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EY's Delayed Start Dates: Isolated Decision or Industry Warning Sign? Understanding the Evolving Dynamics Between MBB and Big 4 Consulting Firms

Hi,

Is EY's decision to delay undergraduate start dates an isolated case or indicative of broader economic concerns in the consulting industry? Will it happen to MBB?

What are the substantive differences between MBB consulting firms and Big 4 firms beyond reputation? How do work, clients, compensation, and career trajectories differ? More often than not, I heard MBB partners with C-suite level, but don't other Big 4 companies do similar things as well? 

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Mihir
Coach
on May 16, 2025
McKinsey Associate Partner and interviewer | Bulletproof MBB prep

All interesting questions. The consulting industry as a whole saw something of a downturn through 2024 but things are picking back up again at MBB, to my knowledge. 

It’s a little tricky to talk about other firms’ plans as I don’t have the inside view. At least at McKinsey in APAC there didn’t seem to be any concerns around delaying start dates or cutting down on hiring.

To your other question: the differences between MBB and Big 4 are indeed substantive.

Work:

MBB usually wins the big, top-of-house strategy projects that will determine a company’s future for the next 5-10 years, working with C-Suite. There’s less opportunity for this kind of work with F500 or equivalent companies at a Big 4.

MBB and Big 4 both do implementation, transformation, cost reduction and all the other types of consulting project, but these big strategy projects with name brand corporations are one of the major differences.

Also, due to the high cost of an MBB project, they tend to be short and sweet (usually less than 3 months staffing, often 6-8 weeks). That means exposure to lots of different projects and clients.

Comp: 

MBB comp is higher than Big 4 at every level but there’s a noticeable widening of the gap from Principal / Associate Partner onwards. Worth checking Glassdoor for reference.

Career trajectory:

Not that much difference here - the analyst > associate > manager > associate partner > partner > senior partner track is relatively consistent across most consultancies, even if the names change between firms.

Client relationships:

I don’t know exactly how Big 4 Partners approach C-level relationships. At MBB, the approach is to become a trusted advisor and confidante to the executive. Many MBB senior partners I know are great friends with the C-Suite execs they support and will routinely meet and socialise outside of work. These senior partners are often the first person the exec will call for advice outside of their own exec team.

Hope this helps. Give me a shout if you’d like any support preparing for your applications.
 

on May 16, 2025
#1 Rated McKinsey Coach | Top MBB Coach | Verifiable success rates

Lots of great questions but honestly anything that we can share here is nothing more than an opinion. 

The fact is that these firms represent the most serious financial institutions or firms on a global level. They have a reputation that they've build over long periods of time and they tend to be reliable. 

But yes, of course, in tough economic times, they might also take decisions which are unpopular. 

Which ones will choose to do so? When? Impossible to tell. 

The only way you can protect yourself from situations like these is by being adaptable and working on having alternatives in case your core option doesn't work out. 

That's about it. 

Best,
Cristian

Alessa
Coach
on May 16, 2025
xMcKinsey & Company | xBCG | xRB | >400 coachings | feel free to schedule an intro call for free

hey there

EY’s delayed starts reflect their own demand shifts, not necessarily an industry-wide issue. MBB hasn’t followed suit broadly. MBB differs from Big 4 in focus (more strategy vs. implementation), client level (more C-suite), compensation (generally higher), and career exits (broader and faster at MBB).

Alessa

Hagen
Coach
on Jul 02, 2025
#1 recommended coach | >95% success rate | 9+ years consulting, interviewing and coaching experience

Hi there,

I would be happy to share my thoughts on your questions:

  • First of all, major strategy consulting firms are also delaying start dates, depending on the firm, region and country, so this is not exclusive to EY. Also, what is the reason behind your question? If you're trying to find the best time to apply, it's when you're about 80% prepared for the interviews, regardless of the macroeconomic situation. Apart from a brief period during the pandemic, there has never really been a complete hiring freeze in any region or country.
  • Moreover, I would advise you to research the websites of your target consulting firms to gain a better understanding of the industries they cater to and the capabilities they offer. Also, I would advise you not to fall for the prestige fallacy. Apart from obviously for applicants, prestige hardly matters.

If you would like a more detailed discussion on your specific situation, please don't hesitate to contact me directly.

Best,

Hagen

Pedro
Coach
on May 19, 2025
Bain | EY-Parthenon | Former Principal | 1.5h session | 30% discount 1st session

It's the third time in a row that EY does that. Looks like they keep overplaying their hand in recruiting, placing a bet that the market will take off. 

1-2 years... it happens, 3 years in a row... it's either strategy or bad planning.

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