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I got put on hold and two days later got an offer. Sometimes can mean you are a second option if an existing offer doesn't get accepted, other times they have not secured funding so need leadership approval.
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That’s really reassuring, thanks for sharing that!
Usually it means they are looking at other candidates and maybe even extending an offer. If the selected candidate does not join the firm, they might give you a call.
It could also mean the company got a hiring freeze order mid recruitment.