If you are a current summer analyst at an IB and they give you a return offer, how long, on average, do you have to accept it? Also, would there be implications if you accepted the offer but continued to recruit and potentially went back on your acceptance if you got something else?
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Spending a summer with a team then reneging them is a great way to kill your relationships on the street.
Either accept the offer and continue to recruit to potentially lateral or deny the other and recruit for FT
Would like to respectfully disagree, we are in the financial services industry. Your company does not give a shit about you, thus u should reciprocate
To answer your question - tends to be 3 weeks. Some places have a bigger signing bonus if you sign earlier. I have seen shops give out week long return offers.
For the bigger theme - I would argue do what’s best for you. I do understand it’s burning a bridge, but at the end of the day, it’s a business. From my experience, juniors tend to be forgiving, and a slight select of seniors will feel angry.
That being said, don’t shop the offer like you’re at target. Have a few places in mind and apply there.
Best of luck
BB's usually give 1 month to accept, with signing bonus getting cut in half after 2 weeks.
The recruiter will give you an acceptance timeline when they call/email you back with an offer. Usually lasts about 1-2 weeks and sometimes will allow deadline extensions up to a couple weeks.
Reneging is an extremely bad look. For a fresh college grad I would highly advise against torching a relationship like that before you even start your career. If a group or person is particularly vengeful or bitter about it, they may tell others that you reneged on them and therefore not trustworthy.
My alma maters finance network blacklists renegers. Some people on this forum will tell you it's okay to renege. Maybe you do it and it's fine. I think the downside risk potential assuming you already have a really solid IB offer in your pocket makes no sense to me.
lol my school puts it on your transcript if you reneg anything (including SA offers) to maintain our connections with the firms.
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