I know the bigger companies do such as BofA, GS, JPM, etc. since they have departments dedicated to this, but how does it work for much smaller firms such as boutiques.
I am asking because I am applying around to other places, but it would be horrible if I have to pay for flight considering I am looking to move from the South to the Northeast. If I do interviews with several companies, my wallet is going to take a serious beating. I know there are many of you that have experience with this, did the companies pay for your flights? I know it varies by company as well.
Some do, particularly the larger banks. Some dont however, an example being a firm which I interviewed at on the other side of the country, which didn't want to pay for transport because they had strong local candidates, so I had to make the trek on my own dime. Just try to do multiple interviews per visit, and network if you can. That will make it more efficient.
Wow, can't believe you spent the money on the flight, I am assuming you didn't get the offer? The idea of doing multiple interviews per visit is a good idea but its not feasible. Taking off from work will be difficult, my team has no idea I am looking at other places. In addition to this, the economy is rough, I don't think I will have the opportunity to schedule interviews back to back since its up to the employers to decide.
Still in the process now for that place actually. Hoping Ill get the offer, its a good firm. Just happens that they are in a financial hub where there are a lot of professionals in the field. Its not easy for me either, but the way I look at it is that it would be a greater cost to me in the long run if I had this opportunity presented to me but didn't take it up, and if I was able to get an offer. The short term cost would be negligible, and I would feel regret for not having taken up the opportunity if I dont get another opportunity like it in the future. Feel your pain dude.
At lot of the smaller firms will ask you to pay for travel if they have good local candidates. For the most part the brand names will pay for your travel, though. Personally, unless it's an AMAZING opportunity, a firm not paying for my travel is generally a no-go for me. It means they are either cutting at the margins, which doesn't tell me good things about the firm, or they don't like me enough to really care all that much if I come out. And either way it seems more prudent to continue looking and stay with my current work.
Agree with the point that AllDay makes...if the group wants to meet you, they'll foot the bill for your flight. Boutique firms have paid for my interviewing related travel before and so have the big banks. Whether its a boutique or big name, if they are taking you seriously then spending a few hundred dollars in order to further evaluate you shouldn't even be a question in their mind.
some say they do and then don't reimburse cough accenture cough
I heard Accenture says they reimburse and then don't
seabird, how did you get the interview in the first place? Was this via your personal network or through a headhunter? Particularly interested if it was the latter as I thought not being located in the target city already was a tough per-interview sale, especially if the opportunity is in a hub with a lot of qualified candidates.
Head hunter. And yes, a hub. Regarding IDR's point, its a mid sized fund ($1b) w/ a 10+ year track record, so it seems pretty legit. I think its much more common with large firms that have large HR budgets, that take on lots of analysts, specifically the banks and consulting firms and less so investment funds that run leaner.
If you don't get reimbursed by any firm, regardless if its a boutique or a huge financial services firm, that is ridiculously messed up.
I've flown to big and small shops from the southeast to the west coast, northeast, midwest, etc, and they all paid. It should not even be an issue for [legitimate] firms that are looking for real talent.
Kind of related question, I went through recruiting roughly 2 months ago and more or less just forgot to send my receipts in to 3 firms (2 rejected, 1 accepted), is there a certain time limit on reimbursements?
If it's through a headhunter and you aren't getting it paid for that's bad. Most legitimate headhunters won't stand for that. It also shouldn't be happening after analyst level. At the analyst level you are far more of a commodity, so it's more understandable. But it's pretty unacceptable beyond that.
BofA has enough money to pay ppl back for recruiting expenses???...JK
they should be paying you by either connecting you to a travel agent that the firm uses, or just ask you to pay and you can send it to them later for a check/refund. if its a respectable firm and not a no-name boutique, they will/should cover.
I'm from the west coast and Ernst & Young paid for my airline ticket ($800) and one night stay at a Marriot ($800) for an interview. Not bad huh. Unfortunately, I didn't get the job.
