diff --git a/packages/babel-cli/src/babel/dir.ts b/packages/babel-cli/src/babel/dir.ts
index c65536a3e93f..69fb12b993ff 100644
--- a/packages/babel-cli/src/babel/dir.ts
+++ b/packages/babel-cli/src/babel/dir.ts
@@ -149,31 +149,32 @@ export default async function ({
     startTime = null;
   }, 100);
 
-  if (cliOptions.watch) watcher.enable({ enableGlobbing: true });
-
-  if (!cliOptions.skipInitialBuild) {
-    if (cliOptions.deleteDirOnStart) {
-      util.deleteDir(cliOptions.outDir);
-    }
+  const initialBuild = async () => {
+    if (!cliOptions.skipInitialBuild) {
+      if (cliOptions.deleteDirOnStart) {
+        util.deleteDir(cliOptions.outDir);
+      }
 
-    fs.mkdirSync(cliOptions.outDir, { recursive: true });
+      fs.mkdirSync(cliOptions.outDir, { recursive: true });
 
-    startTime = process.hrtime();
+      startTime = process.hrtime();
 
-    for (const filename of cliOptions.filenames) {
-      // compiledFiles is just incremented without reading its value, so we
-      // don't risk race conditions.
-      // eslint-disable-next-line require-atomic-updates
-      compiledFiles += await handle(filename);
-    }
+      for (const filename of cliOptions.filenames) {
+        // compiledFiles is just incremented without reading its value, so we
+        // don't risk race conditions.
+        // eslint-disable-next-line require-atomic-updates
+        compiledFiles += await handle(filename);
+      }
 
-    if (!cliOptions.quiet) {
-      logSuccess();
-      logSuccess.flush();
+      if (!cliOptions.quiet) {
+        logSuccess();
+        logSuccess.flush();
+      }
     }
-  }
+  };
 
   if (cliOptions.watch) {
+    watcher.enable({ enableGlobbing: true });
     // This, alongside with debounce, allows us to only log
     // when we are sure that all the files have been compiled.
     let processing = 0;
@@ -242,5 +243,9 @@ export default async function ({
       processing--;
       if (processing === 0 && !cliOptions.quiet) logSuccess();
     });
+
+    watcher.onReady(initialBuild);
+  } else {
+    await initialBuild();
   }
 }
diff --git a/packages/babel-cli/src/babel/file.ts b/packages/babel-cli/src/babel/file.ts
index ac80c9caba42..2b4e0c42818f 100644
--- a/packages/babel-cli/src/babel/file.ts
+++ b/packages/babel-cli/src/babel/file.ts
@@ -191,15 +191,13 @@ export default async function ({
   }
 
   async function files(filenames: Array<string>): Promise<void> {
+    const initialBuild = async () => {
+      if (!cliOptions.skipInitialBuild) {
+        await walk(filenames);
+      }
+    };
     if (cliOptions.watch) {
       watcher.enable({ enableGlobbing: false });
-    }
-
-    if (!cliOptions.skipInitialBuild) {
-      await walk(filenames);
-    }
-
-    if (cliOptions.watch) {
       filenames.forEach(watcher.watch);
 
       watcher.onFilesChange((changes, event, cause) => {
@@ -218,6 +216,10 @@ export default async function ({
           console.error(err);
         });
       });
+
+      watcher.onReady(initialBuild);
+    } else {
+      await initialBuild();
     }
   }
 
diff --git a/packages/babel-cli/src/babel/watcher.ts b/packages/babel-cli/src/babel/watcher.ts
index 0c1d3756984e..02d69f61c587 100644
--- a/packages/babel-cli/src/babel/watcher.ts
+++ b/packages/babel-cli/src/babel/watcher.ts
@@ -51,16 +51,30 @@ export function onFilesChange(
     );
   }
 
-  watcher.on("all", (event, filename) => {
-    if (event !== "change" && event !== "add") return;
-
+  const listenerFactory = event => filename => {
     const absoluteFile = path.resolve(filename);
     callback(
       [absoluteFile, ...(depToFiles.get(absoluteFile) ?? [])],
       event,
       absoluteFile,
     );
-  });
+  };
+
+  watcher.on("add", listenerFactory("add"));
+  watcher.on("change", listenerFactory("change"));
+}
+
+/**
+ * Call @param callback when watcher is ready for changes.
+ */
+export function onReady(callback: () => void): void {
+  if (!isWatchMode) {
+    throw new Error(
+      "Internal Babel error: .onReady called when not in watch mode.",
+    );
+  }
+
+  watcher.on("ready", callback);
 }
 
 export function updateExternalDependencies(
diff --git a/packages/babel-cli/test/fixtures/babel/dir --out-dir --watch --verbose with external dependencies/executor.js b/packages/babel-cli/test/fixtures/babel/dir --out-dir --watch --verbose with external dependencies/executor.js
index fcf460a0347b..13e64114e2be 100644
--- a/packages/babel-cli/test/fixtures/babel/dir --out-dir --watch --verbose with external dependencies/executor.js	
+++ b/packages/babel-cli/test/fixtures/babel/dir --out-dir --watch --verbose with external dependencies/executor.js	
@@ -4,7 +4,7 @@ const assert = require("assert");
 // For Node.js <= 10
 if (!assert.match) assert.match = (val, re) => assert(re.test(val));
 
