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do you guys know of a safe way to renege on a job offer? if the employer contacts the school, the school can take away all future recruiting access...what should i do? junior in college.

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Comments (35)

  • Jimbo's picture

    jim3481:
    do you guys know of a safe way to renege on a job offer? if the employer contacts the school, the school can take away all future recruiting access...what should i do? junior in college.

    elaborate on your situation....if your a senior, and thinking of reneging, in general no prob. i wouldnt reneg a summer offer though if you get cut off....

    after you go fulltime, who cares.

  • romulusmars's picture

    bump. any safe way of doing it for a summer position? I verbally accepted an offer, but was recently contacted by my first choice for an interview. If I get it, what then?

  • gomi's picture

    Recently, I was offered a FT position for a company that I plan on working for. However, I had also interviewed with a company about two months ago in which I was extended an offer (I accepted the offer, in fear of having no job).

    My question is this: How would one go about reneging? Should I contact the school's career center and explain my situation? Or should I renege company A by sending an email?

    For those who have successfully reneged, how did you go about it? Thanks.

  • jimbrowngoU's picture

    I wouldn't bother going through the school center. I reneged on an offer and just called up the HR contact for my school, the recruiter, and explained to her that I had lined something else up that gave me an opportunity I did not expect to have - an opportunity I would later be kicking myself for if I did not take it. She asked for a little bit more information, but I kept it at a minimum and told her I was given the opportunity to travel (my initial job was in Boston - new job in NYC - so that's kind of true) and that it was a job in finance.

    I suggest just being honest and do your best to be as up front as possible. They may not be thrilled with you for reneging, but if you call and are straightforward, they will at least respect the fact you called them right away and were honest. None of this email BS - it's very impersonal and will make you look like a pussy. Not to mention it will 100% burn bridges - if you are honest and call, it may not completely burn bridges. And I doubt they'll tell your campus recruiting center.

  • Frank Slaughtery's picture

    interview, if you get the offer, call HR at the other firm and tell them youve taken another offer. plain and simple.

  • gomi's picture

    Thanks jimbrowngoU and iambateman for your inputs.

    I already got the offer for the company I want to work for (heard today). My other offer, which I had accepted, was back in middle of December.

    So I guess I will go ahead and give HR (for the company I don't want to work for) a call, letting them know I have accepted another offer.

    Thanks again for the help.

  • In reply to romulusmars
    Ivan's picture

    Verbal acceptance doesn't mean anything, so do not worry. Unless you sign a contract, you don't have any obligations

  • gomi's picture

    Thanks Ivan.

    I forgot the mention that my FT offer that I had accepted back in middle of December was only a verbal acceptance.

    But this brings up another question: Is there a possibility for reneged company to contact my school, telling them what happen? What if then the career center decides to call the company that I plan on working for and tell them to renege their offer towards me? Then I'm screwed.

    Thanks again for the inputs.

  • ucla's picture

    You're being paranoid, that won't happen/they would NEVER do that.

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  • Ivan's picture

    Well, if you did sign it at least mean that you officially accepted. But if you say them whatever verbally, it doesn't mean anything at all - that's the difference. You may always say that you was misunderstood, and they thought your "Hm, that sounds a good offer, I am ready to sign it" an acceptance of the offer (or something similar), while actually it means only the fact that you do like the offer, and WILL accept it via putting your signature on the contract.

  • gomi's picture

    I never signed for the offer that I accepted back in middle of December (lets call this company A); it was only a verbal acceptance. I will be, and plan on, signing with company B (the company that I just received an offer from).

    My only concern was if company A would contact my school and telling them the "situation". But it sounds like they won't (at least according to WSO). I hope its the case.

    Thanks again everyone. If anyone else has an opinion, please feel free to share.

  • gomi's picture

    yawster,

    Care to elaborate what you mean? So a company actually called up someone's school, explaining what had happened?

    By the way, I do not go to UCLA.

