It's my turn now to be an arsehole :)

Hello everybody, do you have any advice for a prospective monkey here ;) (Genghis Khan, I would really hope to hear from you, among others).

I am finding myself in an awkward situation. I accepted an IBD FT analyst offer, but after hearing all these talks about layoffs, I sent out my resume to a couple of PE shops and got an interview. I got past the first round. I didn't reveal during the first round that I had accepted an IBD offer even though they asked who I am interviewing with. I am also quite interested in this PE opportunity but not 100% sure I will accept their offer even if they give it to me.

I am getting worried on a couple of fronts:

(a) Should I tell the PE shop during the second round that I have accepted an IBD offer? This question will definitely come up again. Note that I did not summer at that particular BB which I accepted the FT offer from, so it's not as if the PE shop can easily find out that I reneged from a background check. I guess I just don't have the guts to play this two-timing game to the very end.

(b) this PE shop did a job posting with my school's careers service, although the interviews are off campus and not organized by careers service. I am concerned that careers service will somehow find out I am two-timing (they know I had a FT IBD offer) and make a huge fuss out of it (as in, tell either side of my two timing). Is this a real risk or am I just being a worrier? careers service at my school are filled with morons who gang up with employers to bully students, by the way.

Lastly, to those who want to condemn me for reneging, please go ahead. I don't feel guilty at all - not one bit. Look at how they revoked/laid off some of the monkeys on this board. Honor's a two way street. The banks didn't keep faith with us, why should we keep faith with them? I just want to handle the situation well so that I don't burn too many bridges and come out of it all with a good deal.