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Hi everyone! I'm currently in between interviews and one company says they are waiting on a budget approval before I enter the next round. Has anyone else experienced this? Does an approval mean that they might not even open the position after interviewing? I'm stressing out!
It could mean several things, such as the director has submitted his budget to the VP of Finance for approval. The VP can approve it or send it back and tell the director to make cuts. The director is not sure what his budget will be until it is approved. The position could be a specific position that was funded by grant money or created for a certain project or task, and the director is waiting for word that the position will be funded again, or that the position will be transformed from an interim position into a permanent full time position, etc. There is always the possibility that something won't be funded; most organizations won't spend the time and money on the hiring process unless they are pretty sure funds will come though, but nothing is guaranteed.
There is no typically. Honestly keep moving. My current job was a 'we need to get the budget approved'. It was about six months from the initial interview to hire. I kept interviewing, and had several offers on the table. Luckily the budget was approved just in time!
Every company Ive dealt with gets the budget approval BEFORE interviewing. If they really haven't done this yet then you may take this as a sign of how they operate internally.
It's budget time, so everyone is getting their ducks in a row. They probably have agreement on the addition of head count, but not the final "yes" in terms of budget.
It takes as long as it takes, but it will be done before the end of the year. I would keep searching, and expect them to settle it at random date in the next month or two.
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We are about ready to start submission of the proposed 2015 budget to the Board for approval in the next few weeks, but would not be able to hire for any new positions until the budget year starts January 1, 2015. If you were in the hiring process here you would be waiting 3 months. For that reason, we don't waste our time (and the applicants) by interviewing or even announcing a new position until January. Often that means a lot of positions open the first month or two of the year.
Generally speaking I wouldn't hold my breath for positions which require budget approval. That could mean a lot of things, but it means one thing for sure; this position is not funded at the proposed level within the currently allocated budget. Funds can be found in the current budget, or they may not hire the position, or they may defer to next FY, who knows. Keep applying for other jobs.
Quote:
Originally Posted by Spaten_Drinker
Budgeting for the next year starts in September. I am not sure when they are finally approved and funded.
Well, it depends on when the fiscal year actually ends. Not all companies end their fiscal year with the calendar year. The federal budget starts in October, many state budgets start in July. Companies are free to choose when their fiscal year starts.
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