What proportion of MBB consultants are let go within the first year?
Hi all! I'm (hopefully) going to be starting at an MBB in the fall. I'm aware they have up or out policies, but essentially wanted to clarify the degree to which my job will be stable/unstable, especially in the midst of the current health and economic crisis.
Could someone with relevant experience let me know:
- What proportion of a starting BA class (coming out of undergrad) you would estimate are let go within the first 6 mos, 9 mos, 12 mos, and 18 mos? This is assuming no crazy misconduct. For example, 'they typically cut the bottom 10% of performers at 9 mos.'.
- I'm also specifically wondering what this is likely to look like in bad economic times
- At the two year ish mark, what proportion of the class that remains is offered (1) secondments or externships or (2) grad school funding? Is it more a scheme for the top few performers or something that most (90% of people) are able to get?
You might say 'just don't worry about it' - but this is likely to impact whether I apply for certain fellowships and programs for fall 2021 as a back-up and thus whether I have to prepare those applications now.
It sounds like you're going to McKinsey. I don't work at McKinsey, but I work at one of BCG/Bain. I have never seen or heard of a BA/A/AC getting cut before the 2 year mark without misconduct involved. Some people definitely leave early because consulting isn't the right fit, and it is possible it was performance related because you never can really tell from afar, but in my experience even that is 1-2/100 people.
The actual work itself is not THAT hard. If you show up with a good attitude, are willing to work hard for long hours, and have a commitment to improving you truly will be fine.
Thank you!
Similar experience at an MBB as well - the earliest I've seen somebody junior being pushed out due to performance was after a bit more than a year (two long cases).
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