How Do Firms Accelerate Hiring Process?
I'm curious about how firms accelerate their hiring process for a candidate with expiring offer. It wouldn't make sense if they accelerate their entire process for all candidates. But if they accelerate the process for just one candidate, how can they compare this candidate to the other applicants?
The answer is that very few firms actually do accelerate the offer-making process, even for candidates with exploding offers. That's why many banks (even buyside shops) try to preempt the process and get offers in candidates hands before their competition. If you do receive an accelerated decision, you can rest assured that you are a top candidate.
Can't really speak from the firm's point of view but can share my experience with accelerated hiring processes. I had a final interview with firm A on Monday of a recent week and had an exploding offer from firm B that expired that Friday. I told firm A about the exploding offer and asked if they might be able to expedite the process and they gave me an offer that Wednesday so I'd have two nights to compare the two offers.
I knew there were other candidates they were considering for the same position (they were looking to hire several people for their incoming class) but still extended me an offer for one of the spots they were looking to fill. I think most firms know very soon after a final round interview (probably immediately afterwards) if they want to extend an offer or not. If they need to accelerate the process, I think they do it just for the one candidate and evaluate the other candidates on their normal timeline. If there's only one position to fill, they'll probably only accelerate the process if they think the candidate is the best one. If there are several seats to fill (as in my case), they'll accelerate the process and send out an offer (if they like you, obviously) while still considering other candidates for the remaining seats.
This.
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