-const run = (async function* () {
+const run = (function* () {
   let files = [yield, yield].sort();
   assert.match(files[0], /src[\\/]index.js -> lib[\\/]index.js/);
   assert.match(files[1], /src[\\/]main.js -> lib[\\/]main.js/);
@@ -12,8 +12,6 @@ const run = (async function* () {
 
   logFile("lib/index.js");
   logFile("lib/main.js");
-  // wait 200ms for watcher setup
-  await new Promise(resolve => setTimeout(resolve, 200));
   fs.writeFileSync("./file.txt", "Updated!");
 
   files = [yield, yield].sort();
@@ -30,7 +28,7 @@ run.next();
 const batchedStrings = [];
 let batchId = 0;
 
-process.stdin.on("data", async function listener(chunk) {
+process.stdin.on("data", function listener(chunk) {
   const str = String(chunk).trim();
   if (!str) return;
 
@@ -51,7 +49,7 @@ process.stdin.on("data", async function listener(chunk) {
     console.log(str);
   }
 
-  if ((await run.next(str)).done) {
+  if (run.next(str).done) {
     process.exit(0);
   }
 });
diff --git a/packages/babel-cli/test/fixtures/babel/dir --out-dir --watch multiple dir/executor.js b/packages/babel-cli/test/fixtures/babel/dir --out-dir --watch multiple dir/executor.js
index 1d480afb2637..ddd810e3aa90 100644
--- a/packages/babel-cli/test/fixtures/babel/dir --out-dir --watch multiple dir/executor.js	
+++ b/packages/babel-cli/test/fixtures/babel/dir --out-dir --watch multiple dir/executor.js	
@@ -4,11 +4,9 @@ const assert = require("assert");
 // For Node.js <= 10
 if (!assert.match) assert.match = (val, re) => assert(re.test(val));
 
-const run = (async function* () {
+const run = (function* () {
   assert.match(yield, /Successfully compiled 4 files with Babel \(\d+ms\)\./);
 
-  // wait 200ms for watcher setup
-  await new Promise(resolve => setTimeout(resolve, 200));
   // update ./module1/src/index.js
   fs.writeFileSync(
     "./module1/src/index.js",
@@ -20,13 +18,13 @@ const run = (async function* () {
 
 run.next();
 
-process.stdin.on("data", async function listener(chunk) {
+process.stdin.on("data", function listener(chunk) {
   const str = String(chunk).trim();
   if (!str) return;
 
   console.log(str);
 
-  if ((await run.next(str)).done) {
+  if (run.next(str).done) {
     process.exit(0);
   }
 });
diff --git a/packages/babel-cli/test/fixtures/babel/dir --out-dir --watch with external dependencies/executor.js b/packages/babel-cli/test/fixtures/babel/dir --out-dir --watch with external dependencies/executor.js
index 29730dc333e3..e22bb7e8e46f 100644
--- a/packages/babel-cli/test/fixtures/babel/dir --out-dir --watch with external dependencies/executor.js	
+++ b/packages/babel-cli/test/fixtures/babel/dir --out-dir --watch with external dependencies/executor.js	
@@ -4,13 +4,11 @@ const assert = require("assert");
 // For Node.js <= 10
 if (!assert.match) assert.match = (val, re) => assert(re.test(val));
 
-const run = (async function* () {
+const run = (function* () {
   assert.match(yield, /Successfully compiled 2 files with Babel \(\d+ms\)\./);
 
   logFile("lib/index.js");
   logFile("lib/main.js");
-  // wait 200ms for watcher setup
-  await new Promise(resolve => setTimeout(resolve, 200));
   fs.writeFileSync("./file.txt", "Updated!");
 
   assert.match(yield, /Successfully compiled 2 files with Babel \(\d+ms\)\./);
@@ -21,13 +19,13 @@ const run = (async function* () {
 
 run.next();
 
-process.stdin.on("data", async function listener(chunk) {
+process.stdin.on("data", function listener(chunk) {
   const str = String(chunk).trim();
   if (!str) return;
 
   console.log(str);
 
-  if ((await run.next(str)).done) {
+  if (run.next(str).done) {
     process.exit(0);
   }
 });