How long after final round to hear back from lateral position?

I was wondering how long or if I should expect to hear back after a final round for a lateral analyst position I had a week and a half ago?

I interviewed on the phone initially then I was called in for a first round, where I met with a VP/Director/analyst. That same afternoon, after the first round, I was called by HR to schedule a final round for the next morning, Thursday 10/29. That Thursday I met with 4 MDs, including the head of the group.

So far, I have not heard anything from HR or the staffer, both of which I have followed up with a week after the final round.

Does anybody have experience with the lateral hiring process or off cycle hiring?

Comments (89)

 
Nov 10, 2015 - 4:08pm

I went through lateral recruiting from December 2014 to May 2015 when I accepted my lateral offer. The process, as you probably know, is extremely ad-hoc and unstructured. If a group is conducting lateral recruiting and then gets busy, you may not hear back for a week or two, but generally, it's the same as FT (same day or within the next two). The bank where I ended up at took a month to get me my offer because the group's MDs were all traveling and did not have time to sit down to discuss after my interview, but they did keep me updated that they were waiting to all get back instead of just giving me radio silence.

Lateral recruiting is a numbers game. If you keep getting dinged, you might want to practice your interviewing skills, but chances are, you just need a lucky break. The process was a lot smoother than FT if you ask me.

 
Nov 10, 2015 - 5:33pm

Yeah I just found it odd that they were so quick with the back to back first and final round, then radio silence. Did you usually get definitive rejections for these roles?

This is my first interview for lateral, so I will have to get my numbers up. Tough with the work balance though.

 
Nov 10, 2015 - 6:49pm

Interviewed on a Friday. Got the call on Tuesday morning. Turned out HR person was out sick on Monday. Give it a couple of days; you never know what the situation is.

"I know you think you understand what you thought I said but I'm not sure you realize that what you heard is not what I meant."
 
Nov 10, 2015 - 6:53pm

How long before hearing back from S&T superday? (Originally Posted: 11/17/2013)

I did type this into the search bar and it seems like it can be anything from the night of the interviews to within a week or so for IBD at a BB. Does anyone know how the process works for S&T, also in a BB? If superday was Friday morning, then when can we expect to hear back?

Thanks!

 
Nov 10, 2015 - 6:54pm

Likely Monday, but one week at the latest. It depends on how on top of things HR is.

"I know you think you understand what you thought I said but I'm not sure you realize that what you heard is not what I meant."
  • 1
 
Nov 10, 2015 - 6:56pm

Oh and quick question, but are decision usually made by the night of the interview/are any e-mails I send or don't send going to affect the decision? One of my interviewers didn't reply to me at all and I was wondering if I should bother following up with her or letting it go at this point.

 
Nov 10, 2015 - 6:57pm

Normally there is a pretty good idea of who they are going with by the night of the interview. Sometimes they will come back together Monday morning and chat a bit.

You'll find some debate on this site regarding the effectiveness of followup emails but the majority will tell you that they make no difference.

An interviewer not replying to a thank you email is really nothing to be concerned about. Sometimes they do, sometimes they don't. There really is nothing that they can say at that point since they aren't allowed to relay the outcome before HR does so my experience as been that if they are going to extend an offer they will often wait to respond until after HR has contacted you so that they can offer congratulations.

"I know you think you understand what you thought I said but I'm not sure you realize that what you heard is not what I meant."
 
Nov 10, 2015 - 7:01pm

Not hearing back after final round of a MBB firm for weeks (Originally Posted: 11/27/2012)

Got a final round interview of a MBB firm 2 weeks ago, but haven't heard anything back. No offer, no rejection. I know even if you got rejected in 1st & 2nd round you would at least get a call for either next round or rejection, but this time it was completely silent.

Is it normal? What is going on?

 
Nov 10, 2015 - 7:10pm

Hearing Back From Superdays (Originally Posted: 01/29/2010)

Do you always hear back from superdays? It has been a week since my lone superday and am wondering when I should give up hoping for an offer.

Also, would it make any difference if I e-mailed the interviewer I best connected with. He happens to work in the group I want to work in and I don't think it is a super sexy group in my country (power and utilities?) Worth it? What should I say? Unfortunately I have no other offers so I can't tell him to hurry up!

Thanks

 
Nov 10, 2015 - 7:11pm

1) Always follow up with each person you meet with. Send a thank you letter snail mail. It will stand out.
2) After not hearing for a week or two, it is respectable to send a follow up email to the superday coordinator (not a managing director, but an associate or vp) to check in to see if there were any updates with regards to the superday. Would not hurt to throw in one more plug how you connected with the team and are still extremely interested in the position etc.
3) Keep the follow ups short and to the point. We get a lot of interviewers and a lot of thank yous and run a busy schedule. We'll read the first couple sentences and skim the rest.

Good luck.

