Reneging consequences for MBB?
I interned at tech F500 in engineering this summer and received a return offer with a rather short deadline. I was forced to accept the offer while still interviewing for MBB consulting since I didn't have anything else and the offer was too good to pass up. I received the MBB offer a couple weeks later and I'm planning to accept it.
Will there be any consequences in the background check if I renege on the tech offer? I am not planning to tell the tech firm that I'm leaving for consulting, and haven't told the MBB firm that I'm reneging either. How should I actually go about letting the other firm know? E-mail vs phone?
I'm just very concerned because I worked there over the summer and I know that I won't be able to use them as references any longer, but I'm convinced I want the consulting gig. Has anyone been through a similar experience? Thanks!
I reneged an accepted SA IBD offer for MBB, had no trouble. Just be up front with the tech firm say your circumstances have changed and you are pursuing other options.
Nice. Did you just call HR or also talk to your supervisor? Who did you list as your contact person from that company?
edclancy: would be a little concerned if you will be handling a lot of tech clients as a MBB consultant. Your old company could end up being a client...
I didn't tell anyone at MBB that I was reneging outside of my close contacts. If you are worried try speaking with someone you trusted during the interview process and they will give you candid advice.
To renege I called the HR contact at the bank and explained that my circumstances had changed and I would no longer be able to join them for the summer.
As for them potentially being clients, this is an almost complete non-issue. The likelihood that your former boss is high enough in a company to be interacting with the MBB consulting team is very low. To the F500 you are probably nothing more than a cog in the machine, they probably won't even blink at the news. Just remember to be courteous but firm.
Thanks a lot man. Did you talk to your former boss at all?
I guess it's slightly different since you accepted a FT offer after a summer and I just reneged on a SA offer. Talking to your former boss is probably up to you. Depending on your relationship with them it probably couldn't hurt to explain to him you won't be joining anymore. Just be sensible about it, don't bad mouth the F500. Say that another path seems a better fit or something. If he is reasonable he should fully support you doing what is best for you, if not... well then at least you made an effort.
renege in consulting (Originally Posted: 02/18/2010)
we all know reneging in finance is a pretty darn bad idea...
well, i was wondering about my personal situation.
so i accepted a job offer at a 2nd tierish consulting firm (company A), mostly for a data heavy position doing a lot of operational sort of work. the job isn't supposed to start until end of summer. it was all i had so i took it.
unexpectedly, 2 months later, i got an offer from a company (B) who initially could not give me an offer, that does marketing consulting, similar pay and things like that, but with a more varied client list (first company is mostly one industry), and a bit more variety in the type of work (that is to say, less sitting and coding, though still a decent amount of data work, but also chances for some more strategic esque things).
A is also pretty international as a company, while B not so much and is smaller (or at least the consulting part of it is), but the job is in the burbs, while B is in the city.
all in all i think i would be happier at B and enjoy the work I did more.
people have told me a variety of things from it not mattering if i go back on my offer if i am nice, to all hell will break lose and everything will be ruined. of note, both of these started as on campus interviews.
so can i go back, and if so how should i do it/communicate it, in terms of what to say? or should i just forget about it and resign myself to the other job?
no advice?
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