Offer Rescinded for no Reason Possible?
I recently received and accepted a written offer for an analyst role at a boutique REPE shop in the Midwest for after I graduate college this spring, starting in June 2024. I worked hard networking and am very grateful that I landed this role in this job market and I am super excited about the team. Since accepting, I have of course stopped networking and applying for jobs.
I have no reason to have a fear like this, it is simply paranoia, but it is possible/legal/acceptable for the company to rescind my offer for no reason before I begin working? With the uncertainty of the real estate market being in the next 8 months and potential lack of deal flow, could the company realistically decide they don’t have room for an additional analyst? If so, can they get rid of my role before I start? If that would be the case, I would be in a really bad spot as I stopped interviewing at other shops since I accepted this role.
Is it legal for them to do this? Yes. Are they likely to do this? No, unless things are truly dire, in which case you won’t want to start working for them anyway. The impact on their reputation is another thing to consider, since words travel fast in the business. Cutting an income analyst reflects poorly on the firm’s management.
On the other hand, interviewing after you have accepted an offer would be unethical (in my opinion), so either don’t do it or keep it very low key. The Midwest is a small place and RE is a small world, so if you are found to be doing that you might actually lose the offer.
Stop being paranoid and enjoy school while it lasts. You’ll need a stronger stomach than this if you want to do well. It’s not 2007 (yet).
It’s not unethical at all. You’re an at will employee. You can be fired at any time for any reason or no reason at all. Your employer should expect the same from you
Maybe unethical isn’t the word, but obviously people go to “dentist appointments” instead of just telling their team they are interviewing around outright. Point is even without any legal requirement, it still pays to maintain a veneer of loyalty and consistency.
I love when people say things like cutting or reneging on a first year analyst offer will reflect poorly on the company lol.
No it won’t, no one will give a flying f*ck if they screwed you over kid.
Could they pull your offer? Yea they could. You could also get hit by a bus tomorrow.
you’re probably right 🤷♂️
I got screwed over coming out of undergrad way back when with a long standing accepted offer. No repercussions and nobody gave a shit other than me. Reason was economic backdrop.
If it happens to you though, go find a new role quick and whatever you can get. Whenever I bring up this story people view it as an example of resilience in the face of challenge. It was honestly a good outcome.
But don’t stress so much and enjoy college. Stuff works out in the end if you work hard.
Yes but things would have to be really bad before it would make sense to rescind a kids analyst offer.
The cost for a new analyst in a Midwest city is gonna be a drop in the bucket for the bottom line.
I agree, I just find it funny that people say it would reflect poorly on the company, when in reality no one would give a f*ck.
Could they? Yes. Will They? Probably not.
I wouldn't worry about anything right now.
It is possible. It happens. But it is unlikely this will happen to you. They hired you months in advance knowing their needs. Highly unlikely they would rescind an offer with hiring so far in advance.
Brother you gotta pour yourself a glass of wine, focus on things you can actually control, and know that in this industry shit is going to happen constantly. It's all about how you react to it.
Maybe talk to a therapist too. Not trying to be flippant here either - as someone who is also naturally prone to anxiety, you can't be inventing doomsday scenarios that may or may not happen months from now. Shit happens and you work through it.
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