Job offer from IB, incoming..

[dedekind]

Hello guys,

I've been interviewing for a quantitative analyst position at a top-tier IB in London. After a round of technical interviews (two on the phone + day-long onsite), the HR team called me and said they were happy with me and will move forward in the process and try to come up with an offer. I already filled out a questionnaire including desired compensation, etc.

Could you provide some personal experiences as to how long did you wait to receive an actual offer?

 

[alenPavlovic]

I hope you were smart and put the pressure on them to give you first offer.

 

[dedekind]

What do you mean by "to give you first offer"?

 

[alenPavlovic]

well, you would like to have strong position. That being said, if they offer you 50k, that is not the max they are willing to pay you. Then you counter offer with 10-20% on their value and see where it goes.

Negotiate

 

[financeguy]

It'll probably take them a week or two to get you a verbal offer, depending on how standard your background and the role are. Once you agree on terms it could be another few weeks until you get the paper contract.

 

[dedekind]

well, you would like to have strong position. That being said, if they offer you 50k, that is not the max they are willing to pay you. Then you counter offer with 10-20% on their value and see where it goes.

Negotiate

Oh sure I plan to do that, thanks

It'll probably take them a week or two to get you a verbal offer, depending on how standard your background and the role are. Once you agree on terms it could be another few weeks until you get the paper contract.

Thanks!

 

[dedekind]

Haven't heard from them yet.. Last time I talked was last week, now it's two weeks after the final interview. Should I write them or is it better to keep waiting?

 

[financeguy]

Haven't heard from them yet.. Last time I talked was last week, now it's two weeks after the final interview. Should I write them or is it better to keep waiting?

I would hold out a little while longer. On the Monday of the third week maybe reach out and ask if there is any update on your candidacy.

 

[dedekind]

Well no updates as of yet, HR told me the process is still ongoing and will contact me probably next week. My first guess is that they are still interviewing. Admin stuff should not take that long.

Anyway, I have kept up with my applications and other processes just in case, of course.

 

[dedekind]

Any insights? Still waiting on my side..

 

[financeguy]

Any insights? Still waiting on my side..

There's not a ton you can do here unless you have a competing offer in hand. I would reach out and ask if there's an update the week after next. The only way to actually speed them up is if you are able to secure at least a verbal offer from somewhere else that isn't a markedly worse opportunity.

Also, I wouldn't underestimate the amount of red tape that exists at banks these days when making offers outside of boilerplate analyst and associate programs. They certainly could be checking if they can find someone better for their needs, but they also could just be stuck in a corporate and/or regulatory approval process for increasing headcount and validating your candidacy.