Wednesday, April 23, 2008

Bear Stearns Rescinds Job Offers to Class of 2008

More than 10 upcoming graduates from New York University had their job offers from Bear Stearns rescinded in April after the much publicized meltdown of the 85 year old company.

Business Week reports that "students with offers in some units such as asset management, commodities, prime brokerage, and portions of fixed income and sales—areas that JP Morgan wants to strengthen—will likely get to stay on with the company".

What do you do when a company pulls back a job offer?

1. Continue to be professional with all your communications with the company.
2. Ask if the recruiters can make a recommendation or offer leads to alternative opportunities.
3. Modify your career focus if your first choice industry is experiencing problems.

Here are a few great articles to help:
- Revoked Job Offer
- Getting Over a Shock Split
- Nine Things You Need to Know About Rescinded Job Offers

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