Private Credit Analyst Job offer - London
I interviewed at a credit Hedge fund based in London. I started interviews in December 2024. I had 5 rounds of interviews and the team took me out to dinner after my final round in February 2025. I received a verbal offer to join but have not yet received my contract, I was told I will join when they close their next fund in the next 3-6 months as the job offer is contingent on the new fund. It is now September 25 and I have not received my contract. Should I just move on? They have reached out and said there has been delays in closing the new fund but it is nearly 12 months since interviewing and I have not joined. Has anyone else ever had this experience or similar?
Based on the most helpful WSO content, your situation is not uncommon, especially in the world of credit hedge funds where hiring can be contingent on fund closings or other operational factors. However, waiting nearly 12 months without a formal contract is a significant red flag. Here’s what you should consider:
Delays Are Common, But This Is Excessive: While delays in fund closings are not unusual, a 12-month gap since your interviews is far beyond the norm. This could indicate deeper issues with the fund's operations or priorities.
No Contract, No Commitment: Without a signed contract, you are not officially employed, and the verbal offer holds little weight. This leaves you in a precarious position, as there is no legal or formal obligation on their part.
Time to Move On: It’s essential to prioritize your career progression. If you’ve been waiting this long without clarity, it’s time to actively pursue other opportunities. You can still keep the door open with this fund, but don’t let it hold you back.
Communicate Clearly: If you haven’t already, reach out to the team for a final update. Politely but firmly ask for a clear timeline or confirmation of the offer. If they cannot provide this, it’s a strong signal to move on.
Similar Experiences: Other WSO users have shared similar stories where delays in hiring processes or contingent offers led to frustration. The general advice is to always keep exploring other opportunities and not to rely solely on a verbal or contingent offer.
In summary, while it’s understandable to want to wait for a promising opportunity, the lack of a contract and the extended timeline suggest it’s time to focus on other roles. Keep networking and applying elsewhere while maintaining professional communication with the hedge fund.
Sources: Employment Dilemma, https://www.wallstreetoasis.com/forum/job-search/bluffing-a-job-offer?customgpt=1, Burned Out - Quitting w/o an offer?, https://www.wallstreetoasis.com/forum/private-equity/leave-pe-early-or-stick-it-out-2-years?customgpt=1, https://www.wallstreetoasis.com/forum/investment-banking/how-do-you-handle-an-exploding-offer?customgpt=1
Just move on, get another offer and force their hand
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