I'm in a bit of a sticky situation and I'd like some advice. I waited so long because I've been trying to get a clear answer from the career center at my school, but have been unable to do so.
Back in November I applied for a software engineering position with a small, local company (let's call them Company B). I'm currently a senior and I do have previous internship experience in software engineering with a fortune 500 company who will remain nameless (Company A). The pay at Company A was $19.75/hour and I was offered $21.50/hour if I decided to return the following summer. For various reasons I chose not to return.
With that said, Company B accepted me and sent me an offer letter. Here's where it gets sticky. The offer was sent out on December 23rd according to the shipping label and I received it the following day, Christmas Eve. The offer was for $15/hour and more importantly, gave me until New Years Eve to respond. The problem is that the office itself was closed until January 6th, so there was nobody I could call to negotiate the terms of the offer until after the deadline. Needless to say, I felt pressured to sign even though I did not like the terms of the offer.
Now, I understand they are not a fortune 500 company and probably cannot afford to give me all the perks and relatively high wage I received previously and I don't expect them to. The reason I applied to them in the first place was because they were local and I did not want to have to relocate again (with one exception which I'll get to later). It's the same reason I opted to commute to school rather than go away. However, I'd at least like to break even with my previous internship after relocation expenses are taken into consideration. For $15/hour I could make the same amount lifeguarding (and have more fun). Besides, I have a lot of experience in what I'll be doing with them (both from my previous internship and outside projects). My friend got an internship with their competitor (who is literally across the street) for $17.50/hour with no prior internship experience, little experience in software development, his GPA is far below mine, and he's a year behind me academically.
The other issue, and the more important one, is that I've applied to another fortune 500 company (who will also remain nameless, Company C, but is in a completely different industry than both Company A and Company B). I wasn't thrilled with my previous internship nor software engineering in general and I would like to explore my secondary major which I'm finding much more interesting and fun. The thing is, I feel as though I'm good at much of what I put my mind to, and I've got the grades and knowledge to prove it, but after working in the software engineering business, it's not something I can see myself enjoying in the future; I prefer math (my other major), finance, and operations research (which is what I'm focusing on in my math major). Company C is probably the only company I would consider relocating for at this point in time; I've wanted to work for them since I was a little kid (you can probably guess who it is by now) and the only thing I would want more than working for them is the opportunity to start my own business. And of course the position I applied for deals with my second major.
The issue here is that I'm waiting for a response from them and that may take a while. My resume is currently under review and I'm waiting for a call back for an interview. I already accepted the offer from Company B as you know and I could be waiting months for a response from Company C.
So basically, what I'm trying to figure out is how should I handle this situation? I'm not sure how I can politely ask Company B to re-open negotiations on my offer without offending them. Basically what I'm looking for is a small pay raise (I'm fine with making $17.50 an hour, but $15/hour is just too low to justify) and more importantly a couple months to decide so that I can see what Company C offers me. If I get something with Company C I'd be stupid not to take it, but I don't want to burn any bridges with Company B. I've got no intentions to return to Company A, so that's out of the picture.