{ "media_type": "text", "post_content": "MBB 🐠 I’ve heard that your firms generally only keep the top 20% of newer resources after 2yrs. How true is this? How likely is it for someone to get counseled out at the 2yr mark?", "post_id": "5eab5671239df6002a36aca4", "reply_count": 10, "vote_count": 2, "bowl_id": "5d7901c370a602001eff88c8", "bowl_name": "All Things MBB" }

MBB 🐠 I’ve heard that your firms generally only keep the top 20% of newer resources after 2yrs. How true is this? How likely is it for someone to get counseled out at the 2yr mark?

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That’s wildly exaggerated OP. Expectations are high but >60% of new hires make it past the first promotion point and many of those who leave do so of their own accord. Beyond that, it’s varies but 60% retained every promotion/every 2 years is a reasonable mental mode. Of course, 6 years on, a hiring class is probably down to 20%. That also not an indication of competitiveness. We’ve had double digit through-cycle organic growth for 2 decades. We struggle or find enough qualified people to support that growth. You’re only competing with yourself and the job requirements to move up.

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@B1 you’re absolutely on point. The fear and anxiety is always there, to fuel this perpetual machine we worship. What a poor way to organize 20,000 smart people.

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80-90% of our new hires make it to their third year, at least in my North American office. Those who leave do so for other roles at PE/VC firms, med/law school, or low performance.

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I will caveat the above is for pre-MBA, but most of our MBA hires also make it to their CTL year. The “up or out” point happens more notably at Manager.

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Honestly, it’s a small percentage that get counselled out. I’m guessing from the group of people I’ve interacted with but I’d put it at around 5%. However, more people decide to leave around the one year mark because they decide it isn’t the job they want or the lifestyle trade off isn’t worth it.

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Keep in mind, all forms have an attrition target to keep the pyramid stable. In good times, voluntary leavers help make up a large portion of that target. Nowadays though, people just aren’t leaving... meaning everywhere will see a bump in counseled out

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