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The worst that I can see happening is you might not be able to work at that V30 for a few years. Turnover is insane right now (and nobody seems to care to fix it), so the folks you "piss off" (which probably they won't even care) likely won't even be there should you be in the lateral market in a few years.stressedmuch wrote: ↑Sat Oct 02, 2021 12:02 amI received a 3L offer at a V30, which I ended up accepting due to its deadline. I recently ended up receiving another offer from a V10, which I am tempted to take. How bad is it to renege the 3L offer that I just accepted?
Agree with all the above.Anonymous User wrote: ↑Sat Oct 02, 2021 11:50 amNo need to tell the first firm where you’re going. That’s not their business.
I agree it is weird that OP continued to interview after accepting an offer (unless the exploding offer came with a tight deadline), but there could be some very real differences between the two firms (e.g., practice groups or personalities), regardless of pay or Vault.Anonymous User wrote: ↑Mon Oct 04, 2021 7:29 amI also don't agree with the growing CW that you should renege. Mainly because here I don't see a pressing need to. You had a market paying, V30 offer. Yet you still continued interviewing, why? Is the glitter of the V10 so much better? I canceled my interviews once I accepted an offer. I thought that was standard.
And while it's true that firms do occasionally Latham people, it's also true that the reputation follows them.
Why do you think the new firm would care? The market is insanely hot right now. Firms really love to cultivate the impression that loyalty is important and that you owe them something for extending you an offer, or at least most firms don't to anything to dispel that false notion. It is something you have to actively reject. Because I promise no partner will every be sitting around a table questioning whehter loyalty is enough to keep you employed when work has dried up or if they otherwise don't like you. Partners at the old firm may be sad to have lost you, or irritated at the situation in general, but at the end of the day they understand and they would do the same thing--and indeed they do, lateralling all the time after promising their fellow partners that they won't.stressedmuch wrote: ↑Sat Oct 02, 2021 8:23 pmi am not sure. i feel like the new firm would def care but they're in two diff locations albeit same state.
This all the way. Notwithstanding that we need more info to make a call on V10 vs. V30 (what practice group, location, etc.), the notion that there would be blowback for reneging is almost entirely wrong. If the V10 is better choice, then just do it.Pneumonia wrote: ↑Tue Oct 05, 2021 11:57 amWhy do you think the new firm would care? The market is insanely hot right now. Firms really love to cultivate the impression that loyalty is important and that you owe them something for extending you an offer, or at least most firms don't to anything to dispel that false notion. It is something you have to actively reject. Because I promise no partner will every be sitting around a table questioning whehter loyalty is enough to keep you employed when work has dried up or if they otherwise don't like you. Partners at the old firm may be sad to have lost you, or irritated at the situation in general, but at the end of the day they understand and they would do the same thing--and indeed they do, lateralling all the time after promising their fellow partners that they won't.stressedmuch wrote: ↑Sat Oct 02, 2021 8:23 pmi am not sure. i feel like the new firm would def care but they're in two diff locations albeit same state.
"Reneging" on an offer in these circumstances is basically doing a pre-employment lateral, and of course lateraling is common and accepted. If anything, the old firm would prefer you leave now rather than 6 or 12 months in. This timing at least gives them a chance to look for someone else.
Do your best not to burn the bridge with the old firm and you'll be fine. Anyone lawyer trying to tarnish your reputation on the basis that you reneged on an offer would be laughed at to be honest. That just isn't how it works. As long as you do your best to communicate clearly, no harm done. You may even find the old firm targeting you to lateral in a few years. That happens all the time.
ALSO--from your post it appears that you did not even summer at this firm, in which case the answer here is even easier. You owe the old firm absolutely nothing. They tried to hire you, but you got a better offer 12+ months before you would even begin. Reneging qua reneging should play no role in your decision (although I agree with the previous poster that not every v10 gig is automatically better than every v30 gig).
