Congratulations on your internship. The Interview Experience is a score from 1 star (very negative) to 5 stars (very positive) generated based on the Interview Insights at this company. Is there really a single person who takes corporate communications at face value? Occaecati sed ut sequi voluptas inventore saepe. I did let AM HR I had the BB offer and I was accepting. It depends a bit on your previous work experience. If I did IB for a summer and didnt like it but received a FT offer, and wanted to move to economic consulting, how risky would reneging be? I felt wronged and I sent a demanding email to my contact asking him to keep his promise, citing the fact that I already accepted the offer. Signed an FT offer at a BB for a specialized front office team Ipsa nam et et. However, I just do not know how should I tell the IB? Or should I tell them even if they dont ask me? This upside is significantly better if youre reneging on an offer in a different industry (e.g., Big 4 accounting) or youre reneging on a back office offer and moving to the front office. Also if the FT job starts (a few months) after the internship finishes, would it be okay to renege after (hopefully) receiving a FT offer from the bank? interested to know what you think. However, a position opened up at a Canadian IB and now Im at crossroads what are your thoughts on this? For example, I was at a east coast semi-target that sends about 40 students into IB through a dedicated IB club every year and it's blatantly obvious that the women/URMs get much better placements than the non-URMs and it isn't even close, after adjusting for candidate skill level. if so, will they rescind my offer? You can always keep in contact with people youve built solid rapport with throughout the process. I dont actually care that much about what my manager at the accounting firm thinks, because I want to get into the bank. Thanks! As long as you have evaluated the consequences of reneging an offer, and the pros and cons of IB vs law and youre comfortable w your decision, go w it. If you do decide to do the JPM Superday, its best to do it, tell them your situation upfront, see what happens, and then make a decision. Would love to hear your advice. You could, but its risky since all bulge brackets talk to each other. Or maybe Im just overthinking and EQD still gives you good edge to do something else next if I dont like it? I would renege on the Bulge Bracket that I interned at, but have a private equity offer at a middle market fund. You could, but theres definitely some risk there because its the same industry group and senior bankers will tend to know each other. I would recommend sticking with the elite boutique offer. The firm also didnt follow my schools recruiting policy and gave me an exploding offer when it is not supposed to. Et aspernatur quia dicta dolores blanditiis aut. Why would they want to stay in touch with me? Is reneging the same as rejecting? I really appreciated your answer to another question I posted, and could really use your help on this one too. Hi Nicole thank you for your reply! Im a non-target junior who managed to make it to a few Superdays but ending up not getting an offer at my top BB choice. Recently, I got a similar offer from a BB. Your email address will not be published. I can understand if you want to renege. Thoughts on how to go about reneging if that is your suggested course of action? We have coffee! Would a renege be worth it here, or should I just play it safe and potentially re-recruit next cycle for FT? Usually less of a big deal because lateral hiring is more random and unpredictable anyway, but it depends on the circumstances. also, i might get both offers rescinded if they find out. If you want to go through the interview Id just go through them and build connections. Im just really sad about the whole situation. Rejecting = you never accepted it, so you receive the offer and say no. I really like EB and would at least like to interview but I want to be honest. Do you think it would be best to message the Big5 recruiter and let them know I wont be able to go through the process for this semester, and I would love to be considered for Fall 2023 positions when they/if they open up with the bank, or just go through the interview process with them? This firm's investment strategy fit what I was looking for and the headhunter provided the introduction. The summer analyst one is notorious for not moving their starting or ending dates. Don't think for a second that the culture at APO has changed overnight because they built a coffee bar. but i recently got a FO offer (S&T) at a European MM bank and obivously i want to renege on my FO offer and take up the front office role. With the above being said, theres a risk that that firm may find out and call the other firm so just be prepared for this risk (not high but theres a chance that this may happen). 3 phone screens and a superday of 7 interviews consisting of mostly behavioral and one technical interview of a case study. The class was 55% women, 36% minorities, and 9% veterans. They would also point out that the upside when reneging is usually much less than you expect. All you can really do is ask the off-cycle one for a later start date. I wouldnt worry too much about it! I really cant make up my mind. Useful1. Either way they will not like you reneging your offer but you can try to mitigate the damage. In the span of a decade and a half, blackstone went from being a marquee private equity investor to having their hand in the pot of every single asset class out there that exists -- Vanilla PE, Infrastructure, Energy, Distressed Credit, Performing Credit, Direct Lending, Secondaries, Fund of Funds, Real Estate -- you name it, Blackstone has put together a team and raised a multibillion dollar fund for it in the last few years. I objectively listed the pros and cons of each position. Thanks very much! However, I also received an offer from an Elite Boutique firm. Id email and call the firm to apologize profusely and renege the offer. I ended up accepting my offer back but just got an offer from another bulge bracket guaranteeing me a coverage group. Ab aspernatur explicabo est voluptas quam. Also will the bank care that I had accepted a corp fin job before? Apologize and tell them you were grateful for the opportunity. The upside is also much better if youre reneging on one full-time offer and taking another one youll probably be there for at least