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How much time to receive and decide on offer?

Anonym A fragte am 15. Mär 2017 - 4 Antworten

I have some questions about receiving and accepting/declining an offer. Usually for consulting interviews, you get the offer straight away after the final round, right? And then how much time do you get to decide for the offer? The thing is that I have a final and first round coming up, and the company I would prefer is the one I have the first round with.

Would be great to get your advice on this!

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Andrea
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antwortete am 20. Feb 2018
Former BCG decision round interviewer with 300+ real interviews in 8 years
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In the words of my mentor "an offer is valid until you consider it". Now, do not take that to an extreme but I would say that 3-4 weeks is perfectly normal time to have to consider an offer.

Before extending the time, if you feel prepared, I would ask other firms to shorten their interview time because you have another offer.

Techniques to extend time:

  • Be honest: tell them you have other interviews and since you already made plans you would like to complete them to be fair
  • Negotiate terms of offer: you can negotiate sign-on bonus, tenure (if applicable), start date
  • Personal reasons (if applicable): e.g. need to discuss with SO to make sure is right decision

Hope it helps,

Andrea

Francesco
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antwortete am 18. Mär 2017
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Hi Anonymous,

I agree with Alexey; I would say option 2 he mentioned is particularly powerful not only to speed up the process, but also to reduce the number of interviews you will have to do. You will be indeed validated automatically by the fact you got an offer from another company – sometimes even an interview (assuming that the company you are still in the process with belives the other company is at the same level). In this way you may turn a problem in an opportunity. Some examples I know first-hand:

  • Once I received my offer from Oliver Wyman, I called the other company I had in pipeline, to mention I had to take a decision soon. I ended completing the process with BCG in just 4 days, and 2 interview rounds, instead of the usual 3.
  • One of the people I recently coached went through a first round with a MBB company and passed it. At the end of the interview they asked him if he was interviewing with other MBB and he replied he was indeed in the process with others. When they proposed him the final round day, he tried to put it off in order to have time to interview also with the other MBB. They ended presenting him an offer directly, without even doing the final. Of course, his performance was excellent in the first round, but they would have hardly done so without the candidate making clear he was in high demand.

Best,
Francesco

Alexey
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antwortete am 15. Mär 2017
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Hi Anonymous

Interesting question. Hope you will succeed in both options.

Right, you get an offer the same day after a successful interview and usually they give you from 1 to 3 working days to decide and to sign an offer. And here you have at least 3 options:

1. Ask them to wait for a longer period (difficult to explain why - in your situation)

2. Ask your preferred company to arrange a final round asap because of another offer in your hands but willingness to be with them (could work but risky)

3. Accept an offer and you will have at least 1-2 months before your starting day to fix another opportunity (if it works for you from the ethic side)

Best wishes

Alexey

Anonym antwortete am 24. Feb 2018

Hi anonymous,

Just spoke with a Swiss friend and he told me that you should be completely fine in getting such an extended period of a month, as far as you're able to come up with some sound and consistent arguments (examples in Andrea's post) - in the end of the day you should remember that they want you to work there! (the major caveat could be if you're applying to near from the September intake and the firms need to confirm the final composition of new hires!)

Best

Bruno