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recruiting
New answer on Feb 29, 2024
6 Answers
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Anonymous A asked on Feb 13, 2024

It is no secret the job market for strategy consulting is in a bad place. Additionally, a lot of peers and people on social media make it seems like there is a 0% chance any firms will hire. Coaches and current strategy consultants - can you please give an honest outlook on this? Be honest - I think the knowledge you guys have can either change or confirm what people are thinking.

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Ian
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Content Creator
updated an answer on Feb 13, 2024
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi there,

Love the question.

And, I really understand the discouragement - it's hard.

I completely agree with Florian here - the market is looking better.

All you have to do is look at online forums like this one, Fishbowl, etc. To see multiple posts of people getting offers. I have candidates routinely getting offers and interviews.

Firms ARE still hiring.

Remember, Deloitte is HALF A MILLION EMPLOYEES! That's wild. Its not possible for a city to have 0 immigration (even if shrinking). It's not possible for these firms to, world-wide, have 0 hiring.

So, hiring is still happening. Things are also looking a bit up this year.

You just have to separate yourself from the pack…it's not 2021 / 2022 anymore. The gold rush is over (when, frankly, far too many unqualified candidates were getting in).

Network better. Have a better resume. Select more optimal offices. Apply to more firms. Be better at casing/interviewing.

You CAN do this!

Edit: Evidence

McK offer | PrepLounge.com (1)

Mck Signing bonuses | PrepLounge.com (1)

Bain Round 1 interview | PrepLounge.com (1)

https://joinfishbowl.com/post_yege577awy

https://joinfishbowl.com/post_qvwgudf1dc

(edited)

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Anonymous A on Feb 13, 2024

Following up on this - a lot of the commentary on fishbowl is negative on all hiring except the Middle East. It has been super discouraging, but it seems like you are seeing different. I am in the US.

Ian on Feb 13, 2024

So, look, there's definitely firing happening. There are definitely fewer roles than in 2021/2022. But, I promise you, hiring (and interviewing) is still happening. In the US. I truly understand the sentiment and feeling of hopelessness (hard not to), but I am 100% seeing hiring still happening.

Anonymous A on Feb 13, 2024

Got it. Good to know - can be hard to find encouragement in this market! Thanks Ian.

Sascha
Expert
replied on Feb 14, 2024
Accenture | Digital Strategist | Empathic Case & Career Coach | Personalized sessions & training

Hey there 👋

I can only agree to what has already been said. The market is not in the best condition, and some firing is happening, but keep in mind that consulting oftentimes thrives in bad times (aka. restructuring, cost-cutting-program, strategic repositioning, etc.). And at least from what I am experiencing the conditions for hiring are getting better (at least in ASG).

Specifically in the entry and mid-level roles there is still need for talent. We are for example currently actively looking for young strategists, especially in ASG. Of course the demand depends on the region you are applying, but if you have the right qualification and offer a distinctive personality (your USP so to say) you should be able to land a job in any market condition and start your dream consulting career.

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Florian
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replied on Feb 13, 2024
Highest-rated McKinsey coach (ratings, offers, sessions) | 500+ offers | Author of The 1% & Consulting Career Secrets

Hey there,

I think the hiring market is actually in a better place compared to last year, however,

  • there are regional differences. Last year, the Middle East was hiring in full swing whereas other areas were frozen or significantly slowed down. This has shifted a bit yet on an aggregate level I see more demand and offers overall.
  • given all the job cuts across the board in different industries I would not be surprised to see it going down again in consulting as well.
  • at the moment it is more difficult to progress through the ranks and up-or-out is more enforced than over the last couple of years.

In short, depending on the region you are in, you should go for it, considering all the other factors of having a strong application (resume, referral, test prep, case prep, etc.).

All the best,

Florian

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Cristian
Expert
Content Creator
replied on Feb 14, 2024
#1 rated MBB & McKinsey Coach

My candidates got 4 offers in the last two weeks for:

McK Dubai

Kearney Riyadh

Bain Milan 

Media Consultancy in Hamburg

I have candidates now in the final rounds with MBB for London, Zurich, Milan, Sydney, etc. 

In conclusion, yes, these firms are still hiring. 

And yes, they are doing it at a much slower pace than 2 years ago. 

The thing is that the extent to which they're hiring is beyond your control. The only thing you can control is how you approach the recruitment process and how good you become. 

Sharing here an article on how to develop an application strategy:

Don't be discouraged by hearsay.

Good luck!
Cristian

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Nikita
Expert
replied on Feb 27, 2024
MBB & Tier2 preparation | 85+ offers | 7 years coaching | 2000+ sessions | PDF reviews attached

Hey,

I'd still prepare, but consider other roles that may require case interview skills, such as in-house consulting or e-commerce / fintech startups which employ many ex-consultants and use case interviews as part of their recruiting process.

Good luck!
Nick

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Pedro
Expert
replied on Feb 29, 2024
Bain | Roland Berger | EY-Parthenon | Mentoring Approach | 30% off first 10 sessions in May| Market Sizing | DARDEN MBA

Consulting firms are still hiring. And in some cases even expanding teams. 

I even have friends who were recently contacted to check if they wanted to return to consulting…

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Ian gave the best answer

Ian

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