Usually how long does it take for a (big) bank to give an offer after salary negotiation? A few days ago the headhunter asking me what is my expected salary after I have gone through all the interviews with that bank. The agent also told me the mangers are very happy with my performance in the interview and also told me my expected salary is reasonable. Since then I have heard nothing back. Is it normal for a bank to take some time to give an offer after asking the expected salary? Or is it supposed to be instant?

QuoteOriginally posted by: jimmycarterUsually how long does it take for a (big) bank to give an offer after salary negotiation? A few days ago the headhunter asking me what is my expected salary after I have gone through all the interviews with that bank. The agent also told me the mangers are very happy with my performance in the interview and also told me my expected salary is reasonable. Since then I have heard nothing back. Is it normal for a bank to take some time to give an offer after asking the expected salary? Or is it supposed to be instant?Perhaps they don't want you any more.

It sounds to me that the hiring firm has a number of people that could fill the role and they haven't made up their mind yet.Call the agent and ask what they think is happening. Unless they are representing another candidate for the same role they will be very keen to make the sale & should be able to give some info.Although it can take some time to produce an actual offer letter, most places let people know they want to take you on informally before you get the actual letter.Sometimes things change - a (perceived) better candidate comes along, a hiring freeze, hiring manager is fired, re-org, ... so don't stop looking in the mean time

One of the things that has me biting the carpet as a pimp is how long some banks (you know who you are) take to print an offer letter.One HR described the process to me in the same terms as one might use for the government purchase of a major weapons platform. The bit where carpet started to taste nice was when she told me of how she could apply for the offer letter to be typed up.But harryb is right; hassle the pimp., it's his job to get stuck between an immovable bureaucracy and a resistible candidate.

Quote Or is it supposed to be instant?It should be instant.

QuoteOriginally posted by: jimmycarterUsually how long does it take for a (big) bank to give an offer after salary negotiation? A few days ago the headhunter asking me what is my expected salary after I have gone through all the interviews with that bank. The agent also told me the mangers are very happy with my performance in the interview and also told me my expected salary is reasonable. Since then I have heard nothing back. Is it normal for a bank to take some time to give an offer after asking the expected salary? Or is it supposed to be instant?They said there is nothing wrong with your interview or your salary. But you don't hear from them in 2 weeks. I think 2 weeks is usually the cutoff time -- after that, the implicit answer is no.

when i got my offer from goldman they typed it up and sent it next day air. from the initial phone confirmation about the offer it took 2 days. id say it just depends. but more than 5 business days is really really pushing it. if they want you, they'll try to get you to sign the offer letter asap.

QuoteOriginally posted by: l3ttucewhen i got my offer from goldman they typed it up and sent it next day air. from the initial phone confirmation about the offer it took 2 days. id say it just depends. but more than 5 business days is really really pushing it. if they want you, they'll try to get you to sign the offer letter asap.For me it has varied from same day (within 1 hr of interviews) to 3months.

QuoteOriginally posted by: veeruthakurFor me it has varied from same day (within 1 hr of interviews) to 3months.if it's was three month, you were probably not first on their list.

QuoteOriginally posted by: KackToodlesQuoteOriginally posted by: veeruthakurFor me it has varied from same day (within 1 hr of interviews) to 3months.if it's was three month, you were probably not first on their list. And the point is?

Kack may be right, but it's far from always the case.There are any number of hassles, like headcount and the way in many outfits far more people need to "sign off" on a hire than seems even remotely necessary.Also KT talks of being "not first", and that implies a strict ordering relationship for candidates.It's not unknown for different factions to support different candidates, and that adds to the time, sometimes to the point where the choice is made for themby one of the candidates going somewhere else.But assuming you somehow know you weren't first choice, how does that affect how you play it ?A first approximation is that you have a weaker position, but that is not necessarily so...With all due respect to veeruthakur, he's almost certainly not the best person for this job, the numbers of people out there make this highly probable.Any job offer is an equilibrium between the expectation that the bank could find a better match, and the effort and time of doing so.You now represent an investment in time and effort, and having someone else turn down the job will probably make the hiring manager want to close the deal without having to start the whole bloody process again.And it is a bloody process, they will have read a lot of CVs, seen a lot of people, and interviewing someone you don't hire doesn't do anything for your bonus pool.Having pissed around with someone else, if you turn it down the next best person may not be available, and given that these things aren't even remotely linear he may be a lot less good.Also the reason they may not have got him is that they didn't offer as much as someone else. The little data I see support this. If the other guy simply didn't want the job, that would have been quick.But instead he stalled because he saw a better offer on the horizon, and in this case it worked out for him (or they got sick of the stalling).Thus you have a decent position for getting a bit more money.If I were your pimp, I'd play to the utility function of the hiring manager, and offer both speed and certainty. I'd get a number that is not too unreasonable from you, and offer the manager the chance to end this now with this package.

thanks DCFC for the info. I only come to appreciate hassles and frustration on the other side of the table by now.

QuoteOriginally posted by: DCFCKack may be right, but it's far from always the case.There are any number of hassles, like headcount and the way in many outfits far more people need to "sign off" on a hire than seems even remotely necessary.Also KT talks of being "not first", and that implies a strict ordering relationship for candidates.It's not unknown for different factions to support different candidates, and that adds to the time, sometimes to the point where the choice is made for themby one of the candidates going somewhere else.But assuming you somehow know you weren't first choice, how does that affect how you play it ?A first approximation is that you have a weaker position, but that is not necessarily so...With all due respect to veeruthakur, he's almost certainly not the best person for this job, the numbers of people out there make this highly probable.Any job offer is an equilibrium between the expectation that the bank could find a better match, and the effort and time of doing so.You now represent an investment in time and effort, and having someone else turn down the job will probably make the hiring manager want to close the deal without having to start the whole bloody process again.And it is a bloody process, they will have read a lot of CVs, seen a lot of people, and interviewing someone you don't hire doesn't do anything for your bonus pool.Having pissed around with someone else, if you turn it down the next best person may not be available, and given that these things aren't even remotely linear he may be a lot less good.Also the reason they may not have got him is that they didn't offer as much as someone else. The little data I see support this. If the other guy simply didn't want the job, that would have been quick.But instead he stalled because he saw a better offer on the horizon, and in this case it worked out for him (or they got sick of the stalling).Thus you have a decent position for getting a bit more money.If I were your pimp, I'd play to the utility function of the hiring manager, and offer both speed and certainty. I'd get a number that is not too unreasonable from you, and offer the manager the chance to end this now with this package.In my case, the reason was that I interviewed way too early. It was a big organization with a formal hiring process. When that started, they made me an offer.Moral of the story-- Try to find out directly from who is responsible for typing out your letter rather than trying to construct random reasons.