backing out of contract

Started by deleted319231
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deleted319231

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what happens if i back out my contract with CVS early. I didn't get a sign on bonus or anything. Is there a penalty?
 
Even with a contract, you can be fired, so you that means you have the right to quit, too. Are you going to give a 2 week notice? Do you have another job lined up?
 
what happens if i back out my contract with CVS early. I didn't get a sign on bonus or anything. Is there a penalty?

No, but just dont burn a bridge...the pharmacy community is a very small community...Quit and be done with it...dont look back...dont regret...
 
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You signed a contract? If you did, please read it carefully. If there is anything that is the least bit unclear, please consult an attorney. Please give plenty of notice and act professionally. Tell them you appreciate everything, but you got an offer that was better for you.
 
You signed a contract? If you did, please read it carefully. If there is anything that is the least bit unclear, please consult an attorney. Please give plenty of notice and act professionally. Tell them you appreciate everything, but you got an offer that was better for you.

always gotta say it better, dont ya! LOL
 
what happens if i back out my contract with CVS early. I didn't get a sign on bonus or anything. Is there a penalty?

yeah, sure...the penalty is that you'll have no job in future since someone else will jump right in and take it...as simple as that.
 
I just got my license renewed, and I noted on there it said Licensed since 1982. That's a long friggin time..... I was there when the brought the dirt in....
My parents weren't even married in 1982. And back then, I guess marriage came before childbearing.
 
I just got my license renewed, and I noted on there it said Licensed since 1982. That's a long friggin time..... I was there when the brought the dirt in....

Your still a rookie. 1982...just a baby. I worked with a staffing agency pharmacist a few years ago that had been continuously licensed since 1952. He had the 4th oldest active license in the state. Now that is an OldTimer...You you just a rookie still!
 
what happens if i back out my contract with CVS early. I didn't get a sign on bonus or anything. Is there a penalty?

Couldn't that be answered by reading the contract? Anyway, even if there is no penalty, good luck getting a reference from them later.
 
What could they possible hold you to, especially if you did not take a sign on bonus?

I actually encountered this same situation earlier this year after graduation in May. I signed on with Walgreen's and took over 10k from them as an incentive. I was lucky enough to snag a better job a month or so later, and as bad as I felt doing so, I said holla to Walgreens... Luckily I had not spent any of the money, and I am in the same fiscal year, so all I had to pay back was the portion that I received after taxes.

Now, keep in mind they were still training me, and I didn't get the luxury of putting in my two weeks notice, so this is probably a bit detrimental to my record looking at it from a certain perspective, but you gotta do what you gotta do.

It may make you feel bad at first, but you are not married to the place! You gotta do what's best for you (and your family)!
 
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For 2010, $5K for all interns and more for rural places. If you are not a CVS intern, then there is no bonus unless you go to rural places that they can't get anyone. I know someone that got a $20K sign on bonus for a 2-year contract.
 
Guess I was wrong and that is an awful offer. Hope you didn't take it. Walgreens offers $30,000 for a 3-year. I didn't even take a one-year bonus and it's because I've been with CVS and I know what to expect and I didn't want to be stuck and am I glad I didn't take it.
 
Has anyone in the class of 2011 received an Early Committ Letter from CVS in the mail yet?? I interviewed for a pharmacist position in August and the DM said it went great. We started filling out the paperwork in his office and he said it would be arriving "soon" but nothing yet... Just wondering if anyone else was still waiting. Thanks!
 
Has anyone in the class of 2011 received an Early Committ Letter from CVS in the mail yet?? I interviewed for a pharmacist position in August and the DM said it went great. We started filling out the paperwork in his office and he said it would be arriving "soon" but nothing yet... Just wondering if anyone else was still waiting. Thanks!

Yes, interns should have recieved their early commitment letter already. I believe the letters has to be signed by November or it wont be valid. Talk to your supervisor.
 
Yes, interns should have recieved their early commitment letter already. I believe the letters has to be signed by November or it wont be valid. Talk to your supervisor.

How do you know by November if it's what you want to do when you still have rotations to do and other job offers that you may receive?
 
How do you know by November if it's what you want to do when you still have rotations to do and other job offers that you may receive?

If you have time to consider your decision, you probably wouldn't pick CVS. Conversely, those that have interned / worked with CVS forever are likely to stick with a company they know/trust.

Pick your favorite reason.
 
Be forewarned though... CVS will terminate you almost immediately if you do not sign the contract when they ask you to.

If you are going to sign and they take you out for your sign on dinner, choose someplace really nice.
 
If you did not get anything out of the contract, the contract is void. Both sides must receive something for a contract to be valid, i.e. consideration.