How should I advise a student about working for incoming economic team?

<p>I used to post here longtime ago and have come back for advice. </p>

<p>Would you advise a student to take a summer internship opportunity in Washington DC? The internship offer may be made from a nationally eminent level economist who is in current president elect economic team? Student has interned in past with the economist. Mentor has mentioned that the student could expect an opportunity. So far, no formal offer has been made. Problem is student has a standing offer from an investment bank where he worked last year. He needs to tell them in case he gets this opportunity. If student decline this investment offer, we are wondering what will happen for future employment with the firm. Pay difference is also huge for summer opportunity. On other hand, the internship offer will allow student to work very closely on some very important current economic issues.</p>