Waitlisted by BCG - Thoughts?
So I had my final round with BCG a few days ago and received a call from them saying that I was waitlisted. They said I needed to wait for a few weeks to hear a final decision. It's a smaller office located in a city where only two of the MBB have their offices in. I know I should move on, but I would greatly appreciate it if someone could share any insight related to my situation. Is my chance slim?
Thanks in advance!
Edit: How common is it to find yourself on a waitlist? I have not even heard of such a thing days ago.
Edit 2: No, lying is bad, even if there is no repercussion (there likely is). Not trying to portray myself as a man of high morals, but I wouldn't lie for a potential job offer.
Pretend you have an offer from the other MBB in the same city but claim BCG is your first choice by far.
No downside if they say no.
No? HR doesn’t do that. No one blows up your spot like that especially in FT recruiting.
bro that is the worst piece of advice I have ever heard lol. do NOT do that; if they found out you lied you will go from a maybe to a definite no.
No, I am not gonna lie. I know many people will do everything they can to get an offer, and I would not say they are wrong if that is their only goal. Still, it's unprofessional and unethical.
The reality is it's basically a definite no already. That's just how low the chances of getting off the waitlist are basically.
Do NOT do this. HR 100% does reach out and there have been people that tried this and ended up blacklisted from the industry. The industry is incredibly small, the interviewers, HR or Partners know people at the other MBB can easily verify if you have been extended an offer. They may also easily ask for proof (often redacted of sensitive info). This may be an email, offer letter, or confirmation from the HR contact that you've received the offer (happened to me) so they don't have to waste time keeping you on the wait list if you have a standing offer.
There was an infamous story of some guy who worked on commercial side of BofA and managed to not only lie about getting a return offer, but misspelled the Bank's name when he tried to "leverage the offer" with JP Morgan. Every other bank in US heard about it.
No, I will not lie to them, as I said on my previous reply. Thank you for your input.
I think college kids as a whole have a much greater fear of this than is the reality. I was deathly afraid of pulling a stunt like this in undergrad and FT grad recruiting as well. That story about the BofA dude was a hilarious case around the financial crisis period and yeah literally everyone saw that e-mail thread, but that dude was crazy if you saw his linkedin. Amazing, I don't even remember if they asked for the proof of offer or if he just offered it up and fucked it up.
HR and the actual consultants CAN certainly call up and check to see if you're lying, but they 100% don't 100% of the time. The industry is small yeah but it's not like MBB work on joint mandates and projects. They're not best buds with their counterparts at rival firms. HR also doesn't naturally interact - you don't see the MBB HR team go for joint drinks and teambuilding sessions and shit. They don't shoot the shit after career fairs at each other's booths.
OP - don't do it if you don't want - no skin off my bones. Ethics or not, it's one tactic. You can even just refuse to specify the firm and say one of the other top consulting firms in the area etc. and that you don't want to disclose for privacy sake. This is very common in the hedge fund world and tech world not revealing where you have a competing offer from. Maybe you feel like you don't have any leverage as an entry level kid, but they won't/can't push you and at the very least it forces them to give you a response with the knowledge you're a wanted candidate. The reality is there isn't much you can do at this point to actively improve your circumstances.
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