Advice on reneging on a FT offer

I've been working part-time in Derivatives at a British bank (think UBS, Barclays) for about a year (FT over the summer, back to part-time now) and was given a return offer about a month ago that I accepted since the pay was good and I hadn't had any luck at that point with recruiting for full-time roles. However, I recently got a formal offer from a top quant HF (think 2sigma, citadel) that I had applied to before accepting the offer, and that was my dream company to work for when I had started my master's degree. My question now is how to approach this tactfully, as I want to work at the HF while burning as few bridges as possible and not screwing over the team that I had been/am working with. I feel that the latter is more in line with what I want to do, but am worried because of some of the horror stories that I've heard from people who have reneged on offers. Would it be a good idea to try and delay the start at the HF so that I could start at the bank and then leave after a few months (which is common in banking in any case)? Should I back out and quit as soon as possible? Should I back out of the offer but offer to stay on the team until I graduate? I appreciate any thoughts.

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Comments (6)

Sep 30, 2021 - 9:38pm

u were just an intern, nobody cares if u renege. dont overthink it

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Oct 8, 2021 - 8:30am

Honestly if you feel that the quant offer is what you actually want, then just take it and don't look back. You're probably not screwing your team over as much as you think given the talent pool available to them in the long term. Reneging won't be an easy task and you will definitely burn bridges there but it's much easier reneging on a bank for a fund than it is reneging for another bank.

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Oct 8, 2021 - 5:10pm

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