Massive hiring delay
Went through several rounds of interview so for a BB M&A role. Final interview was 3 weeks ago.
I waited a week, sent an email and got a call from an associate saying that they needed a few more weeks before they could make a decision. Promised me I'd hear back today. Today they emailed saying no offers had been made to anyone and they still needed a few more weeks. The email was definitely tailored to me - it wasn't generic.
What's going on?
Though it's a BB, I Iive in a small country and the office is tiny. There's been no HR involvement; all correspondence has been with the bankers in the local office.
When they called me a few weeks ago, they mentioned they had decided to hire two, not one analyst. Is it possible they're going through the entire process again for someone else?
Bump
Go try to get another offer. I literally had to do this to expedite a slow hiring process. Besides, in a worst case scenario, you will have secured a position.
Have a super day in two weeks, hopefully I hear before then...
don't think this is that uncommon, especially if its a smaller branch of the bank as they need to ensure that hiring another person fits with current headcount numbers and budget. maybe they ran this process anticipating that someone would quit and they haven't yet. maybe the process started prematurely because they didn't want to risk losing you as the top candidate to other potential roles and they want to string you along (also could be said for other candidates)
don't lose hope future MD, but also don't be shy about looking at other firms. it is also possible that they didn't really like anyone enough to offer so they want to keep interviews going.
any chance you could share the city and bb?
Thanks for the response. I guess it could be for any number of reasons. When they made the delay they said they were committing to hiring two, not one analyst, so maybe they're going through the process again. Of course, it's run through my mind that maybe they haven't found what they're looking for so they're still interviewing - hope not.
Will PM you once I get that ability
From my experience and looking at my friends experience HR always says "no offers had been made" when in reality they already gave out offers to other people and are just waiting to hear back.
There are no benefit to banks whether it be bankers or HR to tell you that they've already given out offers to other people until those people sign said offer sheet.
Or like you mentioned its also possible though less plausible that they're going through the entire process again
Yeah that's usually the case, but it doesn't feel right in this situation. There's no reason for them to explicitly say "No offers have been made, we just need more time" - especially since it was tailored to me. In my experience firms have never given any reason for not meeting recruitment deadlines, especially when there isn't positive news. The associate seems like a genuinely nice guy, so I'm pretty sure it's just that. Or I'm just blindly hopeful.
All of the above are plausible and one more potential scenario is they were staffing up to meet the demands of a big deal that fell through. If I were you I'd keep interviewing and get another offer to either leverage against this one or to get a better offer. You got one bank interested, what's to stop you from getting another one?
That would make sense, but I know they're hiring because they lost a few people through transfers to other offices. Both the VP and the MD said that they're understaffed.
Agree though, all I can do is focus on getting other offers. Have a technical interview for a buy side ER role next week (stock pitch) and a superday at another BB the week after. Ideally this place'll get back to me with good news before them, but getting an offer and leveraging it would be the next best thing.
Why the delay? (Originally Posted: 09/20/2011)
'Just looking for some insight into the hiring process...Last Monday I had a 2nd round (final round) interview with a group within a large financial services firm for a consulting position. The last interview of the day was with the boss of the the guy who runs the group I was interviewing for, and the last words out of his mouth were "I think we have a position for you". All the interviews before that were positive as well.
The HR rep I spoke to that morning said I should expect to hear back early next week (this week) at the latest... Still no word.
Any insight into what may be going on, or if I should follow up? (I expect some negotiation over salary, so don't want to sound to eager by pestering HR)
Thanks
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