How Long Does it Take to get a Formal Offer Letter after receiving a Verbal Offer?

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Hi! I received a verbal offer from a BB. I would like to know how long do people usually have to wait in order to get the offer letter?

At what point in time, should someone contact the HR to follow up with the situation?

Also, if US students who will be working in Europe or Asia...do they have to wait longer compared to getting the offer letter within the states?

Thanks!

What time should I expect between a verbal offer and formal offer letter?

This question can vary a great deal based on the employer and how busy HR is at the given time.

User @PowerMonkey", an investment banking vice president, explained that:

PowerMonkey - Investment Banking Vice President:
My physical offer took about a month and a half to two months. I know people who have waited even longer. Generally different HR groups extend you an offer vs give you an offer letter vs do your training etc.

You should contact HR and determine how long till they send it and how they intend to do so. Its easy enough to do so under the guise of checking to make sure they have the correct address.

Some people receive their letter same day as @lou", an investment banking analyst, did.

lou - Investment Banking Analyst:
I was given the official offer letter, day of the call.

This can also vary based on whether the letter is coming in the mail or via email. You should clarify with HR when you receive your offer about whether you will be receiving a paper or digital copy.

What should I do if the offer letter wasn't received?

When given the verbal offer - you should check to confirm when you will receive the formal offer letter. If the date they indicated has passed, wait another week (in order to avoid seeming too aggressive) and contact your human resources contact.

If you were not given a date - check in after a month indicating that you just wanted to double check the address that you gave HR as mentioned by @PowerMonkey", an investment banking vice president, above.

Several users shared the advice that you should not stop interviewing until you have the formal letter in your hand.

2007Analyst:

Don't get burned by stopping all your processes and then having a "glitch" or something come up. There is no downside to continuing in the process until the written letter is in your hands.

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Comments (66)

 
Feb 1, 2008 - 10:39am

My physical offer took about a month and a half to two months. I know people who have waited even longer. Generally different HR groups extend you an offer vs give you an offer letter vs do your training etc.

You should contact HR and determine how long till they send it and how they intend to do so. Its easy enough to do so under the guise of checking to make sure they have the correct address.

--There are stupid questions, so think first.
 
Feb 1, 2008 - 12:28pm

I received my verbal offer on Monday from HR, they then proceeded to confirm my mailing address by email. I told them I was heading to the states for a month afterwards so that I needed my contract soon, so they sent a courier on Friday to my address.
My friend at GS got her offer the same day, they offered her the job orally at 5, she had her contract by courier at 6.
Some buddies of mine at Macquarie got their contract by email two days after the offer.

(All of this happened in London)

Not all part of my contracts were sent to me, the medical stuff etc.. will be sent to my address the closer we get to my hiring date this summer. I just had the "I accept to work like a camel for the rest of my life papers to sign, as well as the I accept my salary and offer papers".


Remember, you will always be a salesman, no matter how fancy your title is.
- My ex girlfriend

 
Feb 1, 2008 - 1:33pm

It also varies by region. In the U.S., my experience has been that BBs typically mail offer letters the next business day or two after you receive the verbal offer. Maybe the fact that all of my offers were for NYC divisions. Friends of mine in Europe typically have waited longer.

 
Feb 1, 2008 - 9:48pm

congrats.

do not do a thing - stopping your interview process elsewhere, etc - until you receive the written letter.

mine was fedexed to me two days after the verbal offer, for perspective.

don't get burned by stopping other stuff and having a "glitch" or something come up. there is no downside to continuing in the process until the written letter is in your hands.

 
Feb 5, 2008 - 2:13am

i have a different experience.

i received my verbal offer before christmas, around the 20th. i did not receive the actual offer until last week, but they were in touch and had informed me they were still drafting it, etc.

i would second the advice on not doing anything. i continued interviewing, and did let other banks know i had an outstanding offer. when given other interviews/superdays, i just continued.

as soon as i signed (last week), i called the other firms and withdrew. i wanted my spot to go to someone else as soon as i was sure i was okay.

 
Feb 5, 2008 - 2:41am

Been a few years now but I think I got all mine in a few days to a week or so. But this was for FT recruiting.

