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Scenario #1
What options does a person have if they receive a job offer and accepts that job offer but then receives a significantly better job offer?
Scenario #2
Secondly what if one receives a job offer but is still waiting to hear back from multiple places? How do you communicate to the job offering company that you would like more time than you already asked to think it over?
Unless you're a football coach in the NFL, it doesn't mean much.
The company I work for now, I was still kind of interested in another position when I accepted and I was on the fence. Not only were they just kind of 'whatever' about my start date, I found out another person was supposed to start on the same date as me, backed out and they were like 'whatever'.
Think about it this way. If you were a boss at your own company, were going to hire somebody and they backed out, what would you think? My response would be 'whatever'.
If you work for a great company that is busy like Apple or Microsoft, then you just hire the next person in line who will be thrilled.
If you work for a so-so company, then you can still bring someone on board who was comparable.
If you work for a crap company, then you probably didn't even have work for that person to do.
The exception is interview processes that stretch a long time and are a long and expensive process for the owners AND where the other top candidates will have taken other jobs by the time you accept and then reneg ... like NFL coach.
Of course, you may not be able to work for that company again, because you went back on your word. I wouldn't care, but some people do.
You typically should think about what offers you are still waiting for. If there is an offer that you want to wait for, just tell them that you are in the middle of interviews so you would like 2 weeks to make a decision. If they say that that is too much time, try to get 1 week. Then you need to tell that other company that you are in a time crunch since you already have an offer and usually they can expedite the process because they don't want to lose out on you.
What you should not do is take the job, keep interviewing at other jobs, and then give notice a few weeks into working. That burns a lot of bridges.
Scenario #1
What options does a person have if they receive a job offer and accepts that job offer but then receives a significantly better job offer?
You can back out of Company 1 and take the job at Company 2. Just be aware that you will never get a job at Company 1 again, and possibly with any other company where the people who wanted to hire you might work in the future. It depends on your industry. You have to determine how risky this is.
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Scenario #2
Secondly what if one receives a job offer but is still waiting to hear back from multiple places? How do you communicate to the job offering company that you would like more time than you already asked to think it over?
You can ask for more time, saying you were waiting to hear, but beware that they don't have to give it to you. They could even rescind the offer. If you already asked for time and that time is ending, you need to decide whether you want to accept the offer. The company isn't going to be eager to have you come work for them if you convey to them that you're not really all that interested in working for them. Remember the saying about a bird in the hand... Unless you really have good reason to believe that you will be getting an offer from one of these other places and they are jobs that you would much prefer, you should just take the offer you have. So many positions end up never getting filled (the company decides they don't need to fill the position after all) or they are given to an internal candidate, or there's a delay in when they can fill the position. Never count on an offer unless you have really good evidence it's actually coming through. And even then, nothing is certain until you actually start working there.
Scenario 1: Tell Company 1 that your situation ahs changed and can no ,onger work there. Start work for Comaony 2.
Scenario 2: If you have been given a couple of days to think about an officer, don't expect them to give you anymore time. You either accept the offer or you don't.
#1 Take the better offer. Tell the first company you're sorry but the situation has changed.
#2 Take the offer in hand. If a better offer arises, see #1.
Reason, you want to be as honest and respectful of employers and potential employers as you can be, but at the end of the day you have to look after your own best interests because nobody else is going to. The company is going to look after their own interests.
The point about burning bridges is a good one and there may be close-knit industries where your long term reputation is more important than your immediate best interests but I think that is the exception. It's a big world so unless you're a big name in a small industry no one is going to really remember or care in the long run. Besides, turning down that better offer may well be burning your bridges with that company. You can't please everyone.
Furthermore, I don't think I would tie my career to an industry that is so small or close-knit that getting on the shiite list of one company or hiring manager will impair my future in that industry.
Most industries are smaller and more close knit that people think.
I work in tech and I come across the same resumes many times. In fact, just this week I interviewed a guy that I interviewed at my previous company a couple of years ago.
And many times I have had previous employees of mine interview or have their resume come to my desk and if they did anything to burn a bridge with me, I simply discard it and tell our recruiter that we are going to pass on this person. I have also run into the same people at different jobs many time throughout my career.
Since you're already working at company #1, have a good look around and get a sense of the culture there. Is the compensation and culture a "fit" for you in the long term?
Thoroughly investigate company #2. Look them up on Glassdoor, Google them, research as much as you can. Talk to some of the people who work there if possible. I have actually spoken to employees at some prospective companies I was interested in posing as a recruiter to establish a feel for their culture, pay, overall morale, etc. Was that ethical to do? Since when is business ethical? You have to do whatever it takes to ensure your continuing success.
Then if you decide in favor of company #2, give your notice where you presently work. Don't worry about references since the limited tenure is of no significance. They may not like it, but tough.
I have also run into the same people at different jobs many time throughout my career.
Proof that IT has, along with many professions, become transient in nature. No news in that.
As for prior employees burning bridges, I have a mercurial system admin who I feel is the best in the business. He has worked with me at several jobs, even quitting on me with minimal notice once to go to what he thought was greener pastures.
I hired him back because his technical acumen and dependability under pressure is legendary. He, along with several other trusted IT pros, have followed me from company to company. If you take care of your team and lead responsibly, you develop a following that augments your marketability. And we've profited from this esprit de corps enormously.
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