I am in trouble at my school for reneging on an offer that I said yes to verbally.
I DID NOT sign anything accepting the offer.
I thought reneging meant signing an official document accepting an offer and then saying no to it.
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who cares. do what is best for you. if that involves renegging on a previous offer to go get another one that is better for you, do it.
If it's UBS, etc. (you get the idea) you could just tell them that you are indefinitely deferring your employment (see: comp deferral)
Question: tell the school to go fuck themselves. (actually not a question)
The idea is right, but please prevaricate this when you speak to your career services. You need to be a lot more nihilistic when it comes to making consequential career decisions.
Nope includes verbal too
Too late. Just make sure that the firm you accepted with does not find out.
why are you in trouble if i may ask?
It makes the school look bad if you have accepted an offer and then reject it. Certain schools will remove you from the alumni network upon graduation for doing so.
Like the poster above, schools care about their rep which comes from the preparedness and behavior of their students. If an employer gets pissed they will choose not to return next year which the school does not want.
In my opinion, you dropped tens of thousands on bullshit credit hours and books these professors updated every year and required you to have so do whats best for you. Markets change. Your market did and if the roles were reversed they would drop you like a bad habit. Fuck what some OCR department says in an email. It's your life.
I did this years ago and I still feel bad about it. But honestly, do what's best for you.
Is this for FT or SA? I'm guessing SA
Although I agree with the "do what's best for you", you need to be very careful about how you handle yourself during SA recruitment. If you renege on a company and your school finds out, they may blacklist you from FT OCR, which is a pretty big deal. It's happened in the past
If it's for FT, then obviously you should choose what's best for your career. Reneging is still frowned upon, but the negative ramifications, especially from your school, are significantly reduced.
I'd be most worried about the firm you accepted your second offer with. Heard situations of that firm finding out and dropping offer because they didn't want to be associated with reneging (SA positions.)
Renegging after verbal commit/acceptance (Originally Posted: 02/23/2013)
I'm already working.
Received a decent offer at a firm that I think I could build a career at/from.
Have like 5-6 more processes that I'm in the middle of, some of which would be better for me in the long-run.
The firm who offered me a job needs an answer soon.
Pros/Cons of verbally accepting and continuing to interview while they run the background check and tie up other loose ends internally?
deleted: double
Its deceptive to accept an offer while continuing to interview at other firms.
Imagine that a company offered you a position, then rescinded the offer before your start date because they found a "better" candidate. Would you ever want to work the people there? Would you ever trust the people there?
Now I'm sure that this does occur (for both sides), but it doesn't change the fact that its fundamentally deceptive. If I were the hiring manager for one of the "other" companies, I would probably ding you and notify the company that extended the initial offer.
They would do it to you. Do what is best for you. People have a short memory and sometimes I feel like people on this board forget that.
I have seen candidates not pass background checks... so until deal is done anything can change. Happens all the time with lawyers and finance that deals dont close and things change. Until name is dotted and crossed. It is fair game in my opinion,but it definitely isnt honest faith.
I disagree with your analogy here.
A deal that fails because of execution risk (such as when a company can't raise debt because it can't obtain equity commitments in time, etc) is different from a deal that fails when a client decides to close the deal with another law firm / bank. The difference here is intent. In the former case, the company does not intend to cause the deal to fail whereas in the latter case it does.
The former case to me is the equivalent of a life changing circumstance for the candidate or a failure to meet a basic requirement (e.g. criminal background check). The latter case is the equivalent to a candidate reneging on his/her acceptance.
Do they know that you've been interviewing elsewhere prior to making the offer? How did you initially respond to their verbal offer?
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