Reneging on Bay street as an intern
Hi everyone. I recently received an offer from a lower tier Big 5 (cibc/scotia/bmo) but I highly prefer working at another big 5 firm. I was wondering if reneging at an intern level is looked down upon in Bay street (Toronto) and whether or not that should be something I have to be worried about?
Thanks
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Yes to both
Depends what you want honestly. If you know you can get a position at the other 2 then maybe it’s worth it. I can’t speak on your ability to get a position at one of the other two. I can say your rep won’t be ruined, whatever bank you got the offer at will just move on to the next best candidate and forget about you. Getting an SA position at the bank you actually want to work at is really important for networking, return offer purposes etc.
Big 5 to Big 5 is way too closely related to each other so wouldn't recommend reneging. If you have 2 offers you accept 1 and decline the other so that's a different story but wouldn't recommend accepting lower big 5 and continuing to recruit. If it's not related as closely (ie Big 4 vs Big 5) it's doable but not really when it's that close.
Just so you know, BMO has been top of the league tables the last 3 years. Historically, it’s always been RBC or CIBC, with TD / BMO interchangeable in each position. I agree Scotia is in a lower tiered bucket but your post makes you sound like an uninformed student who gets all their information from this forum.
Take one of the offers and prove that you can do the job.
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