Turning down offer after accepting

[autrejour]

Hi all, in February I have been mead redundant and straight away applied for a few jobs. I am the main earner and finding a job was really important. I went to two interviews and one of the companies made me an offer pretty much straight away. I accepted as I like the job, it was a good offer but also I was desperate to secure a position.
A week later I receive an offer from the second company , great flexibility and the salary significantly higher than the first job.
I am desperate now to accept the second offer but to my shame I need to turn down the first offer which I have already accepted but no contract signed.
I feel really bad but the extra money would really help and I also like the job.
Would you please be so kind to help me compose the letter to turn down the first offer ? I am stressing and struggling as I feel really bad.
Thank You !!!

Don't worry too much, this happens quite often. You of course need to put yourself first and take the job that is the best overall, it would be silly to lose the extra money and flexibility. Yes the first company will be disappointed but at least you haven't started the job and then left a week or 2 later which also happens a lot! It's only been a week since you accepted and they haven't even issued your contract yet so it's not like loads of work doing your references and admin etc. is down the drain for them. It's probably not too late for them to offer the job to their second choice either, so not a disaster in any way for them.

However I think you need to be clear in your own mind whether you are treating this as a negotiation with company 1 (ie if they were prepared to match the salary and terms from company 2 would you stick with them?) or if you are 100% withdrawing? If the latter then you perhaps don't even need to say that you've been offered another job, I would keep it very short and simple, something along the lines of:

Dear Company 1,

Thank you for your kind offer of Job X. I am writing to inform you that unfortunately, due to a change in circumstances, I am withdrawing my application for the post. I apologise for any inconvenience caused.

Kind Regards

Autrejour

If however you would like to explore the possibility of them matching the salary then it would be slightly different, I would probably call rather than emailling and be very upfront and honest about the situation, you'd had this interview before accepting their offer but you now have the offer of £x more on the table and you feel it isn't something you could turn down, however you really like company 1 and is there anyway they could review the salary offer? Do NOT feel bad about asking this, it is completely fair and reasonable to do so. The worst that can happen is they say sorry, no, in which case you part ways amicably. I know talking money is awkward but don't sell yourself short.

Good luck!