Not Accepting MM Offer and Wait for a Better Bank

Hey guys,I am fortunate to have received an IB internship offer from a MM in London, which I have to sign asap

However, I have 3 ACs with BBs coming up in the following weeks. I like the MM but I would take any of these BBs over the MM given that my ultimate goal is breaking into the buyside.

A friend of mine told me to accept the MM offer and renege on it if I get an offer from any of these BBs, but I just don't like the idea.What are the consequences of reneging? And what is the best approach? Tbh I'm more inclined towards not accepting the MM offer and try to ace the BB ACs.

 

Generally an offer in hand is worth more than 2 in the bush. I would sign the offer and either renege or lateral later - it's only a summer and you can always lateral up after summer or 2yrs. My only concern with reneging is how your school's career services will handle it as some school's will blacklist you from using their services and platform.

 

Don't be naive. Take the offer and do what you have to do on the backend if it comes down to it.

 

Hi Brother, I think you are forced to accept it and renegate it if you get the BB offers,

It's sad to say but remember they would renegate your offer without any hesitation if they have to, think of what happened in the beginning of the Covid-19 with all the internships canceled overnight

Anyways, if they're smart, they'll keep some candidates in a waiting list just in case of, just don't be a dick and don't renegate it one day before your starting day, tell them as early as possible

 

Pariatur eum magni facilis eaque quia sunt quae. Magni nulla facilis facilis soluta qui eligendi. Modi voluptates aut velit aut.

Nostrum ipsum qui vitae qui. Blanditiis iusto recusandae nostrum. Asperiores iure quo quam tempore inventore. Libero delectus ut est fugit.

Itaque a odit cumque omnis. Laborum tempora corrupti recusandae eos voluptate perspiciatis distinctio. Rem adipisci eum officiis dolor sed explicabo iusto.

Dolorem optio quasi tempora repudiandae rerum voluptatem. Quis quia ex nemo deleniti ut corrupti. Ipsum et voluptas necessitatibus aut.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
numi's picture
numi
98.8
10
Kenny_Powers_CFA's picture
Kenny_Powers_CFA
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”