State of hiring for MBB/T2 in Europe

Question

Hello! I have recently noticed quite negative state of hiring/utilisation of consultants but I am not sure whether this is global or more local (US) thing. From my experience, some firms (T2) still hire aggresivelly in my (European) location.

Do you have any idea about state of consulting in Europe, regarding hiring? Especialy MBB/T2. If outlook isnt good, when do you expect things to improve?
Thanks

Answer 1

Hi there,

This is indeed global. That said, hiring is still happening.

For example, I have a close contact at a specific Bain office in the US that is hiring like mad. (Can't disclose which one here).

That's all while multiple other people are reporting that Bain US is saying it's not hiring.

Lesson? Keep pushing/hustling. Even if there is a down period, hiring still happens. Networking is key not just for improving your chances of an invite but also seeing which offices have openings for your role and which might be interested in you.

Here's some reading to help (internships tips are same as full time tips): https://www.preplounge.com/en/articles/how-to-get-a-consulting-internship-tips-and-tricks

https://www.preplounge.com/en/articles/application-tracker

Answer 2

Hi there,

it varies quite a bit by specific market. Overall, most firms are still (or again) hiring, while not as much as the during the previous peak period. Some systems, e.g. Germany (largest consulting market in Europe) are doing just fine.

Feel free to reach out via DM, if you'd like to discuss about a specific firm / geography.

Regards, Andi

Answer 3

Hi there,

It's global.

Of course, some markets are more affected than others.

From my contacts, I know offices that are now fully staffed in MBB and offices where a third of the consultants are on the beach.

There's not much that you as a consultant can do about that, but typically it helps to:

Keep in close contact with staffing on new opportunities
Make sure that you are subscribed to all the staffing newsletters from different practices and industries
Widen your range of industries and topics that you're interested in (basically be willing to do any project)
Widen your range of geographical focus (basically be willing to do a project anywhere) - I went from Germany to Papua New Guinea for 4 months after being stuck on the beach for 5 weeks
Reach to Partners that do projects in the areas / topics that you're interested in
Reach out to former contacts from previous projects that maybe need consultants to be staffed on their team.

And if none of this works, then take the time to work on your skills. Here are two guides that work through what it takes to be a distinctive and happy consultant:

Best,
Cristian

Answer 4

Hi There, Interesting question indeed, I will try to answer it from my perspective as a junior in the industry, In my... (read entire answer)

Hi There, Interesting question indeed, I will try to answer it from my perspective as a junior in the industry, In my opinion, there are 2 main issues impacting the consulting i... (read entire answer)