Can my FT (IB at BB) offer suddenly be rescinded?

Hi!

I have obtained an offer to come back next summer and wonder if there are any risks of my offer (maybe because of corona uncertainty) may be cancelled? It is one of the top BB banks (IBD) interned for their office in Europe.

Thanks a lot!

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Comments (16)

  • Intern in CorpFin
Sep 15, 2020 - 2:17am

Thanks for the input!

I have a placement analyst position before as well (as I wanted to start directly after my SA 2020). I assume that the only risk of my FT (starting 2021) would be fucked up is by fucking up my Placement position I have starting now? (Performed very well during my SA 2020)

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  • Consultant in Consulting
Sep 14, 2020 - 1:38pm

That sucks. You land somewhere else? And how was that process?  

Sep 14, 2020 - 1:41pm

Nope, been trying to network and find something for four months now. Have a very solid network but am still playing the waiting game. Starting to lose hope, and I really don't know what else to do. I really feel like there isn't much more I can do. The only positive that I have is that my resume is an A+ and some firms have said they would be willing to consider me for a lateral hire if things turn around in a few months. 

  • Consultant in Consulting
Sep 14, 2020 - 1:50pm

Shit, sorry to hear that. Positive is that you DID receive an offer... so you don't have that stigma. Was this in NYC, or other city? Such BS that they did you like that. I mean, it's not like the firm shut down, right? They COULD have honored their commitment. They just chose not to. So wrong to screw you like that.  

Most Helpful
Sep 14, 2020 - 3:18pm

It was in a midwest city. It's a bank with a horrible reputation and is quite frequently bashed on in here (deservedly so). I was late into the game for getting into IB soph year so I unfortunately chose to settle. I agree that it's wrong to rescind any offers. My opinion on reneging offers has changed because of this. Before, I thought it was an integrity thing not to renege. Now, I realize everyone is only self-interested so I see no problem in it and wish I did. It's interesting how experiences like this change your beliefs. 

  • NA in IB-M&A
Sep 14, 2020 - 8:03pm

I mean... at BBs at least, very unlikely I'd say - even after the covid outbreak this year none of the incoming FT BB analyst's offers were rescinded 

  • Analyst 1 in CorpFin
Sep 15, 2020 - 4:46am

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