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Emily

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9

Will MBB cancel internships and give interns full-time offers like Strategy& and LEK?

At least in the US, LEK and PwC (including Strategy&) have cancelled internships and given all interns full-time offers. I think this approach makes sense for MBB too, since interns tend to be of top quality compared to the general hiring pool and they don't want to lose that talent pool by giving them a poor summer experience (as virtual would surely be). Is it likely MBB does this?

At least in the US, LEK and PwC (including Strategy&) have cancelled internships and given all interns full-time offers. I think this approach makes sense for MBB too, since interns tend to be of top quality compared to the general hiring pool and they don't want to lose that talent pool by giving them a poor summer experience (as virtual would surely be). Is it likely MBB does this?

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Book a coaching with Emily

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Hi there,

It is possible. But yet at the same time it depends a lot on each firm's recruiting pipeline, whether they already have a decent amount of full-time hires lined up or not. When they do offer interns full time jobs instead, likely they would also be very prudent and selective as well.

Regards,

Emily

Hi there,

It is possible. But yet at the same time it depends a lot on each firm's recruiting pipeline, whether they already have a decent amount of full-time hires lined up or not. When they do offer interns full time jobs instead, likely they would also be very prudent and selective as well.

Regards,

Emily

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Hi Anonymous,

First of all it's important to understand that consulting firms act more rationally than most other firms (should not be that surprising, but worth mentioning anyway), so if it makes sense business-wise, they will probably do that.

So let's look at your question now. Yes, indeed that is a possibility that well-performing interns might receive full-time offers - maybe not automatically straight away, but potentially with a fast-track recruiting process.

That being said - consulting firms are also profit-oriented companies and partners want to take home a reasonable amount of money (yes, ethics exist too.. but let's keep it simple for now). If demand on HR market (depending on consulting projects and required skills) is exceeding current staff - drop-outs + well-performing interns, then additional recruiting will take place.

Side-note: For now it's difficult to imagine that MBB will completely stop recruiting activities since many bright young candidates are somewhere out on the HR market. However, the bar for getting interview invitations as well as for receiving offers will be rising.

Hope that helps - if so, please be so kind and give me a thumbs-up with the green upvote button below!

Robert

Hi Anonymous,

First of all it's important to understand that consulting firms act more rationally than most other firms (should not be that surprising, but worth mentioning anyway), so if it makes sense business-wise, they will probably do that.

So let's look at your question now. Yes, indeed that is a possibility that well-performing interns might receive full-time offers - maybe not automatically straight away, but potentially with a fast-track recruiting process.

That being said - consulting firms are also profit-oriented companies and partners want to take home a reasonable amount of money (yes, ethics exist too.. but let's keep it simple for now). If demand on HR market (depending on consulting projects and required skills) is exceeding current staff - drop-outs + well-performing interns, then additional recruiting will take place.

Side-note: For now it's difficult to imagine that MBB will completely stop recruiting activities since many bright young candidates are somewhere out on the HR market. However, the bar for getting interview invitations as well as for receiving offers will be rising.

Hope that helps - if so, please be so kind and give me a thumbs-up with the green upvote button below!

Robert

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Hi there,

I guess you mean canceled new internships and provided to all former interns full time offers? Of course you would still need to perform well in the internship, otherwise there would be no reason to extend a full-time offer independently by the market conditions.

Also, as mentioned by Emily this would depend on the current pipeline of projects and consulting hires in the firms. I know for example in some geographies BCG is hiring while McK is not for the same position level, due probably to the backlog of previous projects and specific recruiting needs.

Best,

Francesco

Hi there,

I guess you mean canceled new internships and provided to all former interns full time offers? Of course you would still need to perform well in the internship, otherwise there would be no reason to extend a full-time offer independently by the market conditions.

Also, as mentioned by Emily this would depend on the current pipeline of projects and consulting hires in the firms. I know for example in some geographies BCG is hiring while McK is not for the same position level, due probably to the backlog of previous projects and specific recruiting needs.

Best,

Francesco

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Hello,

It will depend on the COVID effects on the economy and on the subsequent hiring target. It's a real possibility that they will give priority to their interns that performed well, since they have already selected those people and they would be more ready to start giving a contribute in a team.
Yet if the hiring target will be larger than interns that performed in the right way (as usual), they will also hire new people. So far MBB are trying to move forward with the hiring process using the videocalls, slowing down (but not freezing) the recruitments.

Hope it helps,
Luca

Hello,

It will depend on the COVID effects on the economy and on the subsequent hiring target. It's a real possibility that they will give priority to their interns that performed well, since they have already selected those people and they would be more ready to start giving a contribute in a team.
Yet if the hiring target will be larger than interns that performed in the right way (as usual), they will also hire new people. So far MBB are trying to move forward with the hiring process using the videocalls, slowing down (but not freezing) the recruitments.

Hope it helps,
Luca

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Hello!

I see this EXTREMELY UNLIKELY to happen, particularly the scenario in which they hire by default all interns without looking at their performance. Hence:

  • If the interns have indeed worked, they will for sure be "judged". If they meet the bar they will be offered a full-time offer, if not, no. Regardless of COVID
  • If the interns where supposed to start this summer and the office does not have enaugh work load, could be that their entry date gets pushed back.

Hope it helps!

Cheers,

Clara

Hello!

I see this EXTREMELY UNLIKELY to happen, particularly the scenario in which they hire by default all interns without looking at their performance. Hence:

  • If the interns have indeed worked, they will for sure be "judged". If they meet the bar they will be offered a full-time offer, if not, no. Regardless of COVID
  • If the interns where supposed to start this summer and the office does not have enaugh work load, could be that their entry date gets pushed back.

Hope it helps!

Cheers,

Clara

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In my experience working in BCG, I never saw this happen. However, in current unprecedented Covid-19 situation, this could happen as a way for the firm to reduce risk by hiring the proven interns.

In my experience working in BCG, I never saw this happen. However, in current unprecedented Covid-19 situation, this could happen as a way for the firm to reduce risk by hiring the proven interns.

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Hi,

That is possible. And even if they have internships - the % of post internships offers will be likely lower as it is always in a bad economy

Best

Hi,

That is possible. And even if they have internships - the % of post internships offers will be likely lower as it is always in a bad economy

Best

A friend of mine has a summer associate internship with McKinsey, and they gave him the option to not do the internship, still get paid, and get a Full Time offer at the end of the summer. He decided to still do the internship virtually (with a Full Time offer being given no matter what).

A friend of mine has a summer associate internship with McKinsey, and they gave him the option to not do the internship, still get paid, and get a Full Time offer at the end of the summer. He decided to still do the internship virtually (with a Full Time offer being given no matter what).

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Hi,
unfortunately, nobody now is able to predict the precise effects on each business. The 2 true facts today are that interviews are taking place regularly but online instead than face to face, and that many new consulting projects are being paused. Therefore if this lockdown continues for long it can cause a shrinking in new hires.

Best,
‚ÄčAntonello

Hi,
unfortunately, nobody now is able to predict the precise effects on each business. The 2 true facts today are that interviews are taking place regularly but online instead than face to face, and that many new consulting projects are being paused. Therefore if this lockdown continues for long it can cause a shrinking in new hires.

Best,
‚ÄčAntonello

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