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psyduck
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Joined: January 15th, 2011, 9:12 pm

"we'll be in touch soon" ... what does that mean, really?

February 3rd, 2011, 4:40 am

In January, I had two interviews with two separate investment banks -- one in person, one over the phone. I thought both interview went well. And, both interviews ended with the interviewer saying that they thought I would be a good fit at their company and that we would be in touch soon regarding the next steps in the hiring process.It's been 3 weeks and I haven't heard anything from either bank. After two weeks, I sent an e-mail to the interviewers' recruiting coordinators reitierating my interest in the positions and asking if they could give me some sort of information regarding the time-frame of the hiring process. The reason for asking about the time-frame is that I have academic offers with a April deadline.Can anyone explain to me what the deal is? Am I no longer being considered for the jobs? Is 3 weeks sooner than "soon". Is it unreasonable to expect that somebody at these banks at least acknowledge receipt of my e-mail?
Last edited by psyduck on February 2nd, 2011, 11:00 pm, edited 1 time in total.
 
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katastrofa
Posts: 9332
Joined: August 16th, 2007, 5:36 am
Location: Alpha Centauri

"we'll be in touch soon" ... what does that mean, really?

February 3rd, 2011, 1:47 pm

Make it clear that you have other offers with a definite deadlines and that you are a "take it or leave it" proposition for them. Assuming your other offers are good and you are willing to accept them.
 
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psyduck
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Posts: 21
Joined: January 15th, 2011, 9:12 pm

"we'll be in touch soon" ... what does that mean, really?

February 3rd, 2011, 3:08 pm

I told both banks in a very non-threatening way that I have academic offers on the table with commitment deadlines in late March. And I re-iterated that my priority was to pursue a position with the banks. So, the situation should be clear to them.
 
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quantmeh
Posts: 5974
Joined: April 6th, 2007, 1:39 pm

"we'll be in touch soon" ... what does that mean, really?

February 3rd, 2011, 3:57 pm

i say this when i really mean it. HR can say anything they want or feel like.so if you heard it from hiring manager, then maybe he's simply fighting for a budget. often, you start looking for resources in anticipation of project start or funding, then something comes along and the start delays or funding's late... it's frustrating to a hiring manager too. you're not alone pissed and waiting
 
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tu160
Posts: 363
Joined: October 23rd, 2007, 1:14 pm

"we'll be in touch soon" ... what does that mean, really?

February 3rd, 2011, 7:04 pm

Last edited by tu160 on December 9th, 2011, 11:00 pm, edited 1 time in total.
 
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twofish
Posts: 4944
Joined: February 18th, 2005, 6:51 pm

"we'll be in touch soon" ... what does that mean, really?

February 4th, 2011, 3:05 am

QuoteOriginally posted by: psyduckAfter two weeks, I sent an e-mail to the interviewers' recruiting coordinators reitierating my interest in the positions and asking if they could give me some sort of information regarding the time-frame of the hiring process.Usually positions are for immediate hire. If you don't hear anything that means that you most likely didn't get the job. Keep looking. Also the fact that if you go through an HH, you can get a firm "no" is why I think it's a good idea not to apply directly to a bank. The HH will be interested in knowing what your situation is since that determines if they get money or not.QuoteIs it unreasonable to expect that somebody at these banks at least acknowledge receipt of my e-mail?It isn't unreasonable, but that doesn't mean that it's going to happen. Looking from the point of view of the bank, you are one of thousands of interviewees. Even setting up a system by which people can get an form e-mail is hard. Also, banks are set up so that there is really no one in a position so say firmly that person X will not be hired.
 
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psyduck
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Posts: 21
Joined: January 15th, 2011, 9:12 pm

"we'll be in touch soon" ... what does that mean, really?

February 4th, 2011, 4:10 am

I was finally contacted by somebody at one of the banks today. Just a quick note to let me know that I was "still on the radar" so to speak. But, I still don't have any information about the time-frame of the hiring process. As much as I would like to work at one of these banks, there's no way I'm going to turn down a guaranteed job at a university for and unsure job at a bank -- not in this economy.
 
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daveangel
Posts: 17031
Joined: October 20th, 2003, 4:05 pm

"we'll be in touch soon" ... what does that mean, really?

February 4th, 2011, 6:26 am

would there be a problem if you accepted the academic position and then left after a couple of months (weeks) if your banking jobs come through ? seems to me you have a good option here if you don't mind or are quite keen on the academic role.
knowledge comes, wisdom lingers
 
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katastrofa
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Joined: August 16th, 2007, 5:36 am
Location: Alpha Centauri

"we'll be in touch soon" ... what does that mean, really?

February 4th, 2011, 6:37 am

It would be a problem for the research group hiring him/her.
Last edited by katastrofa on February 3rd, 2011, 11:00 pm, edited 1 time in total.
 
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daveangel
Posts: 17031
Joined: October 20th, 2003, 4:05 pm

"we'll be in touch soon" ... what does that mean, really?

February 4th, 2011, 6:43 am

that is their problem....
knowledge comes, wisdom lingers
 
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tu160
Posts: 363
Joined: October 23rd, 2007, 1:14 pm

"we'll be in touch soon" ... what does that mean, really?

February 4th, 2011, 2:42 pm

QuoteOriginally posted by: daveangelthat is their problem....Exactly. Can't do it in Europe with 6 months leave notices, but in US go for it. Your academic karma will be damaged but it's unlikely you go back to academia from finance anyway.
 
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daveangel
Posts: 17031
Joined: October 20th, 2003, 4:05 pm

"we'll be in touch soon" ... what does that mean, really?

February 4th, 2011, 3:23 pm

give them a month, walk out. what they going to do, sue you ?
knowledge comes, wisdom lingers
 
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tu160
Posts: 363
Joined: October 23rd, 2007, 1:14 pm

"we'll be in touch soon" ... what does that mean, really?

February 4th, 2011, 4:49 pm

I actually always was curious why does it work in Europe. I know that people announce the decision and when struggle with soon to be ex boss for months. Why they can't just stop show up at work? Should be a reason...
 
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Costeanu
Posts: 189
Joined: December 29th, 2008, 5:33 pm

"we'll be in touch soon" ... what does that mean, really?

February 4th, 2011, 5:48 pm

They are not going to sue you, but you don't want to burn any bridges. If you accept a job in academia and then turn away, a number of people will be unhappy with you, and, what's worse, with your advisor. Later on, maybe years down the road, you may interview at some hedge fund and their HR will want to chat with your advisor. I know it sounds silly, but it happens - it happened to me.Turning away from a job in the industry is ok. Academia is different.
 
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QuantOption
Posts: 269
Joined: February 8th, 2003, 9:00 pm

"we'll be in touch soon" ... what does that mean, really?

February 4th, 2011, 7:31 pm

QuoteOriginally posted by: CosteanuTurning away from a job in the industry is ok. Academia is different.Turning down accepted offer in the inductry is ok? Have you tried it? It's a small world my friend, everyone knows someone in another place ... dangerous game
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