If I was a second or third choice candidate for a role, and ultimately got an offer, is it fair game to inquire with the recruiter as to why the initial candidates declined? And should this fact weigh into my decision process?

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You can ask but they likely won’t tell you and they may also not know. Could be that the place is toxic or low balling but the candidates who declined might have said they have another offer. If you have concerns I’d try to find someone who recently worked there who you can ask.

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