Renege your IB SA offer for GS IBD offer?
Just curious where people would be willing to renege their offer for GS IBD: * IB MM? * M&A EB? * RX EB? * another BB?
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Honestly I wouldn't renege any of those. A bird in the hand is worth more then two in the bush and you have no idea whether that GS SA offer will even convert to FT (chances are low due to the competitive nature). Also you don't know what the future holds and simply burning bridges with a bunch of connections that could help you later down the road is a terrible way to start.
why is reneging your offer so bad? Especially, when firms like EBs give you such a short time frame to accept.
Because it reflects extremely poorly on you, your school, and the alumni network. Senior bankers who are alumni of your school put in a lot of time assisting with recruiting and networking to bring in junior talent. When you give them your word, either verbally or on paper, it is a pretty big fuck you to them when you reneg. Not to mention, wall street is very small, interconnected, and you're going to piss off influential people with long memories.
Watch what's happening now in NBA Free Agency. No one cares about loyalty or respect for the organization that gave them the opportunity. Just renege if you get a better offer than the one you've got after accepting the new offer.
Lol - you're not actually comparing an SA to an multi-yr NBA free agent are you? I think you are.
This only holds true until a Bank decides to lay-off employees en masse, and you're picked as one of the unfortunate few.
I respectfully disagree with you here; while it's a privilege to receive a job offer (and something that you should be grateful for), the bottom line is that employer and employee alignment is not symmetrical. At the end of the day, Banks (and employers in general) hold their own self interests higher than that of their employees. Loyalty, in my mind, is a romantic but impractical notion.
is it considered reneging if you accept an offer with a firm for next year but then you decide you want to accept a return offer from your current firm for next year?
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Renege non-BB corporate banking FO role in a top finance city (NYC/London), or keep BB IB role in an EM city? Appreciate any thoughts.
renege
Keep BB IB
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