This is my first time posting in WSO so apologies if this doesn’t follow forum etiquette or whatnot.
For a little context, I wrapped up an onsite for an engineering position at a small NYC HF (like 20-30 people?) 3 weeks ago - went really well, the last guy I spoke to said they’ll definitely reach out. Fast forward about a week and they reached out through the 3rd party recruiter I’ve been using telling me “Hey, we really liked you and you’re our top candidate - we just need to wrap up the remaining onsite pipeline before we make a decision” which seemed totally sensible to me. Fast forward another 2 weeks and it’s been complete radio silence, I’ve reached out to my recruiter but they were like “Oh this is normal, things are slower in August, you don’t want to annoy them, etc”.
Wondering if anyone has any insights here - is 2 weeks of radio silence really nothing to worry about, or should I just write it off/they’re using me as the backup hire if their actual top hire falls through? It’s not like this is my dream job or anything and I’ve got other processes going on, but it’s good enough that I would take the offer if given to me, I’m not close to wrapping up other processes, and the waiting game is just killing me. Thanks!
For small hedge funds (like the 20-30 person NYC fund you mentioned), hiring timelines can be unpredictable and vary significantly. Based on the most helpful WSO content, here are some insights:
August Slowdown: Your recruiter is correct that things tend to slow down in August. By late July, many funds shift focus towards bonuses and other internal matters, which can delay hiring decisions. This is especially true for smaller funds where hiring processes are less structured and more dependent on the availability of key decision-makers.
Pipeline Wrap-Up: It’s not uncommon for funds to take their time wrapping up the interview pipeline, especially if they’re considering multiple candidates. The fact that they communicated you’re their top candidate is a positive sign, but it doesn’t guarantee an immediate offer.
Radio Silence: Two weeks of no updates isn’t unusual in this context. Smaller funds often lack the formal HR processes of larger firms, and hiring decisions can be delayed due to internal priorities or even vacations during the summer months.
Backup Candidate Concern: While it’s natural to worry about being a backup, the lack of communication doesn’t necessarily mean that’s the case. Funds sometimes keep their options open until they’ve completed all interviews, but being labeled their "top candidate" suggests you’re in a strong position.
What You Can Do:
In summary, two weeks of silence isn’t necessarily a red flag, especially in August. Keep your options open, but don’t write this opportunity off just yet. Good luck!
Sources: Random Musings on the HF Interview Process, Random Musings on the HF Interview Process, On Cycle 2022 Debrief - My Experience, My Private Equity Recruiting Process, Recruitment Set Back To "Normal"
Not abnormal.
Any idea why/what have you seen? Very new to the HF world so 4 weeks from onsite to offer seems obscenely slow and a great way to lose potentially top tier candidates to other companies as someone who’s used to receiving a response either way within a few days after final round in tech and other finance companies.
In my experience, for smaller HF, unless somebody left or they are really short staffed, hiring tends to be slow in normal times.
Last 2 weeks is earnings season, don't think any fund is prioritising recruiting. Now earnings just wrapped up, maybe hol coming up? I've experienced similar situations myself, curious to hear others' experience too
That actually makes a lot of sense, it sounds like this was possibly the worst time to recruit and I’m probably not gonna hear anything back from them for the rest of the month then lol
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Bump, would love any more data points on this. It sounds like this is fairly normal at this time when everyone in the HF world is wrapping up a ton of work and then going on vacation - especially in a small HF which will definitely hinge on decision makers like the CTO.
Similar boat but for ER dream job/dream coverage group. has been radio silence for a week and a half now and I have had 8 interviews and a modeling test that they said i did very well on. they said they want me to meet with the lead analyst but have not reached out since. is this normal? the waiting might give me a stroke at this point.
Definitely feeling that, lol. My impression is that everyone’s on vacation these days, but since it’s been a week and a half of nothing I’d reach out to reiterate your interest and ask for a general timeline at least. Good luck!
Thanks boss. I reached back out late last week so just waiting now
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It can take a while. If people are on vacation it adds a lag.
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