Urgent Renege Advice

I recently completed a spring internship with boutique Bank A. After the spring internship concluded, I accepted an offer to return for the summer. Now, a month later, I just received and accepted a much better internship with Bank B. This is a significantly better opportunity. Do I renege with Bank A before or after the background check with Bank B? Will Bank A tell Bank B during the background check that I signed on with them for the summer if I dont renege prior to the background check. If I do renege and then complete the background check for Bank B after, will Bank A tell them I reneged. Please advise as soon as possible. Are background checks just to verify employment or will they dig further into this? 

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Comments (9)

  • Analyst 1 in AM - Equities
Mar 31, 2021 - 1:30pm

Renege, after you are 100% sure that you are fully confirmed and good to go bank B. Also, don't put bank B on your LinkedIn or tell Bank A where you are going. They will rightfully be pissed, and may try and get bank B to backfire. So on your LinkedIn or any social media, don't show any indication that you are associated with bank B. 

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  • Prospect in IB - Gen
Mar 31, 2021 - 1:33pm

thank you. I have already accepted the offer with Bank B. My concern is when Bank B completes their background check and confirms my previous employement with Bank A, then Bank A will be made aware that I am taking an internship somewhere else before hearing it from me. This may cause a problem in the background check and lead Bank B to rescinding the offer.

  • Prospect in IB - Gen
Apr 1, 2021 - 1:16pm

I think you should renege at the place you already worked before Bank B conducts the background check. That way when they confirm your employment, Bank A will not mention you are still coming on for the summer. 

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