PE Firms Need to Stop Calling to Reject

A couple b-school buddies and I have tallied some rejections over the phone the past few weeks and my humble request would be...just stop? This is PE-specific too: I get that shops are leaner / pride themselves a little bit more on culture and collegiality (at least the appearance thereof) than banks, which overwhelmingly reject over email, do, but this medium just doesn't make sense unless the following situations apply:

A) the caller and candidate have an authentic, usually outside, personal connection (not just "we like the same sports teams" from a coffee chat);

B) you're calling to offer some kind of *tangible* praise, opportunity, or information:

i) If you've genuinely terminated a search because of a hiring freeze, or are declining because the experience level for the search has genuinely changed (not just changed because the original scope "wasn't good enough"), then communicating that info over the phone instead of over email seems a little kinder / "sparing" of a candidate, though it's hard to describe why;

ii) if the candidate didn't make the cut but really connected with the team enough that you really want to differentiate IDK the "first four out" candidates from those who bombed the modeling test by calling them, then feel free to call and tell them that info. If you are calling only a selected few candidates, then it's nice for them to hear that they're on the right track, even if one process didn't work out. If you're calling everyone--prayers up for your schedule and it's weird for the last interaction with the candidate to leave them wondering whether you saw something in them or are really doing 40 of these over a week;

iii (or maybe ii-b)) if the candidate did make enough a good impression that you'd definitely want to see them in 6-12-18-24 months if the stars align, then it'd be helpful to hear that even if communicated subtly and with no promises. If you think the candidate might slot in well to another specific group or strategy or vertical and would recommend (and more importantly, can funnel them over if they accept) they pursue that process, that counts too;

C) you're ready and prepared with real feedback beyond "the cuts were tough." It doesn't even have to be "nasty" or all that constructive, but if there are genuine things regarding either interview performance or background that you would prefer not to write in a formal rejection email, candidates would rather have that information over the phone than omitted completely in a form email.

As a guiding principle, think about the factors that differentiate a call from an email: there's a lack of synchronicity between when a candidate gets your email or voicemail to set up the call and the message actually being delivered, there's a not-fun lag in the interim when the candidate wonders if they've been offered or advanced that might have them pause on networking or keep their next week relatively open in case it's good news, and both parties have to find a mutual time to pull themselves away from work, class, life stuff instead of sending and reading at their own leisure. None of those is back-breakingly tedious or stressful, but if you're going to do that to a candidate and yourself relative to an email, think about whether the actual content of the message offers something in my categories enough that justifies it not being an email.

17 Comments
 

Agreed. And like when either the headhunter or one of your interviewers emails you a 1-liner “do you have time to catch up?”
 

Dude, stop the cap it’s obviously a rejection, but now I have to fucking schedule a time for you to give me a call to tell me I’m rejected. there have been only 2 times I’ve appreciated it - once, I did really connect with the guy and he told me why they moved in another direction. The other time, it was a fucked scenario and the guy sincerely apologized and gave me as much feedback as he was “allowed to.”

 

Same goes for no–return offer calls. Just send an email since I'll never see any of of your again—no need wasting my time & promising later written feedback that will actually never come!

 
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You snowflakes will really complain about anything huh. Damned if we don’t call, damned if we do. Used to hear how firms don’t have any heart and are too impersonal and now y’all are too soft to schedule a phone call to hear a rejection? You have to “rearrange your life” to take a 5-min phone call? Also this is largely HR’s decision, not that of FO professionals. Bitching at us not gonna change shit

Yeah if a recruiter is wasting your time buzzing you repeatedly to schedule a simple call, that’s a waste of everyone’s time. The rest of us are just responding to complaints from years past and trying to be nice. I’m sure there are ppl out there who totally blow it and come across as a total time waster but I assure you that is not the intent. One phone call not gonna kill you. Kinda make sense given how fuckin socially awkward some of you Gen Z are, having grown up in the digital age and going through large portions of school virtually during covid. It’s understandable for sure, but really? Grow the fuck up. Maybe if you, idk, stopped hiding behind your iPhone screens and spoke to more people in both comfortable and uncomfortable situations, y’all would get better at networking and not sound like a bunch of stiffs during interviews.

 
Funniest

OP. I and all the friends I talked about are over the age of 30. None of us would think a rejection email is heartless or unacceptably impersonal, and I doubt "this generation" would either beyond the strawmans in your head. I find it very hard to believe that "complaints" from rejected applicants drove this behavior.

No one said anyone had to rearrange their life, that's a fake quote, and maybe you should understand that the issue here is about optimizing marginal efficiencies and marginal annoyances for everyone involved, a problem seniors in this industry are obsessed with.

Maybe if you understood that, you wouldn't be at a firm that's languished in the bottom two quartiles of the world the last decade and is addicted to shrinking its fund size. Maybe if you prioritized efficiency more, you'd be working or having fun (or insider trading like your predecessors) right now instead of shaking your fist at make-believe whippersnappers with two SAT essay-length paragraphs of self-therapy on Wall Street Oasis dot com.

 

That’s a lot of punches from a guy who took it upon himself to write well more than a midterm paper bitching about something on a forum where the people in charge of said practice (HR/HH) isn’t ever on? Talking about self therapy in WSO is rich coming from you lol. You’re the one who wheeled in the wahmbulance here sir

Also ty for your outsider commentary on how my fund is doing. Hope you’re saying this cuz you are joining a better dedicated biotech fund that is having fun raising money 2021-24. Maybe when you’re done with your job search and get out of bumblefuck HVAC rollup land you’ll understand that being a senior at a storied fund whose best years are behind it is actually a hack since I work 2/3 the hours of other sweatshops and get paid only a haircut less. Keep screaming at the skies, son. You’re going places!

 

I’m typically thrilled to hear that I’m officially no longer being considered for a role rather than being ghosted, regardless of the medium. It frees up my brain to think about other things rather than wondering if I’ll get to the next round, if I’ll have to travel for an interview, if I’d actually accept the role, etc.etc. You’ll likely get more feedback via a phone call than via email anyways, so you’re more likely to get an offer on the next one. We’re really complaining about the rejection medium now??

 

I literally just had this happen to me this morning. HR rescheduled on my twice (once on Thursday and again on Friday). I assumed the worst. Said that they just had a hard time choosing between me and another candidate. My case study and interviews were perfect. Went with the other person because they had more operating experience, which helps with the rollup strategy. On the one hand, I wish I had my last 96 hours back - I've been a wreck and my heart rate is up 15bpm above normal. On the other hand, I get them wanting to say "it could have been you" over the phone. Anyway, I need to go figure out what to do with all this pain.

 

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