Situation: accepted an offer for a firm who I was a little hesitant on, but due to market conditions and whatnot I took the offer as I didn't know what other opportunities would arise. I have no intent on staying at this firm after the summer, so would have to re-recruit for my last year in undergrad. I recently received an offer from a top tier firm that I would love to stay at long term. Now I'm stuck trying to decide if reneging is the right thing to do, because obviously it's very frowned upon as a whole. The new firm I received an offer from would look great especially as I'm planning on getting an MBA in the next couple years, so experience can be essential for that. If I bail, the firm would have 3 months to find a replacement (not trying to justify my position).Any and all advice is appreciated, especially those who've been in the industry for a bit and can attest for how this will harm my reputation as a whole as I'm just getting started in the industry.
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Yes, bail on them.
Choose yourself! Just be honest, they will be annoyed but gotta do what is best.
I did the same years ago and employer i bailed on was understanding.
How many months in advance did you inform the firm that you reneged on?
1.5 months. It was mid March and internship was starting May 1st.
Some of the others are saying be to vague, i chose to be honest and called the hiring manager directly. Up to you, but i think honesty is the best policy in terms of protecting your reputation.
If you renege, be very quiet about it. Once your second offer is completely locked in (background check, everything solid), send a polite email to the first firm saying something along the lines of "I won't be able to participate in the summer analyst program." Don't give specifics like the other firm name. Don't update your LinkedIn at all for a good while and you should be fine. Don't give more information than you have to. It happens and it's to be expected with how early recruiting has been pushed. At the end of the day it's your career and you don't need to stick it out working somewhere you don't want to, especially with a better alternative.
I think you should be fine. Maybe others have differing opinions, but for me I don’t see this being a huge issue especially since you’re a summer analyst. In the end they are going to want interns who are wanting to come back to get a full time offer and if your plan is to leave anyway, give them the chance to recruit someone who wants that spot you have.
Choose what's best for you every time. The firm wouldn't think twice about laying you off whenever they wanted so you should just prioritize yourself.
I reneged my summer analyst spot for another better firm around the same time as right now and it all worked out perfectly fine. I made some excuse about how I needed to stay home to attend family situations etc for that summer.
Tips: Wait until you sign, hear confirmation, and pass all necessary checks. Do everything over email with your old firm, do not call. Do not update your LinkedIn or tell anyone in the industry anything until you are sitting at your desk on the first day.
Good luck!
How did they respond to you reneging? Was it multiple emails back and forth, or did they just accept it and move on?
Accepted it and moved on. Asked for the reason and I told them what I said above and that was it. This was a big firm too. May differ from firm to firm thoigh, especially if you’ve made good connections with those people
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