Hi,
After one month of giving my digital assessment i received the following email.
We regret to inform you that we are not able to move forward now, but if that changes, we will contact you before the end of the year.
What does this mean exactly?
I had applied for McKinsey Dubai office for an associate role
(editiert)
Hi there,
Sorry to hear!
McKinsey Dubai (and the whole Middle East) is one of the few areas that are still hiring a lot at the moment, so I don't believe it is related to the situation in other countries (hiring slowdown or even freeze).
For Dubai, your chances with other firms should still be valid.
For other areas, I want to share three observations:
Personal experience
Some of my clients' interviews were already rescheduled for next year.
Impact on hiring
While for all firms fewer people make it through resume screening, only some firms adjust the bar for the interviews. The latter are happy to find enough people to make it through the selection process. In that case, they would extend offers, potentially with starting dates further in the future.
We might even see a full hiring stop, depending on how bad the situation becomes.
Impact on engagements and job security
External advisor spending is usually one of the first expenses to be cut during an economic crisis.
Yes, recovery and transformation projects increase, but every other consulting vertical decreases by much more. I have been told stories from 2008/09, where new hires were not staffed for 6 months and then let go without ever having worked on an actual engagement.
It all depends on how bad the global economic situation is going to get. My hunch is we see a partial to full-hiring stop by early next year for a couple of months up to 1 year. Let's hope I am wrong :-)
On top of that, keep in mind that tech firms and other industries already started their lay-offs, which means that the potential supply of job seekers increases even more compared to now lower demand for them.
At this point, it makes sense to have valid backup options available, potentially for industries that are less affected by external events (e.g., pharmaceuticals)
Cheers,
Florian
It means that your interviews will be rescheduled for Q1 or Q2 2023. This is the consequence of a quite significant slowdown in business.
Practically, it also means that the bar is higher. Higher because more candidates will be assessed against each other as a consequence of a hiring bottleneck, and higher because fewer places will be available.
In particular, it will be extremely unlikely to get an offer as an Engagement Manager or Associate Partner, but partially also for an Associate.
The only things you can do is to (1) apply for other firms, and (2) hone your consulting skillset before the interviews.
Hello,
This is quite unfortunate news! Honestly, from my experience of recruiting with Middle Eastern companies - hiring is definitely not slowing down. Especially with Riyadh and Doha markets booming.
However, specifically for McKinsey Dubai - my hunch is that they might be moving their focus more towards hiring in their Riyadh office. If you are open to applying to Riyadh, consider expressing your interest to the recruiter and see how things go ahead.
If you need any further help with Middle East recruiting - feel free to reach out to me.
All the best!
Rushabh
Hi there,
Q: I received the following email. We regret to inform you that we are not able to move forward now, but if that changes, we will contact you before the end of the year. What does this mean exactly?
Seems they have the pipeline full and cannot proceed with interviews right now. I would assume the worst case and that they won't proceed forward (you cannot control whether they will ever call you again) and focus on other firms.
If things get better and they call you, that’s great, but would not count on it and just consider it as a bonus in your application strategy.
Good luck!
Francesco
Hi there,
Of course you still have a chance! One company has rejected you. There are hundreds others out there.
For McKinsey, your “chance” this year is gone. But you can re-apply in 1 year.
For the others, get networking! As you get referrals/contacts, apply. And, make sure your resume and assessments are as strong as possible!
If your goal is to work in consulting, you should go broad with your applications. It's ultimately a numbers game and the current economic situation certainly doesn't help. But there can always be plenty of reasons as to why a particular company might reject you. Don't remain in a holding pattern just waiting for that “one” response. Continue with other firms (if you haven't already done so) and re-assess when you have more feedback from different sources
You will still have a chance to recruit. But later, and with a higher bar. But consulting firms recruit all the time (even if they occasionally postpone interviews for a few months).