The Marriot was just off Broadway (Times Square). Not only that, but I managed to stay in NY for 10 days instead of flying home the next day.
http://www.marriott.com/reservation/availabilityCalendar.mi
Did you stay in a suite? It's inconsequential, but it just stuck out to me because it's so out there.
Any legit opportunity will pay for travel. If they're not willing to shell out a few hundred bucks to get a candidate in to interview imagine what else they skimp on. I interviewed with a small-ish buy-side firm last spring and they paid for travel.
I haven't read the other comments, but would like to say that most banks (good banks) will pay for your interviews. This includes MM. I don't have experience with and boutiques, but a friend of mine recently was flown to Florida for a boutique. I had a surprising instance where a BB bank said that non core students would come down for a "non-core" super day to the office, but they did not mention that they would not be paying for it. I wouldn't worry too much about this instance. For those that were further away could do phone interviews.
To the above posters, can you get reimbursed for a long drive (given that the firm is legit)? I had to drive 4 hours for an interview once and cost about $65 in gas and I had to pay.
that's just silly.
at one firm i got 50c/mile
When Ive been reimbursed for driving, it was at 55 cents per mile. This was because it was a 3 hour trip each way, It was the only time I was ever reimbursed for traveling expenses.
Yea Marriots are not $800, now if it was the Ritz, thats another story
Interview expenses (Originally Posted: 02/21/2010)
Do the prop firms typically pay for your interview expenses if you are visiting from out of state ?
Thanks.
I cannot speak specifically for Prop firms, but in general, most places reimburse you if they invite you to come in to interview.
++++1
Every bank that has invited me so far has flown me up. They don't cover accommodations (unless it's a multi day thing) or food though, only transportation.
good prop firms treat you well, much better than banks.
I am also curious. I was suppose to fly out to Chicago for my final round with a prop firm but they said it was quite expensive ($1K +) and want to have another phone interview before biting the bullet and flying me out. Obviously I am not pumped about this but I have to play ball. The feedback I got from my last interview was that I had the personality and quick math skills but that I lacked industry knowledge. How in depth should my industry knowledge be for a college senior? Sorry to be off topic, but I thought that this thread might offer some insight.
Most banks will cover flight + taxis and certain allotment for meals
So far, every firm I've interviewed with has booked the plane tickets for me and a hotel if more than one day.
Most also covered taxis to and from hotel, and one covered food too.
But yea, this is what I'm worried about too, especially now that I'm applying for companies in Asia.
Does the bank usually pay for the air ticket and hotel? (Originally Posted: 03/05/2010)
So i got invited to the final round in NYC (i am in California) Does the bank usually pay for the air ticket and hotel?
Typically the BBs do. But they should've gotten in touch with you about that by now.
Yes, it is one of the perks.
eliteculture - i like your sig. But Shia LeBeouf disagrees.
Yup, Superday Air/Hotel expenses should be covered, as well as any incidentals.
I had an interview with a BB in NYC and they only payed for my airfare, transportation, and incidentals. I was on my own for hotel. My other experiences were inline with the monkeys above however.
Sometimes the firms want you to fly up in the AM, therefore no hotel provided. If overnight is needed, they should pay.
in my experience, firms paid for both airfare, travel to and from airport and hotel stay (though they tend to be anal about meals etc)
Coming out of undergrad I never had an issue with companies paying for airfare, hotel, meals, taxis, etc. This is from banks, to consulting firms, to F500 firms.
I have done the fly out AM fly back PM, and in that case you can't expect for someone to pay for hotel.
Cost of Transportation for superday? (Originally Posted: 01/18/2008)
I got an email from the recruiter for a superday (my second round after phone interviews) next friday in NYC. However, since I am studying abroad in London, I would need to get round trip plane tickets.
Does the bank cover the transportation cost? If not, should I pay to attend? It is quite about $550. Although not much, but for a college student like me and living in London.. it is quite a bit...
