I'm in a peculiar situation because of recruiting being pushed up so much for IB. I'm a second year at a target and this summer I will be interning at a Private Equity firm. Today, I got an IB Summer Analyst offer for the Summer of 2019 at a BB. They have given me ten days to accept. Because I maxed out my courseload and high school AP credits, I have the opportunity to graduate in 3 years rather than the 4 years. The PE firm I'm working at this summer understands this and have agreed to consider me for Full time employment at the end of the summer. I personally would love to work straight in PE rather than going through IB. If the PE firm offers me a FT offer, I was planning on graduating early and starting in the Summer of 2019. If the PE offer doesn't offer me a FT offer, I was planning on staying the extra year in college by taking an elective or something and working at the IB internship the summer of 2019.
Basically my question is, if the PE firm offers me a FT offer, can I renege my internship offer at the BB? Will there be repercussions in the long run?