I’m a senior at a target who interned at a top ER shop (MS/JPM/etc.) last summer and received the return offer. I was given only a week to consider whether to take it, so of course I did. I continued recruiting full-time, however, and recently secured a spot at a top MM program (P72, CAP).
How risky would it be to renege ER for this program? I feel like it’s the kind of opportunity I have to go for. Am very interested in your thoughts. Thanks.
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If it’s actually P72/CAP then take it and don’t look back
You wouldn’t worry about any fall out from the ER shop / chance of offer getting pulled at P72/CAP if they learned about the renege?
You are the client, they are the research providers. No space for ego. They need your money to survive.
Zero bank will enter in a conflict of any form with a hedge fund for an intern.
Agree with the above. Especially if you are not assigned to any team yet. If that’s the case, the only people who would even know you renege is HR. And what the fuck are they gonna do
Did this exact same thing (exact same firms) a few months ago. Reneged and haven't had any issues.
Interesting – I’m assuming you didn’t tell the ER firm where you were going, right? What about telling your friends / your school?
If the above is correct though, it doesn’t seem like it would matter if the firm found out.
I didn't tell the bank; some people I was close with there knew I was recruiting for the fund and encouraged it, but no one in HR/mgmt.
My school doesn't give a shit about careers. I told my friends.
Obviously take it
No doubt about whether I’m going to take it or not – I guess I should rephrase my question as I’m more so trying to get a sense of how reneging could bite me (what’s the downside and how realistic that it occurs?)
You’re overthinking it. They’re going to be sucking up to you once you’re the client.
You may think it hurts their ego, but you are just another face to them. There are 100 kids waiting to take your spot. Do what's best for you & congrats!
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