UBS Verbal Offer Rescinded?
got the verbal a week ago. today got a call saying "theres been a hiccup on our end with regards to your offer, have you resigned from your current employer? I said no. and then he said more details will follow in a few days . " WHat could this mean? i asked if it has anything to do with my backroung check and he said no. Im very anxious. what could the outcome be? do i have a chance ? Again he said its an issue on their end and nothing to do with me. Could they have organizational issues that mean I wont be able to get the written offer?
Advice?
I've never heard this happen. Can't be good.
Isn't it common? Why wouldn't he just tell me on the spot if they didn't want me? Do I still have s chance ?
No, it is not common. With respect to your second question, I can only speculate. Some possibilities include:
Again, speculation.
May be relating to internal restructuring. Could be whoever you would be working for is being cut and they're trying to determine if the spot still exists, or a budget issue.
If it was related to you personally, I feel they probably wouldn't have reached out to you before getting their story completely in order (and likely passing it through legal internally).
I'll preface this with a personal anecdote: I had a verbal offer turn into a formal offer, and then my formal offer was rescinded. The company I was interviewing at was actively being acquired and they closed the deal two weeks after I was given my verbal. All staff was let go after the acquisition, including those who interviewed me. It was my first introduction to the M&A process haha. Shit happens at bigger companies because there are so many moving parts.
It could be any number of things (funding, HR mistake, interview mistake, politics, the company accidentally sent out too many offers, or ... even an acquisition). Worse thing you can do is speculate and worry. Best thing you can do is follow up, and keep interviewing.
Can see it now coming across my Factset and Bloomberg notifications...
UBS "Rumors of UBS takeout with unspecified buyer, knowledgeable sources claim"
Weird double post
?
Thanks for sharing all..
I suspect it is a budget issue. I am even willing to take a paycut to join this position as it is something I have always wanted to do. I tried following up today but no one answered. It would be nice to get a follow up. Although he did mention he will be giving me more details in the next few days.
It's out of your control.
Patience is a virtue. In the meantime, make sure you continue to bust your ass in your current role.
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