Is it possible or common to have a company offer you a job but then rescind it? I’m so close to getting an offer but I’ve heard rumors that they could rescind the offer and so I’m worried about quitting my job.

In what scenarios would they rescind it?

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You have multiple questions here so I will try to answers all of them:
1) Is it possible? Yes is is always possible

2) Is it common? No

3) I am slightly confused if you received an offer yet either verbally or on paper. If you have not received a formal offer then there is not rescission needed.

4) I have been in the recruiting world for 30 years and always coach my friends and family to never quit their current job without, not only an offer, but the background fully cleared with the new company.

5) What scenarios they would rescind? This is complex but in simple terms, the two typical reasons for rescinding an offer are 1: business needs changed drastically and suddenly (VERY rare) OR 2: background did not clear.
Now there are numerous reason underneath these two but these are the primary ones I have seen consistently throughout my career.

I hope this help.

If I can ask, why do you feel they are going to rescind or not make an offer? What have you heard and from who?

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This is helpful.
I’ve just read posts on Glassdoor about rescinding it. Specifically from a person that was previously went through this at this company.

I am hearing it happen more and more often lately as the job market gets worse. Usually it's because the candidate tries to negotiate the salary and so the company rescinds the offer and offers it to the next candidate who is willing to take the lower salary. Whatever you do though, do not give your notice to your current job until you have a contract signed for a new job.

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Thanks. I thought negotiations were a normal part of the process and didn’t realize that companies would rescind because of that…

It's possible, but not super common. And usually they rescind an offer before you actually start the job, such as during salary negotiations.

Thank you!

Having a job offer rescinded wouldn't be a very common occurrence. I've heard of it happening when someone tried to negotiate for a higher salary and their demands were considered unserious. Some companies just don't have a lot of patience for people making what they see as unreasonable demands. The other thing that can get an offer yanked would be if something major turned up in a background check. But, again, that would be rare.

That’s unfortunate to hear about negotiating a higher salary. In this market, that’s the only incentive to really move jobs but I guess there are a lot of people also applying

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