Reneging PE Offer (to stay in banking) - Thoughts?

Title says it all. Considering reneging a PE offer with a large, well known PE firm to stay in banking.

Interested in an upstart bank / group where I will be able to take on a lot of responsibility.

How bad of an idea is this??

Thanks.

12 Comments
 

After you're established, yes (read anything by Steve Schwarzman to understand). However, this early in your career you're essentially worthless. To make a move this early is foolish. You have a slim chance of success, but the downside is far worse.

Also, the sissy attitude comment is hilarious. My very first professional job was a startup and my name is still on the wall to this day. Cheers

 

Any thoughts on the risk of reneging? How pissed will they be? I would be a tiny cog in the machine and I’m sure they’d be able to find someone to fill my spot.

I do not see myself working in PE long term. What I can see myself is working in the industry that this particular bank focuses on - not working at an actual company per se, but working on transactions in the industry.

Personally I just don’t see how I will set myself apart in PE. However, I can envision setting myself apart in an advisor role at this particular bank / in this particular industry.

 

This context changes things quite a bit. Honestly, going for what you see yourself doing long-term is always the best bet. But why not do PE with this sector focus? I wouldn't shy away from PE if you think it will be easier to make a name for yourself as a banker. It's going to be tough either way. If being an investor isn't interesting to you, then going the advisory path is a slam dunk.

The only thing I would advise you on is this. If you decide to reneg on the PE offer, give them a little context. Let them know exactly what you've told us here and I think any reasonable professional will not hold that against you.

 

Thank you for the advice. I realize that both paths are incredibly difficult to make it to the top (any role in finance is).

I just don't see how I will be any better at investing than the next guy. I was able to get the PE on-cycle (i.e. ~2 months after hitting the desk full time...) because I present well and had an interesting deal to talk about that was pure luck of the draw as to why I was staffed on it.

After 1.5 years into the job though, I genuinely think I am cut out for this particular industry in banking.

Further, the PE job, while it is not a 2 years and out type of program, I really do not see myself choosing to do it for more than 2 years. I already see myself trying to switch back into this particular industry of banking once I've done the PE thing for a couple years.

While I understand that PE can help you build a network - is it really worth 2 years of time when you could instead use that time building transaction experience

 

Minus et omnis ea enim tenetur dicta. Et debitis velit sed et beatae facilis vel sed. Officia quia distinctio provident suscipit dolorem doloremque deserunt.

Sed dolor saepe culpa. Occaecati magni aut numquam delectus rerum. Vel repellat nihil omnis nostrum officia dolor labore. Et non earum nam ducimus voluptas dolor. Non consequatur ut at aut necessitatibus ipsam at. Consectetur voluptatum iure possimus ut. Praesentium eaque et a qui.

Career Advancement Opportunities

July 2026 Private Equity

  • The Riverside Company 99.6%
  • Blackstone Group 99.3%
  • KKR (Kohlberg Kravis Roberts) 98.9%
  • Warburg Pincus 98.5%
  • Vista Equity Partners 98.1%

Overall Employee Satisfaction

July 2026 Private Equity

  • Blackstone Group 99.6%
  • KKR (Kohlberg Kravis Roberts) 99.2%
  • The Riverside Company 98.9%
  • Ardian 98.5%
  • Starwood Capital Group 98.1%

Professional Growth Opportunities

July 2026 Private Equity

  • Bain Capital 99.6%
  • The Riverside Company 99.3%
  • Blackstone Group 98.9%
  • Starwood Capital Group 98.5%
  • KKR (Kohlberg Kravis Roberts) 98.1%

Total Avg Compensation

July 2026 Private Equity

  • Principal (9) $653
  • Director/MD (24) $547
  • Vice President (99) $363
  • 3rd+ Year Associate (104) $281
  • 2nd Year Associate (235) $272
  • 1st Year Associate (411) $229
  • 3rd+ Year Analyst (33) $157
  • 2nd Year Analyst (97) $134
  • 1st Year Analyst (272) $124
  • Intern/Summer Associate (38) $81
  • Intern/Summer Analyst (355) $61
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
GameTheory's picture
GameTheory
98.9
6
Betsy Massar's picture
Betsy Massar
98.9
7
DrApeman's picture
DrApeman
98.9
8
dosk17's picture
dosk17
98.9
9
CompBanker's picture
CompBanker
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”