My situation - what to do?
I emailed a senior director at a boutique private equity firm my resume and he emailed me back to schedule a time to meet. The meeting went very well and I had the opportunity to meet a couple of other senior directors at the firm during my initial visit to the company. At the time, the company did not have an openings but the director said he will keep me in mind about potential opportunities at the associate level. Approximately 7 months later, the senior director emailed me about a potential opportunity at the firm. I went back to the office and had a three hour interview, felt like I nailed the interview!! I suggested to the senior director I would welcome the opportunity to complete a deal screen including financial modeling, etc to give him an idea about my thought process and ability to do the job. After sending a thank you note, the hiring manager emailed me back saying his team will be in touch shortly. After signing a confidentiality agreement, I received an offering memorandum, financials and some research. The company wanted me to create a model to include CoC, IRR, various promote structures at the parent, JV and sponsor level for the transaction. I went above and beyong what was requested and also completed a deal screen to include positives, risks/issues, deal summary and concerns. I completed the work requested within 2 days (took me approximately 12 – 14 hours to complete the assignment that required very advanced financial modeling in excel for joint venture structures, promotes, etc). Two days later, the senior director emailed me that the company liked my work product and asked for my salary requirement. I emailed him back stating my salary requirement and asked about other benefits the company provides to employees. The executive director did not respond to my email and I followed up three days later asking the senior director if he had any questions. He responded later that friday evening apologizing for the delayed response; He said it was the company’s quarterly reporting season which has kept him slammed and that he was going out of town the following week, he suggested we meet the week after his trip to continue our conversation with no specific date provided. I emailed him to thank him for the update and that I look forward to coming back to their office. I followed up the Monday he said he would be back at the office to touch base about a convenient time to meet up, so far, it’s been 3 days and no response at all. I find it disturbing he met me twice, made me build a model and deal screen and tell me I did a good job to go silent! I really want this job and I am completely disturbed.
Is this a normal practice by some executives? Could this be due to my salary expectations? I would think a company would say something along the lines of, I am out of their salary range, etc or at least negotiate. I am very confused due to the situation. Any feedback or suggestion is kindly appreciated about next steps.
Thanks.
P.S. : apologies for any errors!
He is likely just busy after quarterly reporting and traveling for a week. Give him a day to catch up and the follow up again. It is obviously going well, just be patient and persistent
Dude, chill. This guy has his own list of priorities and when shit hits the fan, recruiting takes a back seat (especially when clients enter the picture). You really feel "disturbed" after only 72 hours?
I am freaking out because folks are getting shredded right and left at my current firm! I don't think a $180K MBA is worth! I had to postpone my acceptance letter to attend a top 10 MBA program due to the offer, need to let them know by next monday. That's 2K in the toilet if I get this gig! My boss has been pushing me to make a decision and I just BSed her again today, can't wait too much longer. I am making moves but things can turn upside town very quickly!!!
Have you explained your situation to the PE firm? Regardless, their radio silence has nothing to do with your salary requirement.
I know your situation is time critical but you can't panic. You're doing all the right things. Continue to follow up and be persistent but don't show any sense of panic to your prospective new employer. You may be in even more stressful situations on the job with them in the future.
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