Hi, I have a very basic question. If the firm wants to hire you, how much time do you have to decide if to accept the offer? Would they ask you to decide like right now? Thank you very much!
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I am not aware of any proper etiquette. Three to seven days is what I have been told in my experience. But if you are trying to parley one offer in hopes of getting a better offer remember- time kills all deals.
5 business days.
I had 5 hours to accept an internship offer once...obviously not the norm but just trying to illustrate that it varies depending in role, situation, etc.
Thanks! I get a sense now.
It depends on the offer and the bank - some give a few weeks, some give a few days, some give a day or so. Usually, it falls between several days and 1-2 weeks. There are some means of extending, but usually the deadlines are pretty strict, and, understandably so, as there are usually many other candidates itching for that same spot (in IB, for example).
They wouldn't ask you (at least it is definitely not the norm) for an immediate decision, although you are welcome to accept right there if you're excited about it. Usually you'd get some docs and have to sign an offer for bigger shops, and for others, you'd have a bit of time to give them a call back and decide.
One of the BB regional offices I dealt with actually called up candidates on the phone and told them straight up "Congrats, we'd like to give you an offer. Will you accept?" You had to literally give them an answer right there, or else they'd move on to the next person.
Holy crap
I've had everything from 9 days to 4 weeks.
I think standard is like 1-2 weeks. But it depends, as everyone has said.
It also depends if you are in school or not.
When I was in college my school required firms to give us at least 2 weeks to make a decision. Can't say I didn't get pressure from firms to give them an answer sooner.
Offer Response Timeline (Originally Posted: 02/27/2010)
So, this has probably been answered before here, but I could not find it.
Basically I currently work at a non-IB group at a Bulge Bracket bank. Although I have had internships in IB during school, both at a boutique bank during the year and a BB in the Summer, I was unable to land a FT offer due to the economy.
I recently interviewed at a top MM bank (think Lazard, Evercore, Greenhill, etc) and the MD told me that a decision would be reached by Friday (yesterday), but I have not heard back yet. I really feel I interviewed really well, and the MD who said that responded to my thank you letter saying that he looked forward to the future. I have no clue what this means.
Is it fair to assume I did not get the position, or should I wait until Mon / Tues and call? Thanks!
MD's have the most random and hectic schedules. He probably forgot or got incredibly busy. Give it a couple more days and then maybe contact him with a brief email.
I would wait until Tuesday then follow up with an email.
You guys think an email is more effective than a phone call?
EDIT: This is not for NY it is for a regional office
I would wait until Monday morning to write a brief and respectful e-mail in the morning. Don't write it tonight, or it will be lost in countless marketing e-mails from market data firms and advertisers.
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If this was for NYC, wasn't there was a huge blizzard on Friday? I'm sure many people weren't in the office that day. Just wait it out till monday
Job offers and response times (Originally Posted: 06/16/2012)
Hey Monkeys -
Whenever I hear people talk about job offers here, they always seem to say they have a week or two until they need to let all offering companies know their decision.
How does this line up so nicely?
I am thinking of beginning to apply now for several different programs - no idea when they all start yet but I am only available from September on, so that's a border - but I wonder if I should wait to apply for all right at once or if I can get an offer and say "I want two months to decide because it doesn't start for four"...
What's the deal on that? Could anyone talk about their experiences with the first-job process and are there any hiring managers who could tell me how they would react to such a statement (and what they normally would expect)?
If you through campus recruiting, the on-campus rules prevent companies from putting too much pressure on you. Depending on which school you go to, the company has to give you between a month or multiple months until you accept the position. This generally applies for SAs who were extended FT offers.
i had a week
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