Anyone have experience rescinding a offer?
Have anyone rescinded a offer after you sign the offer letter? How did it go for you and how did that call with the MD or group head at the firm went? Any consequence?
I have for a small boutique after getting a better offer.
I phoned the person who gave me the offer, was an awkward 3 minute phone call and nothing after that. I just said I'm so sorry, appreciate the opportunity but something else has come up and I just can't turn it down, etc. I'm sure they'll understand
Unfortunately, this is for a BB. The group head and MD not only went out of their way to give me a small raise in salary / relocation expense, they also expressed that they want to take my family out for dinner after I arrived in their city. However, the role is in DCM (loan syndication and I really prefer M&A). They have also allowed me to start in 1 month, even though they want someone to start ASAP. Therefore, I hate to rescind my decision, but in the event that I need to rescind, does anyone know what can be the potential consequences? Blacklisted from the BB forever?
Yeah this is a really bad look. I would honestly just take the role, do a good job, and lateral out in 7-8 months... reputation and profile last a long way in your career. Juniors often underestimate the impact it has on overall longevity
Agree, however I don't think leaving in 8 months will be any better than rescinding. Would love to hear from the WSO community, if they had experience rescinding a offer and what that conversation is like?
I have experience accepting two offers at the same time and then reneging both for the actual dream offer I wanted. Take whatever offer you want and reneg/rescind the others and don't look back. This isn't a "really bad look". You're doing what you need to for your personal professional development. You will likely never speak to said MD again and I doubt you will be blacklisted. Even if you are... you got the offer you wanted. Please take it and don't look back, no reason to regret anything.
Can you talk a little about how that experience was like and maybe provide some color on the details?
Sure, happy to. Received two offers (one IB, one PE, then my favorite/dream one at a big 3 RX Consulting firm). Very simple. Told the PE firm I was interested in the opportunity at the time, but no longer want to pursue a career path in PE. Same as the IB shop. Expected heavy push back, but what are they going to do? Curse me out? Tell me they're going to find out where I'm working and ruin my career? Please. They have more to worry about and better things to do than someone who wants to do something else. Just don't tell them where you're going and if they ask, say you're leaving for the exact reason I said. Now if you're taking a gig in the same industry i.e. IB to IB, maybe just say it's for personal reasons and don't look back. They'll understand because you'd always have your foot out the door if you didn't leave.
TL;DR: Don't tell them what firm you're joining, don't even tell them the industry. Just say you are no longer interested in the opportunity and bullshit whatever else you want.
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