a year or two, whereas with internships there are no guarantees. So I have recently accepted an Operations summer analyst role at a BB (Im a junior). Is it worth reneging in this case in your opinion ? After hearing many peoples different opinions, it seems as if NY is a better bet to start my career before moving out to HK afterwards. If you truly trust him/her then yes you can tell him that you signed with A. Maybe you have actual, legitimate personal or family circumstances that have led you into reneging on an offer they cant get annoyed at that, right? Assuming all else equal, do you think it would be better and safer to do my IB internship a different location? I currently have an offer from a european BB in Chicago in their industrials group and recently got an offer from a top BB in NYC in their FIG group (one of the best on the street). I also also had a superday with another bank in ny with a great group that I would rather be in, and they told me that I should sign my offer and reneg once I hear from them. Now (a few weeks later), I received an offer from my dream job with this Telecomms job. Can I renege on that offer? Hello. I accepted a corp fin internship offer a month ago but just got an offer for a banking internship. Plenty of people who otherwise wouldn't get a look in, take spots, whether at banks or funds or schools. Accountants rarely talk to bankers, but I would probably run it by the bank first and see what they say. Apollo Issues Shares in Merger 166m Apollo Share Price (Pre-Announcement 3/5/21) x $49.56 Consideration Value, gross $8.2bn Apollo Equity Held by Athene ($1.4bn) Apollo Stock Issuance, net $6.8bn Receive 100% of Athene Retirement Services Earnings $1.1bn Are my chances for a Summer Analyst role for next summer the same in both situations? If you do renege your offer, I wld suggest you to try to do so gracefully wo burning bridges! I took it out of fear that I cannot find something better, and I can continue looking. Both are internships. Dear Brian, How would the background check process work if you renege on a place where you summered at? Id tell the big4 audit firm that I cant work there anymore. Thanks for the reply Brian. 2 years is quite a long time I probably wouldnt do at this point. Internship with the potential conversion in the end. Apollo Global Management Interview Questions | Wall Street Home Company Database Apollo Global Management Interviews Apollo Global Management Interview Data 18 total interview insight submissions All data Get Prepared Case study of an office building in New York and how you value that and the debt leverage. Professional services rewards that total dedication in a way that ultimately results in fewer women in senior positions because so many choose to leave the business. Id like to think that MO and FO managers dont really tell each other about new hires (which is probably true for IBD I guess), but given the work proximity between risk management/trade support and S&T, Im concerned that reneging the risk mgmt offer might mean a black mark in S&T as well. However, if you plan to interview with the second firm, Id be very quiet and discrete and see where the interviewing process takes you. Hey Brian Makes sense. Appreciate your response! and how concepts are covered. If I do get a great counter offer and have yet to sign, no problems. Went back to another office visit a week after the 1st round. Realistically, how many women in the MBA PE age range (~27ish years old) would be that interested in working at a place like Apollo which is known for brutal hours? Was this interview insight helpful? I am cackling. Is it possible to go back to bank that you declined in the past, or would this be a lost cause? Why would you ever renege in that situation? Even though I didnt write down specific names of people, both banks were furious. 1) on the day to day job, make socialization less about expensive sports that some demographics (incl. If you want to take the 2nd offer, Id go back to the first group asap and tell them youve changed your mind. Could really use your advice here. Thanks in advance for your help! However, if you're evaluating widget factories, coal mines, or oil & gas properties, it probably doesn't matter if your team is 100% black or 100% Asian or 100% white. This summer Im interning at a management consulting firm, but Id like to make the jump to banking for full-time (i was planning to focus on financial institutions groups, as Ill have at least some background there). Yes, always network! I apologize, I noticed you answered AAs question, and it answered my question. I would let the asset management firm know first and see if theyre ok with it, then go to the ops internship people and explain that you have decided to pursue other opportunities. Challenging situation. Apollo's new motto: If you hover over the various sections of the doughnut, you will see the % breakdown of each score given. Theres a chance that bankers could call the consulting firm and remove your offer there. How should I handle the situation? Hey Brian, saw you answered similar questions but thought Id ask the entirety of my situation to get your take. My concern is that if the internship converts to FT I would prefer to stay on there itself, but that would involve reneging on the offer at the second tier bank. Im actually in IT, and am planning to move from a IBAB bank to the Telecomms industry (to a BB of that industry). This is definitely where I want to be, and the start dates for both jobs isnt until next July. But if you really want to do IB, you should network for IB roles and keep this offer as a backup plan. So maybe let the second bank know what youre doing first and then write a brief email to the first bank saying that you have decided to decline the offer because you won something in your desired location in NY. If so, then yes, you might have a problem. Why would they do such a "dumb" thing? Thanks So how do you think I should respond when the banker/HR people I call inquire into where I am going? If I do accept the offer from the BB, is it possible for the MM bank to call up the BB out of spite and tell them to cancel my offer? The risk of bad things happening is reduced if youre reneging on an offer in a different industry or from a significantly different firm (e.g. I was reading this, and I think its very well written. I would probably go to the VP first and then HR. 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