Reneging risks/how to best approach?

Hey all,

I’m a sophomore in undergrad (target university) and I’m looking for some perspective on a situation I’m in.

I recently signed a banking offer with a BB on the West Coast after waiting basically until the deadline because I was still in a few other processes. Right around that same time, I wrapped up a Superday for another BB’s Asset Management arm in NYC, and I just found out yesterday that I got the offer.

I would much prefer NYC over CA, and the AM team is much closer to what I ultimately want to do out of undergrad. So on fit/location/career direction, the NYC role feels like the better option.

My concern is the whole reneging thing. When I talk to people, I get completely different answers. Some say it’s not a big deal and that at-will employment goes both ways/industry is cutthroat so it should be expected, and others say that reneging can effectively ruin my career out of college. 

How risky is it actually to renege on a signed BB offer, especially as a sophomore? How likely is it that people in the regional office actually call everywhere and try to ruin my odds with the other BB? I know that I shouldn't put the new offer on my LinkedIn if I were to renege (and to tell as few people about it as possible), but I'm still worried about reneging given what some have told me about it.

Any insight would be really appreciated.