Accepted EY Fso auditing offer but now have IB offer, what should I do?
Hi guys, just a quick intro of the problem I am facing.
I accepted EY auditing offer after my busy season internship in March this year. However I really want to do investment banking so I kept looking this semester for IB position and went to DB's super day last week. Today I got a call from DB that they are giving me the offer to start as their first year IB analyst next summer. Honestly this is my dream came true and down in my heart I know I will regret if I let this opportunity go.
But I also fear the consequence of simply letting EY know that I am declining the offer which I already accepted months ago. I feel like it's a huge ethical issue and definitely going to burn some bridges. But will I be in some kinda of legal trouble? Has anyone had this situation before? I would appreciate any help or suggestions on what the best course of actions here.
Renege on the EY offer. There really is nothing that they can do. If they ask for any explanation, just state that you received an offer at another firm that you feel is better for you. Do not mention DB. Congrats on the offer!
thanks man.
Turn it down. Call the the recruiter personally. Cite personal/ family reasons or decision to goto grad school. Don't mention DB at any cost. No one in their right mind would judge you for making this decision especially if they were in IB.
Also, Don't be the douche that updates their linkedin to incoming IBD analyst and wait till after a couple weeks in to your role to make any changes.
Awesome, thank you!
Kill the EY offer, no one will care.
I agree with the advice above to renege. I've reneged before, there generally aren't legal issues and EY recruits way too many people to care about you as one candidate anyway (and they have like what, 1 hr staff for every 150 candidates?)
I am curious as to how you made the jump from a big 4 auditing experience to IB offer though. Would really appreciate if you could share what you did in between the audit experience and your IBD offer, and whether or not you went to a target school. Thanks!
Always laugh when I hear people talking about stuff like this as being afraid of any ramifications.
You need to do what's best for YOU. Are you really going to pass on such an opportunity that YOU want and in which can set you up with a great path for future success because you're afraid to hurt the feelings of some HR worker and a couple other employees of a massive global firm? They'll probably care for about 30 seconds. Seriously it's a massive firm, it's still pretty early, if you told them like week before after they set up everything with HR then they'd be pissed but then again if it was a week i'd still tell you to do what's best for you.
To put it in terms of a simple example, imagine this was some MM firm you didn't want to be at and you chose to honor your offer acceptance with them over your dream EB gig. Fast forward 11 months, you've busted your ass and sacrificed basically a year of your life, but the markets crash and all business for the near future dries up. You might get a decent severance, but you might also be canned with a big goose egg. Either way you are out of a job. You think the MD that ran your group would care? Not one bit because in his mind, "he doesn't owe you shit."
I'm not trying to be cynical, but just keep that in mind because it is a pretty common attitude in this industry. Show loyalty where loyalty is shown, trust me EY will survive.
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