job offer

Discussion in 'Professional Trading' started by copa8, May 20, 2005.

  1. copa8



    hope this posting is in the correct category. if not, i apologize. need to get back to the workforce to reload me account.

    need members' advice on the following. have a job offer and told (thru phone) recruiter that i accept it. the offer letter is on its way from the hiring bank. however, i might soon get a better offer from another firm. can i still back out of the bank's offer? some friends said yes, and all i will get is a pissed off recruiter (loss commission) and bank (won't be able to apply there in future), but nothing illegal. others said no, the bank might try to bind me to it. :confused:

    would appreciate your advice. thanks.
  2. bl7077


    You absolutley can back out if you haven't signed a contract. And don't think for one second that the bank wouldn't do the same to you if their hiring needs changed in the interim.
  3. Htrader

    Htrader Guest

    You can always decline a job. Even after you've signed the papers. Just have to give back the signing bonus.

    Only issue is if you signed some non-compete agreements.
  4. copa8


    thanks for your infos.

    i haven't signed anything. just said on the phone that i will accept. received offer letter today from them and am suppose to start on may 31st. based on your info, i guess i can still back out before my start date without any repurcussions.
  5. You may even back out after your start date (at least in most states with employment at will laws). You show up, don't like it and quit after the first day or the first week on the job. It's absolutely legal and while it's not considered to be a nice thing to do, keep in mind that employers do exactly the same things. You start a new job, they announce layoffs one week later, you were the last in, you'll be the first out.
  6. qazmax


    "At will" employments means.... if the company can sh*t on you, then you can sh*t on the company.

    They would not hesitate to fire you to improve their bottom line and you should not hesitate to quit them to improve yours.

  7. simsim


    This is a lousy corporate culture, not like Japan or some asian countries where the job stays in the family.

    The corporates have no sympathy for the employees, Only for CEO's who get large packages.

    So join and feel free to dump them any time. the only thing is that you may have to return the sign in bonus( which corps hardly pay any more) depending on the agreement.
  8. copa8


    thanks for all your info/advice! they were really helpful & reassuring. was starting to get nervous that i might be binded by my verbal acceptance & receipt of offer letter.

    accepted offer too early b/c was just happy that i got an offer. wasn't thinking too clearly then. reason why i wanted to renege on the bank's offer is twofold:
    1. good chance of going back to my old firm
    2. have doubts about the bank jobs late hours: about 6 days every month, would need to stay as late as 10pm-midnight (with no o/t pay).

    now need to call up the recruiter and tell him the bad news and prepare for a pissed off response.

    again, really appreciate your help guys!

  9. did you get nasty questions about daytrading experience on your resume?
  10. copa8


    i didn't list daytrading on my resume. instead, i put down i was running my own web business for the past 3 yrs that i was out of the finance field.
    #10     May 20, 2005