 
Nov 10, 2015 - 7:12pm

I think it all depends on which bank you interview with. Most of the banks that have a large presence in the US get back pretty quickly if a decision has already been made. My guess is that they might not be sure about you and want to keep you on the back burner.

Banks that have a smaller presence in the US (ie Macquarie, SocGen) it will sometimes take longer. Often senior HR members fly between home office and several other cities during the recruiting process, which significantly slows down the process. I think the longest I've waited after a superday was 3 weeks to get an offer from these places.

As for reaching out, I think you should contact HR or the Superday coordinator (even if he's not the ibanker you connected with) first. If you find out that you've been waitlisted, then reach out to the person you best connected with during the interviews to express your continued interest. He might push for you to get an offer. It's useless reaching out to your favorite interviewer first, because decisions are made right after Superday. If he liked you, he'd voiced his opinion already. Contacting him would only create more hassle BC he'd have to call HR to contact you.

 
Nov 10, 2015 - 7:13pm

I have a feeling it is taking so long because it was the first bank to have a superday on Bay Street. I was talking with some of the target school students and apparently the majority of their first round interviews didn't start until this week. Then I go on to assume that these guys are some of the top candidates and may want to consider their options elsewhere on bay street or perhaps in NYC.

What if I do not know the superday coordinator? Is it the HR person who sent out schedule of events? The guy I want to talk to is an associate...

 
Best Response
Nov 10, 2015 - 7:14pm

Waiting to hear back from BB lateral final round (Originally Posted: 12/15/2009)

I had a final round interview with a lower tier BB (think C, DB, UBS) for a lateral analyst position in one industry coverage team this past Thu (12/10). I was told by the recruiter that since they would also interview some more candidates on Fri, we would not hear back until early next week hopefully.

Now it is almost the end of business hours on Tue and still nothing from the bank.

I feel it does not bode well. But don't they get back to everyone (including those got rejected) in a much shorter time since it is the final round? Also, the position has a pretty early start date (before Xmas), which means the accepted candidates will probably need to make a very quick decision instead of having a whole month to think about it... Waiting to hear back is extremely annoying.:(

Any input from anyone?

Btw, I am thinking of following up with them tomorrow morning.

 
Nov 10, 2015 - 7:15pm

Was in a similar position just a couple weeks ago with a top IB. Had final on Thurs, told me they'g let me know by end of week (aka Fri) or early next week. I didnt hear back on Friday or the entire week following it. Finally got a call the next Mon, so thats like 10 days wait, and I got the offer. When its off-cycle recruiting, they might take a bit longer than usual.

Just sit tight. Good luck.

 
Nov 10, 2015 - 7:16pm

And I wouldn't follow up (unless its a thank you email, which you should have already sent)...might annoy them.

 
Nov 10, 2015 - 7:17pm

Not to thread jack, but do headhunters reach out to you for these ops or do you proactively seek these opportunities.

 
Nov 10, 2015 - 7:20pm

Mezz and SAC: Thanks for the words. I think I will wait for a bit longer... just try to be more patient...

bigmoneky and interestedguy: I have a decent network contact list that I keep in touch with every a while. I get most of my interview (SAs, FT, laterals) through internal referral, though not all of them. I don't think many headhunters are specialized in placing lateral analysts for banks... Also, I believe many of these openings are not listed on firm website. So most of the time, you'll need to know someone inside.

 
Nov 10, 2015 - 7:27pm

Ok... So I contacted the key recruiting contact (not a HR) this past Thu and was told that they were actually reviewing their headcount now and thus could not give me a final decision. So I thought I would just move on while waiting to hear back from them as I was interviewing with a few other BB and top MM too.

Then last Friday late afternoon, I got a call from a junior HR (who is the HR contact for this position) asking me for a 30 min interview that night or Sat morning. I later found out that she was actually already on vacation.. But anyway, we had a 30 min talk on Sat (12/19) morning. It was a fairly standard HR interview, but towards the end, she asked me about my current and previous SA salary information and told me that they would get back to me on Mon or Tue (12/21 or 12/22).

Now it is almost the end of Wed and I still got no call or email from them... And I have a few questions for you guys:

  1. I feel I have a good chance since they asked about my salary info... Or am I overly optimistic?

  2. I assume the headcount issue is already cleared? Otherwise, why would they bother to ask a HR, who is already on vacation to give me an interview? They could have waited until she came back from vacation.

  3. I did not ask the HR for the timeline to hear back. Then if the HR is not sure, why would she say "Mon or Tue" instead of some more generic terms such as "next week" or "a couple of days" etc?

  4. I am thinking of contact them again if I do not hear back by tomorrow. Should I contact the HR, or the recruiting contact at the team? Should I do it next week or after the New Year?

Anyone has been through a similar situation? Thanks again and appreciate your inputs.

