Reneging or Resigning in the middle of SA? Which one's worse?

oh and an additional question: I shouldnt worry about the US consulting firm trying to screw me over at the London BB either way given the geographical distance and the fact they they are in different industry right?

why would u even let the consulting firm know about the S&T gig. Don't. Resign.

To be honest, no one can tell you what to do except yourself.

What's your risk tolerance? Do you think you can convert this S&T offer into FT?

You know, it's quite appropriate that this is an S&T offer since it seems like a very trader-esque decision you need to make right now.

Trust me, you do NOT want to get banned from your OCR. Also, if you want to be a trader, an S&T gig is way too good to give up. This leaves you with two options:

Option ONE

Step 1. Delete this thread (can you?) and do NOT tell anyone about your London offer. This is actually going to be harder than it sounds.

Step 2. Find out how your OCR would react to you getting fired or resigning. Along as it’s not too bad, proceed with the plan - it can't possibly be worse than getting banned.

Step 3. Commence consulting internship, try to keep a very low profile. Spend as little time with people there as possible - reject any after-work drinks etc. Do not stand out in anyway. The less of you they remember, the better. Consider hiding in toilets for hours every day, taking long lunch breaks etc. Your aim is NOT to get fired, but to simply be forgotten, however no doubt there will be a real chance of you getting fired.

Step 4. The latest M&I article is very relevant. Make your resignation clean, very quick and emotionless. Personally I wouldn't tell anyone but your boss, who if you had played Step 3 right, shouldn't even really know who the fuck you are. Leave immediately after and never communicate in any way with those guys ever again.

Option TWO

Step 1. Be completely upfront with OCR about your situation, and how you really want to be a trader etc.

Step 2. Beg them to help you figure out a way to take the S&T gig.

Step 3. Hope you don't get fucked.

why don't you accept the s&t position and just fail the drug test for the consulting firm?

that sounds like the most reasonable, and fun, option

^ lol good idea

Yea that's a hilarious idea. Flawed, however, if 1) he's already been tested by the consulting firm or 2) he will proceed to fail the S&T drug test (if it exists?)

Sup giants. Didn't noe ur also a member of WSO in addition to college confidential

Yea - been a reader for a while and decided to join recently

Does anyone actually know anyone who's gotten their OCR privileges revoked from doing this?

Digging a little bit deeper into the drug test idea, maybe dig deeper into your offer letter and try to find some way to disqualify yourself from the consulting gig. Or just start and resign halfway through.

Id rather talk to OCR about your other offer... Resigning mid-way might not be a good idea, and if you are so worried about getting banned, talk to them.

Say you applied to a few places on your own but never heard anything. After interviewing for the consulting firm you received an interview from S&T... Again, didnt hear back for a while from S&T so you took the consulting offer even though S&T was #1 choice. A little later you received the S&T offer, and would like to go that route but do this as professional as possible.

^ thats just my two pennies.

i already talked to OCR. They said if an employer bitch enough, they will ban, no exceptions, which is lame because their salaries come from our tuition, so they should be working in our best interest, not companies' interest, but it is what it is.

But their reputation is greater when better companies recruit there, I would think.... It is BS, but come up with a great excuse to reneg on the offer with the consulting firm. They cant complain that much with a valid excuse.

Id take the risk if S&T is what you really want.

1. If you want to be a trader, take the S&T position. No doubt.

2. Don't fail the drug test that is a dumb (though funny) idea, BB S&T drug tests also, and who knows if that ever gets out somehow.

3. Other than that, it seems like you know the options, it depends on your risk tolerance.

4. If you end up in London, hit me up, I'll be there starting in S&T.

If you are convinced that you will be banned from OCR if you renege, then I guess it would be better to resign... at least then, perhaps you have a chance of not being banned.

Go for 1. make up a lie and hold on to it for dear life! tell as few people as possible about the s&t gig this kind of stuff tends to catch up with you.

Tell them personal reasons, and they should back off. Don't tell anyone about the S&T job or what you did. I don't know about additional downside, I can't tell you from personal experience, just trying to think it out.

Personally, I think resigning to go elsewhere is a terrible, terrible idea. You're better of reneging and shooting for a FT offer -- even if you don't convert the FT offer, you'll have the S&T internship experience to shop around. Given the assumption that banks actually recruit at your school, I'd assume there are plenty of alumni in S&T that you could reach out to to "bypass" the OCR portion of their recruiting. The OCR reps may not understand your decision to renege on the consulting firm to work in S&T, but my guess is alumni in S&T will fully understand and, in fact, likely agree that you made the correct decision.

Resigning from the consulting firm is just completely dishonest, and that is not an avenue you want to explore... It's a huge negative, and most places (consulting, banking, anywhere) will look down upon that if it comes out (which it likely will).

s&T, no brainer....jsut quit citing perso. reasons

I would resign. Failing the drug test could be even more negative for your career. Quitting half way will screw the company more than resigning since they wont be able to find another intern.

Personally, just because the career center in all of their amazing power and authority "blocks you" from OCR you can always show up to the info sessions and network. If you want to do S&T then you have to go for it.

Accept both offers. Show up at the consulting one first -- see if it is truly a fit, resign if you don't like it. Then go on to the S&T gig. Anything can change - the consulting firm can renege on you, then where are you? The S+T firm can renege also or switch your position depending on the market that day. I suggest you cover all bases and let the OCR issue fall where it may.... tipping them off in advance is lethal.

I was known to go on vacation at one job, try the other one and resign from the first one -- ethical no, but I had a good paycheck. Second firm did not care.

If you resign, it might follow you when you have to do employment history checks for FT. You will have to list that you worked for the consulting firm, and that you left, and probably why you left.

^^^ Good call. I was gonna point it out. The problem of resigning is that you won't be able to put that experience on your resume.

Here's a true story from a friend.

1. He went through the SA recruiting last year and it was not very successful. He landed a SA position at a regional boutique.

2. He accepted the offer, and he continued interviewing. He later received an S&T offer at a BB, which has a later start date

3. He accepted the S&T gig without telling them he already accepted another offer.

4. He proceeded to start interning at the boutique, pretending nothing had happened. And he did the exactly same thing LLcoolj mentioned

" keep a very low profile. Spend as little time with people there as possible - reject any after-work drinks etc. Do not stand out in anyway. The less of you they remember, the better. Consider hiding in toilets for hours every day, taking long lunch breaks etc. Your aim is NOT to get fired, but to simply be forgotten, however no doubt there will be a real chance of you getting fired."

Near the end of the 4th week, he told his boss at the boutique that he needed to go back home due to some family emergency. He quit and started working at the BB the following week.

Nothing has come back to bite him so far. I applaud for him, except that he had a very lame excuse "family emergency"...He said he couldn't think of any better ones....

end of the story

Why can't you give the consulting firm the same reason you are planning to give it mid-way through the internship? If you make up an acceptable excuse (and let OCR/career director know about it too) I don't think they would be pissed enough to want you banned. I would not resign midway - I have done that before - left a job for a small IB and it wasn't fun. Besides, like the above two posts suggest, it will show up in a background check as you paychecks can be traced back through your ssn.

maybe if your in tight with your dean, or go to him/her for "counseling"/seeking advice on the matter and you demonstrate that the s&t offer is what you've always wanted. they might possibly be able to talk to the career center to prevent a ban for ocr ...just another idea