2 Offers! Need Advice
I was looking to get into IB and applied for multiple analyst positions. I told a friend of mine, and he recommended me to an MD at an IB firm looking for an analyst to scale up their group. I interviewed, got the job, and accepted the offer. I kept interviewing because why not? It was fun. I just got another offer from an EB known for giving pretty decent bonuses. The pay is a bit better, and I got a bigger sign-on bonus.
I've already accepted the first offer and I'm worried about the impression it might leave if I were to back out now, especially after having a personal discussion with the MD. I don't want to start off on the wrong foot in my career.
Please, I need advice!
I’m not a banker but I’ve been in a similar position. It depends on how it will affect you and your friend how much he knows that group and if you rescinding negatively affects him.
If he doesn’t care and it won’t hurt him just take the job you really want. All I see on here is young dudes getting grinded to the ground at these banking roles might as well put you first instead of them anyway. If all things are equal between both roles but one pays substantially more take the one you want. It’s not like this group is gonna go into the banking and pe group chat and announce you as a bad dude to everyone on the street. They’ll fill your seat with someone else pretty quickly too don’t worry about them. The only downside I see is if you somehow run across these people again in the future on some deal or another job but that’s worth the risk.
However this is all my opinion and based on my experience, I bailed on an operations job offer in reinsurance immediately after I got an offer for a trading role that I later moved on from for a sales role.
As a banker: OP should do what's best for him. Take the brand name, take the money, take the EB. What, the MD is gonna go yap on the street that a 20-something prospect reneged on Bucketshop Advisors to go to EB Inc. ? This industry is a fucking meat grinder and you can get fired tomorrow - NOBODY CARES. Do what's best for you (fuck your friend too if he complains lol).
Thank you for the advice. Its really tough putting people through the stress of hiring then ghosting.
Which EB is this, can give some insights
Echoing the other comment, really depends on the nature of the relationship with your friend and the MD. I would be careful that if you do choose to go forward with the EB, consider those relationships burned and that they will most likely not hire you again or do you any favors. If the relationship is loose between the MD/friend and yourself, and that they're a smaller firm, I would probably take the EB role and reneg with a well worded email.
I will say though, if you're interested in a specific niche field and that both banks / teams are doing well in, it's a small world so be careful with how you decline or reneg
why is that?
Everybody knows each other
Do not offer me anything
Say yes
Talk to your friend first if he is not directly tied to the bank.
You’ll burn that bridge but it’s worth it IMO. It’s everyone for themselves out here.
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