Jun 18, 2022

How to renege an offer?

I accepted a banking offer 3 weeks ago (after getting one extension). Now I got the buyside offer I really wanted. What's the best way to renege? Should I send flowers?

5,802 WSO Academy Investment Banking Session Reviews: 4.82/5

Class of '28 Jul 2026 Cohort

5.00/5

Investment Banking Mock Interview

“The questions were amazing and genuinely challenging, which made the session extremely valuable for me. Going into the mock interview, I felt that I had memorized and understood most of the critical technical concepts, but Julius pushed me beyond the surface-level knowledge and went much deeper into the accounting side. That was especially helpful because it showed me the difference between simply knowing the main concepts and being able to confidently explain the details, connections, and reasoning behind them under pressure. The behavioral portion was just as useful. Julius gave me very detailed feedback on how I should prepare for questions related specifically to my background, experiences, and story. Rather than only practicing the standard behavioral questions, we discussed how interviewers could dig deeper into different parts of my resume and ask follow-up questions about my academic path, previous experiences, motivations for finance, and the decisions I have made along the way. This helped me understand that I need to be prepared not only with strong initial answers, but also with clear and thoughtful explanations for almost every important part of my background. One of the biggest takeaways from the session was identifying the areas where I should spend more time developing a deeper level of understanding instead of relying on memorization. Julius was very good at asking follow-up questions that tested whether I actually understood the underlying concepts, which gave me a much clearer picture of what a real interview could feel like. We also created a longer-term preparation plan together. Our goal is to work together approximately once every two to three weeks and use each session to focus deeply on a particular topic. Instead of trying to cover everything at once, we will gradually specialize in different areas and build my knowledge step by step, while continuing to work on behavioral questions and my overall interview story. I think this structure will be extremely helpful because it gives me enough time between sessions to study independently, address the weaknesses we identify, and come back better prepared for the next topic. Overall, the session gave me a much better understanding of where I currently stand, what interviewers may expect from me, and what I need to improve before recruiting begins. I left the session with very clear action items and a much more structured approach to my preparation.”

Class of '29 Oct 2026 Cohort

5.00/5

Investment Banking Mock Coffee Chat

“Kevin was incredibly helpful. He took the time to do a coffee chat with me and was candid about where I could improve. His main point was that I should build more knowledge of the industry before these conversations, so I can ask sharper questions and show I've done my homework. He also gave me a clear framework for the conversation itself. Start by asking about their background and how they got into their role. Then ask for advice for my field, including what they would do in my shoes. He also explained when it is and isn't appropriate to ask for a referral, which is something I hadn't thought through before. ”

See All 10,829 WSO Academy Reviews

11 Comments

Analyst 1 in IB-M&A

Call and say you’re not doing the internship. It’s not that deep

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Authored by: Certified Hedge Fund Professional - Investment AnalystCertified Hedge Fund Pro

yidfellow

I'd send an email. Much better that way.

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Analyst 1 in IB-M&A

Disagreed

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Authored by: Certified Hedge Fund Professional - Investment AnalystCertified Hedge Fund Pro

3 replies

Analyst 2 in IB - Cov

this was an associate level offer, does that matter?

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Authored by: Certified Private Equity Professional - 2nd Year AssociateCertified Private Equity Pro

Analyst 1 in IB-M&A

Ghost these mofos lmao

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Authored by: Certified Investment Banking Professional - PartnerCertified Investment Banking Pro

Associate 3 in IB-M&A

Definitely no flowers...

Call and tell your contact and then also follow up in writing (email) to confirm it. Don't tell them where you are going

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Authored by: Certified Investment Banking Professional - 3rd+ Year AssociateCertified Investment Banking Pro

Anonymous Monkey

Spot on, always call and follow up in writing. Emphasize you are terminating your contract immediately.

Best of luck

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Intern in IB - CB

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How to renege an offer?

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How to renege an offer?

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