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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 ;)
What? There has to be a reason. Was anyone else let go?
Not really. We are all at-will employees. For many who have worked through tough times before, this is unfortunately just the pendulum swinging back from a solid economy. There doesn’t have to be cause or a reason. Likely this is related to low utilization in a past performance year—if times get tough, the previous accepted norms for bench time decrease substantially and individual metrics become critically important. Meaning that it may be more important to be chargeable than to hold out and find the ‘perfect’ role.
Sorry to hear this OP. You will land on your feet, and maybe even in a better role than before. Been there before a few times and it’s not fun—try to remember it’s likely not personal.
They waited for the current engagement to be over and as soon as I delivered and client was very happy and engagement manager gave me a solid rating next day I found out I’m being let go. Last year my utilization was 15% below target
Depends on the practice I have lots of people under their utilization and they were not let go the next year I think more goes into the decision then that... imho
Sorry to hear that. Happy to refer you to Booz Allen. DM me.
Yea D2, what has your contribution been?
Yes Deloitte
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!
Damn, that’s brutal! Were you on an engagement, or on the bench? Which firm, and which practice? Hang in there, something new and better is right around the corner.
Just rolled off and went to vacation and come back to get laid off
Were you staffed? GPS? That is shitty, friend, I'm so sprry. One door closes and another one opens though, I know EY is supposedly oversold.
I am so so sorry. That is such a nightmare. You deserve to be treated better than that.
Sorry to hear that. I’m on PTO now. I better go back. :(
Sorry to hear that OP
But the real question is why is deloitte laying people off?
We have so many people on the bench right now(including me) across all OP’s because of over hiring. Work isn’t selling so no ones staffing, a hiring freeze is in effect, they’re PIPing people left and right, and letting people of all levels go (including Analysts)