Dipping last minute after signing offer?
Hi everyone, a long time lurker here. I got an offer to join the M&A team of a BB in London as 1st year Analyst starting in January, that I signed. However, two weeks later I got an offer to join another firm that I prefer by a wide margin. How binding is my signature on the contract? Is it possible to sign the 2nd offer and tell the 1st BB that my plans changed? How does it work?
I know it's not necessarily ethical, but honestly have seen so much insane stuff unfold that I don't think anyone would take it personally that I'm looking after my own interests.
What do you monkeys think?
Finance is a smaller circle than you think. It’s risky, but i’m all for looking out for yourself first, especially in IB when they’ll fire you the second you’re no longer useful.
If you’re going to reneg, say it’s for personal reasons, keep it very vague. DO NOT update your linkedin until your probationary period is done at the new shop, and be 100% sure you never want to work for that BB again, in any part of their IBD.
Congrats on the offer, this is a great problem to have all else equal.
Thank you that's very helpful. Sorry for stupid question but when monkeys use the term reneg, it includes asking for a different salary or canceling the contract altogether?
Also how does it work in practice? Do you send an email to HR, they curse you and that's it?
In the context of your situation, reneging would be backing out of your commitment. I don’t think anyone here tries to renegotiate their comp given its standard across the analyst class.
Why do you prefer the other bank? The truth is, as a junior, your experience will be roughly the same across the BBs. Unless you by far like the people at the other bank's team, there is no reason to switch - and even then it's a bit of a wishy-washy reason.
There is like no upside here to reneging, pretty much only downside.
it's because in the 1st BB I only hear negative news aka numerous MDs leaving and analysts being treated like shit. The people seem to be more in line with what I want in 2nd BB, and also the role is LevFin, which is something I'd much rather do
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