Is it possible to renege a PE offer?
Don't see this talked about much, obviously its looked down upon, but if you sign a 2024 offer and an immediate start opportunity pops up that is better, can / would you take it?
Trending Content - Private Equity Forum
Career Resources
Bump
I mean, they’re not going to take you out back and shoot you. You’ll burn a bridge, but it’s not like there would be any repercussions beyond that
Personally wouldn't do this, especially if both funds are in NYC. PE is a really small world... it's one thing in IB when you're a college kid and if the firms are really different, but unless it's a LMM fund in a regional city for a MF in NY I would be ready for your reputation to take a hit
PE is not indentured servitude, but unless there are unique mitigating circumstances (I.e. you need to be in a different city to be close to a sick family member), this sounds like a one way door decision to me that may have consequences if you look for another job in the future. Headhunters look bad when this happens and usually have clawbacks, so that bridge is likely burned. Personally, I would rather someone back out if they aren’t enthusiastic about the role so I don’t waste my time training someone who is going to leave, but it still looks bad to future employers (and yes, a huge percentage of the industry is one degree of separation).
Yea do it. But don’t renege on the PE offer to early. Give this place a try and if you don‘t like it you still have the PE offer in a year to look forward to
This is terrible advice. Be honest with both firms. Accepting another offer and not communicating that to the original firm is a good way to lose both jobs.
This is just one person’s opinion so please take it with a grain of salt. I think this forum and this industry aggressively talk up this notion of loyalty, how your reputation can extend far, etc. While I completely agree with that general principle, make sure you do things thoughtfully and don’t be reckless in how you act, I think the industry is also one that is frequently about going for the best things. Your managers are all people who at one point in time had a choice between jobs or encountered a situation like yours. At the end of the day, yes there are consequences that come with any choice but also it’s your career. If you felt confident that the new opportunity is meaningfully better I would argue it might be worth the “hit” which you can effectively think of as the cost of trading up, if that is what you think the new opportunity is. As one stereotypical example, let’s say you have a small fund gig lined up but now you get an offer to join Blackstone. I think it is a credible argument to make that Blackstone is better than the smaller fund, maybe it buys you optionally or idk what you’re after. Point being, if the difference in the two opportunities is minimal then you’re probably better off honoring your current commitment. But if you believe the new opportunity is better, in 20 years no one will remember when you dipped out of your current offer, but you may live with some regret of not having explored the new role.
Ad rerum molestiae atque quasi omnis minima itaque. Rerum aliquam atque ut. Dolores voluptatem culpa est et. Porro est ducimus saepe perspiciatis. Exercitationem sed recusandae quibusdam sit et maiores. Ea aspernatur et ullam nam sed repellat.
Sint maiores qui temporibus enim eius voluptas. Sit vel rerum voluptate magni. Ducimus eligendi provident totam error adipisci vel animi dicta.
Consequuntur ut velit ex praesentium adipisci. Qui vel nisi non quae.
Consequatur blanditiis ipsam explicabo quia. Quia sunt cupiditate odio deleniti harum quas sequi. In iure non quia. Assumenda voluptatum occaecati vel sit. Tempora fuga eum exercitationem mollitia qui quia. Asperiores dolore velit quia perferendis molestiae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...