In Case of Rescinded Offer...

Posted by: Phil Mintz on November 18, 2008

What do you do if a company reneges on a job offer?

So far, we haven’t heard of many going companies — as opposed to the Bear Stearns and Lehmans of the world — rescinding job offers to MBAs in the current downturn. But it happened in the last recession, and its not unlikely that there will be some in the coming months.

Lynne Sarikas, director of the MBA career center at Northeastern University’s College of Business Administration, sends the following thoughts on what do if a job offer is rescinded:

• In tough economic times, these things do happen occasionally. For me, it would certainly question the organization’s ability to plan.

• When searching for a job, you should never stop searching until you have everything signed, sealed and delivered. If a company rescinds, you need to quickly pick up where you left off and get right back into the swing of job search mode. If you were in advanced stages with other companies, let them know that the situation has changed and that you are available again.

• Resist the urge to feel sorry for yourself and channel that energy into your job search, network like crazy and identify that next opportunity

• It is certainly appropriate to ask the company who is rescinding the office what the procedure will be when the position is authorized for hire. Will they come back to you or will they start the process over again? Don’t put all your eggs in this basket but certainly know where you stand.

• If the company is reneging on the offer, there is nothing to negotiate. They are not authorized to fill the position. Don’t beat a dead horse.

• Going back to school is a major decision and should not be a knee jerk reaction. Do you have a strong desire to go back to school? Do you have financing to cover school?

“It is disappointing to have an offer pulled in the final stages but it is not the end of the world.” Sarikas adds. “It is not personal - it is a business decision. Pick up the pieces and move forward.”

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