Thoughts on accepting 2 offers incase a firm pulls theirs?
I guess I am kinda scarred from reading a ton of horror stories on here and being screwed over from banks in the past. But currently have an offer from a strong bank for IB and an offer for a worse bank for not in IB. Obviously I would prefer the stronger bank for IB, however they are not the most reliable bank and are pivoting away from their traditional IB business.
Therefore considering banks have pulled offers in the past and CS literally went bust, would it be sensible to hold onto the worse bank offer for a few more months as an insurance policy?
Obviously I know this is very bad practice but at the end of the day I want to put myself and my family first and I know banks wouldn't think twice about firing me in different circumstances.
Edit: I also don't plan on staying in the city/country I've recruited in long term so not as bothered about burning bridges etc.
Also I believe I am in a location where reneging is less of a big deal than the US for example as recruiting is less networking focused.
Now that you say it out loud, corporations have programmed employees such that reneging on a signed offer is reputation-damaging event.
However, they can give us a rejection after giving a verbal offer the day before. And even rescind their written offer whenever it fits them. (Read on diff thread that many people received rejection/rescinded emails, at least I got calls first)
As someone who has had both of these shit happened to me, we should normalize reneging on signed offers.
Have seen people whose offers rescinded after they quit their jobs and moved to new countries. Like tf is that allowed?
Yeah I agree. From browsing WSO it makes it seem like you'll screw your career if you renege on a firm but I've heard stories from friends where other people didn't turn up to their internships who were meant to.
Del, wso glitched.
Go for it. None of these companies would think twice if they wanted to rescind u
Is the stronger bank Citi? Yeah the news around them sucks right now but cutting the bottom 10% of a very bloated firm =/= pulling intern offers. They were one of the first to give all interns offers in 2020, their intern happiness/return acceptance rate is a big marketing thing so I would not be too worried with that offer.
I personally think it's in very bad form to do this... banks have rarely pulled offers in the past and CS had been circling the drain for a while.
Fair point but I guess I'm trying to weigh up the risk of pissing some people off vs v small chance of career getting fucked over by having no SA.
You can say that CS happening was unlikely but the fact is it did happen and worse happened in 08. I know some people who had CS SAs and they were crushed and conversion to UBS was not great at all. Given regional banking crisis last year and extended high rate environment its not off the table something like that happening again.
It's also not Citi btw
If this is what makes you sleep at night, go for it. My view is less about the banks, but rather that you are taking someone else's seat. It's basically a black swan event when they pull these offers... twice 15 years apart hardly means you should hold two offers just because of it.
Depends, what are the companies you have offers to?
Also suggest starting full time at 2 jobs, in case one lays you off, and having 2 girlfriends, in case one gets tired of your work schedule
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