time you have to consider the offer. Note that It's important to demonstrate the commitment.
  2. Ask the other companies to expedite the process
  3. Try to postpone the offer from the first firm if you feel that you are out of time.

Here are some strategies on how to get more time with the offer:

  • Be transparent - you want to finish the process with all companies (And it's not about the particular company. For example, Bain was giving me an Intern Role while McKinsey gave me a Senior Analyst)
  • Ask for the time without explanation and if there is an urgency ask back why is the urgency
  • Time to learn more from employees: Given with what I've seen so far I am happy to sign the offer but I might need some more time to talk to people, visit the office and learn more about the company
  • Contract - Need time to check the contract details (it's not just about salary but also you can't have equity ownership as a consultant and you need to sell your businesses)
  • Refer to feelings - you can say that you don't feel comfortable making a fast decision and need some time to reflect
  • Family reasons - Need time to discuss with the partner

Best!

Christina
Expert
replied on Sep 07, 2018
Strategy & Operations Consultant @Deloitte, Analytics Lead @ unicorn start-up, University of Cambridge graduate

First of all - congrats on the offer!

Most companies will pressurise you to provide a response asap, but you have the upper hand in this negotiation. They have chosen you, and now it is your turn to choose them. Although the stanstard for providing a response in the industry is 1-2 weeks, from my experience, it is doable to extend this by 1-1.5 weeks.

Having said that, you should be tactical about how you handle this:

1) Tell the other firms that you are interviewing with that you have an offer from a competing firm, in order to bring forwards your interviews and provide a response on existing rounds asap

2) Find out the deadline for providing a response to the firm that has given you an offer already

3) Ask them to extend the deadline, in order to think through the offer / finalise the interviewing process with the other firms... Although you can be honest, try to keep them warm. You can also delay providing a response, by setting up a meeting with HR/ a team member to go through any questions that you may have on the offer

Good luck!

Elias
Expert
updated his answer on Sep 07, 2018
Experienced strategy consultant, now running own consulting business

Just tell them openly that you're in another recruiting process, which will probably take X weeks and you like to see what comes out of that. Maybe sweeten the cherry by saying your leaning towards their offer.

That's totally legitimate (nobody believes that they are the only company you applied to...) and they will probably be ok with it. After all, it's "just" an internship, you're not their CEO candidate. If they have a problem with it, they will tell you...

(edited)

Anonymous B replied on Sep 07, 2018

Usually contracts specify when you have to make the decision. Didn't your contract have the date?