Looking to pursue a personal venture that is doing well. However, I am afraid that if it doesn’t work out I won’t have a backup plan.
I have already accepted a FT offer for 24. Is it looked down upon if I renege my offer? If my venture doesn’t work out how screwed will I be? Will the same firm take me back lol
| +845 | Bank of America - Juniors Strike to start Monday May 6th | 117 | 53s | |
| +541 | BOFA ALREADY TRYING TO COVER UP THEIR TRACKS | 72 | 4m | |
| +300 | This is a dark day for Wall Street. | 32 | 2h | |
| +154 | Investment Banking US League Table YTD 2024 (FactSet) | 85 | 5h | |
| +147 | Big Layoff at Barclays - 5/1/24 | 85 | 10h | |
| +90 | “Americans just work harder” | 54 | 3h | |
| +83 | Would comitting to ATL İB be stupid? Please give feedback. | 45 | 3d | |
| +69 | Sleeping on Jefferies??? | 35 | 3h | |
| +66 | A shitter's comprehensive guide to sophomore year recruiting | 8 | 1h | |
| +60 | What's up with RBC nowadays? | 28 | 2s |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Ask for deferral
Firm will 10000% not take you back and you're usually blacklisted
Personally I would try to do your job for at least a year - not for their sake, but you're going to be incredibly screwed if your personal thing doesn't work out and you have no formal work experience. Make the personal thing a side gig, delay it for a bit etc.. but even one year of banking will legitimatize you, both in startup land and if it fails and you want back into corporate.
As an opposing point, I have a friend who got a top PE offer out of UG (think KKR/BX) but reneged FT to pursue his own startup. Now 3 years out his startup is very successful and is valued at 8 figures and growing rapidly. He actually got called by a VP at the PE firm he reneged at and he said he has a great relationship with them (ie if he wanted to they would hire him) so the blacklist thing you said is definitely not a rule. Companies want talent, they don’t care if you reneged on them years back as long as you have something to offer them and you gave them a reason/courtesy. These are multi billion dollar corporations - they don’t get butthurt and it’s unlikely the same person who recruited you now will be many years down the line if you apply again to that same firm. In addition, there are many other companies you can apply to as well. Id say the best time to pursue your own venture is directly out of college. I also know someone else who reneged a ft offer to an EB, and 3 years later she joined that same EB in the same location.
I think it’s a little different to renege to do your own thing vs renege to join a direct competitor.
Omnis est voluptas tempore labore ipsam dolores. Minima enim quam amet repellendus sit.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...