I can see someone being put on hold within the first minute:

"XYZ Company, please hold. XYZ Company, please hold. XYZ Company, please hold. Thank you for holding, how may I help you?"

As opposed to a law office, that can't get all the partners' names in within a minute ("Thank you for calling the law offices of XYZ, PDQ, RDB, MGD, RLI, ROI, YTQ, and Associates. May I place you on hold for a minute?").

Otherwise, I can definitely see a call being placed on hold within the first minute.

Justin