Colour on the hiring scene for Q3/Q4 2023 - London specifically

Hi there,

Ok, so please please take my answer with a grain of salt.

From my experience, these cycles rarely last more than a year. Covid really spun everything out of wack, so any predictions are particularly hard to make (consulting and tech firms grossly overhired last year, and have seen a sharp fall in demand this year), but I am somewhat optimistic that things start to pick up in the late summer/fall.

When I say pick up, I mean hiring starts to pickup again (instead of the almost standstill we have), not comes roaring back. If I were a betting man and a candidate, I would be targeting July/August (all things equal, i.e. I'm not in a set recruiting channel).

All this said: It doesn't “matter". Get back to your contact at the firm, see if they say September is good (ask in July/August), and if they say apply, apply! Try to focus on what you can control (your resume, your networking, your case performance), and less on things you can't (economy). Speak to that firm in particular when you're ready and they will tell you if you should apply or not :)

Good luck!

Please make sure to read the following to ensure you are ready for the interview the 2nd time around!

https://www.preplounge.com/en/articles/pitfalls-case-interview-preparation

https://www.preplounge.com/en/articles/how-to-shift-your-mindset-to-ace-the-case

https://www.preplounge.com/en/articles/dos-and-donts-in-a-case-interview

Hi there, 

My expectation is that hiring is going to go up again in the second half of the year. 

But indeed, like you said, this is a crystal ball kind of question. 

Focus instead on what you can control. I wrote an article that details out how to adjust your application strategy to maximize your chances of getting at least one offer. You can read it here:

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

Best,
Cristian

Hi there,

As your rightly said, its difficult to predict.

However, I don't think things would change in Q3 and can imagine the recruitment actively coming back if there is a drstic increase in demand and the firms are under capacity in Q3 which is an unlikely scenarion.

You should check through your network first if the recruitment for you level is open or not before applying.

Good luck,

Lilit

Dear candidate,

 first of all, best is to look at it more like your own individual situation, your goals and your flexibility. Second, hiring varies from region, focus,firm. Generally many firms hire also Sept, Oct, activities during end of year slow-down due to X-mas period, most keep general applications open but if you were to apply in December it may be a bit late to get a great grip or at least to get fast responses. Third, besides this all sounds great about your career switch, a finance background often goes well with proving your analytical,structuring and professional skills. 

Best regards.

Hello,

As you say, these things are hard to predict, and will vary by firm/region. My estimate (for North America at least) is that, based on the current state of the economy, recruiting will continue to be slow later this year, but firms will be hiring. That shouldn’t deter you from applying when you feel ready, however – it’s hard to predict these broad dynamics and when they will change

Hi there,

these predictions are difficult to make. I would suggest you proactively reach out to your target firms and talk to them about your & their situation.

Best regards

Andreas