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Offer deadline

 
#1 Offer deadline
06/06/2007 12:24

RJ

Hi All,

Being in the middle of applying with several consulting firms in the Netherlands, I have a hypothetical issue I would like to discuss. Assume one receives an offer from one firm, while still being in the interviewing process with other firms. What would be a normal deadline given by a firm for letting them know whether coming on board or not? And if necessary, what kind of extensions would be discussable?

Appreciate your input.

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#2 RE: Offer deadline
06/06/2007 12:35

anon to RJ (#1)

Usually it's quite quick, they expect an answer in 1-2 weeks. Extensions at my firm can go to 1 week, though you need a good excuse as otherwise it looks like you're not committed and they may very well rescind the offer.

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#3 RE: Offer deadline
06/06/2007 12:39

Mars A Day to RJ (#1)

Strictly speaking, an offer with a hard deadline (an 'exploding offer') is unusual in consulting, although far more common in banking. The critical point, as anon has pointed out, is how and for what reason you delay accepting which can be tricky if it creates the impression you are not committed. Best thing to do is to tell the companies you are still interviewing with that ytou already have an offer on the table and sop they will have to accelerate their process to stay in contention! Although companies can and do rescind offers, most are loathe to do so - its a waste of time and expense in getting to that stage, is disappointing for everyone, and can in some instances leave the rescinding company in legal hot water.

Worst case scenario: until you actually set foot on the property of the hiring company after signing the contract, you are not bound by its terms and can withdraw your acceptance of an offer if necessary.

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#4 RE: Offer deadline
06/06/2007 13:43

RJ to Mars A Day (#3)

Right, thanks for your comments. I understand the issue of seeming not committed when delaying the acceptance of an offer. The strongest argument I could think of would be wishing to make a well-thought decision by looking around. Of course, it would be fair to at least let the offering firm know early on your not putting your eggs in one basket, which to me is something that has to be respected by the other side as well.

So basically it comes down to managing the agenda and aligning the progress of the separate processes. And to play the strategic game well so as to hurt no one’s feelings, while making sure to keep your options open.

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#5 RE: Offer deadline
06/06/2007 14:41

old codger to RJ (#4)

In my experience the best thing to do always is to accept the offer in writing, leaving your projected start date a way ahead, unless you have already received another firm offer in writing which you prefer to accept.

Then if another more preferable possibility which you are waiting for comes up (i.e. you receive a formal offer in writing) you can make excuses and explain that you will not be able to start after all with the first one.

What you all need to remember in your careers now is that there is no genuine corporate loyalty any longer, in either direction. Employers have destroyed that generally. All consultancy employers ultimately look at you as a profit contribution centre. They will take you on solely on a whim if it suits them and they can see having a good mark-up out of you. They will drop you like a hot cake in any downturn or economic storm, because they do not want to have continue paying you to sit on the bench. You are just a chattle for them to use for charge-out. Very few consultancies seem any longer to understand that their consultants are their most valuable coporate asset, and the larger they are the less they have any understanding of that, and usually now none at all. It has become all a matter of short-term opportunism, and once you become over 45 or so they will have no compunction about ditching you if it suits them, so that you will then probably be permanently excluded from management consultancy per se. (Don't believe that the ageism legislation will make any difference, because it will not.)

It has become a matter of making hay whilst the sun shines. Make as much as you can as soon as possible, before the sun stops shining, which it will. You must become as utterly ruthless with potential employers as they have become with their employees, otherwise you will just allow them to trample all over you.

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#6 RE: Offer deadline
07/06/2007 08:38

anon to RJ (#1)

Sad words of expereince...

Another tactic, to settting a late start date, would be to spin out negotiations over pay, T&Cs etc, by snail mail - might buy a bit of time while you speed up the other interview.

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#7 RE: Offer deadline
08/06/2007 20:31

Taxman to old codger (#5)

I have never met a consultant over 45 years old, do they exist?

Yes your job is going to India has had the most pleasing effects on the salaries of those who can :)

For others, well not so good.

You SHOULD always change jobs once every 3 years or you will be underpaying yourself.

When you look at your package look at YOUR SALARY

NOTHING ELSE no TOTAL BENEFIT or SUPERPACKAGE as these are not taken into consideration by banks?

Why?

They are of NO value, mean nothing!

If your offeredf a final salary pension which I may add ALL big comnpanies still offer then thats a decent benefit, as youll need it once your 50.

But by all means kid yourself on that your paltry 43K in london + healthcare in Hounslow General is super de duper, just more for the rest of us who can actually negotiate.

I have moved companies a few times and have always matched my final salary pension, even in companies that say they dont have one.

43K in London and do you share a toilet roll with someone? Says it all really!

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#8 RE: Offer deadline
10/06/2007 08:07

RJ to Taxman (#7)

Relevant answer for the question in this thread...

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#9 RE: Offer deadline
10/06/2007 19:52

anon to RJ (#8)

not all companies offer final salary schemes. my company's is closed to new joiners

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