Consultants make $175,000 right out of business school. But some of them have no...
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Consultants make $175,000 right out of business school. But some of them have nothing to do — so they're just sitting around getting paid.
New hires at some top consulting firms don't have enough work, The Wall Street Journal reported.
The slowdown comes as some firms have even paid new recruits to delay their start dates.
MBA grads recruited into top consulting firms often earn sizable six figure salaries.
New hires at consulting firms like Bain, Boston Consulting Group, and McKinsey, fresh out of business school, are usually saddled with work. They're often shuffling to and from the airport, busily brushing up presentations, and answering emails late into the night.
These days, though, some newbie consultants are reportedly getting paid just to bide time before their next project rolls around, according to a recent report by The Wall Street Journal that included the perspectives of more than 30 current, former, and prospective consultants.
Amid uncertain economic conditions, there just doesn't seem to be enough work to go around, so consultants are using their free time for running errands, catching up on sleep, watching television shows, and even applying for other jobs, according to the Journal's report. Many consultants call this time being "on the beach" or "on the bench." It's not a new concept in consulting, but apparently is happening more — and for longer spells — amid the economic slowdown.
One consultant told the Journal he's only had two client-facing projects since starting last fall and is filling the time by going for walks, buying groceries, napping, and streaming shows like Amazon Prime's "Fakes." Another consultant who was also hired around a similar time told the Journal she's prepping meals, spending time with family, and job hunting.
Those hired into consulting firms out of business school generally take home hefty six figure salaries. Approximately half of the MBA graduates from Yale, Dartmouth, and the University of Virginia last year were hired into consulting firms with a median salary of $175,000, the Journal noted.
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