Personally I would push to get it in a few days, just make up some story about being out of the country/changing addresses etc. if you have to... it's important to get that sort of stuff in writing ASAP.

If it actually takes a month, watch out... all sorts of shady stuff could happen.

 
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  • Anonymous Monkey
  • Rank: Chimp
Jan 29, 2016 - 9:35pm

I am facing the same situation with PwC. I got an interviewed more one and half month ago and I got selected for Sr. Advisory Role and they said they will make an offer soon somewhere around January first week, however I haven't heard anything yet. do you think they would have changed their mind? I don't know what to do.

 
Jan 29, 2016 - 9:36pm

Time frame from verbal offer to physical offer letter? (Originally Posted: 04/14/2014)

I was wondering if anyone whose accepted an offer at JPM can help me out. On April 4th, I verbally accepted an offer for a position at JPM. The HR rep told me to be on the lookout for the paper work in the mail. I called the HR rep 7 days after my offer to confirm whether I would be receiving the information through email or regular mail, and she hasn't called back. Does anyone know how long it takes to send these offers out? Is one week too long?

 
Jan 29, 2016 - 9:41pm

Time it takes from verbal offer to getting written offer letter (Originally Posted: 11/16/2014)

Hi all, last Friday (11/7) I interviewed with a F500 IB for a FT analyst position. The following Monday morning, I received a verbal offer from the recruiter at said IBD. I accepted the offer and was told that the written offer would be emailed within 1-2 business days. Tuesday was Veterans Day so I expected to have the offer by Thursday/Friday. I called the recruiter Friday afternoon and was told I would have it within 24 hours (I'm assuming Monday because of the weekend).

I'm starting to get nervous that the offer has been rescinded or that my leg was just being pulled since the offer on Monday and that they're just looking for better candidates.

Any insight on this? I would appreciate any insight on this, as this is my dream position and would like to have it ASAP.

Thanks in advance

 
Jan 29, 2016 - 9:52pm

Bank is slow with sending an offer letter (Originally Posted: 07/06/2015)

Hi

I got an e-mail with an information that I got an offer from the pretty decent European m&a boutique. They were supposed to send me all documents (incl salary info) but didnt do it. I've reminded them and they promised to do it in a few days, but those days past and still no email. What should I do? Wait a couple of days more or write another email? Dont want to sound desperate but hey, I really wanna know where I am with this.

Thanks for your help

 
Jan 29, 2016 - 9:54pm

Verbal to formal offer letter timing (Originally Posted: 08/04/2014)

Wanted to reach out to the community with my situation. Accepted an verbal offer from MD almost two weeks ago. He mentioned that the HR process should take 1-4 days. It's been almost two weeks now and I'm still yet to receive a formal offer from HR in any kind of formats. I've been in touch with HR with regards to references etc, they told me all is set and they are just awaiting for a formal approval, the line they use is "should be hearing from us for the next couple of days"...

does anyone have any experience with situations like this? Formal approval from who? Could it be they are having cold feet? This is a lateral associate hire. The waiting is killing me. Appreciate for any thoughts.

 
Jan 29, 2016 - 9:56pm

Offer letters (Originally Posted: 02/22/2007)

How soon do you get offer letters after superday? I got a call back on superday last Friday letting me know I got the position. But I still have not yet received the offer letter. Any ideas?

 
Jan 29, 2016 - 9:58pm

Recieving an Offer Letter (Originally Posted: 06/23/2010)

How long does it take to receive an offer letter? I verbally (over the phone) accepted an offer on Monday, HR said they would send out the letter on the same day, but I have not received a letter yet. I am based in NYC and so is the company.

 
Jan 29, 2016 - 10:00pm

offer letter delay (Originally Posted: 10/29/2010)

I received a verbally offer as well as an email citing an extension of an offer but no official offer letter for 3 weeks now, I talked to a company executive, he sjaid its a complex process to create a new position vs a replacement for a new position. How normal is this and should I be concerned?

