MBB - Delayed Start or No Offer?

Hi,

In my experience, you would still get the offer if you really performed exceptionally. 

Typically the interviews are scheduled after budgeting and headcount planning which is finalized early in the year.=

If for some reason significantly more candidates ‘perform exceptionally’ and/or macro environment changes, then the candidates will be asked for a delayed start.

Talent is really hard to come by, so firms really don't want to let good talent go, and especially not to competitors :)

Hi there,

This depends on the office and firm.

A recent client told me that one of the MBBs has more than 1000 juniors sitting on the beach at the moment in Europe. 

Generally, firms stop recruiting altogether or invite fewer people to interviews rather than going through a lengthy process that also takes a lot of resources from the interviewers in the firm, just to reject people afterward.

I had several cases now where people had an interview scheduled and had it canceled.

So, if you get to the interviews and manage to wow your interviewers, chances are you will still get an offer.

Cheers,

Florian

Hi there, 

For MBB's there's no such thing as ‘position being filled’ with the exception of specialist / expert roles. They basically hire as many people make the cut, but in line with their needs in that particular economic cycle. 

And now, indeed, there is more of a slowdown in recruiting because there also happen to be fewer projects (because clients are reluctant to spend on consultants during an economic contraction) and as a consequence there's less need for fresh talent. 

They still hire people, however, just fewer. So if you perform well in your interviews and also have a bit of luck, it will definitely work out. The only thing you can control - aside from having a stellar performance - is to apply to multiple firms to diversify your risk. 

Best,

Cristian

Hi there,

I think this is an interesting question that may be relevant for many people. I would be happy to share my thoughts on it:

• First of all, at least for entry-level positions in strategy consulting, there are no "positions to fill" given that the personnel planning process works differently.
• Moreover, it really depends on the company, region, and office to which you apply. I was able to help several coachees of mine secure offers despite the tight economic situation (very few were being asked to delay the start date) , yet a few also received rejections or were asked to apply again in a few months.
• No matter what your concrete situation is, I would advise you to focus on handing in the strongest application and being well-prepared, since all other aspects are out of your control either way.

If you would like a more detailed discussion on how to address your specific situation, please don't hesitate to contact me directly.

Best,

Hagen

Hi there,

It's really doing to depend. There's a 3rd option which is that they will be asked to re-apply in a reduced timeframe i.e. less than 12 months (say, 6 months).

Please don't worry about things you can't control. What you can control is how well you perform. Do your best - that's all that matters and is worth spending energy on!

Hey there,

Good news - if you've landed an interview, it's a positive sign that the company is still hiring. Even if they've had to put a hiring freeze in place, they wouldn't be scheduling interviews if they weren't still looking to bring on new team members.

I've been hearing from a lot of recent MBA grads that the top consulting firms, including the MBBs, are out in full force recruiting on campuses. They're scheduling interviews and extending offers left and right, but some of those offers come with later start dates. For example, I know people who have received offers in December 2022 for a start date in January 2024.

I know it can be stressful, but it's important to remember that MBB firms take their interviews seriously and want to give every candidate a fair shot. They're not in the business of intentionally failing people or denying offers to exceptional candidates just because they're overstaffed. These firms are all about attracting and retaining the best talent, and that means making fair, informed hiring decisions.

I hope that helps give you a clearer picture of the current hiring landscape in consulting. If you have any questions or concerns, feel free to let me know!

Hello,

If the candidate is well above the bar, then ideally they should be extended an offer :) Consulting firms are always looking for exceptional talent.

Best,

Rushabh