Was just reading The Ken’s article they posted today around what went behind Bain’s recent layoffs - made me think a lot. More so because I rejected my offer from Bain in college to go join a startup.
Bain is a titan in the consulting world, what made it stumble so hard in India? By now, all of us know Bain let go 15-20% of its workforce, a shocking move that reveals deep problems.
What went wrong? 1/ Putting all eggs in one basket: Bain's excessive dependence on Tiger Global (60-70% of PE consulting revenue) proved catastrophic when Tiger faltered. When Tiger faltered, Bain was left scrambling. 2/ Overconfidence led to overhiring: The 2022 hiring spree, nearly doubling B-school intake, reveals a dangerous disconnect between market realities and internal optimism. Now, with less work, those hires became a burden. 3/ Reputation at Risk: Layoffs may solve immediate financial woes, but the long-term damage to Bain's employer brand could prove costly in an industry that thrives on top talent. 4/ Others learn from Bain's mistakes: While Bain stumbled, rival BCG played it safer and is now in a stronger position. 5/ Growth isn't everything: Bain's fall shows that in consulting, steady relationships and smart hiring matter more than just getting bigger.
So thankful for not joining consulting post college 🙏🏼
I worked with Google, which has nothing of the following traits, but still laid off 11% in one go and indirectly has laid off 25% atleast through forced RTO, and internal pressures/no promotions to deserving candidates.
Why would you rather work at Google and not bain? You have nitpicked your choice of consulting company, and put a spotlight on what it did which others in every industry are doing in a much more toxic way, cherry picked reasons from a Ken article to support your argument.
You did not mention how embarrassing it was for Google employees when they tried to swipe their card and couldn’t enter, the apparently best of corporate land much much better than bain. Bain Atleast did not do that, well yet you would rather work in any company than bain.
Also, if I may say further. Startup’s have conducted lay offs in a much more toxic and disrespecting way on average than bain ever would. I would rather say it is better to get laid off at bain than joining a startup and then getting laid off in a shitty way with no severance.
You are just lucky your startup survived
Wait who Said Google didn't have problems? Extensively overhired for 2 years without any major feature development . Google AI simply sucks (so does other AI as well lmao). Google profit is driven mostly by ads which is not exponential growth for the hires they made.
Never believed consulting created any real business value. The model is itself self defeating. Great decision , joining startup !
Can you DM me this article ?
Just search on Google Bain Ken you will see its from yesterday
But it's not open !! You have to be a paid member to read it
Bain has not immediately laid off and given everyone 6 months to search for a new job. Startups have laid off in a worse manner.
Consulting firms although provider employment are the pests of the world that do way more harm than good
Masterstroke
Are you implying there is better job security with startups....because that is definitely not the case.
@Sadgirlie99 no, actually the flip side - job security is a myth
We need to stop overthinking a safe job - do great work and stay agile, helps you stay ahead of market
Rude consultants will get some humbling
Well done sire
Does anyone have any insights into the type of projects, culture, WLB etc. in the Big 3 Management Consulting firms in India, especially in Bangalore?
Thank you.
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~200 log (20-25%) are affected. Work ex 2-3 years majorly.
Hi Guys, I am working as a software developer in Oracle( btech from old IIT) . Its been 2 years and I now want to switch to management consulting (preferable in MBB) to experience it so want to give MBA.
