Does MBB ever poach sponsored consultants by paying out MBA tuition costs?
Let's say you're attending an elite MBA program, with around $150k of tuition costs sponsored by a tier 2 consulting firm (think Deloitte, OY, S&, ATK). Would MBB consider offering a loaded sign-on bonus (covering 50%+ of tuition) to entice such a candidate? Curious to hear if this is a regular occurrence.
No, MBB wouldn't ever do this. And why should they when they believe that they can get the same talent on campus without paying more than normal post MBA comp? Finally, MBB wouldn't even "poach" you - the best that I've heard is someone getting fast tracked to final rounds but you still have to put in some work.
In fact, McK does that for their Dubai office
Heard the same, are you sure they still do?
No, you have no client list, why would they pay more than the market rate?
They can literally find hundreds of comparable and equally qualified candidates across the Top 15 or 20 MBA programs in the country without having to pay extra, so why would they?
Same rationale for why they would extend sponsorships in the first place. A seasoned consultant who performed well enough to earn a sponsorship with their previous firm is a less risky hire than an MBA who hasn't ever worked in consulting.
We extend sponsorships because our rockstars are a known quantity within our firm. Just because Deloitte sponsors someone doesn't mean that they will succeed at MBB. That is an apples to oranges comparison. As a caveat, I am speaking from experience in US so not sure about elsewhere but as a campus lead for the past few years, I've never this happen before.
Fair enough, I guess it's not the case in the US. I know for certain that it was standard in some international offices in the past, but trying to re-confirm. But to your argument, it's more like comparing grade AA oranges to grade A oranges to unknown oranges. Yes, rockstars within the firm command an even higher price (full sponsorship). I'm not talking about full sponsorship, but a partial one. Controlling for other factors, a superstar for another consulting firm who passes the MBB interview process is a more known entity than a non-consultant MBA who also passes the interview process. They are not equal. And if you want to hire the more known entity, alleviating some of their opportunity cost (150k in sponsorship) can go a long way.
P.S. By "poaching" I didn't mean skipping interviews or fast-tracking. Modified title to avoid misunderstanding.
Tenetur omnis qui nihil nobis eum dolores. Neque dolores eos voluptatem quia. Et totam omnis dolorum tenetur fugit at.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...