Reneging for a non IB job

Throughout recruiting my school always warned me of the harm you can do by reneging on an offer. Is this only in reference when going from bank to bank? An opportunity at a buyside firm has presented itself to me through some connections I've made. If I took this opportunity, deciding to not work for the BB I intended to, could it haunt my career or my university in future recruiting? Thanks all.

 

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