Advice / redundant IB to corp dev

Based on previous WSO threads, here are some key points to consider regarding your situation:

1. Transparency and Honesty:

   • It's crucial to be transparent during the interview process. If recruiters or potential employers find out that you were not entirely honest about your departure from your previous bank, it could raise red flags. As noted in the WSO threads, firms value transparency and may rescind offers if they discover discrepancies in your story.

2. Background Checks:

   • Many firms conduct thorough background checks, which may include contacting your previous employers. If they find out that you were laid off and you did not disclose this information, it could negatively impact your chances.

3. Reneging and Offer Rescission:

   • According to the highest-ranked content on WSO, firms take reneging seriously and may rescind offers if they find out you were not forthcoming about your employment history. This is especially true if they receive calls or emails questioning your employment status.

4. Career Services and HR Policies:

   • Career services and HR departments often have strict policies regarding transparency. If your previous bank or the start-up you joined has a policy of informing future employers about the circumstances of your departure, this could affect your current job applications.

5. Networking and Reputation:

   • The finance industry is tightly knit, and people have long memories. If you are not honest about your employment history, it could affect your reputation in the long run. As mentioned in the WSO threads, people move around within the industry, and your actions could follow you.

Recommendations: - Be Honest: If asked directly, be honest about the layoff. You can frame it in a positive light by emphasizing what you learned from the experience and how it has prepared you for future roles. - Prepare Your Story: Have a clear and concise explanation for why you left your previous bank and why you joined the start-up. Focus on the skills and experiences you gained during this time. - Leverage Your Network: Use your network to get referrals and recommendations. A strong endorsement from a former colleague or manager can help mitigate any concerns about your departure.

By following these recommendations, you can navigate the job application process more effectively and reduce the risk of having an offer rescinded.

Sources: Current IBankers: What would you do if a summer candidate reneged another offer to sign with your firm?, Current IBankers: What would you do if a summer candidate reneged another offer to sign with your firm?, Backing out after accepting an offer, Reneging, Will my FT offer be rescinded?