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TheGoat
27th September 2008, 09:36
Essentially it looks like I'm going to be offered 2 x investment bank support role offers early / mid next week.

I haven't received the actual physical contracts but I've been told that a verbal offer would be given next week and then the actual contracts would be delivered to me shortly after, with a credit/reference check soon after:

The two contracts are with different agencies and different investment banks.

The question to all of you is this:

Should I just accept the first one that comes through and completely reject the second one that comes through (perhaps the conventional way of doing it) ? I'm asking this because of various reasons:

1) If I verbally accept both and then go for one ... I seriously think its going to upset both the agents and the Investment bank that I decide to reject and in the future I'll get no more business with them having verbally accepted and then withdrawing my acceptance .. i.e. they may have to restart the recruitment process all over again or the bank will have to ask rejected candidates to join up. This is a major issue with me as there are only so many investment banks in the world (fewer of late) and so many agencies that actually help out effectively.

2) Even though I am 100% sure that I will pass the credit check with both these investment banks I don't really trust previous managers from previous jobs ... many have been utterly two faced, malicious and back stabbing and I know that the worst they can do is 'not give out a reference' but if this somehow jeopardizes my single offer that I accept I'm going to look like a proper donkey not accepting the 2nd offer that was given to me and rejecting it instead if the one that I do accept falls through.

Its a strange dilemma but could you give me some advice...?

I'm can't remember if a mate of mine once said "don't worry about accepting multiple offers ... the only real thing that really narks off Investment banks and companies is if you sign and then withdraw"....

thanks for any advice....

TheGoat
28th September 2008, 07:42
come on guys give me some advice please ... I've never been in this situation before but some of you out there must have been..

multiple verbal contract offers inbound, should I accept both verbally and then turn down the one of the two that I least like later (before signing any), note: anything can go wrong at this stage ie client may withdraw offer etc. ?

As I stated before my concern is the impact of future business with the client if I attempt to do what I mentioned above .. note that these are Investment banks and they have a strong HR function, credit checks etc, reference checks and all manner of barriers to entry that can scupper your chances at every stage; question is will they remember if you've pulled a stunt like this before .. anyone got any experience of doing this i.e. verbally accepting both but then
pulling back on your word ? any tips ? Remember I may need the end client for business in the future ....

cojak
28th September 2008, 10:06
Investment banks, eh?

Don't expect either of them to be going concerns by the time you turn up for work...

HairyArsedBloke
28th September 2008, 10:19
It's a bit cheeky of them doing credit checks on staff/contractors when they are more likely to have a dodgy history and chance of going bust.

Do a credit check on them.

TheGoat
28th September 2008, 10:44
It's a bit cheeky of them doing credit checks on staff/contractors when they are more likely to have a dodgy history and chance of going bust.

Do a credit check on them.

I know what you mean but unfortunately employment is a little one sided right at the moment.

Banks etc can be checked with their Moodys rating ie triple AAA = great credit rating but I dunno those ratings are periodically checked and you don't know how many debts or otherwise they actually have on their books.

I just don't know how to play this one out to be honest.

thunderlizard
28th September 2008, 10:57
Can't you resource them both? don't they require similar skills? If so you should synergise.

BlasterBates
28th September 2008, 11:19
Essentially it looks like I'm going to be offered 2 x investment bank support role offers early / mid next week.

I haven't received the actual physical contracts but I've been told that a verbal offer would be given next week and then the actual contracts would be delivered to me shortly after, with a credit/reference check soon after:

The two contracts are with different agencies and different investment banks.

The question to all of you is this:

Should I just accept the first one that comes through and completely reject the second one that comes through (perhaps the conventional way of doing it) ? I'm asking this because of various reasons:

1) If I verbally accept both and then go for one ... I seriously think its going to upset both the agents and the Investment bank that I decide to reject and in the future I'll get no more business with them having verbally accepted and then withdrawing my acceptance .. i.e. they may have to restart the recruitment process all over again or the bank will have to ask rejected candidates to join up. This is a major issue with me as there are only so many investment banks in the world (fewer of late) and so many agencies that actually help out effectively.

2) Even though I am 100% sure that I will pass the credit check with both these investment banks I don't really trust previous managers from previous jobs ... many have been utterly two faced, malicious and back stabbing and I know that the worst they can do is 'not give out a reference' but if this somehow jeopardizes my single offer that I accept I'm going to look like a proper donkey not accepting the 2nd offer that was given to me and rejecting it instead if the one that I do accept falls through.

Its a strange dilemma but could you give me some advice...?

I'm can't remember if a mate of mine once said "don't worry about accepting multiple offers ... the only real thing that really narks off Investment banks and companies is if you sign and then withdraw"....

thanks for any advice....

Difficult one particularly as budgets are being pulled on a daily basis. Investment banks as such donĀ“t exist any more, but I presume you mean an "ex-Investment" bank or a commercial bank like RBS or Barclays that has IB activities.

I would pressure both to come up with a contract. Make it clear you only accept when the contract is actually put in front of you. If it is a formality then the bank/agency should provide you with something. I doubt that the "b*stards" from the past will be a problem.

max
28th September 2008, 14:37
Essentially it looks like I'm going to be offered 2 x investment bank support role offers early / mid next week.



if you let the agents involved know there is a bit competition for your skills, they could sweeten the deal...by hitting the client up for increased rate or reducing their margin from the current 40% to a more realistic 12%.

TheGoat
28th September 2008, 16:49
if you let the agents involved know there is a bit competition for your skills, they could sweeten the deal...by hitting the client up for increased rate or reducing their margin from the current 40% to a more realistic 12%.

Best strategy I've heard yet... kinda.

Bob Dalek
28th September 2008, 17:29
Flip a coin.

rsingh
28th September 2008, 19:08
Accept both and exercise your right to substitution. Then spend more of your time at the easier. You are running a business aren't you?:smokin



Disclaimer: Wolves are top of the table and I am drunk under the table...

Ruprect
28th September 2008, 20:17
Be honest with the agents.Tell them that there is another on the horizon and that due to the current market you will commit only when there is a contract produced. It will soon kick them into gear. They can't say they weren't warned.

When you get them through, sign the one with the higher rate.

HTH.

BrilloPad
29th September 2008, 06:58
Be honest with the agents.Tell them that there is another on the horizon and that due to the current market you will commit only when there is a contract produced. It will soon kick them into gear. They can't say they weren't warned.

When you get them through, sign the one with the higher rate.

HTH.

Not often the best advice but in this case I agree.