MBA Recruiting - MBB intern class size, based on current or projected economy?

Hi there,

Q: Does MBB base their intern class hiring targets on projections 2 years out, or on the current state of the economy?

When COVID hit in 2020, most companies stopped recruiting for a couple of months. After that, they resumed hiring again. Therefore, big shocks in demand can have a short-term impact on hiring targets, even if long-term projections are positive.

Currently some companies also have an excess of consultants because they overhired, which also impacts the targets, despite not being directly linked to the current economy. Thus, besides the economy, there are also other factors at play.

Overall, I agree with Ian that this should not directly impact your application strategy (assuming you have to apply now), as it is not within your control. 

On the other hand, it could be useful to know if a specific office is hiring or not. In this way, if you can be flexible in terms of offices, you can apply for one where you know they need new hires. This is something you can mainly find out by talking with current consultants – which ideally you might want to do anyway to secure a referral.

You can find more on networking and referrals below:

▶ How to Get an MBB Invitation

Good luck!

Francesco

I'm going to say something blunt, even though I totally understand why you're asking: Why do you care?

You're spending all this energy thinking about this question and exact scenario, when it doesn't change anything you do!

Focus on networking, getting a killer resume, and applying to tons of firms now! Then, it you fail, go again the following year!

To answer your question though, there isn't this hard and fast 1 year vs 2 year “rule”. They're looking at their current pipeline, what they think might happen to their future pipeline, how attrition is looking, and what's going on with the economy. They are then deciding how many consultants they are like to need in the next 1-2 years.

Here's the question you should have asked: If I do my MBA now and recruit this coming fall, will I be at a disadvantage than if I do it in 1 year from now, due to hiring expectations?

^far better question! And, alas, we don't quite have an answer (just yet) as so many things can happen between now and then (depends on if we hit the soft landing, there is no recession, AI doesn't replace consultants quickly, there's no escalation of Ukraine + Taiwan, etc. etc.)

Hi there,

MBB does not disclose their recruiting strategies :)

What I can tell you is that because of their MBA financing policy, MBB rotate the whole business analyst cohorts every two years so I personally don't see an outlook where they stop, freeze or extremely slow down interns and business analyst recruitment.

Best,

Alberto

—

Check out my latest case based on a real MBB interview: Sierra Springs

Hi there,

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

• First of all, consulting firms typically consider a mix of current economic conditions and future projections when setting their hiring targets. They aim to balance immediate business needs with long-term growth plans.
• Moreover, they also factor in historical data and trends in the consulting industry, which helps them predict future demand for their services and, consequently, their staffing needs.
• Lastly, however, I would highly advise you to focus on your preparation in order to get the offer(s) you want instead of pondering about consulting firms' internal processes.

If you would like a more detailed discussion on how to best prepare for your upcoming interviews, please don't hesitate to contact me directly.

Best,

Hagen

Hello, 

I would recommend not focusing on this and trying to “game” the timing and system. Apply to the cycle when you feel you are ready and if it doesn't work keep applying. They basically know they have enough supply at this level, so they just increase the target when the economy gets hot or a little before/after - this adjustment is more done at the level of full time, for internships, they don't really have any pressure to convert or not. 

In the end you are really in competition with yourself only to “beat the BAR” they expect. Anything beyond this is outside of your control and will divert from you being at your best during interviews! 

Best of luck! Cheers
Nicolas Vilmin
 

It's a mix of both. If the economy is down they also cut on interns - but not as drastically as they understand that 1) the economy may improve in the meantime; 2) they get to tryout the interns and still want to select the best among them; 3) they only need to send the full time offers in a few months (almost a year), so they have extra time to define the cohort size 4) it's easier to cut on the non-intern cohort if they hire too many interns.

They cut because they still need interns to have a good experience (meaning that they will not hire interns if they have consultants “on the beach”) and of course expectations on needs for 2025 are going down a little bit.

Hi,

You'll not be able to find the answer for this question. Furthermore, each office / system will have their specific context of adjusting the actual quotas. 

Agree with the other coaches that this is not really an important question - there are plenty of more important things to focus on if you want to break into consulting.

You might've just put more thinking into how recruitment planning  should work than most firms do :)

They typically have high-level ‘targets’ at the country and office level. I'm putting this under inverted commas because the targets are not hard, they are rather guidelines. 

They also adjust through the year, so they might change from quarter to quarter. 

Best,
Cristian