Looks like I am about to have my IBD offer rescinded...

yes. i would try to speak to the people you met at the company during the recruiting process to see if they can pull for you.

Thanks for your reply man, much appreciate it. The thing is I don't want to sound arrogant because everyone at the team is feeling the pressure. Should I send 'proof' of my offer from th other company? Would you advise I do this by email or phone call?

Man I feel like an idiot. I told my parents, friends, etc. that I will be starting and now I just feel so choked. I have even cried because I feel so down specially when my parents told me to accept the other offer from another company which was felt much secure.

Sorry to hear that - hopefully they end up taking you after all. If you don't mind, could you elaborate as to what kind of bank (size, location) this is?

Bulge Bracket, Top 3 investment bank, New York.

Best of luck man, hope you get to stay where you are!

thnx, Will keep updated what happens. Already started looking at fall back options, AGAIN.

This is exactly why people should have no compunction about reneging.

Sorry to hear that man.

Yea, I had mine rescinded as well, after telling EVERYONE what I would be doing and who I would be working for... feels f-ing terrible, I know. Good luck to you.

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Thnx dude. Sorry to hear about your situation. Did they give you severance pay and alternative job offerings? Was this a FT position or a SA? Hope you are able to secure a job in this climate. Gd luk.

Sorry to hear this:

"Should I let the firm know I rejected another bank already in favour for them?" As to this, dont think it'll matter much/dont think they will care. But if you want to, go ahead.

This, once again, is why I believe freely in reneging.

This just happened to me but with 4 weeks before starting.

I don't really feel there is anything you can do before they make their decision to revoke or not. I won't get too into my situation, but if this firm does revoke the offer and they have a regional office that you might be interested in, then ask about or propose moving to a regional office that has higher works levels/better staffing needs. That's about the only play you have with this firm if they do revoke.

I'm a supporter of reneging. Just to cover myself, I've been applying to random job openings over the past couple of months. It hasn't helped me yet, but I was just waiting for this to happen.

It's tough being a laborer in a capitalist's world. Oh well.

This has gotta be JPM. Been hearing alot about them hiring too many and they have two training cycles. Aparently they created crazy rules during first cycle of training trying to get rid of people.

jws43yale,

Yeah I suspect it is JPM.

What type of crazy rules have you heard that the firm instituted?

Banks really do not give a shit about anyone, and I keep trying to tell my starry-eyed SA friends that.

I thought that was Citi where if you fail one of the tests you're out.

this is entirely inaccurate. No one has been cut. The only rules I'm aware of are the standard rules any bank would have (i.e. if you fail out of training you can get fired). There are indeed two training cycles, with the first group training first and then joining their groups, and the second group working first and training after the first cycle.

I have heard from people at Citi that they are getting rid of anyone who fails an exam though.

I also heard they shortened training at Citi to 5 weeks, making each training day unbearably long.

MDR, I'm sure you're aware of incoming JPM analysts being shifted to the commercial bank for a year or being told that their start date has been "delayed" one year.

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http://ibankinglife.blogspot.com

What about S&T and ER , is there any rigorous training like in IBD?

Yes ibankinglife I am very aware of that...but no one's offer was rescinded and the point about the crazy rules during training was completely inaccurate.

Well I spoken to the person responsible for me and they said they are fighting for me and I am number one on the list. I expresssed my interest in any other positions in other offices in case my position gets revoked. They said they will get back to me so its just a waiting game for now.

I am quite doubtful and I feel I am left in the dark and they have already made up my mind about me long time ago. I just feel so choked after rejecting an another offer which I was close to taking up.

I feel like I am just a condom. Been used and now they throwing me away in the last minute.

My advice to those who have offers. Keep still applying and always hedge your options in this kind of market.

I'm sure all the other recruits are "#1 on the list" too. Don't worry, it's just so they can make lots of "headroom" for you to advance when you come in. They want to run "lean" to give the top candidates plenty of "running room".

no models and bottles for you

That's horrible. So what are you going to do now?

Thanks, that makes me feel so much better.

Thanks, that makes me feel so much better.

i know exactly how it feels. there's really not much you can say. worst case scenario, the people who told you about "number 1 on the list" know you won't be there but just making up stuff and the hr's are just delaying the process of letting you know. if you don't mind, i'd like to know which BB it is too. did you intern there last summer? it doesn't sound like you did and the interns usually get a little ahead of you at this stage. i would try to tell the more senior people that you turned down the other offer for them, but avoid telling the hr because it definitely won't help. keep us updated.

is this for a FO position

Hi there. Yes, I did 2 internships with this firm in two different offices supporting the same team.

Yes, M&A.

first just wanted to say thats a terrible situation and sorry to hear. in this market a lot of things are just out of your control. just to clarify though, was your offer for full-time summer 2008 summer, and you just got it rescinded basically a few days before you were to start while still in training? if so, that's a real gut punch, terrible

So what ended up happening?

Hey guys. Well I talked to the VP and they told me to be optimistic. One of the MDs in the team is sorting it out and they told me just to wait. What do you guys think of this?

It's unfortunate they are putting you through this hassle... sounds like a waiting game from here on out...Goodluck man.

I am going to training for the corporate finance analyst programme. My position is still not yet confirmed though and they said that they will let me know in 1 month (when I will be training).

What do you guys make of this?

Thnx

...no way to tell, but it's definitely promising tha thtey're sending you to training. be optimistic though (what do you have to gain by acting otherwise)--if there are concrete steps that you can take to help line something else up, start taking them. but most probably there aren't, so really, don't worry about it.