For those who aren't receiving FT MBB interviews...
We have a ton of threads circulating about 2024 FT interviews - with the BB decisions released the past week or so, hiring looks to be severely cut back.
In the same boat as a lot of people here - interning at a T2, target school for office recruiting, 3.9 GPA, president of business orgs, etc. Was told last year that if I kept up casing and networking, I'd have a better chance than not of converting an MBB offer... that was when the economy looked to be strong. Bain pushed interviews back until mid-Fall, cut from BCG no interview, waiting on McK.
Like all things, the pendulum will eventually swing the other way. Hiring such a small amount of FT converts will not be sustainable when the economy picks back up. Wondering if we'll see off-cycle hiring open up at some point next year. I've heard of a lot of people transferring in laterally midway through their first year or two, is this going to be a more common pathway? Interested to hear everyone's thoughts
Lateralling to MBB shortly after starting a FT role is something that I saw happen a couple of times around 2021/early 2022 when the post-Covid boom was happening. However, all 3 MBB were bursting at the seams; deal flow was unprecedented, and firms were aggressively hiring to keep up with demand. As things stand right now, we are either entering a recession (https://www.nytimes.com/2023/07/24/opinion/recession-economy-yield-curv…) or the FED is going to pull off a soft landing. I have a feeling it'll be the latter. In either case, this downturn (or lack thereof) won't be anything like what Covid-19 caused. It just seems unfathomable that there will be a period of near-complete economic dormancy followed by a sudden explosion of growth, which is really the only time it makes sense for MBBs to hire laterals at such an early stage. You're right to say that the pendulum will swing the other way. However, it probably won't swing fast or far enough to warrant the hiring pipeline you're referring to.