McKinsey NA Start Dates are being pushed back; individual circumstances will be considered. They are being "Smoothed out". No word about stipends.
What does this say about the overall state of the consulting industry?
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Felt like this is expected given BCG's announcement. I hope that Mck will at least be more considerate of international students. All eyes are now on Bain...
Bain already asked some incoming FT associates to start later. Things are very quiet there now.
Oh no....guess this is happening everywhere. By associates do you mean ACs or post-MBA consultants?
I work at Bain. At least in my office, we're still quite busy. No idea on start dates for ACs or Cs though
Where have you heard this? I'm incoming McK NA and asked on a group chat with a dozen of other people and no one has had a change
I heard this today because my start date was pushed back. Definitely happening.
Damn sorry to hear. I heard from a couple of people that they were moved but only a couple of weeks / 2 months at most, not all the way to January like some of the other firms. How bad was it for you?
A few weeks, so not terrible considering the alternatives. It seemed that they were not pushing people by a significant amount, but I have no confirmation of that besides what I heard.
I was moved 5 months to January (incoming BA) :/
It's been interesting to see how reactions to this post and the rumored Bain push back have differed from the post about BCG's announcements. Just go look at the posts on BCG giving FT offers and BCG start dates pushed back compared to this one. BCG seems to generate a lot of vitriol against the firm even when a post is about something positive they did, while Bain and McK seem to garner more positive reactions here. Just an observation.
"BCG gives all interns fulltime offers" "BCG's a shit firm that's doing a publicity stunt" "McKinsey gives all interns fulltime offers" "McKinsey is a gospel firm that 100% of BB cross-offers will obviously go to."
"BCG pushes back start dates" "See BCG is a shitty firm that is dying" "McKinsey pushes back start dates" crickets
Not pushed back, "smoothed out" Mck just has a way with words
I wouldn't read into vitriol or lacktherof as anything more than a reflection of the overly exuberant attitudes of the overly competitive new / incoming hires that dominate this forum.
Though it might be a minor reflection on the type of people the different firms tend to hire. (looking at you, aggressive, type A McKinsey stereotype which may lend itself to some of that competitiveness ;)
Yeah the only thing I read into it is now I would assume BCG might not be as represented on this forum as I once thought. I once assumed there was a roughly equal breakdown between MBB here, but now I would guess that's not the case. Or perhaps it's something about the personality of the hires as you suggest, who knows. Another (maybe unlikely scenario) is it's just one or two people posting under multiple accounts anonymously who really dislike one firm lol
Most firms are busy right now. However, they aren't bringing on new people likely till Jan. No one knows what the end of the year have in store don't need costs on the books for no reason.
Just to clarify, all the summer McK full-time people still have summer start dates (that I know personally, don't know about the policy firm-wide)
McK doesn't do firm wide policies for start dates. Hiring dates are delegated at the "office" level (can be one office or a cluster of offices, depends on the region), so it's a very case-by-case situation.
Obviously, as you guys might imagine recessions are pretty bad for MBB, particularly now that the Big 4 have much better strategy consulting arms. McK is probably the most solid one, since, besides being the bigger platform, it has an incredibly strong presence in Asia (particularly China).
Yes, I think that is the best approach. Some groups of people may be more sensitive to start day changes and I think it is important to take that into account.
Also, a recession hurts everyone, particular in the service-line. However, MBB hurting has little to do with Big4's strategy arms. In fact, from people I've talked to, big4 strat is much more at risk than MBB due to the focus on implementation work - which are being cut across the board. You can see this reflected on the news with layoffs from Deloitte, PwC and now EY. Generally Big4 and MBB do not complete in the same areas, and when they do (usually EY-P or S&), it is generally done on a cost-basis. Now that MBB is adding heavy discounts, it is actually these big4 strat arms that are being squeezed out.
Where did you hear about these layoffs? Are they recent?
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