Nancy Newman writes for the American Lawyer about a disturbing trend she sees — candidates accepting counteroffers. She warns about some potential consequences of accepting a counteroffer after already accepting a position at a new firm:
"The following are consequences of revoking an acceptance to an offer:
This is a reputation issue—you are a lawyer and gave your word in writing and now you are revoking, going back, on your promise.
The company you were considering joining may already have told other excellent candidates that the position is filled, and now may be forced to begin the search anew instead of moving to the next candidate. Burned bridge.
This revocation may follow you into the future in unforeseen ways as the act of revocation generally speaks to character. Remember, the legal community is small and word travels.
Recognize that your current employer is giving you a counteroffer because someone else recognizes your value. As you become more senior in your career, other offers may not come your way. Ask yourself, if the only way to get the raise/promotion you deserve is through a counteroffer, do you want to spend/invest your future with this company?"
In our decades of experience recruiting in the legal industry, we have seen every type of counteroffer. One image we often use is that of a hostage situation — if you have to threaten your current firm in order to get a raise, essentially hold them hostage with the threat of you leaving, then what will that do to your relationship with the firm into the future? Accepting a counteroffer is often an illogical and emotional reaction that makes a difficult situation even worse.
We always appreciate the chance to share our experience and consult with attorneys who are looking to make a change. If we can help you in any way, please feel free to reach out.
For the full article at law.com, click here.