Can they take away your full time offer after summer?
Since market conditions aren't ideal, if you were a summer analyst at a BB and haven't accepted the offer yet, could they take back their offer if they need to cut labor? Or would they fire the current employees first?
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Poll
WSO Employment Rate: for those of you searching for a job, have you received an offer yet?
Yes
52%
No
48%
Total votes: 105
New groups
Of course they could, they
Of course they could, they did it in 2001
Read your contract-I would
Read your contract-I would bet it has a clause about employment agreement.
If they let you go, some firms let you keep the sign on bonus as severance.
Hey, this is an interesting
Hey, this is an interesting point. Some contracts I have seen mention that you are an 'at will' employee and that the bank can cancel it for no reason whatsoever. It also says that you can also cancel on the firm for no reason. Does that mean if the economy tanks, they fire you or if you find a better offer after signing that people cancel on their firm?
Yes, it works both
Yes, it works both ways.
Also, they would take away offers before they fire current employees.
Do many people actually
Do many people actually accept their offers and then use the clause to pull out of it if they get a better offer? I'm assuming that whatever bank you pull out of will be pretty angry...
I would say very few people
I would say very few people accept then renege for a better offer, mainly because either people who have offers can go for accelerated interviews or have until late November to accept. Reneging on an offer usually burns quite a few bridges...