 
Jan 29, 2016 - 10:03pm

Dont have official offer letter. (Originally Posted: 03/21/2007)

I've got a friend who got a verbal offer from his first choice, ( a MM). The problem is that he hasnt received anything in writing yet. They gave him the verbal offer in early feb. and told him that the letter would be here within the week. After waiting 3 weeks, he called the recruiter and she told him to just be patient. But now it's been 6 weeks and he hasnt signed anything and has turned down his other offers. I really hope they honor that verbal offer, but now its really his word against theirs if they suddenly "forget" about his offer. I told him to call the VP that interviewed him, but he doesnt want to seem like a pest or something. So what should he do?

 
May 21, 2016 - 11:17am

It took me about 6-8 weeks to receive the letter. They had said it would take 3-4 weeks. (I was informed before most others.) I was in communication with the VP who interviewed me and let him know every few weeks what was going on. The VPs who work there have a lot more sway to get HR to act than you, as a prospective employee, do.

Don't worry if it's taken a while. If they're hiring a big batch of people for first-year analysts, they have a lot of internal crap to deal with. Head counts, background checks, reference checks, and a thousand other time-wasting compliance requirements. Just stay in touch and make sure that your hiring manager is aware of your situation.

 
Apr 4, 2018 - 5:07pm

I just recently got into a similar situation myself, but with a boutique consulting firm (which actually just got acquired by a bigger Consulting Firm). HR gave me a verbal offer 2 business days ago, saying that a written letter should come in the coming week (which is this week). HR also told me that the President signed off on the decision already. (I know this because HR was waiting for the President sign-off before giving me the verbal offer).
I'm not in panic mode yet but would like to hear from the good people of WSO who might have had experience with boutique consulting firms before. Is long wait for a written offer usual for smaller consultancy? When should I start feeling panic?

Thanks everyone.

 
Apr 4, 2018 - 5:14pm

What to do when HR takes too long to send you a formal offer (Originally Posted: 12/04/2012)

This isn't "job search" related per se, but I didn't know which forum to post this..

I have an offer but I'm waiting on the firm I really want to send me the final offer. I contacted their HR last Thursday (2wks+ after my last interview) to ask her if I have an offer and to tell her I need to let the other company know by early this week and she said she's coordinating things and that she's looking forward to making a final offer to me "very soon".

I barely got the other firm to give me an extension on the deadline until this Friday.. And I still haven't heard from the company I want. What should I do if I don't hear anything by tomorrow/Friday morning?

Thanks in advance!

 
Apr 4, 2018 - 5:15pm

Tell them what your deadline is and that you have already extended it. If they dont give you an offer by Friday then you have to determine what to do. There is nothing you can do on your end. You can always accept the extended offer and then renege if you get the other one.

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
 
Apr 4, 2018 - 5:21pm

verbal offer...how does written offer come? (Originally Posted: 10/17/2012)

Hi

I just got a verbal offer from a consulting firm. I'm completely in the dark as to the level (and hence the compensation) and am extremely curious, as I applied for a post-MBA position (I'm in an MSc in Finance program) but was told that they do, sometimes, put you at a level below where you applied. I'm hoping that I don't get stuck with an undergrad-level offer as I'm through the CFA program and have some pretty good experience in finance (over 3 years if you include summers), but I'll probably take it regardless.

But I was wondering: in what form do written offers typically come from consulting firms? Snail mail? Or email? And when? I got an automated email from them asking for consent to send electronic communications (it was unhelpfully generic, referring to "opportunities" instead of "offers"), but they've been contacting me by email all along so that's a bit puzzling. I think the form of the written offer was mentioned in the initial call but I was sort of in shock and don't want to go back to ask them yet...

Anything you can tell me would be helpful...I'm waiting anxiously. Thanks

 
Apr 4, 2018 - 5:25pm

Verbal and Written Offer (Originally Posted: 10/14/2010)

I'm curious about how banks process their offers in general? Does the process always come with a verbal offer (i.e. a call from a VP) first and then the paper offer delivered via mail? What would the VP usually say in the call? Would you guys discuss salary, benefits, bonus, etc during the call or those things are discussed later with an HR person when the paper offer comes in?

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