Asking for offer deadline extension?

Question

(Experienced Hire, in the US) I'm currently interviewing for a consultant role at several firms, and the two firms I really want to work for (both MBB) have their first round interviews scheduled with me more than 3 weeks away. One of the current firms I'm interviewing for (Big 4/Boutique) seems like they may extend me an offer as early as next week.

If that were to happen, how would I politely request an extension for a yes/no decision from HR and the hiring managers, without giving away the fact that I'm simply biding time until I have a chance to finish my MBB interviews (especially since even the MBB 1st rounds are almost a month away)?

As an experienced applicant, I'm trying to not disclose the fact that I'm asking for an extension only for the sake of completing interviews at other firms, as it may obviously come across that MBB is my first choice over this current firm (which may lead to a negative impression, exploding offer or even rescinded offer).

Any advice would be appreciated from other experienced applicants who may have been in similar situations! I'm definitely going to try and move my MBB interviews up if I have an offer on the table, but I doubt I'll be able to fit both rounds for both firms within the same 2 weeks.

I know one option is to simply accept the current firm's offer if extended, and renege once I hear back from MBB, but are there any potential negative ramifications of this approach (besides possibly being blacklisted at the current firm for the next few years if I cancel their offer after accepting)? Would love to hear thoughts on how I can word my request, if/when the time comes.

For context, the base salaries (US) for all firms I'm interviewing for are pretty much the same, including MBB, so comp isn't really a concern, it's more the doors that having MBB on my resume would open for me down the road :)

Answer 1

Hello!

What you flag is a very common situation that has happened to many of us, and it´s a very big and legit concern. I think you are thinking about it the right way.

The thing to avoid is having an offer with them, whose deadline is before the MBB interview. And with how you describe it, that scenario is very real for you.

Hence, I would for sure try to push those interviews 2-3 weeks. Don´t tell them the real reason: tell them you are so interested in them and want to arrive at 100% of your capabilities, and in these weeks u are so busy that you cannot focus properly on that.

Hope it helps!

Cheers,

Clara

Answer 2

Hi there,

congrats on passing the CV screening and having your interviews scheduled. I am an experienced hire myself and from my point of view and experience I would recommend being honest sharing that you are in multiple recruiting processes and before deciding you would like to have all the options on the table to decide correctly. This may put you in a better position to negotiate your conditions (they know it is competition), but also shows your sincerity and maturity. They must imagine that you are trying different firms. If any company pushes you to sign, I would be very careful with that. I can definitely confirm the MBB waits.

When I was applying to BCG, I was in a multiple recruiting processes and one company was faster than BCG. This other firm knew I was waiting for BCG, still they gave me deadline. I hence communicated my deadline to BCG and they moved faster (giving me the offer). Then BCG waited for me 5 months to start (i went for a trip) and they were absolutely OK. It is the other way round, still it is ok to be honest.

Good luck with your interviews!

Lucie

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Answer 3

Hi there,

Please do not reach out to them before you have an offer!

I repeat, do not ask them to extend their yes/no decision for you.

If/when they physically extend an offer to you (and only then) can you then ask to delay the signing date.

Basically, they will send you the offer and indicate you have until x date to decide.

You can counter them at that point and say “Due to personal circumstances I need additional time to consult friends/family to make a decision here. Is there any possibly of extending the deadline”.

Your other option (it can be an “and” option) is to start negotiating. If you ask to negotiate on x and y, that can further extend the deadline as you work through the details.

Good luck!

Answer 4

I would worry about it when the time comes (i.e., you have an offer in hand). From there, you can reach out to the MBBs saying that you have an offer from a competitor and would like to see if they can accelerate the process for you (which often happens) AND you can also let the firm who have extended you the offer that you would like more time. This happens all the time where its best to react based on the responses you receive (e.g., some firms will be very firm on an exploding offer vs. other who will accommodate to ensure the candidate makes the ‘right’ decision, or declines the offer before their start date, etc.)

Answer 5

I agree with Ken's approach here. It needs to be two-pronged

Firstly - get in touch with MBB and let them know that you have a competing offer and they are your first choice. It would be great if they can accelerate the process for you.

Secondly - Firms tend to give 1 to 2 weeks to accept an offer and it is completely fine to request an extension. You can position it as you are on leave without access to the internet and would like to think it through as you might be debating between two very different careers.

Finally - The ramifications of accepting and reneging are generally lesser than we give importance too (this is obviously a personal opinion). It happens and companies also plan for this. It might feel like because we are doing this for the first time it doesn't happen often enough. Large companies plan for cross offers and such situations. However, you do lose face and might get blacklisted. Hence, this should be your last resort.

A caveat to this approach. I would not apply it to small firms where the industry is tight. PE is a good example where it is common to jump ship but at the same time try to burn as few bridges as possible as the sector overall is tight and partners know each other pretty well.

Answer 6

Hi there,

Agree with Ken here - he laid it out quite nicely.

One thing I would not recommend is to accept an offer just to renege later. It's simply bad etiquette - there's no need for that in your situation.

Cheers, Andi