Will I be expelled from Bschool
I am making this post to clear some of my concerns regarding reneging an offer and hope that you all can provide me some of your thoughts.
I am currently pursuing a one year Masters from a target B-school, think UVA/Duke/UNC, and accepted a job offer last month from a top firm in their FLDP program. This company comes to campus every year and I was lucky enough to get an offer this year via on-campus recruitment. Today, I got an on offer from my another company for an IB role...
I was wondering how should I proceed if I really want the IB role? The career services hinted us early in the start of the recruiting season that a renege means violation of code of conduct and could result in loss of services, suspension of privileges or expulsion from the program.
Can the school really expel me from the degree program if I renege the FLDP offer for an IB role?
I feel like you should just speak with a counselor at your school or someone in career services to get advisory and plead your case. Sounds pretty drastic to expel you and not grant you your degree for reneging, especially if you can explain to them the importance of the IB role. I don't know how these things work, but this is an unfortunate situation to be in.
Talk to career services. But they won't expel you, they will likely do something like stop you from using career services in the future and maybe fine you, though.
Often they have you speak to a board of counsel and explain why you made the decision you did. They will not expel or suspend you, as they just want to ensure you aren't going to hurt the schools reputation with firms that regularly recruit. I reneged on my Big 4 offer for middle market IB Leveraged finance and it was the best decision I ever made. I had to meet with the school and the counselors and explain that i wasn't trying to shit on the school, but merely was offered a better role.
slap on the wrist if anything
Good luck!
The schools speak loudly but carry a small stick with these kind of things. As long as you communicate with the school - and allow them to smooth things over with the employer - punishment will be small or non-existent. What is BAD, is if you renege without telling your school, because that can screw up their recruiting efforts in future years.
did they cash your tuition check? if so, if they feel like opening their mouth they should eat a dick. seriously though just talk to them and should be ok. anything short of being expelled would be fine since you're gone in a few months anyway.
a friend of mine who went to kellogg told me the school fines you 30-50K for reneging
Wow i did not know this was an actual thing. Kind of an absurd amount to fine a recent grad who might just paid the school $150k+.
I go to Kellogg and can confirm Frank's comment.
You won't be expelled. 1-3% of people reneg on their offers every year. Just be prepared to pay up.
My school doesn't make you pay the fine if you talk to them first before reneging. They threaten you so you inform them (and they can smooth it over with the employer), but if you inform them, they've never required a person to pay
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