How to decline an already accepted internship offer?

Question

I accepted a summer internship from Goldman Sachs for the summer internship (2007) three days ago but now today Morgan Stanley has also called me with an offer. I want to Morgan and want to call quits on Goldman.

What is the professional way of doing this? What are the important things to add in the email letter informing this to Goldman??

Any comments and suggestions will be helpful
Thanks...

Answer 1

well make sure your doing the right thing first of all.
It sound sound somthing like this.

Due to recent circumstances, I must decline your internship offer this summer. I am very grateful for your time and effort and I apologize sincerely for this unexpected change. ? I look forward to someday doing business with you?. I apologize for any inconveniences.

Calling them would be most appropriate though, unless the only way of communication in the past was by e-mail.

Answer 2

Before answering the question, I must say, that you're probably one of the few who do get an internship with Goldman Sachs, and then even fewer who would actually decline the offer. You're definitely putting yourself in a tight position because depending what type of career you're looking for or what specific job opportunity you're looking to enter, sooner or later, based upon your successful career, it may eventually bring you back to Goldman. If you believe that there is no other alternative other than to decline Goldman Sachs, then go politely and professional write them a letter and give the appropriate person a phone call letting them know. However, if you believe your career wont be at jeopardy and losses will be minimal by interning at Goldman, I would say to continue with the position. From an outside perspective, unless Morgan Stanley is guaranteeing you a full time position with a specific salary after your internship, I can only see Goldman Sachs being beneficial to on a professional level where networking is very important and furthermore, having it on your resume could only help you in the long run. That's my opinion, but I believe you may need to see what is more beneficial to you in the long run, not just the short term.

Answer 3

First, make sure that you never will want or need to work for Goldman Sachs because you are burning a serious bridge here... that being said, I'd respond in writing (an actual letter with a stamp) unless all of your correspondence to and from Goldman Sachs has been through email. Be as professional and gracious as possible but don't give them any more information than is necessary. Tell them that you are sorry that you will not be able to accept their generous offer of an internship this summer and thank them for there consideration. You really don't have to offer them an explaination other than unfortunately, you are not able to accept after all.

Answer 4

Dear Mr. Goldman:

I am writing to thank you for your generous offer of an internship with your firm. Due to extenuating circumstances, I regret that I will be unable to accept your offer.

I wish you and your firm every success in your future endeavors.

Sincerely,

Morgan

Don't be surprised if someone from Goldman calls you to find out what really happened. You can tell them you received a better offer elsewhere or that Grandma Mae is on her deathbed - up to you. Keep in mind that if Goldman and Morgan share the same Starbucks, it's gonna be a bit awkard if you use the latter excuse and run into Mr. Goldman a few weeks into the internship.

Happy investing.

Answer 5

Goldman Sachs Offer Letter

Answer 6

Be very sure that you never want to work for Goldman ever, because this will burn bridges. If that is the case, call soon out of courtesy.

Answer 7

figure out who you need to talk to and call them, and explain to them the situation. Be honest and firm. TB

Answer 8

Just don't show up.

OR

Call and be honest.