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How would Bain know how MCK and BCG are doing?
Sometimes, but there are also many legacy clients that they know nothing about
20% of Bain revenues are from PE. You work it out.
Rising Star
Most of the spend on management consultants is discretionary. So yes,, there is and will be a slowdown in consulting $s.
Most clients are on the path of savings themselves (survival) vs. innovating and growing themselves. Unless you are helping them survive, they are less likely to spend on consulting.
Rising Star
Its generally falsehood to say MBB is “competing” for work in the direct sense with one another. Our work generally comes from deep relationships with executives who aren’t looking at the other.
We do have competitive proposals, but that’s not the usual given those can take weeks to decide on when our work is generally only a few weeks long.
Chief
McKinsey is fairly busy.
Why did you break up? Mck is not firing anyone so time to patch up?
Someone posted a few weeks ago that 200 NA McKinsey managers were on the bench, so dunno. MBB seems reluctant to speak here about business conditions generally.
I am not sure if anyone is going to admit here but if the economy is down then consulting firms have to be down. Some will over-perform based on business model but generally things are not good.
All privately held consulting firms are notoriously quiet about revenue esp. during downturns. OW and Accenture are part of public entities so we’ll see their Q2 revenue soon enough. I believe someone yesterday posted that Deloitte is projecting a revenue decline of 17% in the next fiscal year.
I’m a manager at Bain NA office. Not sure about overall book of business but our office is currently operating at max capacity. Had to settle for 3 days vice normal 5 day overlap for two positions that we just rotated.
Rising Star
My impresssion is Bain is more focused on pure strategy and PE, which are the hardest hit in a recession. McK and BCG have both tried to diversify their offerings very quickly in the past few years, so they may be in a better position right now
SA1, sell side needs a buy side. It’s too hard to price in this market. Just because there’s dry powder doesn’t mean funds will buy at any price to put that capital to work.
I know Bain and BCG pushed new hire start dates back 3-6 months
Chief
Nope