Reneging as a lateral - is that a “no no” in all circumstances?
I have been in the lateral process for some time at two different shops.
One is an EB (Laz/Moe/Evr) IB role, the other is a BB (Citi/BofA/Barclays) DCM role.
I had my BB DCM lateral super day in the late afternoon today, and think it went well. I expect to hear in a day or two.
I have my EB IB super day in a week and a half. For some reason, they’re not rushing the process, but they sent the calendar invite and building access pass, so I know it’s legit.
Let’s say I get the DCM role. I’d take it over my current role in a heartbeat. It’s a good seat, I like the team, and I got the interview through a connection … and it’s a small team.
If I’d prefer the EB role and cannot get an extension on deciding on the DCM role, do I…
A) Simply accept the DCM role
B) Accept the DCM role and consider reneging if I cannot get an extension
C) Tell the EB I have an exploding offer and they need to expedite, but if they don’t play ball, accept the DCM role
Friends and family are telling me to lean towards A), as that’s just how the timing shakes out sometimes, but I wanted to get a second opinion.
Is this bofa dcm lcm
Would that factor into the advice you’d give me here?
hes gonna tell u to turn down the DCM role so he can get it
Bird in hand better then 2 in a tree or something idk
Nobody at any self-respecting bank gonna give a fuck that you have an exploding offer elsewhere. You’ll likely get the “congrats on the offer” line and they’ll move onto the next guy. Only consider reneging if the other bank and group are your literal dream places to work. The maximumm consequence of reneging is that you won’t get to work for that group/division at the bank again, until HR loses their records or something, which will happen in just a couple of years lol
If you're in NY I would go with B. If you're in a smaller city, try to get an extension on the offer. If you can't; accept DCM.
Just renege. No one will care and even if they do they will forget it soon. No repercussions on your subsequent applications with other groups in the bank.
^ reneging will only affect that one group at the bank since a different HR dept manages applicants in other groups
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