Will work be remote? Will it be harder to get a full time offer? I imagine there will be a recession as a result too so will that make everything harder too, or will they just give interns FT offers and do less FT recruiting?
Hi Anonymous!
McKinsey hiring is already on the way to slow down in some geographic regions (I don't know US specifically however) - but I definitely expect that.
Work already is remote to a large extent - many clients blocked all McKinsey consultants (and other external people) from their premises, and it will most likely increase in the next few weeks.
As long as uncertainty is very high, I expect recruiting will slow down significantly more; once it's a clear downward trend and uncertainty is reduced, also consulting projects will start to increase again (think of cost-cutting and restructuring). However, during recessions in general it's getting harder to get job offers....
Hope that helps - if so, please give it a thumbs-up in with the green upvote button below!
Robert
Hello!
At this point, the situation is evolving so fast that it´s difficult to predict, since the situation changes day after day.
Logic sais that, as well as clients are slowing down... so will consulting companies. This will inevitbly lead to a slow-down in hiring -but not a total freeze, as there was not a total freeze after the fall of Lehman-.
Hope it helps!
Cheers,
Clara
Really difficult to say now
Hello,
No one can really know about the new hiring targets until we won't see which will be the impact of the corona virus on the economy. So far consulting companies are trying to move forward with the hiring process using the videocalls.
Regarding the projects, they will just follow their clients. If the client has stopped activities they stop the project, otherwise consulting companies are perfectly able to work remotely.
Anyway, even if a global crysis doesn't mean that you don't have projects (think about cost cutting or restructuring process and about all business plans that have to be reviewd) it's likely that they will slow down (but not freeze) the recruitments until they won't understand what is the real impact of the corona virus.
Best,
Luca
Hard to predict. In the absolute worst case scenario where projects come to a halt for a many months, the most likely scenario is a hiring freeze or extremely small class size for the next batch. It is unlikely they just give all interns a full time offer by default however.
Hi Anonymous,
as mentioned by Luca and Udayan, it is still difficult to predict the future evolution (the stock market performance of the last few days shows how much uncertainty there is on future trends).
Having said that, I would expect the following:
Best,
Francesco
Hi,
unfortunately, nobody now is able to predict the precise effects on each business. The 2 true facts today are that interviews are taking place regularly but online instead than face to face, and that many new consulting projects are being paused. Therefore if this lockdown continues for long it can cause a shrinking in new hires.
Best,
Antonello
Expert case by