MBB offer decision timeframe

Question

Hi all,

I had my final round of interview with one of the MBB firms on Thursday and was told they will be quick with the decision, HR initially indicated by end of Friday.

I'm an experienced hire and applied to a relatively small country.

I followed up with HR on Tuesday and they told me hopefully by end of this week on a decision.

Friends told me that I might be on the waitlist until their top choice candidate makes a decision.

Such a nerve wrecking week and curious of what might be going on behind the curtains. Is waitlist actually a thing? How long does a candidate have to accept an offer?

Answer 1

Hi there,

Historically wait lists have NOT been a thing in MBB. If you’re over the line, you’re in. MBB is a supply-led business – the limiting factor is getting great worker bees, not getting great clients.

However, we are in strange times. Many firms have cut or delayed hiring, deferred recruits, sacked partners, etc so if there’s a time to believe there are wait lists its now.

If I were in the recruiting team (and I once was) then I would look to make a decision on my offerees within 1 week, then spend <1 month convincing them to join (which really means convincing them to join us and some other MC/IB/Tech firm). Usually if you’re waiting more than 2 weeks for someone to make a decision, it means they’re joining some other firm.

So yea, 2 weeks?

In any case, my sympathies – it’s a nerve wracking time.

I’ve got my fingers crossed for you!

B.

Answer 2

Hi there,

1) Is waitlist actually a thing?

You might be on a waiting list (I helped candidates who were told they were with MBB). Alternatively, they might still have to finish the recruiting for that cycle, or the partners might still have to meet for a decision. It is difficult to know for sure.

2) How long does a candidate have to accept an offer?

Usually they give 1-2 weeks to accept.

Good luck!

Francesco

Answer 3

Hi,

this is a frustrating situation - absolutely. There could be a few reasons for something like this that I could think of:

the final round interviewers and HR haven't been able to meet yet and align on who they want to extend offers to (partners often have scheduling conflicts)
there is uncertainty about the exact hiring budget and headcount goal for 2024 so they are trying to buy some time
they already extended offers to their preferred candidates and leave a batch of “next best candidates” on hold in case the top choices don't accept

Not sure which one applies. It might also be a totally different reason.

Fingers crossed that you will receive positive news!

Answer 4

Hi there,

In my personal experience at McKinsey, waitlist are quite rare for experienced hires. This might mean nothing in your case but it looks like recruiters / interviewers can be under the water in this time of the year.

Keep following up every week until you get an answer.

You can check how the recruiting process works from an internal MBB perspective here:

MBB Hiring Hacks - Behind the Curtain Secrets

Best,

Alberto

—

Check out my latest case based on a real MBB interview: Sierra Springs

Answer 5

Auch. Yes, I know that feeling. I also had to wait for about 10 days after my final interview.

It doesn't necessarily mean that you're on a waitlist.

In fact, most of the time you're waiting because your interviewers didn't yet get to connect on a call and take a decision on your situation. Usually, it's some client situation that exploded, and they are tending to and prioritising while you are waiting.

Hope you'll hear back from them soon. Don't read too much into it for now.

Best,
Cristian

Answer 6

Hi,

Up to two weeks to wait for a decision is ok. You should follow up if they have not made the decision by then.

Good luck!
Nick