Hiring Freeze

Question

I recently heard abouT and saw videos on the current hiring freeze at MBB firms due to economic uncertainty. From my introductory calls with coaches, no one really mentioned it and many said there’s no such thing. It’s clear that if there is a hiring freeze the competition is even greater (the best of the best). Why are coaches not talking about this? wouldn’t a hiring freeze affect their stats (less coaching clients will get hired)?

Answer 1

Hi there,

It's definitely a thing. Hiring is down.

It does depend on the region, and, even with official freezes, interviews and offers do still get made. Personally, I still do have candidates interviewing and get offers, but it's nothing compare to 2021 / 2022.

Yes, the bar was lower in 2021 / 2022 and I saw candidates that weren't ready get MBB. And the bar is higher were I see excellent candidates still get turned down.

What does this mean?

More now, than ever before, you need to:

Apply to as many firms as possible
Network as well as possible
Has as good an application as possible
Be as good a caser/interviewee as possible

You have to be better and work harder for the same result.

Answer 2

Hi there,

I actually feel like the hiring freeze is all that we talk about :)

I even wrote a guide for candidates on specifically how to work around the limitations brought by the hiring freeze. You can read it here:

Maximising your chances of getting a consulting job during an economic downturn

So I'm a bit surprised to hear that the coaches you've spoken to don't speak about it. It's here indeed, but a bad market situation doesn't mean that you can't get a job, but that you need to be even better than before. That makes an even stronger case for getting coaching from my point of view.

Best,
Cristian

Answer 3

Cynically speaking, if the coach tells you straight up there’s a definite hiring freez, would you still willing to take multiple sessions with them now? Also the ‘success rate’ is pretty much a marketing pitch, it’s not like you can verify that and there’s way too many coaches boasting ”90% success rate from mentee” which is orders of magnitude higher than general success rate

Answer 4

Hello,

I also feel like we talk a lot about the hiring freeze, and would be happy to talk you through any parts of it that you have questions about :) it's definitely true that hiring is a bit slower right now, but it's still possible to get a job. Our job as coaches is to help our clients get to the best of their potential and maximize their chances of getting an offer.