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

jackels26's picture
Rank: Monkey | 31

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

Spoke with colleague, he expects in the 2-4 week range, with a skew towards 2 weeks. So, sounds like you should hear back fairly soon.

Nov 10, 2015

Thanks. I guess I am thinking this is likey back during FT rounds when you would hear a day after.

Nov 10, 2015

Yeah it's definitely slower than intern/FT new hire recruiting, if only because it's more unstructured.

Nov 10, 2015

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.

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Nov 10, 2015

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

Most of the banks never gave me definitive rejection. A few emailed me rejections, but they were your typical HR emails and came months after I already figured I got dinged.

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Nov 10, 2015

Either the day of, or Monday after, usually. Otherwise, you're either wait-listed or dinged.

Nov 10, 2015

Within 1 business day for sure.

Nov 10, 2015

I heard back with a verbal offer the next day.

Generally if you get an offer, it will be the next day, maybe even same day, and if you were wait-listed or cut, one to two weeks.

Nov 10, 2015

Oh ok. I had my interview yesterday noon. Still haven't heard back. Should I wait till the end of the week to follow up?

Nov 10, 2015

Got a call in the same afternoon (interviewed in the morning) from one BB with the offer.
I've heard Friday superdays might not get back to people until Monday or Tuesday though, so hang in there!

Nov 10, 2015

For Thursday after trading hours superdays.... Is it generally on the next Friday or sometimes Monday as well ?

Nov 10, 2015

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.

Nov 10, 2015

Anyone hear back from GS Securities super day on thursday (1/30)?

Nov 10, 2015

I heard back from a Friday superday on a Monday with a verbal and written offer.

Nov 10, 2015

3 years at least.

Nov 10, 2015

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

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Nov 10, 2015

Thanks a lot! SB for you. :)

Nov 10, 2015

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

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.

Nov 10, 2015

I've never received an offer after 1 week. They'll extend offers within a week and send out rejections within a week. If you're on hold you won't hear anything most of the time.

Nov 10, 2015

Follow up emails really dont change anything but I liked to send them, especially if I connected with the interviewer to serve as a future potential connection. I think its 2-3 days max to get an immediate offer from a BB otherwise you are on the wait list

Nov 10, 2015

You're probably on the waiting list. I've had friends who remained on waiting lists and didn't hear back until a month and a half after they inteviewed.

Nov 10, 2015

Agreed, most likely on hold or waiting list. Just gotta sit tight... try to not let it drive you crazy. How long did they say it would take? You could shoot HR an email to try and get an update.

Nov 10, 2015

Not to be a prick but....

Most candidates that are extended offers are told withing 2 days of the final interviews.Good luck though.

Nov 10, 2015

Sorry, but that's not necessarily true. I waited 4 weeks after my final round to receive my offer. Sometimes it just takes longer.

Nov 10, 2015
Bismarck:

Sorry, but that's not necessarily true. I waited 4 weeks after my final round to receive my offer. Sometimes it just takes longer.

You were probably on hold on the waiting list, just like the OP (most likely).

Nov 10, 2015

I'm guessing bain. Happens a lot and don't stress it means nothing.

Nov 10, 2015

Sounds like Accenture. Where was this?

Nov 10, 2015

@Pnb2002 - doubtful, I didn't apply through any program (lateral hire) so I doubt there was a waiting list.

Nov 10, 2015

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

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

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...

Nov 10, 2015

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

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

Nov 10, 2015

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

Nov 10, 2015

Wait a week. So on Thu, send them an email.

Nov 10, 2015

I'd also like to know how you guys are hearing of these openings

Nov 10, 2015

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

I just switched banks - interviewed with all the top 5 bulges ... talk to headhunters and obviously ur network. Alums help out the most

Nov 10, 2015

If the bank you are at hears that you are interviewing at other banks, won't they get pissed off?

Nov 10, 2015

Quite the opposite - if they know other places want you they want you more. I talked to 3 banks and after telling them, they all got more excited.

However, make sure they're of similar calibre. Don't tell GS ur talking to Jeffries, they won't give a sht

Nov 10, 2015

i'm in ur position, just finished a interview with a mid market company on weds and still waiting for results. It is really annoying to wait for the call

Nov 10, 2015

what about changing groups internally? how does that work?

Nov 10, 2015

depends on your bank, easier if there's space in it or if you're going from a desired group like M&A, LevFin, TMT to say an undesired group like Nat resources in Houston, DCM, Real Estate, etc.

Nov 10, 2015

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

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

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

you can always negotiate your bonus (guaranteed level, full year, pro-rated, etc)

Nov 10, 2015

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

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

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

Nov 10, 2015
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

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.

Nov 10, 2015

no, but you should freak out cause it will definitely let you enjoy yourself this weekend...

Nov 10, 2015

bump, interested as well

Nov 10, 2015

You need to keep waiting. The wait could be a week, or even a month. Check every couple of days with HR.

Nov 10, 2015

Really? I saw people wrote 1-3 days was the norm. Guess it's not so. Would there be surprise phone interviews at some point?

Nov 10, 2015

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

Sounds like you're on hold. Best way to get off the wait list is to get an offer somewhere else and then let them know.

Nov 10, 2015

Not positive, but you might be at the top of a waitlist?

Cheers.

Nov 10, 2015

I can't really say that. They did not mention that to me explicitly. Also, I would like to mention that this I received the invitation for super day two weeks after my first round.

Nov 10, 2015

Waitlisted.

I didn't say it was your fault, I said I was blaming you.

Nov 10, 2015

rejected

Nov 10, 2015

call the HR...

Nov 10, 2015

I know GS calls back same day for summer analyst recruiting. BX doesn't call back same day for FT (at least the groups I'm familiar with)

Nov 10, 2015

Anyone?

Nov 10, 2015

which division?

Nov 10, 2015

What Bank was it? I had one too, but i've already heard...send me a private message if you want

Nov 10, 2015
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