MBB start date delayed in 2023 for experienced hire

Hi there,

1) Would you recommend finding a full-time position or looking for a part-time job under this situation? 

Given it’s 6 months (hopefully they won’t delay more), in case you are looking for a side income I would look for a temporary/freelancer job (maybe even with your previous firm if you left in good terms), if applicable to your case. 

2) The firm said they would provide interest-free loan for those people who need financial support due to the delay. Would you recommend to ask for other compensation to mitigate the loss? (for example, if I have worked longer in the last company, I should have received a bonus)

I would not ask directly for compensation but you can inform HR about the fact that you have lost the bonus due to their initial deadline and ask if there is any support they can offer for that. I agree with Ian that it is important to communicate this properly.

3) Any suggestions on how to effectively utilize the time before on-boarding? (I'm thinking of taking GMAT and learning a new language)

GMAT prep could be fine if useful for your next steps in your career (eg, an MBA). Depending on the language, it might be tough to learn it properly in 6 months unless you can dedicate a lot of time to it. But if you are committed to it and the language is not too difficult, it could work.

Other alternatives include:

1. Improve your skills with Excel and PowerPoint
2. Freelance based on a skill you know/want to learn (same as mentioned in #1)
3. Do an internship in a position that can help you long-term (eg sales)
4. Launch a website you can easily automate
5. Start a blog on a topic you know well
6. Support a local non-profit
7. Travel to a top destination you want to visit

Best,

Francesco

Hi there,

I'm sorry to hear that your start date has been delayed but you can rest assured that they are unlikely to rescind the offer altogether (unlikely - it has never happened, and would require extreme circumstances to happen).

1) Would you recommend finding a full-time position or looking for a part-time job under this situation? 

You can if you want to. Personally, I would. Mostly because 6 months feels like a long time to do nothing. And, I'm risk averse and would want to be in a good position in case they delay again. But, you don't have to.

2) The firm said they would provide interest-free loan for those people who need financial support due to the delay. Would you recommend to ask for other compensation to mitigate the loss? (for example, if I have worked longer in the last company, I should have received a bonus)

I think you can try, especially since you can flag that you already left your other firm because of the start date and should have gotten a bonus. Please be very careful with the wording.

3) Any suggestions on how to effectively utilize the time before on-boarding? (I'm thinking of taking GMAT and learning a new language)

It depends on you! Here are some options:

1. Join a firm full-time or part-time
2. Return to the previous firm for a bit
3. Do contracting work
4. Learn a new skill unrelated to consulting
5. Learn a new skill related to consulting
6. Relax and do nothing
7. Travel

Hi there,

First of all, congratulations on the offer!

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, without knowing more about your professional and financial situation, it is hard to provide a meaningful and nuanced answer. It could be that this might be the perfect time for you to work and travel, especially given that you are an experienced hire. But perhaps you also cannot or do not want to be out of work for half a year.
• As such, I would highly advise you to assess your financial situation over the next six months and do some soul-searching about how you would like to spend your time. However, in case you are mostly worried about the gap in your resume, you have a very compelling and provable reason for it.
• Lastly, while I would not assume that the company would revoke your contract in the future, I would advise you to consider finding a backup employment option in case there are further delays.

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,

first of all sorry to hear this. 

I do not have full visibility below the South EU offices of MBBs, but I would venture to say they are trying to control intakes vs. project pipeline situation (NA had a strong slow-down - Europe differs by Geos).

1) I would not be worried of your firm rescinding offer - this would be a precedent that they would avoid at all costs. They can use stricter CDC meetings to increase the attrition at higher levels. If possible for you to have an interim stream of income in the meantime, it would be great

2) I would not ask for additional compensation for the delay - it is correct from your point of view - but could reflect poorly on you from the consulting firm POV. 

- I would reason on overall cash flow over tenure vs. cash @time zero

Hope this help,

Feel free to reach out for more details, if needed

Hi, 

Fully in line with Paul and first of all congrats !

If you have 6 months to kill, why don't you travel a bit (Asia or South America), and finance that with small jobs during your travel ? it could be a unique opportunity to meet new cultures, countries before working hard for a many years.

Honestly this would be the advice I would give to myself !

Cheers,

Hi there,

this is of course an unplanned situation. However, since you are not in dire financial straits, you can make the best of it.

• Take the interest-free loan if you need to
• See if you can do a little side hustle to make some extra money in the interim
• Pursue your interest and hobbies that you haven't had enough time for because of your previous job
• Travel and make up for lost time during Covid

Free time will be a scarce resource once you start in consulting. Leverage it now would be my piece of advice.

Best of luck

Hi there, 

Sorry to hear about the postponed start date. Seems to be happening more and more often these days. 

Basically, in terms of what you should do, I would take the decision based on whether you need money or not in this period. 

If you don't, then just try to enjoy life or develop some skills that you've postponed working on. 

If you do, then either take a loan from them (and still enjoy life and develop other skills :) ) or find a part-time job for the time in between. 

The reality is that once you start in MBB you will have good job security and compensation. What you won't have much of is personal time. So it makes sense to relax and connect with friends and family until you start the job. 

And of course, you can do Excel or Powerpoint courses so you have a smoother start when you begin, but only if this is your idea of fun. 

Also, let me also share with you here two articles that would be super relevant for you in terms of understanding how the industry works:

• What being an entry-level consultant is like
• How is lifestyle in consulting

Best,
Cristian