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7

How are things in Middle east? Are firms getting business at all?

Hi,

I heard that BCG is cutting summer associates' pay in the Middle east since they hardly have any work for them. Are the firms facing a lot of problems in getting business? I am concerned because I have an offer from a top tier firm there and I am worried that either they will rescind the offer or fire new joinees like me under the FIFO (First in First Out) norm.

Can someone tell me the reality of the situation out there in firms like Strategy&, BCG, OW?

Thank you!

Hi,

I heard that BCG is cutting summer associates' pay in the Middle east since they hardly have any work for them. Are the firms facing a lot of problems in getting business? I am concerned because I have an offer from a top tier firm there and I am worried that either they will rescind the offer or fire new joinees like me under the FIFO (First in First Out) norm.

Can someone tell me the reality of the situation out there in firms like Strategy&, BCG, OW?

Thank you!

(edited)

7 answers

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Best Answer

Dear A,


Generally speaking, companies are facing some troubles, including BCG with cutting costs for Vision-2030, Oliver Wymann, Strategy&, Roland Berger, Kearney etc. In fact, Kearney for this moment even frozen hiring for the entire region, until the situation clears up. I have a lot of insights, because I helped multiple people to join companies, you've mentioned in Dubai over the past 2 months.

If you need further details, feel free to reach out.

Best,

André

Dear A,


Generally speaking, companies are facing some troubles, including BCG with cutting costs for Vision-2030, Oliver Wymann, Strategy&, Roland Berger, Kearney etc. In fact, Kearney for this moment even frozen hiring for the entire region, until the situation clears up. I have a lot of insights, because I helped multiple people to join companies, you've mentioned in Dubai over the past 2 months.

If you need further details, feel free to reach out.

Best,

André

Hi-I am a 1st year MBA at a T20 Business School looking to recruit for full time in Oct 2020 for roles starting in 2021. I am interested in FS/PE Consulting. Can you please share whether there is anything to worry. I am international student so ME is closer to my home. — Anonymous B on May 27, 2020

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Hi there,

A few things:

1) Your offer should be safe in a top-tier firm

2) The top-tier firms are very nimble. The are notoriously "immune" to economic cycles. This is because:

  • When the economy does well, MBB are hired to help companies do even better
  • When the economy does poorly, MBB are hired to help companies survive (cost costs, adapt, plan for the new world)

I can tell you that MBB are hustling hard and that when companies are in trouble, they look to MBB first for guidance. Strategy consultants help firms navigate uncharted territory...these times are when they're most needed

3) All this being said, plan for the worst. It doesn't hurt to hunt a second offer, find side income, apply for a secondary degree, etc.

Hi there,

A few things:

1) Your offer should be safe in a top-tier firm

2) The top-tier firms are very nimble. The are notoriously "immune" to economic cycles. This is because:

  • When the economy does well, MBB are hired to help companies do even better
  • When the economy does poorly, MBB are hired to help companies survive (cost costs, adapt, plan for the new world)

I can tell you that MBB are hustling hard and that when companies are in trouble, they look to MBB first for guidance. Strategy consultants help firms navigate uncharted territory...these times are when they're most needed

3) All this being said, plan for the worst. It doesn't hurt to hunt a second offer, find side income, apply for a secondary degree, etc.

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Hello,

If you have signed a full time offer for a major consulting company (e.g. MBB) you don't have to worry so much. Summer associates is a completely different situation from full time offers. Once that they send you the job offer, they are formally committed to the offer. In the worst case, they will stop recruiting and they will postpone the start of the offers already sent. They will have an high turnover, as always, and if they dont wat to decrease the total number of consultants it's enough to wait for some months before getting new hires.

Best,
Luca

Hello,

If you have signed a full time offer for a major consulting company (e.g. MBB) you don't have to worry so much. Summer associates is a completely different situation from full time offers. Once that they send you the job offer, they are formally committed to the offer. In the worst case, they will stop recruiting and they will postpone the start of the offers already sent. They will have an high turnover, as always, and if they dont wat to decrease the total number of consultants it's enough to wait for some months before getting new hires.

