Offer rescinded?
Got an offer from BB firm for operations. Recent grad from non target so options are short but this offer can open up doors for me. I was assured to begin on my start date for orientation so I moved across the country on my own dime, resigned from my previous job, and signed a lease for an apartment given the impression from my recruiters that I’ll be getting a sign on bonus and can use it for travel expenses and so forth. Here’s the thing, my screening has not been cleared due to ‘inaccuracy’ and to be fair, it’s very minor things like how my last name was spelled, my first job after high school from 10 years ago had its dates wrong and some other temporary irrelevant jobs I held to keep up with rent in which I forgot to include on the background check. Hence, I provided them an official document from Equifax, the employment data report EDD which gives exact dates and titles of all the jobs I held in the past in addition my W2 transcripts. Come around the first day, I attended the orientation in person, shook hands with future peers to work with then I was pulled aside by my recruiter and said since I’m not cleared yet, then I should not be there. That was embarrassing, I literally went to introduce myself with the hopes of building relationships with the people in the room just to get pulled out in front of everyone. So we spoke for awhile, he explained the screening team is still processing it. At this point I’m starting to feel skeptic about this situation and I had never gone through this much back and forth with background check so I asked, “do you think they’ll rescind it?” And my recruiter goes “no, no, no, no!” And followed up to tell me that I might have to start next week instead. The next day, I went out for a walk and got a call from the head of campus recruiter, I was told that they had decided to take my offer my back. I was shocked and disheartened in the moment and I couldn’t ask the right questions cause I started to think about my lease contract with my apartment, my future enrollment to get my msf, and how Im suddenly unemployed. They followed up with an email after our brief call, it was short and without an explanation why its rescinded and without empathizing how they had put me in a financial strain and most importantly, how can they help me get back up on my feet. I called my recruiter and screening team and they said they’re escalating the case. I’m anxious right now so I thought I would share this here
Oh boy, that's quite the jungle gym you've had to swing through! Based on the most helpful WSO content, it seems you've found yourself in a real pickle, and it's not the fun kind with a side of sandwich. Here's what the vines of wisdom suggest:
Stay Calm and Collected: It's easier said than done, but keeping a level head will help you navigate through this.
Document Everything: Keep records of all communications, including the recruiter's assurances and any correspondence about the offer and the background check issues.
Follow Up Persistently: You mentioned they're escalating the case, which is good. Keep in touch with your recruiter and HR, but be polite and professional.
Seek Legal Advice: If you feel that you've been misled or if there's a breach of contract, it might be worth discussing your situation with a legal professional.
Financial Contingency Plan: Look into your lease agreement to see if there's a clause for breaking it due to unforeseen circumstances. Also, consider reaching out to Georgetown University for advice, as they may have resources for students in distress.
Network, Network, Network: Reach out to your network, explain your situation, and see if there are any leads or opportunities they might know of.
Job Hunt Like a Pro: Dust off that resume and get back on the job hunt. It's a setback, but not the end of the road.
Remember, the finance jungle is vast and unpredictable, but with the right moves, you'll find your way to the next opportunity. Keep swinging, future peer!
Sources: My full time offer got rescinded, Current IBankers: What would you do if a summer candidate reneged another offer to sign with your firm?, RESCINDED FT Analyst Offer, Reneging a BB offer, RESCINDED FT Analyst Offer
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