I don't want to out myself, but enough to make me consider switching haha. Any advice?Anonymous User wrote: ↑Sat Nov 06, 2021 11:36 amWoah - what kind of signing bonus did you get as a 3L?
Wow. Unprecedented. Congrats. What's the firm V range?Anonymous User wrote: ↑Sat Nov 06, 2021 5:34 pmI don't want to out myself, but enough to make me consider switching haha. Any advice?Anonymous User wrote: ↑Sat Nov 06, 2021 11:36 amWoah - what kind of signing bonus did you get as a 3L?
Just so I have this straight, you accepted a V10 offer where you were a summer associate, you then interviewed with another V10 firm that gave you an offer with a signing bonus, and now you want to leverage that into asking for more money from the first firm? Seems like a very high risk strategy. It’s unlikely the first firm will give you more money - how could they do that without giving more to your fellow summers who have accepted their offers too, which they’re not going to do. And while I don’t think they would pull your offer if you decide you want to go there anyway, there is a high likelihood that at a minimum you’ll rub some people the wrong way. You should decide whether the signing bonus is worth your reneging and joining the second firm. If so, do it - I agree with others in this thread that doing so is a relatively lower risk. If not, just stay with the first firm and don’t ask them for more money.Anonymous User wrote: ↑Sun Nov 07, 2021 2:10 amThanks, both are v10’s. Do you think there is a risk my original firm pulls that offer (which I’ve already accepted) or otherwise develops hard feelings that would be a detriment to me if I decide to go back there?
Yep, that's the picture. Is it any different if a class year bump is also on the table at the new firm? I didn't mention it at first to try to stay as anon as possible, but I have no idea what to do. If the first firm would just match the bump and not the bonus I'd definitely stay.enibs wrote: ↑Sun Nov 07, 2021 2:57 pmJust so I have this straight, you accepted a V10 offer where you were a summer associate, you then interviewed with another V10 firm that gave you an offer with a signing bonus, and now you want to leverage that into asking for more money from the first firm? Seems like a very high risk strategy. It’s unlikely the first firm will give you more money - how could they do that without giving more to your fellow summers who have accepted their offers too, which they’re not going to do. And while I don’t think they would pull your offer if you decide you want to go there anyway, there is a high likelihood that at a minimum you’ll rub some people the wrong way. You should decide whether the signing bonus is worth your reneging and joining the second firm. If so, do it - I agree with others in this thread that doing so is a relatively lower risk. If not, just stay with the first firm and don’t ask them for more money.Anonymous User wrote: ↑Sun Nov 07, 2021 2:10 amThanks, both are v10’s. Do you think there is a risk my original firm pulls that offer (which I’ve already accepted) or otherwise develops hard feelings that would be a detriment to me if I decide to go back there?
forgive my skepticism here but is it actually on the table. if it is you should just take it lmaoAnonymous User wrote: ↑Sun Nov 07, 2021 3:55 pmYep, that's the picture. Is it any different if a class year bump is also on the table at the new firm? I didn't mention it at first to try to stay as anon as possible, but I have no idea what to do. If the first firm would just match the bump and not the bonus I'd definitely stay.enibs wrote: ↑Sun Nov 07, 2021 2:57 pmJust so I have this straight, you accepted a V10 offer where you were a summer associate, you then interviewed with another V10 firm that gave you an offer with a signing bonus, and now you want to leverage that into asking for more money from the first firm? Seems like a very high risk strategy. It’s unlikely the first firm will give you more money - how could they do that without giving more to your fellow summers who have accepted their offers too, which they’re not going to do. And while I don’t think they would pull your offer if you decide you want to go there anyway, there is a high likelihood that at a minimum you’ll rub some people the wrong way. You should decide whether the signing bonus is worth your reneging and joining the second firm. If so, do it - I agree with others in this thread that doing so is a relatively lower risk. If not, just stay with the first firm and don’t ask them for more money.