Reneging on IB offer
Hey guys, I’m currently in a tough position and would like to know what you think about it.
This summer I did an internship at a 2nd tier BB (think Citi/CS/BofA) and received a full time offer, which I accepted. However, I’m currently finishing an off-cycle internship at a major BB (MS/GS/JPM) and I think I will receive a full time offer since it’s all going pretty well.
I would prefer to take an offer from the second firm but I’m not sure about reneging on the offer that I already have.
Would you guys renege on the offer from the first firm and accept the one from the second one or just stay with the initial offer?
Thanks
Following
Be transparent with the firm you want to renege for. My buddy reneged on Citi and went to GS, GS found out and pulled the offer. He works in CRE now.
Seriously doubt this claim unless your buddy was incredibly rude to Citi when he told them. At GS rn and reneged an offer from UBS and they did not care at all
I know who you are traitor
Don't do anything until you have the second offer in writing. If you chose to go to the latter, just be up front with your decision. Finance is a small world so try not to burn a bridge if possible.
At the end of the day you need to do what's best for you and your career.
Couldn‘t the second place still pull the offer if they really wanted to?
Not worth the risk, also this is super specific. If someone was crazy they could probably figure out who you are using LinkedIn
Dude do not renege solely for a slight prestige upgrade.
It's one thing if you realized finance is not for you and you're going a totally different direction, but you'll burn every bridge at your old firm which is a terrible idea if you're just going across the street to the next bank.
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