Thanks
Do they know you are studying abroad in London? It sounds absurb to make a college student travel overseas for a 2 hour interview. I think you should remind the recruiter you are studying abroad and than go from there.
exactly as the first commenter said. im sure that they'll let you have a conference call at least.
I disagree. I was invited back for a Superday at a BB and was told I HAD to attend the superday, on site. I am studying with semester at sea and coming back would require me to travel from Puerto Rico back to New York, then back from New York, through Miami, through Rio and to Salvador Brazil. And I would have to miss 6 days of classes. Semester at Sea also wouldn't ALLOW me to come back because of insurance issues. I explained this and they wouldn't budge, wouldnt bring me in early, or let me do it on the phone. Talk to the recruiter, but in my experience, they require you to be there.
if your coming from anywhere out of town they should cover the cost if they are requiring you attend. atleast thats what it has been in my case hotel included
Should I ask for a hotel? (Originally Posted: 01/22/2013)
I have a superday coming up soon. I need to be at the bank's office in New York at 8:00am, so I guess I'd want to reach the airport in NY by about 6:00am. I'll be leaving from Chicago, so it's a 2-hour flight.
HR offered to help me book the flight and hotel if necessary. Does this situation warrant a hotel night?
Not at a bank, but seems very reasonable, if you're coming in from out of town for an 8 AM Superday...I know no one would bat an eye at that at my firm.
You'd have to either do a lot of coke, or wake up at 3am and fuck up your superday... This is a dumb question.
It is not a dumb question. You could certainly pull off waking up at 3 am and crush a superday, so long as you planned far enough in ahead and cared enough to follow through.
That said, I think that requesting a hotel is totally reasonable in this case, no question.
Absolutely get a hotel. It's completely reasonable and there is no reason to add more stress to a superday by traveling all morning.
Thanks guys! BTBanker, I realise it's a kinda naive question but it's my first superday so I'm a bit nervous. Plus bankers are supposed to suck it up, right?
ask for a hotel. trust me, you don't want to get up at 4:00-5:00AM and fly out at 6:00AM to get there before 8. this is from first hand experience
Get the hotel, you don't want to be in zombie mode for the interviews.
Get the hotel. Only HR will know you got a hotel and this doesn't impact the ultimate decision. Get the hotel and be well rested...will pay dividends
If they won't get you a hotel you don't want to work for them.
Do Firms Not Pay for Hotels? (Originally Posted: 11/04/2016)
Do firms no longer pay to put you up in a hotel for Superdays? Call me entitled but I find it ridiculous that certain firms refuse to pay for any housing accommodations regardless of where they fly/bus you in from. At my last superday I was forced to buy an AirBnb the night before for my interview which wasn't even late in the day. Do these firms just expect students to take a 6:00 A.M. flight to JFK, interview for 3 hours and then immediately fly back that same night? Though I thankfully did not have to fly in I still feel awful for those who are out of state that are forced to do that.
I feel that it hurts both the interviewees and the firm itself on that end. Compared to bulge brackets where they treat their interviewees well and accommodate them for a night it definitely paints a picture that some of these firms are stingy or cheap even when they can most definitely afford to do so. In addition I'm sure that the students who have to wake up in suits and catch red-eyes only to go through hours of interviews (which are grueling themselves) are not performing their best. I feel that this creates this barrier between those who can afford to find a place to stay, rest and give it their best and those who cannot afford such 'luxuries.'
I'm curious to hear your thoughts; are bulge brackets the only firms that traditionally put people up for the night or has this lack of housing been a recent trend? Conversely, is this unique to only a few firms? I have friends at many other places who also receive no housing accommodations. Not trying to sound spoiled, but I am just genuinely surprised that this seems to be common within this industry.
I know my MM pays for hotels and travel, or at least they did when I did recruiting. Can't speak for any others really.
The vast majority of reputable firms do. Though if they think you can easily take a 1 hour flight at 7am and another out at 7pm, many will push you to that, and that's really not a big deal (MDs often do the same shit for client meetings).
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