Reneging on an offer?

How bad is this looked at? I have had accepted an offer for ~2 weeks but another offer came in (I did not continue recruiting, it was already in process). Is this something I can do? Should I discuss with the second company I received an offer for first? Separate markets, if that matters. Thanks in advance. 

Edit - I just want to add that these two positions would take me on 2 separate career paths, and I strongly want to go the path of the second offer. I'm a second year analyst and I believe it's time for me to make this move now rather than later. 

 

Renegging on an offer is bad, full stop. Your reputation is everything in this industry. You shouldn't have accepted the first offer to begin with if you wanted the second more and were still in the running for it. 

Still, given that they're in two different markets and two different career paths, there's no reason to be a martyr. Take the hit and do what's best for you, but know you messed up and learn from it. 

Edit: Go ahead and throw shit at this, 18 year olds. You'll learn. 

Commercial Real Estate Developer
 

So, it's not good, but better than leaving within 6 months or otherwise short period. If you really want the second offer, I'd take it. Will you ever get a shot at the first firm again, probably not, but memories can be shockingly short. 

My advice, I would tell the first firm that the main reason is you want to be in the other market (it's okay to embellish and blame on "personal factors", but don't outright lie). Shit happens, and easier to forgive if you are going to a firm in another market, especially if non direct competitor than if you say "sorry, your competitor firm just offered me $2k more so fuck off!". 

 
Most Helpful

100% go with the second firm.  You are only an excel line to them and I think it is important to remember that.  Pursue whatever you want.  Also, leave after 6 months if you want too.  There is no loyalty in the corporate world.  Every single one of us is paid less than we are worth, otherwise the firm wouldn't be enriching equity holders.  If they had a few deals blow up, they would reneg/fire you.  Save your commitment for your wife and kids and go get paid big man

 

In a similar spot, same industry and city. I have an offer from #1 and finished the process from #2. I really want #2 due to what I would focus on there and the brand it would give me vs #1. 

I am accepting #1's offer, but plan to reneg if I get #2 due to the pay which will be more and candidly the commute which is 10 mins vs an 1.5 hours+ each way.

Any way to reneg graciously, my start date after accepting the offer is soon and I feel it's a total dick move to reneg a few days before but I also have to do what's best for myself. Offer #2 is a institutional REIT in a 2nd tier city with billions in AUM and would be an amazing experience, offer #1 is a medium sized owner still great experience as an acquisitions analyst.

 

Renege and take the offer you want. You need to lookout for yourself. You haven’t started at the new firm yet, so really, not much damage done. And don’t worry about your reputation - 10 people at this firm you are reneging on will know you’ve done so, and promptly forget your name in 4 weeks. No one else will know. Take the job you want. Again, look out for yourself. 

 

Just tell them your circumstances have changed and you can no longer work for their company.  Keep if short and sweet, they probably won't ask for more detail.  You'll just be blackballed from working at that company in the future, but no one from that company is going to go around town telling their friends what a terrible person you are especially this early in your career when you're just a nobody.  

 

Enim est rerum sapiente. Eligendi sint omnis omnis omnis.

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