Can A Company Prevent You From Reneging?
Hey guys,
Title says it all.
I'm planning on reneging the summer 2018 offer I signed with a non finance company, so I can accept an offer I got from an AM company. I'm wondering if when I call them up telling them I cannot do the internship, they can say "Sorry you signed a contract, you have to work here this summer" or something like that preventing me from reneging, as a contract is a legally binding document right?
Has this ever happened to anyone? Or how do reneges usually work?
Not really. (1) for what you said to happen, you would have had to sign a personal services contract (that’s a thing) and they could enforce that. But that doesn’t happen, ever. And (2) they could enforce it as a standard contract but why would they want to have a disgruntled employee from the getgo?
Where this is going to come back to you is later in your career when you really need a job to keep your kids fed and you walk into your final interview and one of these same people is sitting there and they have a say in your hiring. It’s a small world out there, be careful.
I mean, its totally different industries. The p value of someone from HR in that company moving to the finance sector and interviewing me down the road is nearly 0. I'm more concerned that they will try to force me into doing the internship.
Are they going to kidnap you, duct tape you to the desk and hold a gun to your head to perform tasks? lol
Really, the only situation where one would be forced to work, per-se, is if you are a high value executive that is tied down to a company through a non-compete agreement and you want to leave, but can't work for a competitor in the industry so you are forced to work for a certain company or leave and wait 1 year or something before working for a different one.
That's the only way a company can really force your hand to work.
Just be courteous, write a professional note to them saying that you felt it was a great opportunity, but you have shifted focus in your career aspirations and path, etc etc, don't name the firm you are going to, and then you have really done your part.
this is spot on great advice.
You are not an indentured servant. Go do whatever you want. Just be aware of the potential damage to your professional reputation and/or any repercussions from your school's career services (many schools ban students from on-campus recruiting if an employer complains about them reneging).
Later in your career this actually can be legitimately an issue if there is a non-compete clause which would effectively almost force your hand to turn down an offer elsewhere, but have never seen it at the intern level.
FYI. Just read your employment contract - all of this should be covered in there.
If you are "at will" you dont have to do anything other than giving them notice. If you signed a fixed term service agreement - most times it is not enforceable until day one. Even if you did sign a fixed term agreement and no money was paid as a sign on - you are gaining nothing and they are losing nothing.
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