Hey everyone, long-time watcher, but this is my first post here because I have a bit of a dilemma.
I was very fortunate to be offered a training contract offer from a good city firm a few weeks ago. They gave me a month to accept, which now expires in 1 week, as I've been sitting on it for a while. This is because I also have an upcoming vacation scheme which starts on Monday, for a firm I would significantly prefer to work for. I wasn't entirely sure if I was going to do the scheme, which is why I took so long. Now I definitely need to, as the firm has organised accommodation for me and I have booked travel, and I would really love to train there too.
The issue is, I don't think I'll find out about this second firm until at least early May. I have checked both contracts, and neither actually prohibits me from having already accepted a TC/doing another vac scheme. But I would still feel weird about reneging, and I don't know when they will commit to anything financially with enrolling on the GDL and whatnot.
In hindsight, I probably should have asked for an extension of the offer a while ago, but now that I haven't, I'm wondering if it's best to just accept and renege if I receive the other offer. They've been really bad at responding to emails in the past, so what if they don't get back to me with an extension by Friday, then I would have to accept, and they'd know exactly what I was doing anyway. If they reject the extension, would I then essentially be lying about doing the scheme? I'm leaning towards accept and renege, but that also feels wrong and I'm worried about any financial implications.
Really conflicted on what to do, and any advice would be really appreciated.
Hey!
Firstly, huge congratulations on the TC offer - that is amazing news!!
I hope that you celebrate this achievement, even if the situation feels slightly stressful right now.
I would agree with
@Bah Bah Pink Sheep and say that your first step should probably be to call the TC firm and ask if they are able to give you an extension until you hear back from the VS firm. Again, there's no guarantee whether they will, but at least you will know either way!
If not, the most practical way to approach it is likely to be to accept the training contract offer and then reassess your position after the vacation scheme. Letting a confirmed TC offer expire for the possibility of another one is a big risk - whilst I'm sure you have a good chance of being offered a TC after the VS (as you are clearly a strong candidate!), there are so many factors that go into those decisions that you never really know for sure.
I completely get why it feels uncomfortable to accept with the thought that you might renege later, but it helps to look at it from a commercial or long-term career perspective. Firms will make decisions in their own best interests all the time, and you are entitled to do the same with your career too. Of course, reneging isn't ideal, but it does happen and most firms will have experienced it before.
In terms of financial risk, I'd say it is usually minimal at this stage. Issues can arise once firms have started funding things like the GDL and SQE (i.e. clawback provisions), so I would definitely double-check your contract. However, if there is likely to be a bit of time between hearing back from the VS firm and starting the GDL, I'd say that you are unlikely to be exposed to anything significant (but definitely check with the firm / contract).
I would give the TC firm a call and see if they are able to extend the deadline, particularly if they are slow to responding to emails (trust me, I hate phone calls more than anyone, so I appreciate this might not be what you want to hear!). If not, I'd accept the TC offer and take part in the VS - you've earned your place there, and if you are really interested in the firm, you should absolutely make the most of the opportunity and aim for a TC offer. After the scheme, you can then make a decision on which firm is the best fit for you (+ the next steps).
Wishing you the best of luck with the scheme, and I hope you hear back from the TC firm soon!!
