Hi!
Currently I'm in an summer internship in trading at a BB and right after I will start an off-cycle internship with another BB in IBD.
My question is, if I get an offer after the summer internship and I sign it can I later on reject it if I like the other job more (and I get an offer for that one as well)?
Thanks!
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Yes but the other company will not be happy and you might run into some problems with your career center. But in the end it's your life
So, I am struggling to word this properly. But to say the least this would be a risky thing to do. I worked in BO IB for a year, and I had a roommate that was in ER. Between that experience, talking to him, and lurking on here, there is one clear message. The street is small. People in IB hold grudges. You don't know who you're fucking, and who he has connections with. Some guy might have to drag his ass out to recruit because they don't have an analyst when they thought they had that issue shored up. He will know your name. Also, I assume that this kind of thing happening is infrequent. Because of that, it is likely that most of the people within the group you would have entered will know your name. Certainly, not the whole IB FO because they're just too big. But on the same token, HR is probably going to put a big fat do not hire beside your name for future opportunities, for any group.
I sympathize and good luck. I just want to emphasize that this is not a decision to take lightly. It may not have any effect on your career, but it is possible that it might. You really need to reach out to someone at a higher up position and ask him about something like this and the long-term repercussions. Preferably an alumni of your school that doesn't work at either of the places you are caught between.
Rejecting an accepted Intern Offer (Originally Posted: 05/11/2015)
I need some help with this decision. I accepted an internship at a big Investment Bank(company A) for the summer. However, now I have a another offer from an investment manager which I would like to take. What would be the consequences of rejecting the offer of company A (the contract states the employment is "at will")? Will it affect my chances of Full-time offers at other big banks or hedge funds(besides company A)?
Thanks for the Help!
Just curious, why on earth would you do that?
km190, I accepted the offer from company A when I was not getting other interviews for jobs I liked. I am currently more interested in getting into investment management and want to give it a shot with company B(the new offer). Hence, I am evaluating the consequences of rejecting company A`s accepted offer. Thanks!
Use the search bar. Banks are used to people reneging. You'll most likely burn your bridge with that bank in short term.
http://www.wallstreetoasis.com/forums/7-tips-on-reneging
Read through that and it should help you.
I recently went through something similar with FT offers and decided that reneging was the right choice. Only you can make the decision about whether it is the right thing to do.
Reject signed offer and go to another firm? (Originally Posted: 10/06/2010)
So I got the offer from major BB (think GS,MS..) for OPS analyst program. Due to lack of other options and the deadline I decided to take it and already signed the paperwork. I'm glad to have a job, be in the major analyst program hoping to move/transfer internally, however I just got an invite for interviews on campus with other firms for a better positions (ex. credit risk..)
The question is, do you still interview with a signed offer?! What if you get another, better offer?!
I'm skeptical, my friend is pushing me to go for it, but obviously it's not professional and I'm afraid of consequences...suggestions? It's just tempting..
Thanks!
Of course. Go for it! If you don't have the job offer you want, get your ass into all the interviews you possibly can. Sure reneging may be unethical, but worry about that after you get the other job offers! And look at this way, if something happened and your position/dept. was cut due to some administrative decision, you would get the axe right away. No one will feel sorry or give a shit about a contract you signed.
stop fukin around and go to work as ops analyst. That one u HAVE already. Other position you may or u may not.
blonde in bed is better than 10 in phone
do it. its only ops. if you left for a better opportunity they would probably understand.
Do it, but only burn that bridge for something FO. You are in a rotational program at a good bank. If you renig for a risk position you will be hurting yourself IMO.
This is to everyone. Banks or any company could give two shits about you. Always and I mean always look out for your best interest. You think any of these banks would think twice about pulling your signed offer if the economy took a shit? Hell no. Only person you owe anything to is your mom, fuck everyone else.
Not your old man too? haha +1 for you
Definitely agree here. You need to look out for #1.
What makes things slightly complicated is the fact that they offered me an early start (due to my mid year graduation) and recruiters and alumna extended their help throughout the whole process of interviews etc. Ops is NOT on my target, but the offer is surprisingly great and I dont want to burn bridge with this great BB as I loved the place before and feel there are many opportunities...I would love to stay there and develop my long term career. They have strong financials and great reputation..My 1st plan was to go through the program and after a year or so, start the process of moving to different role.
Thanks for the feedback!!
Pursue something other than ops. You will regret it.
If you want to do Ops than stay put, if you want to work in the FO than go for more interviews. Burning one bridge with a company who can fill your slot with one phone call isn't going to matter if you get the position you really want. It is a risk, but a small one and the reward more than justifies it.
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