Is there a hiring freeze at MBB? Germany

Hi there,

Short answer: No hiring freeze. I have coachees who currently are in processes with BCG as well as McKinsey Germany.

Invites were reduced, but not as much as commonly perceived. This analysis could be very interesting to you. See finding #3 on the estimated reduction of 25-30%. https://www.preplounge.com/de/consulting-forum/mbb-consulting-data-analysis-top-schools-average-gmat-current-hirings-17008 

Just a watch-out: There is probably something not 100% right in the data, as I am missing the BCG VA-Ship as internships, they were probably falsely not counted. But that does not make their assessment of a 25-30% decrease invalid.

Best,

Gero

Hi there,

It depends on the location. Which one are you applying for?

Some indications I can provide:

• Some offices have reduced hiring significantly, especially for generalist roles. 
• Some are still hiring at a relatively normal pace. 
• Specialized roles' hiring is still relatively unaffected.
• Some offices (Middle East) have some candidates waiting in the pipeline for weeks/months already.
• From personal experience (site traffic and product sales), January showed a strong uptick for McKinsey-related topics

I'd recommend you network with relevant people in your target office to get better visibility for your personal hiring situation.

All the best!

Cheers,

Florian

To my knowledge, there is no current hiring freeze in Germany. 

What is fair is that hiring is lower now than in 2020-2021 for instance, but it also seems to be gradually recovering. 2023 was particularly bad. 

The easiest way to settle this is to reach out to the recruiters and ask if they are accepting applications for your target position. Recruiting phases change fast, so something that might be true today, might not be true tomorrow. 

Sharing with you also a guide you might find useful to review on how to build your application strategy around these uncertainties:

• Expert Guide: Build A Winning Application Strategy

Good luck!
Cristian

Hi there,

if you are thinking about applying now or waiting for a year, there is really not much downside in applying now. 

Sure, hiring has slowed compared to what it used to be in the past and competition might be higher because of fewer positions, but you are talking MBB where competition is always high. If you apply and get rejected, you can wait out your ban period of 12-18 months and try again. That's not much different to waiting that amount of time to apply anyway with the exception that you might get lucky on your first attempt already.

If you have a BCG interview guarantee, you can assume that once they invite you, that there is actually a position to fill. They wouldn't waste consultant resources on interviewing you if this was just meant as a charade.

If you think you are ready to pass the interviews, you should just apply. Especially in Germany where recruiting typically happens year-round.

Best of luck

From what I'm seeing, hiring has definitely picked up from 2023. It's nothing like the crazy high hiring in 2021 and early 2022 but it's miles better than last year. 

I strongly believe that 2024 may not be a great year in hiring given the huge backlog from the year before but it won't be a washout like last year either. 

Hi there,

Hiring is definitely happening. It's “funny” to see posts of people talking about wide-scale hiring freezes, and then simultaneously see multiple posts (here, on Fishbowl, etc.) and have candidates getting offers.

Remember, your networking will tell you when exactly you should apply for the specific office of interest, but, in general hiring is almost always happening to some degree.

You're in a great spot, check with each of your contacts at BCG and McKinsey!