Working

Sounds like you made a decision already; the best thing is to live with it and leave after a year if you really hate it.

Word gets around so fast...don't risk it.

reneg away....start interviewing at other shops and then if you get a better offer, take it. no hesitation.

Couldn't agree more with Jimbo. They wouldn't think twice about rescinding offers so don't feel bad looking around. If anything if you stick with the current firm, you'll know you're there for the right reasons and not for a lack of other opportunities.

nystateofmind + Jimbo:

Are you guys sure about that? You never know who has a lot of power, could just be a lowly VP. Some people are infuriated by reneging. Wouldn't you be worried about some self-righteous banker making phone calls and blackballing your career?

"Are you guys sure about that? You never know who has a lot of power, could just be a lowly VP. Some people are infuriated by reneging. Wouldn't you be worried about some self-righteous banker making phone calls and blackballing your career?"

No. How would they even know where you went anyway? You don't need to tell them.

I'd be worried about them throwing me out on the street with no recourse.

Welcome to the world of at-will employment.

HR people talk to eachother, most of them have worked together at some point in the past. And believe the fact that everyone at that bank will be talking about the "little douche" (or some other choice set of words) who reneged on his offer. They will tell their friends at other banks, at all levels. And before you think to ask, yes at any bank one person with strong feelings about you negatively is enough to get you blackballed (barring your dad being the CEO or some such).

Plus, if you liked the joint why would you risk it in this job market.

A little clarity... my offer was for another summer. I interned as a freshman. Is a summer intern really important enough to be blackballed?

so this is going to be sophomore year into junior year summer?

stick with the offer. how'd you swing a summer internship as a frosh anyway?

Yeah, I'd keep it anyway just cuz it'll save you alot of time and give you some brand loyalty cred on your resume. However, no they won't care that much over a lost summer. They will care, and they will talk because you accepted and then would be rejecting, but not nearly as much as if this were even a junior internship let alone FT.

Don't do it unless you definitley know you can get a job somewhere else. The market is not good right now

Yeah, speaking from experience at an uber-target (watching friends do it, that is, since I'm all set) FT recruiting this year is in the dumper. Take past years' odds and cut them in half. Couple banks bringing back all of 5 ppl for 2nd rounds to fill maybe 1 or 2 slots at most (don't know if the jobs even exist of if they're just for show), many other banks filling only a very small handful of openings. Consulting sounds like it's going alright, IBD is a bitch to break into. Lot of very qualified people crapping themselves as they reach the end of the recruiting season with nothing to show for it.