Accepting offer then choosing not to join
Curious , what are the implications of accepting an offer and then choosing to just not start? Not necessarily reneging on the offer for a different offer, but just deciding to continue recruiting for other opportunities?
Specifically , if you were to get an analyst position in an Investment role on the buyside but instead preferred to start out in Investment Banking since you prefer the optionality of future career paths? Would this still have long term implications from a career perspective?
If the opportunities were in different countries, would this change the situation?
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Search on google and WSO about "reneging", which is what this is called. It's a pretty frequently discussed topic
I searched the topic quite a bit and definitely got stressed from some of the stories. Mostly they were focussed on moving from one IB to another more better IB. I was wondering moreso, 1) if you don't have a second gig lined up how this would impact things and 2) if you are moving between two different sectors wanting to do IB/ECM/DCM/Lev FIn instead of starting out in an Investments role
So, reneging.
Yeah, i mean its pretty much renegging. I am not going to have anything lined up directly but I just think Idk starting on the buyside with no sell side experience might not be the move. Comp is pretty much in line with IB/potentially higher but more concerned about exits if i dont like it. Fund has an extremely specific mandate and just thinking as hard as it is might be best for me to just take the hit reneg and recruit.
Is it an automatic L if i do decide to go down this path? Also, potentially is it posible for an Analyst to recruit from buyside to go to the sell side again or will BB/EB/MM firms just think you are dumb?
Bump on buy side analyst back to sell side
Don’t worry. Offers don’t have legal power. Also, there is no a function on Bloomberg where you can see analysts who decided not to start job after accepting offer.
The only bad thing that will happen is that HR and head of division would put you on their “faggot” lists
Thanks man gives me some hope. So I guess screw it and just pull the trigger then. Is it a 100% expected that both the current firm (One i signed with) and any new company will find out and I'll be screwed?
Offers don't have legal power. Really? So nothing can happen to you if you renege?
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