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Will US experienced hiring pick up soon?
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Hi there,
The truth is, no one really knows and the situation changes quickly.
Last year, a McKinsey recruiter I talked to told me that 2024 should be a great year for hiring again. Fast forward, here we are and so far it's not been great at all (still better than last year in many regions).
Hiring is still ongoing but at a slower pace. Experienced hires generally have a better chance due to a more specialized profile and less competition.
If you are ready now, there is no point in waiting but get in the ring:
- Reach out to your contacts for referral
- Prep stellar application documents
- Practice for online tests and the interviews
Ideally, get a coach to help you with this process across all steps as it will significantly boost your chances.
All the best,
Florian
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One can hope.
But we can't know.
And it's outside of your or anybody's control.
My recommendation would be to get in the recruitment process this year. Even if it doesn't work out, you'll still have learned much more than not trying in the first place.
Here's a guide that I wrote on this topic that should help:
I also ran a webminar with PrepLounge on this topic that is available on youtube:
>>>https://www.youtube.com/watch?v=8hz5EUHrLuw
Best,
Cristian
(edited)
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Hi there,
No one knows. But, it's not looking great for the time being. It's hard to be able to see more than 3 months ahead.
What we do know though is that firms have already cut their workforces signficantly and that pipelines are starting to recover.
Personally, I would be surprised if the end of 2024 and 2025 are still in the state we were in last year.
That said…..hiring STILL HAPPENS. there is always hiring no matter what you hear. If you check with coaches and our candidates, look at forums, etc. you'll see people still get hired.
Focus on you and being the best possible….there are jobs waiting for you.
How to Get a Consulting Internship - Tips and Tricks
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Hi there,
the FED is keeping fund rates high to fight inflation and they are likely to have it stay that way until they see some weakness in the labor market. Thus far, the labor market has been holding up so that a return to a monetary policy of quantitative easing is unlikely to happen quickly. Therefore, companies are strapped for cash for longer and are likely to scale back investments (including consulting spend). This of course impacts consulting firms and the number of people they could staff on billable projects.
Then again, 2024 is an election year in the US and the incumbent will try to make the economy look favorable going into the election. So there could be some surprises but overall, a mindset of cautious skepticism is probably the more prevalent one in the consulting space.
I would therefore not expect a hiring pickup “soon” - at least not in a sustainable fashion. Just my personal opinion - I certainly don't have a crystal ball.
Hope that helps for perspective
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No, it will not.
There is a lot of uncertainty surrounding the election. That means delaying some projects for 2025 (even I had one of my projects delayed for 1 year because of that).
My expectation is that hiring will accelerate for the January 2025 intake.
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