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
Ironic that consultants aren’t able to manage their hiring demand better 🤔
We first gotta create the problem and then get paid to solve it 🫡
Someone is in a mood to drop truth bombs 💣
It was only a matter of time. When the client have lesser money - and old projects get finished - consulting firms will feel the pressure on new projects as there aren’t many
We're doing some free cases at this point, hoping the client will like us and pay us eventually 😂
😂
Def. happening at EY, and Accenture Consulting rn.
Didn’t know they are affected by this too. It hadn’t come to business roles so far, but looks like it is
MBA grads too from India?
I heard Bain India is onboarding, people are supposed to join in July.
Nah not that I know of, they're gonna delay it to Jan. HR hasn't announced it yet officially because they don't want to do it before Mck and BCG announces it 😂
😂 why be the bad cop. Follow suit - sheep factor
My brother got a campus placement at McK this year from IITD. He is worried because his joining hasn’t been announced. This affects him as well?
Unlikely that they will rescind any offers, MBB has historically never done this (not even 2008)
Not completely sure But what I’d heard was this is across firms with both UG and PG hiring
Not sure if it applies to all though
Organic attrition is very high in consulting. MBB is overstaffed for now, but if they continue lean recruitment things will get much better in 6-12 months.
Consulting staff here has almost never been fired due to a macro factor - it's mostly local office related issues.
CY Q4 is when some folks were saying they'll onboard the new batch. But I've heard this being Q3 now
In a slow growth environment their attrition rate will also go down
My company just laid off the whole batch of interns which were promised Full time during placements. (Around 90-100 laid)
Are these onboarding delay happening for MBA grads too or just for B.Tech grads
Current recession giving ‘08 vibes to consulting companies in India:
So, I’ve been hearing a lot about how consulting firms are struggling lately. Layoffs, hiring freezes, you name it. A lot of boutique firms seem to be doing better than the big players like MBB and Big 4. Has anyone else noticed this tre...
Heard rumors that McKinsey and BCG have hiring freezes for 2025. Anyone have insider info? How's Bain doing? Bad time to target 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...
When I think I should leave my job and start searching, Grapevine pops one of these scary items 😭
That's why the government is giving free ration for the next five years also. No need to worry. Also there is an opti...
~200 log (20-25%) are affected. Work ex 2-3 years majorly.
