In response to both BCG and McKinsey guaranteeing FT offers, Bain is moving to guarantee FT offers for all interns due to the virtual environment in which they are conducting their internship. Guess this doesn't bode that well for FT recruiting in the fall...
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Where did you hear this from? Did they send out an email?
This is confirmed. We did not get emails - we all had calls with our respective office heads today and they told us verbally during the call. All Bain US offices AFAIK. Not sure about international offices.
A friend in Canada heard too. Confirmed.
London confirmed too
Not sure if this makes Bain look better or worse at the end of the day
McKinsey vs BCG vs Bain comments in 3...2..
I'm calling it, we're going to compete with each other over perception right into bankrupcty.
"Hey F* you Bain, you doubled salaries to signal confidence in the middle of a massive recession? Well guess what, we're going to triple salaries!"
Maybe that's the whole plan. Play chicken with your competitors till one breaks from overconfidence. Sounds like a very McKinsey thing to do BTW - I'm going to blame them.
how do you think that'll change ft recruiting...
what full time recruiting :/
cancelled??? even for target schools? damn.
Knew this was going to happen; from a talent perspective they want to stay competitive. Theres still nearly 2 months to go before internships actually commence. Not sure why people were thinking that these firms' first correspondence was going to be set in stone. Wouldn't be surprised if other consulting firms do this as well as EB/BB/MM
Right okay fuck banking lol /s
Out of curiosity, is this Bain’s first correspondence or had there been emails about it going virtual etc prior
They had said before that they were moving virtual. The same day, McKinsey said they're going virtual with full time offers, so BCG did the same as McKinsey a few days later. Bain has been quiet for a few weeks after just moving virtual until this, and they told media outlets like Business Insider they'd be evaluating all interns for jobs. Then this happened...I wonder how much the bashing they got on forums like this influenced their decisions to step back...
Since consulting intern classes are much smaller with larger FT recruiting classes, does this really affect FT recruiting at all? I thought most MBB interns got returns anyways.
FT this year could be significantly harder than years past:
1) Recessionary risk makes it such that these firms may decrease overall class size. 2) Recessionary problems make it such that a greater % of interns accept than would normally, decreasing the number of fulltime spots 3) While these firms typically give ~85% offers, a 15% delta is big, also decreasing the number of FT spots. 4) Firms were already moving towards taking more and more summers 5) Lack of other opportunities / other industry's lesser resilience could make it such that more people apply to consulting firms.
Incoming ACI supposed to start this summer in the EU.
No news as of today. Actually, haven't heard back since signing months ago.
I believe this was in reference to the US. Decisions are made on a regional basis.
Indeed. I'm just throwing some additional info out there.
Incoming BA intern at McK in MENA, I did not get any news when last month US folks were talking about how they received guaranteed FT offers. I think decisions are made regionally too.
As an update on this, the internship was moved to a mostly virtual format without significant delay. No mention of guaranteed FT offer.
When are you due to start? Waiting for BCG to inform me :P
How many rounds of interview were there for the MBA internship role?
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