Coverage IBD offer from GS/MS Hong Kong. Have first rounds at 5 elite NY boutiques and 4-5 BBs, all in NY. Offer from second tier BB from last summer (RBC/BNPP/Wells/Deutsche) is safety.
Goal is Mega-PE or B-school. How much worse is working in HK compared to working in NY given my goal? Discount the superiority of NY by the risk of not getting an offer at all and returning to the second tier BB...what should I do?
Thanks a bunch.
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Take the offer.
just got superday invite at one of the top boutiques if that changes anything...
what's the risk adjusted return for undertaking the recruiting process in NY....
what do you want, how badly do you want it, and how confident are you in yourself? no one can answer these questions but you.
Assuming standard bell curve distributions and non-negative correlations I'd say your risk adjusted return is roughly 63.7%. Seriously, what kind of question is that. This is all it comes down to:
1) You have an offer from 1 of the top 3 banks in the world at 1 of the top 3 locations in the world 2) You have no offer from a non-top tier bank at 1 of the top 3 locations in the world
I can see literally no scenario where it would be more advantageous to choose 2) over 1). The future of PE is in the far East anyway.
Good perspective. Just dont think HK would bode well for US PE opportunities at all. I'm unfamiliar with where ppl in HK exit to? anyone?
I think you really need to look at this from the perspective of whether you want to develop your career in China, or in the US?
First off, you only need to make one thread.
Second, I think this will come down to which region you really want to be in long-term. I'm assuming that you're currently based in the States for school? One thing people (in both threads) seem to have neglected is that your social life will take a huge hit if you go abroad but most of your friends are in the States. Given the commitment that IBD requires, I'd carefully consider where you're more likely to have an emotionally supportive network of friends and family. Doing investment banking in a city where I knew nobody was fucking miserable.
Third, I get all of the comments pointing to China's growth rate, but let's face the facts- with this many offers and interviews, you're either smart or pedigreed enough to find employment regardless of how bad the economy is doing. So to a certain degree you're "recession-agnostic" and shouldn't have to worry about not finding employment in the United States if you're landing bulge bracket offers and interviews left and right.
The only objective reason to going to HK would be the tax rate, but I'm not sure if I would trade that for being around friends and family when shit hits the fan.
My thoughts: It is probably too late for this, but in your position I would have let all of your other BBs and boutiques know about the exploding offer. In most cases, competitors would love to steal potential interns from the top tier guys (GS/MS) and would very likely have accelerated you in the interview process to avoid the dilemma.
What I would do now: accept your GS/MS offer for HK and go drink.
Devil-ish response but gives you the best of both worlds: take the offer, renege if you get one of the elite boutiques. Do not feel bad about this - if GS/MS does OCR at your school then that won't be affected by one person reneging, and if they don't do OCR it doesnt matter anyway. NY is where you want to be as the PE recruiting process is very structured and institutionalized in the US.
Glad I wasn't stupid enough to take the bait
.
Nvm you posted this in the PE forums so I saw your response, anyways glad you didn't take the bait either after seeing the recent headlines about Asia IBD, etc.
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