Rejecting a summer offer after accepting it for a better opportunity
I have accepted a summer offer for Big 4 M&A with the hopes that it would be transferrable as I try to break into IB. I only accepted the offer as there was a strict deadline and I had not heard back from other opportunities at the time. Now I am in the final stages of a tech VC/PE fund process and am considering my options if I get an offer. Maybe I shouldn't have continued with the process given my previous offer but I was interested in the role and wanted the PE interview experience.
Now I'm wondering: a) how bad does this look for a summer to terminate an offer and take another opportunity (for context, I have told multiple people in IB that I've networked with about where I will be going already), and b) how would I even go about doing this in a professional way if it were to happen, c) is it even worth the switch. Any advice is appreciated.
A) not great, but you need to do what’s best for you. The people at the Big 4 firm aren’t going to love you afterwards but does that matter in the long run?
B) be professional. Communicate and do so succinctly. Get in and out. If you did this through on campus recruiting then make sure you are aware of any alumni blackball period you might get from doing this and consider that when making your decision.
C) in the end it’s up to to you, but if you get an investing role vs Big 4 M&A and the former is your end goal, it seems like a no-brainer. I would write out a good old fashioned pros and cons list if you receive the offer.
Oh, and definitely don’t turn down the Big 4 offer until you are 100% locked in at the other place. I don’t just mean offer letter accepted, I mean background check completed, HR onboarding started, etc. i.e., the point of no return. Don’t want to be stuck with nothing and there’s no harm in waiting another couple weeks for the stuff I mentioned to get going before you turn down the first offer.
Yeah would go to buy side rather than big 4 M&A. They didn’t mind to fire all their interns during covid so I wouldn’t mind to go for the best OPP either
Facts. Employers don’t give a fuck about you when it’s time to do what’s best for them. Do what’s best for you
Depending on the length of your summer break you might be able to do both. Spent six or seven weeks in each opportunity, depending on the length of your summer
Also keep in mind if reneging will affect future recruitment at your university. Some companies will blacklist the university for a period of time.
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