With the news about McK also offering severance based voluntary attrition, wanted to get a sense of how are things across MBB in India?  The hiring has been over optimised, the batch of 2024 and th...

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With the news about McK also offering severance based voluntary attrition, wanted to get a sense of how are things across MBB in India?

The hiring has been over optimised, the batch of 2024 and the summer intern batch, count of new hires should go back to 2019 levels

How is the promotion scene looking like? Are you hearing of headcount rationalization in the India offices? 

Folks were expecting natural attrition will help with HC nos, I don't think it has really played out that way

How is your MBB/ mgmt consulting looking right now

How is your MBB/ mgmt consulting looking right now- Grapevine

It seems like the bear market effects are down upon consulting firms now too

Got to know from multiple people that were joining top consulting firms that their onboarding is deferred by 6 months (across places like Bain, McK etc)

Already enough existing employees aren’t on active cases, and so it seems like they’ve hired more than there is demand for cases, people who have actually been sitting on the bench for months 

If demand does not return, this could really stack up and lead to a problematic situation

Delayed onboarding across consulting firms (MBB too)

Ironic that consultants aren’t able to manage their hiring demand better 🤔

Corporate Strategist

Analyst

The batch of 2022 was one of the largest, and it's unlikely the system will be able to absorb so many associates/ consultants. How is the morale at your MBB, what is the gossip/ rumours

Folks 1.5yrs into MBB, how is the promotion to Associate/ Consultant looking like?

How is the bench scene like? Are promotions likely to be delayed? What are some rumours

How is the staffing scene at your MBB/ other management consulting firm

How’s the hiring scenario at MBB for front end consulting role? Are they accepting referral based interviews?

Hiring scenario at MBB

Software Engineer

Welcome to News Discussion's Private Community

What future does consulting holds, especially MBBs and alikes. Will they continue to squeeze or sort of reverse their recent downfall.

Current recession giving ‘08 vibes to consulting companies in India:

- Accenture Strategy considering layoffs
- Deloitte (Consulting) considering layoffs 
- Mckinsey - already have done non-consulting layoffs
- MBB - expected to push out joining dates for new hires by at least ~6 months (most likely new joiners who were expecting to join in July-Aug 23’ to join only starting Jan 24’)

Slow pace of new projects, ramp down of existing big clients, massively over hiring in 2022 (key reason) has led to most people being on the bench.

Wouldn’t be surprised if the ‘Up or Out’ model comes into action more aggressively for the upcoming appraisal review cycle(s).

Brace for impact!

(all unconfirmed, heard through ‘grapevine’)

Consulting layoffs

Founder

How many percent of MBB consultants leave consulting within 3 to 4 of joining the firm , as I heard that good Consulting firms offer great exit opportunities , so how many of them get exit keeping in mind the compensation package , work life balance and other things , are they earn good enough within initial years so they can buy a good house in posh locality ???

MBB: management consulting

Heard from people I know at Bain that they are laying off.
This is mostly the first time an MBB is doing layoffs (earlier they would silently fire, or delay onboarding) 

A friend got impacted. Seems like this could be 10-15% of their consultants. Unprecedented.

Layoffs at Bain India. At least 100+ people will be affected

When I think I should leave my job and start searching, Grapevine pops one of these scary items 😭

Consultant

First MBB reduced bonus. Now EY is laying off US partners. Is something up with consulting in general?

Deals are not happening as it used to. Macros uncertainty is keeping clients on budget tightening. The pre-sales consultants are having hard time to convince the clients

Software Developer

While actual bonus amount hasn't changed, they've adjusted the % for high performers. 4 raters were previously paid 150% and 5 raters were paid 200%

Not like I had motivation to work hard enough for a 4 anyway but now it's not even worth much lol

Bain adjusts its bonus compensation payout

Growth And Strategy

Internals, is this true?
The market seems pretty unstable in the service sector, the hiring freezes for freshers, and such a bad situation internally!
What's the positive you see in this situation?

Accenture: No hike, promotion till June 2024

Q for the fresh consult joinees, ideally Co22 or 23  about what inside the firms looks like right now. Are you working, how are the projects, toxicity/anxiety?

Fresh MBA grads in Consulting. Hows it looking?

I am very fascinated by Management Consulting and been speaking with ex consultants. All of them are critical of it, but agree the money is good 🤤

Need advice 

- Do these companies take lateral hires? I have seen only IIM candidates freshly graduated being taken in
I'm not IIM, but MBA with 6 years of work ex

- MBB have shittiest WLB and highest money. Which comes down as per tier. Which is the best tier to get into, so I have best of both worlds (less shitty WLB with lesser money)

Getting into Management Consulting

The work hours are catching on, don't want to do 70hrs+ weeks. The promotion at 2 yr mark is also difficult (over hiring in our batch, not enough demand + not exceptional performance at my end). Doesn't make sense to stick around for another year at current comp and workload

What are some exit options in the current market? How should I think about evaluating the career move

1.5yr in MBB post MBA, possible exits in current market?

Hi,
I am working in an mnc as a software developer since 2 years after graduating from a top tier IIT. But I don’t see myself doing this in the next 5 years.
Should I do an MBA from top tier IIM college? I know it will not be beneficial in short term but in long term is it a good idea? 
Anyone from similar backgrounds do share your experience.

How is your MBB/ mgmt consulting looking right now

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