Process timeline at fund
Hello, I recently went through a process at a mid sized equities fund. Did the usual process — interview with analysts, PM, case study, and debrief. HH told me I was only final candidate moved on after case study. Met BD as a “fit” check after being told PM signed off on me.
They were very responsive in initial rounds but after the fit round (was told mostly a formality) it’s been a month since I’ve heard back. PM was on vacation until this week (left as soon as I met with BD). Any idea if I should still have hope? HH told me they are still interested but no offer to give me yet but hopefully soon. Any thoughts? Worried since I haven’t heard back and literally can’t do banking any longer due to WLB issues.
Based on previous WSO threads, here's what you need to know:
Delayed Feedback is Common:
Stay in Touch:
Positive Signs:
Managing Expectations:
Insights from Similar Experiences:
Keep Hustling:
In summary, while the delay is understandably worrying, the positive feedback you've received so far is encouraging. Keep following up and stay proactive in your job search. Good luck!
Sources: Honestly it is feeling hopeless, Waiting For Official Offer For Two Months Already, Basic Questions About PE Recruiting Answered, Motivational Advice - Got the offer, no return offer
Bump anyone?
ps - changed job title etc to keep identity private
I mean...not sure asking here is really gonna help much? "Mid-sized equities fund" could be like 1 of 500 shops in midtown Manhattan alone. Just follow up with BD and ask what's up? Senior people with families tend to take vacation during the summer since kids aren't in school and then when they get back there's backlogged work to catch up with. That might be the case with this PM. Anything beyond that would be purely useless speculation. Ping BD or the analysts you spoke with to ask wtf is up. Best of luck
I would follow up directly with the PM this week and ask for an update. If no response, then I would assume the worst. Would be pretty shitty on their part to string you along this long and then ghost you
At my fund it takes months for a process to be complete with the time between offer and the final interview being the longest stage. Not the same for each fund obviously but I’d say don’t sweat it! Out of your control at this point
Sounds like a distraught process. Hope you got some closure at least at this point
Situations like this it's often they have another candidate they are waiting to hear from, thus why they are dragging their feet on you.
Could also be the PM's suffered a drawdown and has put hiring plans on hold or clearly it's not a priority for him right now.
If it's the former, one option to consider is to bluff that you have a competing offer so you need to know what they want to do. Of course you can tell them you found them a better fit so would accept if similar terms etc.. Not everyone is comfortable with this path, but I've seen it work several times in forcing the fund/PM to make up its mind and make a decision.
Definitely annoying as I was told by HH that they rejected everyone else, but I guess it’s either an internal candidate as you described or some issue with the fund itself. Unfortunately not at a stage where I am comfortable bluffing yet.. just started another process and hoping it wraps up soon to get there. Any other ways you think I can push to get an answer?
Might be tough, it seems like they are trying to work things out with the internal candidate . Internal candidates are very hard to compete with as an external hire.
Is this a place you would even want to work at? Based on what you've described thus far, it may be a blessing in disguise.
If you're not comfortable bluffing about another offer, you could easily just say you have a personal circumstance upcoming and would like to get an update on the timeline. I've seen people do this wrt their apt lease, etc.
Update - I was told that PM wants to meet for drinks since it's been a while since he was out and then make a decision soon after. Any thoughts? I know the usual drinks are more of a fit check, but I felt like I already had the sign-off from him and then did a fit check with BD a few weeks ago prior to his break, so I'm not sure what to expect here.
You're over thinking this. If this position is for you, it'll happen, if not, you'll find something else. That being said, I've had drinks/dinners with potential employers before that were either very casual or casual with an interview blended into it. Don't go in blind.
Itaque non architecto eum. Numquam ex et pariatur eos. Architecto veritatis soluta ut alias est aut nobis quo. Enim accusamus sit quia debitis sit aperiam quam.
Recusandae harum voluptas ut vitae architecto. Totam quia quis voluptatibus et voluptates dicta. Quos at in rerum et minima.
Exercitationem omnis corrupti veniam eos mollitia nostrum. Incidunt voluptas maiores non et eum quibusdam. Sapiente dolore voluptates ipsum excepturi iste. Enim aut voluptatem ut. Aliquid repellat iste animi et sit iure.
Error non qui porro quidem qui voluptas. Blanditiis suscipit quae doloribus voluptas nisi molestias modi. Placeat dolore voluptas laboriosam delectus ea. Voluptatibus eos repellendus beatae omnis. Dolor inventore sapiente ut veniam minima minus eos aliquid. Ea repellendus aut sit sint totam enim aut inventore.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...