  • Classic's picture

    Even if you signed a contract, all offers come with the 'at-will employment' clause. As we've seen, employers have no qualms about reneging offers they give out to summers and full-times.

    Just call up HR and be sincere, explaining that this job was unexpected but was what you definitely wanted to explore as a career. They're people who have gone through the same process as well, so they will understand.

  • gomi's picture

    Thanks Classic. I guess my only real concern is if the reneged company were to call my school's career center.

  • yawster's picture

    I'm not sure of the full details but yes, the company called the career center, and the career center in turn, called some of the other firms the candidate had recruited and gotten offers at. It didn't really make a difference for the company he reneged for, but I'm not sure how it affected the other companies (aside from the firm he reneged from).

    Keep in mind, if a firm likes you, I doubt the fact you reneged on another firm will change that opinion. For instance, firms have no qualms in poaching people mid-program from other firms. This might be an issue for a smaller bank, but I can't see a "top shop" caring too much. That's just my opinion though, so take it with a grain of salt.

    I heard from a close friend and he's not one to lie... I'm not at UCLA either.

  • jimbrowngoU's picture

    If this is really a huge concern of yours, what you could do is speak with the HR where you will work. Explain to them the situation - how you'll be reneging a verbal acceptance with another firm to come work for them - and that you are concerned what may happen if your OCR contacts them. This will give them a bit of a heads up. But I'd only do it if I were extremely concerned about something happening.

  • gomi's picture

    Thanks yawster and jimbrowngoU.

    Before I go ahead and renege, I will sign the contract with the firm I plan on working for. Then I will speak with HR for the firm I will be reneging.

  • s22's picture

    don't want to hijack the thread, but i'm in a similar (but slightly different) situation. I have an internship offer with a small boutique (no formal HR, I've been given the offer and contract and everything by the associate that I've been in communication with) that expires in two weeks or so. However, this position is unpaid (and in NYC) and I have interviews lined up for a couple of BB soph programs that actually pay.

    Now, I'll obviously try to tell the smaller firm to extend my timeline and let the other firms know I'm on this tight deadline, but if all else fails, what would be the right thing to do? I'm thinking I wouldn't feel extremely bad in reneging since I'd only do so if it was for an opportunity that was financially smart (it pays). Also, this opportunity from the boutique is not via on-campus recruiting. Any advice would be appreciated.

  • jimbrowngoU's picture

    s22, just accept. I wouldn't even try to ask the boutique for extra time. If you ask them and they say "no" and then you accept, they may suspect you're going to renege if you get an offer. It depends on what you want to do, but I'd take the maximum amount of time with the boutique. If they say, "make a decision now," accept it. Continue to interview with BBs. If you get a BB, take it immediately and renege on the boutique.

    It's business. They may not be happy about it, but it's not the end of the world, either. There will be no repercussions, as I cannot imagine they'll actually contact your OCR since it's not through it.

  • gomi's picture

    So I just received an email from my school's career center, informing me that they received information from the company that I had reneged on. And they would like to speak to me or at least have me clarify the situation to them.

    So, I am asking: What should I do? Ignore the email? Give a(n) (il)legitimate excuse?

  • gomi's picture

    breakingbankers,

    Oh, I forgot to mention this isn't investment banking related. The company I reneged on was a health care company; I decided to accept another offer in an entirely different industry (FMP program i.e. P&G, GE, Raytheon, UTC, etc.).

    When you say you wouldn't risk it, do you mean not email them back?

  • mass_banker's picture

    This is pretty dumb shit. A company can renege on offers and still come back to recruit at the campus, and if a student does that the f'in Career center is after them. Total BS.

  • gomi's picture

    I agree entirely....
    Now I'm stuck in this dilemma, having no idea how to go about this situation.

  • Mzz's picture

    I once missed an on-campus presentation and my career center went insane on me.

    As for gomi, tell them the truth. Say that you got a better offer and you would never shortchange yourself, ESPECIALLY IN THIS MARKET. Tell the center that they need to understand this and that they are there to HELP YOU.

  • gomi's picture

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