On Hold - what to do now?

I had a superday last week at a BB that honestly went really well. It ended with a MD saying “can’t wait to discuss (a deal I had on my resume) more next summer” and I crushed all the technicals. However, I just got a call from HR saying that my application is on hold and asking if I have any exploding offers.

I assume this means that they haven’t finished filling out their intern class and want to hear back from their top choices and/or continue interviewing before looking at their next choice candidates. I’d really like to land this offer though, so I was wondering if there’s anything I can do to push them in the right direction, even just to put me at the top of the waitlist. I never sent follow-up emails to my interviewers, should I do that now and thank them for their time and ask their advice? Should I tell HR that although I have other superdays, this job is my top choice and I’d accept an offer immediately? Just wait it out? I assume that if I made my interest clear that would push me higher on the wait list, but I don’t want to annoy them or seem desperate for an offer.

 

Tell her that you have an exploding offer right away. It's a GREAT sign that she asked if you had any, which tells me you should definitely receive the offer. Do not tell HR that the BB is your top choice. That might make the wait longer.

 

This is a side note, too late now but always always always send thank you emails to interviewers same day. These decisions get made quick.

I disagree and think it can be useful to say a bank is a top choice, IF IT IS TRUE. Some banks will ask you "If we give you an offer, would you accept?" before giving you an offer.

If you're close to the alumni contact, I would reach out to him and say that you have an offer that explodes next week but this bank is your top choice and you really want to work there.

 

Im not on a waitlist but i suspect I am given that its been almost 3 weeks since ive been waiting for an offer. what if my contact is in NY and I'm interviewing in SF? the contact is an MD though in the same division and during my interviews I did bring his name up. Everyone knew him.

 

Unfortunately there's really not much you can do on your end at this point. It sounds like your only chance is if someone (or multiple people depending on where you are on the hold list) turns down an offer. If anything, you could try following up with them again this week to thank them again for the superday and reiterate your interest, but it most likely won't change anything.

Keep trying to line up opportunities with other firms. Don't bluff an offer, you're on hold (i.e. leveraging other offers is generally only useful for accelerating interview timelines, and plus you shouldn't lie anyways)

 

That's rough man, i've been in your shoes so my advice would be to immediately hit the pavement again like you just found out you were denied. If you end up getting the offer because another candidate dropped out, it's a stroke of luck. They have their select list of candidates in a precise order, so hopefully you are next if in line they end up moving down. Good luck

 

Is this for a FT analyst position in IBD? If it is, I have never heard of a hold this long before. At this point I would explore all options, even non-finance jobs are going to be hard to come by if you wait much longer.

 

Is this for a FT analyst position in IBD? If it is, I have never heard of a hold this long before. At this point I would explore all options, even non-finance jobs are going to be hard to come by if you wait much longer.

 

I don't think companies are going to do anything until after Q1 2009. The Big 4, the BB, MM, PE, HF etc. They're all reconsidering staffing needs and they're all bracing for a horrible 2009. Anticipate more "On Hold" feedback for the forseeable future. Just too unstable a financial environment otherwise and most firms have no real confidence in their budget or forecasts beyond 1-year. It's just impossible to do. So much incomplete information out there.

 

I would apply again, but contact people you know at the bank to get the process/decision expedited.

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