A dillemma of "Safety Net" Strategy
I'm now doing Ops SA with a BB. The bank is in a hiring spree to build their support headcount. So BO interns would have a big chance to secure a FT offer.
But my heart lies in FO - IBD as my ideal target. Had several chances to interview with other BBs for IBD SAs, but all failed. May be lack of preparation. My last push is I've secured a 6mth boutique IB internship (small but covers a relatively new industry sector). adding to my previous experience as an econ research for mid-market global markets, I feel that I may have a good chance to impress other BB recruiters.
But who knows how competitive the race for FO positions next year and how voracious banks wanna hire FO grads. And this potential FT Ops offer will act as my safety net. If shit happens and I dont get an FO job at the end, I'll take the Ops FT - they still pay better than average market wage for grad.
Trouble is, the Ops offer from this bank will be rolled very early prior to other recruiting cycles of other banks. Which means that if I wanna keep my safety net, I need to sign the contract before I can apply for FO positions at other BBs.
What if my luck favors me and I've been offered the FO/IBD position? Can I cancel the prior Ops employment contract I've signed? Is there any legal backlash I could be liable of? What would you suggest?
Can anyone suggest any "politically-correct" reasons to give to the Ops Bank for cancelling the contract? Has anyone ever been through this kind of situation where they've signed a contract but a better offer comes along?
Appreciate your advice & help!
PS: Yes, I've tried asking the current bank HR about the possibility of interviewing for FO position there. But they have a tight-ass policy that if I fail to secure the FO position, I'll lose my eligibility for the BO position as well. You know, all that jazz about job fit bullcrap. Just don't wanna risk losing this hedging tool... LOL.
search "renege"
You already have 1 foot in the grave dude. Life isn't about front office IBD or Ops. Why not look at F500 roles, development/leadership roles, sales roles, etc.
Why is everything on this board Ops or IBD. If you're not doing investment banking then go do something else. Don't settle for supporting investment banking. Corporate finance can be challenging, you could do phama sales or something, GE/Lockheed Martin/ J&J, etc all have rotational leadership development roles that are great. Point it, back office sucks ultimately. Not only are you doing a job that is not intellectually stimulating, but you are constantly reminded that you are so close, but so far away. Go do something else with your life.
Don't get blinded by the name on the business card.
Definitely this.
You're legally liable but they will never sue you. They only bother for ED, MD, C-levels and the like.
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