Lateral IB offer - "pending approvals" meaning
Hey all! Quick question - recently received an offer to do IB at a bulge bracket bank in a tier 2 city. This offer is still waiting on final approval though - it's only been a few days but wondering if anyone has any insight over what this typically entails? Just a bit paranoid lol - thanks!
Based on the most helpful WSO content, "pending approvals" typically means that your offer is going through the internal approval process at the bank. This can involve several steps, such as:
It's normal for this process to take a few days or even weeks, depending on the bank's internal procedures. If it's a bulge bracket bank, the process might involve multiple layers of approval, especially for lateral hires. While it’s natural to feel anxious, delays are often procedural rather than indicative of any issues. If it stretches beyond a reasonable timeframe, you can politely follow up with your recruiter or HR contact for an update.
Sources: Official Investment Banking Rankings: Boutique and Bulge Bracket Prestige, Q&A: 2nd Year IB Analyst at a Bulge Bracket, Official Investment Banking Rankings: Boutique and Bulge Bracket Prestige, Best Investment Banks, Lateraling Guide for Investment Banking
Normally it’s HR headcount and final approval
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