Reneging on offer

Question

Was a S&T intern this summer. Now I have a standard FT Analyst offer on the trading side (and will probably start being allowed to trade 6mo-1yr after starting). Yet I really want to be (a) working with a different product that requires a more quantitative skillset and (b) on the buyside.

I am recruiting for quant firms and macro HFs now ... know this has been posted before, but any input on the ethics and practicalities of signing and offer and then reneging?

VIX-y Normous · Accepted Answer

I'll play the role as the tough love commenter:

You have no idea what you really like, you have a job lined up that most others dream of and are finding it impossible to find in a choppy market, and you're going into a new role with a foot already out the door in a lucrative volatile market which is a gigantic mistake. Grab the bull by the horns, use the opportunity to learn and connect, see what you like and don't like, and go from there. Wanting to leave for greener pastures isnt relevant because you havent been on one to jump from, and it comes off as humble bragging a bit.

Mr. T · Answer

I reneged on an accepted offer right out of college. The short answer is nobody will care. You're an entry level employee there's more than enough of you to go around and the firm that extended you an offer didn't lose any sleep denying the hundreds of other applicants trust me. You'll most likely be wished well and that's that. Just be sure to call your hiring manger/HR/etc. as soon as you have your other offer in the role you really want accepted/signed. Do not ghost them and just not show up because then they will care.

chong1402 · Answer

Definitely a case by case basis on what could happen. Overall, you're more than likely going to be fine if you renege, especially if you're going to the buyside. Would be more problematic if you're simply trying to go to another bank across the street.

I imagine you should be prepared for questions surrounding it, because in interviews they're going to ask about a return offer. It would be ideal if you simply say yes you have one and the questions stop there, but there's a chance they look further into it, or try verifying it via a contact they have at where you interned.

+17	Fell in love with Asia on holiday, now I want to move my S&T career to HK/Singapore. Thoughts??	7	15h
+10	Is 0->Offer in 6 months delusional post-grad	2	1d
+9	Starting career in Fixed Income S&T at JPM/GS Dubai — what's it actually like?	4	3d
+2	ERCOT: Is there a submission-time price validation cap on DAM Energy Bids.	0	5h

1	redever	99.2
2	Secyh62	99.0
3	kanon	99.0
4	BankonBanking	99.0
5	DrApeman	98.9
6	GameTheory	98.9
7	CompBanker	98.9
8	dosk17	98.9
9	Betsy Massar	98.9
10	Mimbs	98.8

Elite Career Bootcamp. Top Job Offer Guaranteed.

Elite Career Bootcamp. Top Job Offer Guaranteed.

Reneging on offer

Elite Career Bootcamp. Top Job Offer Guaranteed.

Elite Career Bootcamp. Top Job Offer Guaranteed.

Reneging on offer

Trending Content - Sales and Trading Forum