Can the bank change the contract?
I’ve been offered an IBD SA . They called me today, wanting to transfer me to the another location instead. I wonder what is happening, why the sudden change?
I'd say look at your contract. They usually say that they reserve the right to change the terms in the actual contract.
I see.
Although laws vary by region, employment is, in most of the first world, "at will". The employer may, at any time, terminate your (future) employment for good cause, bad cause, or no cause at all. Given, then, that your employer may terminate the agreement at any time, it's easy to understand that they may also change the terms of the offer. And, even if that weren't the case, they could just as easily rescind your existing offer and draw up an entirely new offer. As a seller in this market, you have very little power over the decisions of the future buyer.
I did think about the possibility of this coming when I signed the contract three months ago. Since I attend a target school, I never thought it would really happen to me given its low probability. But I don't understand why they would want to do this. Doesn't it look bad on them as well?
Of course it does, which is why the action would only be done in rare circumstances. Perhaps they are downsizing the HK office or upsizing Beijing. In any case, it likely maximizes your chances of receiving an offer, and it's only an internship. If you're unhappy with the locale, you can use your experience to get interviews elsewhere.
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