Just started New Job but better offer came in - what to do?
Just moved laterally from a MM bank to another MM bank and, literally in my first week at the new firm, I received an offer from a BB that I would obviously prefer.
Should I not proceed with the BB offer given that I just started with a new firm? Also, if I do move forward with the BB offer, should I disclose that I just started with a new bank (as this firm obviously wasn’t on my resume when I had applied as I was still with my prior bank throughout the interview process)?
If you want the BB, just take it. Going forward, I'd just leave the week or two of employment off your resume. It's not a big deal.
Three Options:
(1) Be transparent about it, call whichever associate or VP you've developed a rapport with at the BB firm, explain the situation and ask for the hiring MD's blessing. Certain firms will not entertain this (though some will), so be prepared to receive a "no thanks".
(2) Take the BB offer, and immediately resign from your current firm stating personal reasons, and if pushed you can say you want to dedicate your full time efforts to "starting an AI business". Try to delay your start at the BB firm as long as you reasonably can. Before you begin working at the BB, delete your LinkedIn profile for a year. When you rejoin LinkedIn, make it look as though you just joined the BB and then update it down the line to reflect the proper dates. If anyone ever questions you from your old shop, you can just say the AI opportunity didn't work out.
(3) Decline the BB offer stating that you appreciate the offer but feel that you owe your new shop at least a year. This could play well for you in the event the BB needs an analyst a year from now.
My recommendation would be to do #1 unless you believe that the BB is a massive step up. For example, moving from Piper Sandler/Stifel to MS/GS. If it's that big of a jump, I'd recommend Option #2. If it's William Blair to BOA, I'd recommend Option #1.
How long have you been at your current firm, the BB may be upset that you continued in the process without telling them the update.
Just leave. They'll yell at you for probably 10 mins, talk shit about you behind your back, but you'll be long gone by then and will probably never see most of those people again. The days of loyalty in this game are long gone. Be loyal to yourself.
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