Lateral Recruiting Reneging
Had received and accepted an IB analyst position at a MM as a lateral hire with my start date approaching shortly. However, I also just received an EB offer as well.
I understand that it is generally best to avoid having to renege on accepted offers but, given the significant upside here, I was wondering how likely would the MM bank try to go after me if I did renege and try to ruin my other offer? Also, if the EB found that I had to renege for them, would they rescind the offer or would they be understanding of the fact that I renege in hopes of being able to hopefully develop a career with the EB?
Based on previous WSO threads, here are some key points to consider regarding reneging on an accepted offer:
Consequences of Reneging:
Reputation and Career Impact:
Firm Policies:
Advice from Current Bankers:
In summary, while the upside of moving to an EB might be significant, the risks associated with reneging on your MM offer are substantial. You should carefully weigh these risks and consider the potential long-term impact on your career. If you decide to proceed, do so with caution and be prepared for any consequences.
Sources: Should I renege this late?, Current IBankers: What would you do if a summer candidate reneged another offer to sign with your firm?, Accepted an offer in IB but debating on going to another bank's Superday for Commercial Banking, Current IBankers: What would you do if a summer candidate reneged another offer to sign with your firm?, Renege BB PB Offer For MM IB?
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