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McKinsey & Company Bain & Company Hi Fishes,
Can anyone help me with a referral in a consulting firms like McKinsey & Company, Boston Consulting Group , Bain & Company
for a role of Associate/Senior Associate/Business Analyst?
I have a 3.2 YOE as a business analyst/consultant in a Big 4 firm.
Thanks in advance
Have you ever fired someone? How does that feel?
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Hi fishes,
got the offer from BNY Mellon | Pershing BNY Mellon Corporation Pune, India.
The offer letter mentions only fixed pay. HR told me that PF (employer), gratuity, and bonus (8%) are over and above fixed pay. But there is no mention of a bonus anywhere on offer. is this correct or am I getting tricked by HR? Help from current and ex BNYs is much appreciated.
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PIPs are also sometimes used to document that the firm has tried to accommodate certain underperforming individuals so as to protect the firm from potential lawsuits once they do let them go (I.e. I’ve seen it done for religious people and people of color). Sure enough once they were let go they tried to sue the firm even though they were really just bad. (Not RSM)
If you get put on a PIP, jump to another firm and restart from scratch. They wont know you were on a PIP (unless they know someone from the inside), and you’re not stressing about clawing yourself back out.
I’ve seen someone direct fired without a PIP. I was on a 60 day PIP for reasons that still confuse me and got off it and now am rated well
Classic pwc move
I'd assume every firm has some kind of PIP program. It's a risk avoidance exercise for the employer, and sometimes it dramatically improves an employee's performance. There isn't much of a downside.
I would typically measure a PIP in months. It could be as short as a couple of weeks if someone is on thin ice and the firm wants them gone, but it usually takes months for the whole process to play out: person performs, supervisors observe and share feedback, powers that be are satisfied with the change.
If someone is clearly underperforming and there's no hope for redemption, they can get fired without a PIP. I've seen it before. Most of the time, one of those two things isn't true. Either there is hope for redemption, or the underperformance isn't clear enough yet. In the second case, the powers that be will use the PIP to build up a rap sheet or a list of charges against the person.
I saw in my old firm someone get fired for performance. Weird thing was he was never on a PIP and his mid-year, 1st annual review and 2nd mid-year review were good. Suddenly at the end of year 2, he got a bad review after busy season from certain seniors not all. This was a testament really to the firms lack of resources. He excelled very well in EBP audits and non-profits but could not figure his way around other types of audits for industrial products. Instead of the firm playing to his strengths and staffing him on engagements that played off of his strengths they just fired him. I thought it was kind of shitty and I argued with the partner for that decision too. And as for the seniors that caused him to be fired I simply let them know that if anyone needed improvement, it is literally your job as a senior to help. I’ve seen stories like that often and I’m not surprised these firms are getting what they deserve right now with staffing shortages. I think that if someone wants to work and wants to improve provide them with the tools and resources to be successful. Side note that guy is doing really well for himself now as a controller for a cybersecurity company and has been at it for 5 years now.
To edit my point on lack of resources: the firm had tons of training resources for EBPs and NFPs in which is the reason he was so good at them. There was little to no training on commercial jobs other than OTJ training which is highly dependent on the team you’re with. If you’re on a team that sucks a** including the senior and manager. That is reflected in the outcomes of the staff.
I knew an S1 direct fire for performance.