 
Nov 10, 2015 - 7:28pm

Not necessarily - just call them back. I've had conversations about salary and it means I got the job but also just them getting procedural stuff out of the way. In fact, sometimes, they'll use your salary stuff to help decide if a) you'll take the offer that they give you or b) if they can afford you

 
Nov 10, 2015 - 7:29pm

Well, I could call them, but was concerned that
1) Nobody will care about this tomorrow anyway.
2) The HR person will not come back until next Monday.
3) The key recruiting contact at the team could be pissed that I bothered her again after merely a week. Also, I feel that there is a good chance that she will be on vacation too.

I am not overly concerned about the salary they would offer me because the BB salary at analyst level is very structured. There is little room for negotiation and I do not actually intend to negotiate. So I will be very surprised if they decline me b/c they believe that I am expecting a much higher compensation than what they are going to offer.

 
Nov 10, 2015 - 7:32pm

no you're not. It's possible that they are evaluating other applicants during this time or that you've been put on a waitlist. So sit tight and don't loose hope just yet

SSK
 
Nov 10, 2015 - 7:33pm

I think you already know the answer to this. Either you are waitlisted, rejected, or the firm hasn't made a decision yet. Most likely waitlisted. Keep your head up, you're not out of the game yet.

 
Nov 10, 2015 - 7:35pm

financeorbroke:
thanks guys, what would be an ideal time to follow up without seeming too desperate?

I'd say don't follow up unless you have another offer and need them to reach a decision ASAP. You don't want to be labeled as "that annoying guy". It won't help you anyway. (but if it takes 2+ weeks, you know the answer)

What is done, well, is done. Just sit and wait. Good luck!

 
Nov 10, 2015 - 7:36pm

Will agree w/ ssc. BB super days are typically pretty well run processes and, at least in our group, offers are handed out fairly quickly after supers (within 24 - 72 hours). Usually, there's a ~week long period before the offers explode. If all the first picks at the shop you interviewed w/ already accepted then they likely you would've been dinged by today or you'll get it Monday. If you don't hear anything by next Tuesday or Wednesday you may still have a shot. You're already ranked for offers, so if you just missed the first group of offers and someone turns down the offer you could still have a shot.

They may come back next week and hit you up with an offer. Even then, their next choices will get ~ the same time and a month could go by (theoretically) and still get an offer or ding. Just walk it off, proceed like you didn't get it, touch base via email every 3-5 days with the guys you interviewed w/ and move on to the next opportunity. Stick with it and you'll land the gig you want. Good luck.

Ace all your PE interview questions with the WSO Private Equity Prep Pack: http://www.wallstreetoasis.com/guide/private-equity-interview-prep-questions
 
Nov 10, 2015 - 7:40pm

How long does it take to hear back from a MM company after super day interview? (Originally Posted: 01/27/2011)

How long does it take to hear back from a MM company after super day interview? Anything I should do? (I've sent thank you emails) Will there be more phone interviews after that? Thanks!

 
Nov 10, 2015 - 7:43pm

There could be, but what's probably going on is they interviewed 15 people and are talking among themselves, then boom they decide to talk to 5 more candidates. Or they are slow. Just follow up every two days.

 
Nov 10, 2015 - 7:44pm

superday 3 weeks ago. Haven't heard back (Originally Posted: 10/18/2014)

Had a superday with a large AM firm 3 weeks ago for FT. They weren't really clear on the timeline about when I would expect to hear back. Explained that they had other schools they needed to do Superdays with but that I may hear back "in a few weeks."

Should I email HR and ask where they are in the process? If I had to guess I would say I might be wait listed, but it's not like I'm well versed in how this HR dept operates. I know a couple people who had Superdays in a different division at this AM firm and got rejections a week later.

I guess I'm just wondering whether I should reach out to HR. If so, what should I say?

  • 1
 
Nov 10, 2015 - 7:46pm

superday two weeks ago did not hear back (Originally Posted: 03/22/2012)

Hi everyone,

I had a superday with a MM bank little more than two weeks ago. The HR person told me that she will contact me next week (i.e. last week). However she did not reach out to me. Last week on Friday, I sent her an email asking about my status. She replied back on Monday this week that she will get back to me in a day or two. However, she is yet to get back to me. Can anyone suggest what I should do in this situation ?

 
Nov 10, 2015 - 7:49pm

Waitlisted.

I didn't say it was your fault, I said I was blaming you.
 
Nov 10, 2015 - 7:56pm

superday this past weekend...still havent heard back?? (Originally Posted: 10/11/2006)

Guys,
I just had my last superday at a top 5 BB firm. During the interviews, they said that they may extend offers to some of us right after our interview, and some of us may not here back until this Friday. Should I take it as a bad sign that I have yet to hear back from them. I mean dont banks usually get back to you fairly soon if they want to extend you an offer? I have other offers on the table that I was supposed to get back to early this week. I'd probably accept the offer if they extended it to me, but I dont want to give the other banks the silent treatment for too long.

Just FYI...I spoke with a few other people that were there, and they havent heard anything either.

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