Taking a new offer after having accepted one

Had to do this recently, so I can share my thought process and the feedback I recieved when I had a similar question

1) If you have no doubt the second offer is the better offer for you, the only question remains how you retract your acceptance. Email the recruiter who guided you through the interview process/gave you the offer and set up a call saying you have updates. Let them know your circumstances have changed and you'll have to retract your acceptance. Do not tell them you're going to a competing firm or any details. 

2) If you're unsure between the 2 offers, consider if the benefits offered by the second firm outweigh the benefits from the accepted offer+potential blacklisting by the first firm. 

As to the consequences, I don't believe there are any except a short (or permanent) blacklisting at the firm you retract the offer from. If you have a connection at the firm that referred you/went to bat for you, let them know personally as welll. It shouldn't affect you any other way. Good luck, it does happen all the time.

Hi there,

If you get two offers and you clearly want the one arriving later, there is no reason for you to stick to the first. Having said that, there are some best practices to follow in this case:

1. Once you receive the first offer, call the second company and try to speed up the process mentioning you have an offer with deadline from a competitor
2. Try to delay the signing of the first contract as much as possible, as if you sign there may be consequences depending on the country and company (eg a financial penalty)
3. If 1 and 2 are not applicable, call HR instead of writing an email as suggested by Anon B

Best,

Francesco

Hey there,

This is a very common issue with consulting applications, so you are definitely not alone here.

There is no valid reason not to go for a better offer that may arise at a later stage. After all, you need to look after yourself and not the interests of a firm, which anyway benefits a lot from information asymmetry and power distance in the recruiting process.

If this issue should arise and you want to turn down an offer you have already accepted:

• Inform the company as soon as possible
• Stay polite and professional
• Thank them for their guidance and support

Make an effort to leave on good terms.

Cheers,

Florian

Hi there,

I agree with anonymous B. It's technically not "ethical" but it happens a lot. Moreover, there are plenty of instances where firms renege their contracts themselves (or delay start dates). You want to avoid making a habit of this, but things do happen and, ultimately, you need to put yourself first!

That said, when/if you do need to renege a contract, make sure you do so in the most professional way possible. Hit the problem/issue directly and speak with the appropriate people directly and with tact.

Same question was posted a few days ago- https://www.preplounge.com/en/consulting-forum/say-yes-to-offer-and-then-opt-out-10825

Hope all goes well!