Best,
Luca

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Hi there,

Consulting in the Middle-East has been booming in the past 5 years (most companies growing at double digits annually) mainly due to large governemntal projects (e.g., Vision 2030 in Saudi) - This makes the Middle-East consulting business more resilient than europe or other regions because those governmental projects simply cannot stop (and consulting fees are minimal vs. the overall governments investments value).

I can tell based on my current situation that RfP are still floating (at a reduced rate, but they are still comin), public sector is still working (more hectic than before because the deadlines to meet 2020 targets are getting closer) and life is as hectic as the usual (only difference is that you are enjoying the busy life from the comfort of your own home office)

Simply said, consulting companies are cautious in terms of recruitment because now thay can't keep bringing in tens of new consultants every months due to the uncertainty of the market, however business is still plenty. No need to worry.

If you have more questions regarding consulting in the Middle-East, or regarding a specific company's office in Dubai feel free to reach out.

Best regards,

Khaled

Hi there,

Consulting in the Middle-East has been booming in the past 5 years (most companies growing at double digits annually) mainly due to large governemntal projects (e.g., Vision 2030 in Saudi) - This makes the Middle-East consulting business more resilient than europe or other regions because those governmental projects simply cannot stop (and consulting fees are minimal vs. the overall governments investments value).

I can tell based on my current situation that RfP are still floating (at a reduced rate, but they are still comin), public sector is still working (more hectic than before because the deadlines to meet 2020 targets are getting closer) and life is as hectic as the usual (only difference is that you are enjoying the busy life from the comfort of your own home office)

Simply said, consulting companies are cautious in terms of recruitment because now thay can't keep bringing in tens of new consultants every months due to the uncertainty of the market, however business is still plenty. No need to worry.

If you have more questions regarding consulting in the Middle-East, or regarding a specific company's office in Dubai feel free to reach out.

Best regards,

Khaled

Hi-Thank you for the insights. I am a 1st year MBA at a T20 US Business School looking to recruit for the ME offices. Can you please share your thoughts on whether the firms will hire for Full time positions in the fall i.e Oct/Nov 2020 for Associates starting in 2021? I am more interested in Financial Services and PE consulting. — Karthik on May 27, 2020

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Hey,

As the others mentioned I do not believe you have to be concerned about the offer being rescinded. This would be a bad practice and hurt the reputation of the firm. Postponing the start date is the worst that can happen. Whether FIFO or up or out will be applied is a question, but I would hypothesize that it is a mix. That is assuming corrections need to be made.

Hey,

As the others mentioned I do not believe you have to be concerned about the offer being rescinded. This would be a bad practice and hurt the reputation of the firm. Postponing the start date is the worst that can happen. Whether FIFO or up or out will be applied is a question, but I would hypothesize that it is a mix. That is assuming corrections need to be made.

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Hi there,

it is quite unlikely any major firm will rescind a signed offer for the following reasons:

  1. Legal aspects. Unless there is a clause the company can cancel the offer, doing so creates a breach of contract
  2. Reputation. Rescinding offers will affect the general reputation of the company
  3. Alternatives. It is just easier for the company to suggest a later starting date rather than canceling the offer and lose suitable candidates, which are very expensive in terms of recruiting for any major firm.

Your starting date may be postponed though; also, the conversion rate for summer associates to full time may be lower.

Best,
Francesco

Hi there,

it is quite unlikely any major firm will rescind a signed offer for the following reasons:

  1. Legal aspects. Unless there is a clause the company can cancel the offer, doing so creates a breach of contract
  2. Reputation. Rescinding offers will affect the general reputation of the company
  3. Alternatives. It is just easier for the company to suggest a later starting date rather than canceling the offer and lose suitable candidates, which are very expensive in terms of recruiting for any major firm.

Your starting date may be postponed though; also, the conversion rate for summer associates to full time may be lower.

Best,
Francesco

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Hello, could you specify in which firms are you mostly interested so we can guide you better?

Hello, could you specify in which firms are you mostly interested so we can guide you better?

Strategy&, BCG, Oliver Wyman — Anonymous A on May 01, 2020

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