Do I reneg for an IB internship?

I'm a sophomore.

Option 1: Already accepted a corporate banking role at a bulge bracket. It is in a regional office. I am from there, so I would save a lot on rent by being with my parents. 

Option 2: Foreign bank that is very small in the US but a bigger deal in Europe. NY role where I would have some exposure to IB. It is growing, supposedly, and it is true banking (levfin, M&A, DCM, & ECM). 

Option 3: Sit on my already accepted offer and wait for something else to come in, like UBS's sophomore analyst position (and reneg only if I get something incredible like that).


I don't entirely know what I want to do in my future. CB seems cool b/c the work-life balance and the pay, but I want to keep my options open. For that reason I'm looking to IB--I have options. 

I have already submitted some SA 2023 apps, namely to RBC (I can't believe they open so early!), and to some sophomore insight programs (not as big a deal). I told my school's career office I would be taking the CB offer, but I didn't get it through them and I only went to them when asking for advice on whether to take it. 

Obviously I don't want to get blacklisted from a bulge bracket, but I don't really care about offending the company as an entity. I do care about the people who decided to take me as their intern--they seem nice! The last people I want to offend are the career services people at my school. 


So, which option do I follow? If I had to decide right now I would stick with the CB, but I am leaning towards the foreign bank as it is true IB. Share your thoughts.

 

Et ut at quo non aut iste culpa. Delectus qui velit debitis id quam voluptate. Nemo voluptatem delectus harum in illum impedit dolorum. Aspernatur voluptates ab eligendi voluptatem. Quia esse vitae illo enim alias.

Quas et rerum ut excepturi. Voluptatem occaecati dolor provident voluptates enim. Quo eius quis modi dolore repellat vel sunt et. Deleniti impedit rerum accusamus repellendus cupiditate laboriosam dolorem. Quas voluptatem reiciendis sunt est quod harum ipsam.

Eveniet eos maiores alias voluptatem quos sit aut. Accusamus error dolor id voluptate et. Occaecati quia sed animi. Ut eligendi reprehenderit cum maiores hic dolorem repudiandae.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

June 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Perella Weinberg Partners New 98.9%
  • Lazard Freres 01 98.3%
  • Harris Williams & Co. 24 97.7%
  • Goldman Sachs 16 97.1%

Overall Employee Satisfaction

June 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.9%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 05 97.7%
  • Moelis & Company 01 97.1%

Professional Growth Opportunities

June 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Perella Weinberg Partners 18 98.3%
  • Goldman Sachs 16 97.7%
  • Moelis & Company 05 97.1%

Total Avg Compensation

June 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (21) $373
  • Associates (92) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (68) $168
  • 1st Year Analyst (206) $159
  • Intern/Summer Analyst (148) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
CompBanker's picture
CompBanker
98.9
8
kanon's picture
kanon
98.9
9
numi's picture
numi
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”