Would MBB consider pulling analyst offers due to recession?
Signed in August, wondering if I should be looking at potential alternatives. Tech and IB have had layoffs and offers rescinded afaik
Extremely unlikely. We tend to over invest in downturns to exit in a good position. At most, your start date would be delayed. At most.
+1. Also worth remembering that there are a few things that make consulting a great industry to be in as a junior analyst in a downturn:
MBB will be fine. The entry analyst hiring stayed strong during the peak of pandemic, this current econ downturn wont bother MBB.
No
Not a chance. they didnt even do this during the last recession. any workforce efficiency adjustments are made in the form of:
1. fewer offers given to begin with (i've heard this was the case for 2nd year MBA recruiting for my firm this past cycle)
2. tighter up or out policy - slightly harder to get promoted, borderline performers are more likely to be counseled out. however, this almost certainly won't apply by the time it matters for you (at least 1 year into the job, so 2 years from now)
Hiring freezes or postponements at most, similar to what happened during the pandemic. Consulting (esp. MBB) is relatively recession-proof, and the situation is nowhere what tech is going through.
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