Hi there
I heard that MBB hired about the same as in pre-COVID times this year. Will this lead to more people/ new joiners having to leave the firm (e.g. in 2021) as they hired too many people? And how many people are really forced to leave the firms involuntarily? :) Thx
Hi,
Best
Dear A,
Actually this year intake wil be reduced, in all the firms.
BTW, I will explain it in more detail on my free webinar https://www.preplounge.com/en/consulting-forum/free-webinar-with-coach-andr-save-yourself-a-spot-7733 on Sept 10.
If you want to participate, hury up to reach me out in PM, since a few spots left.
Best,
André
Hi, in case of necessity new hies will be reduced, while up-or-out policy will maintain the same standards
Best,
Antonello
Hi Anonymous,
Your information about MBB is not accurate for current hiring levels - already during last 6 months intake was significantly reduced - partially also due to more difficult logistics and other priorities internally for a short period, but also due to uncertainty about future.
Always keep in mind that consulting firms are profit-oriented companies and thus need to accurately balance HR supply (from applicants) and HR demand (for projects). Right now it's still high uncertainty about next years consulting budget, so everyone is definitely cautious in recruiting at the moment, and sometimes even artificically prolonging application durations from start to end.
Based on future demand firms will also decide how many consultants need to leave the firm - not yet clear, but rather likely it will be more than in previous years.
Hope that helps - if so, please be so kind to give it a thumbs-up with the green upvote button below!
Robert
Hello!
I honestly thing COVID won´t impact up or out.
Policy will still be in place, and the bar will keep being high.
However, intake numbers will be reduced too.
Hope it helps!
Cheers,
Clara
Hi there,
Honestly, most likely yes.
They are indeed adding some pressure to the up-or-out process. However, they did not hire too many people. They very purposefully paused and reduced hiring over the past half year. However, they are implementing stricter up-or-out in order to keep hiring.
As others have pointed out, hiring is not the same this year.
In terms of up and out, that is largely feedback/performance based. There are clear metrics for performance that you are measured against and I have not heard of up and out simply because of a slow market.
Udayan
Hello,
I don't think that MBB hired as in pre-COVID times, actually. They have frozen the hiring for 2/3 months and they are now slowing restarting. The only exception that I am aware of is for experienced hire and people that had already started the process.
Best,
Luca
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