Hi - is there a hiring freeze now formally everywhere across Big-4? Has anyone heard of it or experienced it recently? With the dawn of new year, hiring freeze has welcomed 2024.
What does it mean? How long this so called ‘hiring freeze’ continues? What happens to those candidates who were in pipeline?
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Hiring Freeze - Jan'24
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Hi there,
First of all, I am sorry to hear about your concerns regarding the hiring freeze across the Big 4!
I would be happy to share my thoughts on your questions:
- First of all, the duration of a hiring freeze can vary significantly and depends on the company's strategic decisions and market dynamics. Unfortunately, there's no standard timeframe, but these freezes typically last a few months to a year.
- Moreover, please keep in mind that hiring freezes rarely occur on a global basis but depend on the overall economic situation of the individual country entities.
- Lastly, for candidates already in the pipeline, the impact of a hiring freeze can vary. Some firms may continue with the recruitment process but delay the start dates, while others might put the process on hold. I would advise you to stay in touch with your contacts at the firm for updates and consider exploring opportunities in other sectors or consulting firms that might not be affected by the freeze.
You can find more on this topic here: Salaries in the consulting industry.
If you would like a more detailed discussion on your specific situation, please don't hesitate to contact me directly.
Best,
Hagen
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Hi there,
Despite the global brand, Big4 are very local business so there is not such thing a global hiring freeze. I have friends working in Big4 in different countries interviewing profiles this month.
However, this might be the case on certain offices / geographies depending on the business outlook. To which office have you applied or are you thinking to apply?
Best,
Alberto
—
Check out my latest case based on a real MBB interview: Sierra Springs
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There is no formally instituted hiring freeze across firms.
Instead, within certain firms, certain offices have decided to decrease or stop hiring altogether for a few months.
The situation can change literally from one day to the other, plus, it's completely outside of your control (unfortunately), so I wouldn't give it too much thought.
What you need to do instead is to create an overview of all the firms you want to apply to and then reach out to HR and ask whether they are accepting applications. That's the only reliable source to investigate.
Sharing with you a guide on how to put together an application strategy when the market is down:
Good luck!
Cristian
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Hi there,
Definitely seeing a slowdown for many offices/location and even a freeze for others.
It seems even slightly worse compared to last year and many industries outside consulting are affected as well (just check who has already announced layouts over the first two weeks of 2024 - more to come as well).
Hopeful for it to improve later in the year but for now does not look too promising..
All the best,
Florian
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Hi there,
Someone just messaged me regarding a Big4 interview.
So, no “hiring freeze” in the sense of 0 hiring :)
(Of course, there's regional differences, role differences, etc.)
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Hey,
Even if there's a hiring freeze across all the BIg4, it doesn't mean that there's no recruiting taking place anywhere.
Consider applying to T1/T2 companies, in-house consulting, boutique consulting or startups in various geographies.
Good luck!
Nick
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