Contracts, Signing and a Question of Ethics
Hi everyone.
I've got a slight issue here. 3 weeks ago I signed with one of the Canadian big banks for an IBD job in Toronto.
I had had several final rounds but this was the ONLY one to make an offer. I was given 5 working days to sign, obviously I did.
Now that I'm signed...a Bulge Bracket firm has expressed interest in me for a posting in Asia Pacific. The pay is obviously better (Canadian pay vs Bulge Bracket) and this opportunity came along through networking. The Bulge Bracket firm is well aware I've been signed but they are still heavily interested.
Work permits are not an issue here, I have legal right to work in Canada or the Asian country.
The Asian country is no slouch either. The options ATM are HK/Tokyo.
Any ideas?
And if you want to flame...do go ahead. I've gotten mixed reviews from professors, friends and career advisors at our Career Centre.
First, I don't think it's an ethics question. Banks better deal candidates all the time...
Second, if you are inclined to take the BB in Asia Pacific. Go for it!
The Canadian bank will get over it. It's relatively easy for them to replace a candidate. However, it's harder for candidates to one up an offer. If you can and its the better all around offer anyway, don't fret over it.
thats a doozy
You always hear stories of someone switching offers, and then getting both retracted.
And everyone always tells you, be ethical, you signed the contract. But its not like that canadian bank wouldnt screw you over and retract the offer if their situation changed.
Its risky, but I think it'll be worth it to switch to the BB. Give the Canadian bank an excuse that you've decided to move to China or something along those lines.
But chances are you are pretty much closing the door to that bank for life.Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...
I think you should go with your gut and join the bank where you will enjoy working more. I realize that by backing off with the Canadian bank, you would potentially burn some bridges but try to salvage the relationship the best you can. Give them a genuine reason, that you are very interested in working in Asia Pac and hopefully you can work with them later. I know it will be a difficult sell but all you can do is try. In the end, if you are good at your job and you have the right experience, it should work out fine in couple of years.
Wait...
So tell me exactly why you're hesitating? Asia-Pac hasn't even started interviewing yet...if this is a chance to get into the interview process early, its a GOOD step.
Second, my experience working at a multinational in Asia has made me realise I'm not so sure I enjoy their attitudes all the time. Be sure to gauge yourself against the general beliefs of the other department members.
I've already signed too. But the prospect of one of my Asian apps following up and offering me a chance to return to HK where I can be with my parents (and be around to keep an eye on my dad's mediocre health) is definitely a plus. I wouldn't quite know what I'd do either given the fact I really ike the Canadian bank i've signed for. THe HK bank would have to blow me away in terms of their group chemistry.
i think it's too early to think about this; i'd focus on the interviews until you get an offer. and if you get one and sign, i don't really see any consequence. don't ask your career service for advice, they're generally useless on things like this. i can elaborate similar experience that my friends had once you get an offer.
different people will give you different answers. no clear cut answer.
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