Can a bank withdraw my offer and not hire me?
Signed the contract about 2 months ago, and typically vetting checks take like around 1 month but this bank is being extremely slow.
Was wondering could it be a sign that due to the current economic situation, can the bank withdraw my offer to save costs - even though the contract has been signed and no conditions have been broken?
Thanks
Large banks sometimes... Just forget to do stuff lol. It took over a month between my verbal to get my contract because HR straight up forgot about it and the recruiter had to poke them twice to hurry up.
When do you expect to start? If it's in summer 2023, I wouldn't expect onboarding to start until March earliest. If you're conscious to check everything's going okay, you could always drop your recruiter a brief email to wish them a happy new year and you look forward to onboarding/getting started in 2023.Hopefully you'll be fine either way!!
Was supposed to start January 3rd but there's this one HR guy who isn't responding to anyone including the hiring manager and he does the checks. He's been constantly asking for weird documents - and I say weird because I did the vetting process and got through within a month for 2 other roles which I ended up declining.
The head of resourcing, my future line manager (Director) are all waiting to hear back from the vetting team, so I don't know what's going on.
Idk if im being paranoid but could they be delaying due to the current situation (i.e., lots of cuts)?
The answer is that yes, with an at-will employment contract they legally can (typically with no real recourse, but if there is it should be laid out in the contract). That being said, there is a reputational risk for banks to withdraw signed employment agreements, and to my knowledge that hasn't yet happened in this downturn.
I think you should be safe unless things start to get substantially worse. Best of luck regardless
Do you really think that cutting a couple of incoming analysts will impact the bank’s reputation? JPM did this last summer and here we are
They'll avoid it if they can, but their bottom line will always be the priority. Juniors will always be needed, and banks also have to try to time hiring correctly. If they're still expecting a bull market later this year or next year then they'd be less likely to cut. If they're more bearish then they'll likely trim the incoming classes.
I hope I'm wrong and juniors aren't at risk, but given what's currently happening in the market, I'm far too cynical to believe that more banks won't follow Goldman's lead and begin cutting current and/or incoming folks.
HR is just slow sometimes, I wouldnt worry.
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