Post-interview, company holds off hiring, what should i do?

Hey guys, I recently interviewed with a private equity firm, initially interviewed with the Director, then met two VP and finally interviewed with their MD for their associate position. It was referred by a friend of mine in the firm who is also an associate. After haven’t heard from them for two weeks after my interview, i called the director and he told me their deal flow was not as quite good as they thought and would hold off the hiring plan for the next 3-6 weeks. I know from my friend there they have good feedback on me and I am the only candidate they are interviewing with. So there should be a problem with my qualification. So what should i do now? Should I continue to follow up with the Director every two weeks? I mean if they know business flow was not as rapid as they thought initially, why continue to interview with me? I kinda feel depressed. Sorry to complain here. I am still very interested in the position and wish they don’t shut the door on me. Thanks for all the advice!

Do you guys think i should send email to the director every two week or so just remind him I am still interested. Since they are a telecom focused Private Equity, I am thinking send them some info or my comments on the industry update. Do you guys think its appropriate? Market is bad these days, i just don’t want let any opportunity slip away… Thanks again.

Pretty obvious answer–ask the guy how often you should follow up with him. Then do what he says.

Just set a time with him to “get up to date” with where they are in call in then. If they are interested in you this is probably OK with them as it lets them see where you are down the road too (since you could change your mind). I wouldnt just automatically call every two weeks.

Where is this position? I am in an almost identical situation myself…

Slightly different situation, as illustrated in my other post. The agent, who told me two news: The good one is that the company are creating a new position that is more quant driven as they think it suits me better which should be ready within two weeks. The new manager will explain to me face to face, once it has all the sign off within two weeks. The bad one is that the other guy who they think is slightly more experience than me has the initial job that I appied for. Of course that there is no 100% guarantee that the new job will be available, but the hiring manager says he is very confident that will be the case. Coming back to your case, I would remind him that you are still keen on a weekly basis, as this should just be enough before he get annoyed.

Having them design a job to fit you is good news, on a lot of fronts.

bchadwick, thanks. Itt is still early days and I do not want to think that this is 100% guaranteed. Still active interviewing just in case

I guess the best approach from everyone’s feedback is ask my friend who works there if things are getting better and then follow up with the Director. My friend even told me when the Director called me back on the “no hiring plan for now”, he even consulted the VP who interviewed me (and i have very good feedback from her) on her opionion on me… I think the Director should still unsure on the hiring, otherwise he won’t ask his ppl on my feedback… Market is so bad these days, feel really pissed on job hunting.

I was in a similar situation w/ a HF until last month they ultimately decided to not hire anyone. They told me that I was their top candidate during the last month or so before the decision and I had been waiting over two months after second round interviews while they continued their process. It was unfortunate for me since it was basically exactly what I wanted to do and I thought I had a relatively good chance to land it so I didn’t continue my search with other firms. Anyway, I don’t think how often you follow up will determine whether you get the job, just be reasonable and convey your interest in the firm–they know you’re out there. However, I would prepare yourself mentally that they might not move forward and look at other options if possible.

VOBA, thanks for the advice and I feel so unfornate for you. It must be a painful feeling to almost land what you wanted, then the door shut on you. And what’s even worse is its not because the qualification, but overall market. I am a bit different from you guys, actually based in China and thought the situation in PE should be quite better than the states… Anyway, i hope you can find what you want soon and i understand exactly how you feel.

Do NOT follow up with them. You have an insider who will keep you up to date. Rest will just show the firm you are desperate (what you should NOT look like). If they want to hire, they will not because you annoy them every two weeks, but because they liked you and have a need for resources.