Reneging SA offer. Tell Bank #2 or not?
After accepting an offer from bank #1, should I tell bank #2 that I have accepted an offer. If so, should I do this after each interview, or just after I've been given an offer?
If I keep it from them I feel like they could get really mad if they find out, ending up with both offers pulled.
If I do tell them, they may not like it, and drop me from the process immediately.
Wondering how I should approach this.
Either full send or no. If you’re dumb enough to tell bank B bank A gave you an offer you deserve to get both pulled
Got it. What if they explicitly ask? I did contact HR about accelerating, so they may ask if I declined or not.
Are the banks materially different? Don’t do this if one is 5 in league tables and the other is 7 or something. Lateraling from a good firm to another isn’t terribly difficult.
I don't have an offer yet from bank #2, but yes they are very different. Not sure how you'd rank them against each other because one is much smaller, but more respected in their niche. The reason I would reneg is to work in the specific vertical that I'm interested in, better location, better culture, and smaller brand name, but slightly more prestige. I agree with your point but I think SA roles can play a big part in career path as far as what coverage/vertical you're working in.
Do you have anyone at either firm who you are close with on a personal level? Someone who would weigh what’s best for you over what they ‘should’ say, if that makes sense…I wouldn’t get too hung up on the initial group thing, but I totally understand. I’ve seen 2nd+ year associates jump ship and switch coverage groups. Not sure if this is an anomaly from the state of headcount situations at banks right now, but in any case it is doable, in my opinion.
Not really, I've had networking calls with people from both firms, but not a close relationship. I have 2-3 first rounds lined up, so bank #2 isn't my only option to reneg. And then I have relationships with people at banks that are recruiting later in the summer and fall that would most likely lead to first rounds. I'm confident that the offer I have is at a worse bank than the ones I would be interviewing for, after going through recruiting this year I'm just not confident enough in my interview skills that I'm willing to risk leaving the offer on the table.
very simple, if you get another offer that is better than the one you have, take it and renege.
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