Contract Termination

contract MBB
New answer on Apr 30, 2020
5 Answers
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Anonymous A asked on Mar 02, 2020

Dear Community,

I have a little struggle with my upcoming internships. I've already signed an internship contract with a T2 consulting firm. Nevertheless, this summer I have interviews with MBB. Due to my studies, there is no time left to do another internship. Friends of mine told me that it is possible to cancel the contract if the interviews will be successful. What do you think about this? To be honest, I would not feel comfortable to do this. What would be the consequences?

Thank you very much.

Best,

XXX

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Anonymous replied on Apr 30, 2020

Hi A,

how did your situation and considerations changed due to Covid?

Best,

André

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Anonymous A on May 11, 2020
Hey, the first MBB interview was not successful but I have another one in the upcoming month. Afterwards, I will decide but I have already signed the contract with the T2 company. IF the second interview will be successful, I might do both internships.... Best, A
Clara
Expert
Content Creator
replied on Mar 02, 2020
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

If your goal is MBB, I would totally go for it. You would be surprised of how many times these situations happens, since most candidates apply to absolutelly all consulting companies and get multiple offers.

For sure it´s not ideal, but you should not let the MBB opportunity pass by for this.

Hope it helps!

Cheers,

Clara

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Francesco
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replied on Mar 03, 2020
#1 Expert for Coaching Sessions (3.600+) | 1.300+ Reviews with 100% Recommendation Rate | Ex BCG | 8+ Years of Coaching

Hi Anonymous,

I understand withdrawing from the agreement would make you feel uncomfortable, but it is quite common to terminate contracts in such situation and many people do so (there is no really an alternative – it would make no sense to join the Tier 2 just because you signed with them earlier than MBB).

You should just check there are no penalties in your contract in doing so, as some companies have them in the agreement.

Best,

Francesco

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Luca
Expert
Content Creator
replied on Mar 02, 2020
BCG |NASA |20+ interviews with 100% success rate| 120+ students coached |GMAT expert 780/800 score

Hello,

Don't worry at all about it. Being a new hire it could seem something really unfair, but you are not the first and you won't be the last one. It's part of the game and you don't have to fell guilty, it's only an internship after all.
The only downside could be that it would be really hard to get an offer from them if the MBB internship doesn't go well.

Best,
Luca

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Nathaniel
Expert
replied on Mar 02, 2020
McKinsey | BCG | CERN| University of Cambridge

Hello there,

It is not the ideal case, but supposed you got the MBB offer, then go for it.
Part ways in a good term and explain to the T2 firms politely on the reasons, don"t let them hanging in void.
Try your best to be polite and hope for the best that they will not be so much disappointed given you showcase good intention and behavior.

Hope it helps.

Kind regards,
Nathan

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