McKinsey Full-time Start Dates "smoothed out"
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?
I work at Bain. At least in my office, we're still quite busy. No idea on start dates for ACs or Cs though
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
Obviously I'm biased, but the communication seems different. I was told a month ago this may happen and was given an update two months in advance that it was confirmed. On the other hand, I have a few friends in my MBA program who had already moved to their new cities and then were told by BCG last week that they have a 4 month delay (with no heads up/warning) and are now scrambling to figure out how to pay rent.
Hell, there are full-time bankers/consultants not renewing leases right now. C’mon.
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 ;)
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.