Que tal!

I'm sorry you are in this position. Top-tier Consulting is a tough enough job already and one would naturally prefer not to transition in this manner, but it cannot always be helped. 

To answer your 2 questions:

1) 6 - 12 weeks

Depending on the circumstances and the nature of one's PIP, you can expect to be given at least 6 weeks, but usually not longer than 3 months.

Factors that would ultimately dictate the duration include:

• Duration of your PIP: if you were placed on a PIP and then had that PIP extended (i.e., missed asssessment bar to be ssuccessfully rolled off PIP and regularised), then I would expect your grace window of departure to be shorter.
• Aggravating circumstances: if your PIP was motivated by malfeasance factors other than performance (i.e., improper conduct), I would expect a shorter grace period.
• Tenure: if you had only been at your MBB for less than a year and/or were at a lower hierarchy, I would likewise expect your grace period to be shorter.

Most of the grace periods I have seen have been at least 2 months. Your own experience could also vary by office: geographies with greater labour protections will generally have longer grace windows. Conversely, with the ongoing cautious outlook in the Consulting industry globally, one might find that the more generous elements of the PIP manage-out process are more constrained.

2. Usually? Yes, you can expect to receive a package of sorts.

One should generally expect to paid their usual salary at 100% of one's pre-PIP salary for the duration of the grace window. No adjustments.

However, if one elects to immediately exit one's firm upon confirmation of failing one's PIP, one would still receive the equivalent salary as what would have been paid had one stayed the duration of the grace window.

A caveat to mention is that with the heightened cost consciousness going on at the moment, these terms could very well be altered not in your favour.

I do not recommend exiting immediately if given a choice for 2 reasons:

1. Ease of Search: your search for your next opportunity will likely be easier when undertaken from within your current firm which would grant you near-unfettered access to firm resources; and
2. Extension of tenure: exploiting your full grace window generally allows you to extend the tenure you worked at your MBB thus strengthening the degree to which you can leverage the MBB brand on your CV in the future.

In truth, the only 2 reasons I can think of for declining the grace window are if: i) you have already landed your desired transition and they require you to start early; and/or ii) extreme personal distaste for your outgoing firm necessitates parting ways as a means to preserve a measure of emotiona/psychological well-being.

Always remember: not winning at MBB does not correlate to failing at life. Now focus on landing on your feet! 

Suerte!  😎

(editiert)

Dear Hola,

First of all,this is a great time to build a super path to stay on in a new role with the firm. Openly explore this with them and find great opportunities upfront where you see you might be a great fit. 

Secondly in case you want to go, how it is handled, or how they handle it from their side varies much, you can negotiate, but what would be better than negotiating staying on?

Best regards, 

Pope

Sorry to hear that. Many people get PIPs and that is okay because consulting is not for everyone. All go on to find successful careers elsewhere and end up happier.

Answer to your questions

1. Duration of grace period -  depends on length of stay at the firm. For those who have been there under a year it is very short, and if you have worked there over 3 years it can be 2 months or more. HR usually has clear policies here.

2. No layoff package - you are not being let go as part of restructuring but because of performance. The grace period is fully paid for and you are not expected to work then so in some ways that is your package.

All the best to you,

Udayan

(editiert)

Hi there,

It sounds like you have already “accepted” your fate. If you can, I recommend you still try to fight it out. Figure out exactly what you need to improve on (they tell you very directly) and work to fix it!

You're getting paid a salary right? A good one…why not invest that in a coach so that you can keep that salary?

1. How long is the duration typically they give before we need to exit the firm?

Generally a couple of months. They also help you find a new role.

2. In this case, will they give us some layoff-package ?

Generally no.

Message from a candidate of mine at risk of being asked to leave. From last week. He's now currently on track to stay.

(editiert)

Hi there, 

Sorry to hear about the situation.

The process is different depending on the region. 

On average, they give you 2-3 months to look for something else. 

There is usually some sort of severance package. 

The best cases I've heard of are in Germany and France, with people being given close to a year to do close to nothing and still receive their salary. 

Best,
Cristian

Hi there,

Depends on the firm, tenure and geography. In BCG Europe, it's usually 4-6 months but no package (as you are paid during these months, yet not working)

Hope this helps,

Clara

Hello,

Sorry to hear about your situation. To answer your questions:

1. Depends on firm, but this is usually tied to your tenure. Around 6-12 weeks is a reasonable general assumption.

2. Unfortunately not