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someone asked the people at my career center this recently and they said no. at the end of the day, the career center's goal is to help students get jobs. when a student rescinds, it hurts future students chances at that bank, which is why the career center hates that and might punish the student in some way. when a company rescinds offers, it sucks for the few students that might've had offers, but chances are that place will still be hiring again the next year, so it just doesn't make sense for the school to cut off relations with the company. they said if it was a regular thing then they might not let the company do OCR, but a once in a lifetime event like COVID or the '08 recession were such anomalies that the school expects the company will go back to hiring once things return to normal so it just isn't worth placing sanctions. 

 

How do universities "punish" students who renege on an offer? I understand how it's a bad look for the university and hurts future chances for other students but like what can they actually do?

 

Wow, that's actually a legit punishment. I always thought it was more of a "slap on the wrist" but didn't know they would actually go to those lengths to ban kids from OCR and such. 

 

Not much the schools can do really. The schools are dependent on the companies to come back and recruit, year after year, for decades. If a school blackballs a company, that hurts the school and its placement stats, but does zero to hurt the company, which will just hire from another school. I have seen companies renege, or more commonly simply fire new hires early to cut costs. The school won't say a word.  

 

She was lucky. A PE firm forced an exploding offer on me for a summer position and then reneged when I asked for an extension. The principal at the firm was alum of my bschool (and a relatively recent one at that) so he was 100% aware and informed of recruiting guideline.  The OCR team essentially said it happens all the time and there was nothing they could do to help. If they did, firms would just stop posting directly to students and just put on posting on LinkedIn / others. 

 

It’s different now. Top firms dont even need OCR, and a lot of them already dont use it. What are they gonna do, prevent them from posting on handshake? 

 

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