Opinions on declining an offer after accepting it?

[luminary]

I feel more comfortable posting my situation here than on Reddit. I'm a Master's student graduating in April '10. I have already applied to a couple of 2010 full-time/rotational development and internship (some companies accept students who have already graduated for internships) positions. I have also accumulated a year of internship experience during my Master's program at two Fortune 500s + graduate research work - so my prospects are brighter (not that I'm boasting about it). I'm not really a hacker, I just need a corporate job (I'm on F-1 student visa (I also did my Bachelor's in the US) and the new OPT rules state that I'll have to get a job within 3 months of my graduation - or - go for PhD in Fall - but I'm not really a PhD type of person - although I like doing research)..

My concern is -

1) If I get an offer from company A in October and I accept it (fear of not getting further offers) and suddenly get another offer the next week from company B (say with better salary, work-life balance, role closer to my interests etc.), would it be ethical to decline company A's offer after accepting it?

2) If I'm on the verge of declining company A's offer, should I tell company B that I already accepted an offer from company A but would like reconsider it and probably switch to company B's offer?

I would appreciate your opinion. TIA.

[jacquesm]

Better is always the enemy of good enough. If you hold out forever waiting for 'better' to come along you might end up with nothing.

So, if you decide to go for the first one, stick with it, tough it out and make it count. Remember that if you are looking for long term relationships that there always will be a better. Then when something much better comes along (not just a bit better) make your move with proper notice given.

I know it's a dog-eat-dog culture out there, but especially in the current climate a reference (a good one) can make all the difference between getting the next gig or being on the dole.

This goes against the grain, no doubt, but I've found that in the long term the more ethical people come out on top. After all, there are only so many bridges you can burn, a CV with a bunch of holes in it does not look very good and it is a smaller world than you probably think it is.

If and when a much better offer comes along you can always give your current employer the chance to match it. That way if they can't match it they will know that they lost to a party they could not outbid, they're not going to blame you for moving up. But they will blame you for not showing up when you first accept. After all, what's to stop you from doing that again and again ?

[luminary → jacquesm]

Thanks a lot, jacquesm. Well said. I agree with you that given the current economic situation, it would be wise to accept whoever offers first than play cat-n-mouse games.

[donaldc]

You're thinking too defensively. Start by trying to get the jobs/internships you're really interested in. When it gets down to only a few months before you'll need a job, then begin to consider settling.

Lining up a job in October that's not going to start until more than six months later seems like it would have risks of its own. Company priorities, finances, and even ownership can all change in that time, possibly affecting your offer.

[russell]

There are no particular ethical or legal issues involved in turning down an offer after accepting it, although you have burned your bridges with that company. (IANAL) It goes both ways. Companies occasionally rescind offers and usually there is nothing you can do about it. From the employer's point of view it is annoying to have someone not show up. It has happened to me. You just live with it.

[duncanj]

A decent long-range offer should have a signing bonus for quick acceptance, that you lose if you take your time accepting it.

[DanielStraight]

Tell them "I'll get back to you in a week." You aren't required to accept offers on the spot.

[prodigal_erik → DanielStraight]

That's quite a gamble to make when you have an interesting offer in hand. Some will turn you away simply because you've demonstrated that they aren't your first choice, others will keep holding interviews and get a dozen chances to find a more excited candidate. Every offer I've ever had gave me just a day to decide, though I've never tried to negotiate more time.

[luminary → DanielStraight]

Thanks. I'm worried what if the next offer shows up after a month - then I guess it would be too late to decline a prior offer.