Accepting another SA offer as a backup

I have an SA offer at an EB which I have signed--perfect location, industry, etc. I have another offer outstanding at a very low-tier bank on the opposite side of the country which I did not get through OCR or alumni--nothing is keeping me there. I'm thinking about accepting this low-tier bank as a backup. 

The logic is that anything can happen over the next 13 months. People can get screwed because their offer was reneged, and I don't want that to happen to me. 

Comments (13)

  • Investment Manager in HF - Other
May 1, 2022 - 6:24pm

This is a bad idea. The upside is extremely limited, the downside is bad. People continue to disregard risk vs reward. 

I agree with what the other person said about the risk. The chances that an EB pulls your offer and conditions are only bad for them is low. You are risking really pissing people off. Don't do it. 

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  • Prospect in IB-M&A
May 1, 2022 - 5:41pm

Seems like a very bad idea.

What is the upside? That in the event something happens to your EB offer, you'll have this lower tier backup? Let me ask you -- how often on this site, or anywhere, have you read about an offer from an EB or mid/top BB being rescinded (unless it's for grades/disciplinary reason)? I don't think that ever happens. What, you think the EB's going to go out of business?

But what if EB finds out you accepted another offer? Or other bank gets pissed when you renege, and wants to raise stink about it, EB finds out and decides you're a person of bad character? 

I've just never heard of person keeping a backup offer. Seems totally unnecessary, and will provide no realistic upside with a much greater potential for downside. 

Surprised your being so casual about reneging when it's totally unnecessary. 

May 1, 2022 - 5:43pm
Masked_Mantra, what's your opinion? Comment below:

I oscillate between this attitude and the one of the guy above that says "do it. do what's best for you". Sometimes I'm like you and sometimes I'm like him. 

Thanks for your input

May 3, 2022 - 3:00am
Kevin25, what's your opinion? Comment below:

do what's best for you = don't take "backup offer" because you'll put your career in danger which is not good for you.

May 1, 2022 - 6:28pm
Mifid2, what's your opinion? Comment below:

Wouldn't do it. IB is a small world. MDs know each other at many firms as folks bounce around. Never know who you'll work with over next 30 years.

Also, reputable EBs do not renege on SA. They have relationships with schools and alumni and they want this pipeline for the future. Would be insanely short sighted for an EB to renege on an SA. Maybe they would if they heard a candidate accepted two offers but not sure.

  • Associate 1 in CorpDev
May 1, 2022 - 6:45pm

One of the stupidest ideas I've seen come from a Prospect when it come to internships and recruiting. 

  • Associate 3 in IB-M&A
May 1, 2022 - 6:46pm

Do not do this. Your EB may very well pull the offer if they find out... IB is a very small world and this could definitely get back to your EB even from a "low-tier" bank 

Also, as said above, unless you have a felony or lied about your GPA or something similar, your EB is not going to just randomly fire you. Even in the mess of 2020/covid, no EBs/BBs reneged on any offers. The bank will only renege if you don't pass the background check or if you do precisely this accepting two offers.

May 3, 2022 - 10:24am
dafftt, what's your opinion? Comment below:

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