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Kab tak aayega yaar yeh appraisal
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Celebrate responsibly y’all
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How do you know if you’re a top performer?
Guys there’s this boot camp that I came across that trains people to get jobs in Top consulting firms and has a fee plan wherein you pay once you get placed. I just wanted to know if someone here has any experience with this ?
https://docs.google.com/spreadsheets/d/e/2PACX-1vQuKa3k-rG3emxJcfbidCjC0Su85E_BKqW9cTeFZMY4xg4LnUVxOLrpcETqf7d-iEePlFh6lJ1knwwD/pubhtml
Dang. URI just beat Okla. 😭😭
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I am so sorry you are going through this. Consulting firms look at two important metrics 1) meet utilization targets (ideally exceed them) and 2) obtain consistent positive year-end performance reviews). You mentioned you were 15% below target last year and that you also received “not great” year end reviews. I am really not trying to be rude, but those should have been indicators, those are literally the most important things when it comes to evaluating a consultant. There are practitioners constantly exceeding targets and getting top reviews. Sounds like you were ranked lower than your peers, but I have no doubt that you are highly capable and will succeed in your future role. Best of luck!
OP Your counselor may not have known. I had a counselee several years ago who had gotten 3s on every PE, I recommended a 3 rating and the consensus panel agreed with no pushback. When the green light came he had a 4. I had to push to even get a solid reason why so that I could explain it to him. Apparently they had discussion afterwards and downgraded him to a 4, and didn’t even bother to tell me.
PwC did the same thing to me and looking back it wad the best thing to have happened in my life. I do not have to pay back my signing bonus and can move on to a role that aligns with my career goals instead of being mediocre at everything under the sun. It took me 3 months but I found a buyside role in industry and now will be the client for firms selling advisory work.
Here is my advice:
1. Have a target list of competitors / firms you want to work for.
2. Find the common connection at those firms or connect with their experienced hire recruiters on LinkedIn and make an introduction (this suprisingly worked pretty well).
3. Have your story on what happened and why you exit lined up and maybe ask your SM to be your reference. This is key and I suggest you practice it over with someone you trust.
4. Apply for unemployment insurance (no one will see this and most companies will not disclose the reason for your exit).
5. Use the time to catch up with the people that matters to you. Friends and family helped me get through my situation and maintained a positive attitude, which is key in phone screens and interviews.
6. If you are now on the client wide, you know which firms to those their pitch decks in the trash ;)
That’s sucks. Happy to refer you to BCG dude, we don’t lay people off so you’d have some peace of mind
MBB has an excellent reputation for helping people transition - thanks for being an upstanding person, BCG1
What kind of severance were you offered?
I am curious as well.
I’m sorry to hear that. Do you mind me asking which practice it is in?
Agreed, curious which practice if you don’t mind saying OP
I’m going to guess you work at Deloitte. I’m sorry. That’s happening to good people right now.
@OP I’ve heard they are across the board and due to missed financial performance. They’re also in a hiring freeze.
It is rare any company would admit that publicly, but unfortunately people who were on the lower end of standard metrics at the latest reporting period are usually the first to go. If it was directly related to your personal performance and you haven’t done anything extreme they would have put you on a PIP. If it was something extreme you would have been let go within a day or so and told exactly why.
I’m in shock and my engagement SM is in shock too. My feedback wasn’t that great last fiscal year but no one ever gave me any hint or told me anything. I wouldn’t be shocked if I was let go then. But after getting a solid review and solid utilization and working long hours and even on my religious holiday I worked, I’m just in shock
That is a terrible thing to do- hold the axe over someone right before the holidays when they could’ve been looking for a new job this whole time
You said your feedback “wasn’t that great last fiscal”. That is an indication that you are at risk for being let go. I get that you improved but the next review cycle isn’t here yet...
I’m not trying to be rude or insensitive, I feel for you and this sucks.
Lol, i know for a fact consistently high performers can be let go as well without prior warning. esp if pipeline dries up
Deloitte blows, sorry I am so desperate to leave
Can you please tell us what practice you are in? Gps? Commercial? S&A? Human capital? Don’t drop this bomb and freak people out without context
SM1, never been there yet. Also a long timer, so cold feet and bit rusty abt the whole interview / hiring
Looks like they're letting a lot of people go today. This is the 3rd post I've seen within the last hour.
Wow, when recession hits it will be a blood bath. Good luck for you guys there!
I’m surprised no one has asked this yet. OP did you receive little to nothing in your YE raise and bonus? Aside from metrics and qualitative comments in YE reviews, that would’ve been a clear sign of your standing in the firm.
Regardless I wish you the best on the next step in your career. What happened to you is truly unfortunate and I hope it will only make you stronger in the long run.
I am wondering if this is happening to me soon. I had a decent YE review, but first time I received absolutely nothing for comp increase. No bonus, no increase. Nothing.
OP: hang in there. You will
get a role. I was laid off from Deloitte in a similar way and it was because of low utilization. At that time there was not enough projects and though was I was one of the top performers I was laid off without notice. I was shocked at that time but that was the best thing that happened so far. Moved on to diff firms, got promoted, and nice things. So have your chin up and move on. You will get a good role soon. D is know for stuff like this. Good luck. 🤷🏻♀️
Curious about this as im in similar position. Was there any notice or severance ? Never known deloitte to just layoff, usually it’s a pip. So that at least gives you time to correct or job search.
I was laid off as well on Monday. Returning my laptop today :(
I don’t understand the timing. So many layoffs so suddenly.
Yes it was surprising for me as well
Sorry to hear that. Happy to put in a referral at EY.
Sorry to hear. Happy to help you find a role at PwC and offer a referral, should you be interested in that.
Keep your head up.
PwC is doing this same thing...firing folks who are billable even. It’s all in anticipation of the looming recession
I hear you...however in rebuttal...
EY is doing layoffs too. I know a few people in FSO who’ve been let go in recent months
Juicy. Please elaborate.