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Although Amazon has instituted a hiring freeze and layoffs are probably on their way, I went through the loop for a security engineer position at AWS. Before I attended the final interviews, Amazon placed the hiring freeze and called me to ask if I wanted to go ahead or cancel my application. I decided do go ahead Right now I'm waiting for their response and the position I applied to changed from "under consideration" to "no longer under consideration". Thoughts?
Tata Consultancy What is the maximum salary i can ask in TCS ? I have my Hr round on 9th of August.
Im from mainframe background playing a project lead / Architect role with 12.5 yoe. My ccts is 23 lpa. Im also expecting promotion in another month or too .
Considering all this factor i am thinking to as minimum 34 LPA .
PLEASE pour your suggestions.
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McKinsey & Company Does working at a McKinsey subsidiary or specialist practice open doors similar to working in generalist consulting there? Examples include Orpheus, Finalta, QuantumBlack and other acquired companies. Can you work there for 1-2 years and benefit from a halo effect that helps you enter industry more easily? McKinsey & Company
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DeWalt vs Milwaukee tools?
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Big4 is a poor deal concerning time/salary ratio and the brand isn't a draw anymore
Fully agree. Especially where I work.
Chief
What does it say that even people who are unemployed aren’t going to big 4?
DM me if you can give a referral for this candied pecan stand.
We are not noticing mass layoffs, hiring freezes, or cash flow problems
We are noticing a lot of fear because the midterms are coming up. We have the data and know that there aren’t mass layoffs. We know that “hiring freeze” is just the end of year budget thing that corporations always do
This is just midterm fear. There is no actual economic crisis happening. We are in the tightest labor market since 1976 and companies can’t hire talent fast enough
Also mortgage business/departments are getting hit hard. No surprise there.
Chief
You know what I find interesting when I see these kinds of posts? There is never a mention that the talent doesn’t exist. It’s always “we are heavily short-staffed” or “these roles are difficult to hire”. It seems to me that Big 4 either needs to make more enticing offers or do more to target the experienced hires you need to fulfill these roles.
Got assigned to create training Manual by Sr Manager for ERP system I’ve used and known about for 2 weeks.
Told me everyday I was irreplaceable and took me out to steak dinners, lunches etc. I swear he would use me to hide from wife and kids, I constantly had to say no I don’t want to drive 30 miles downtown when I have 3 monitors at home.
Threw me under bus during mid year over 1 meeting in 4 month engagement which I got awards, cash etc 👍
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Garbage collection is an easier job than consulting. They don’t get panic attacks and such from their work.
D6…not all garbage collection jobs are like that anymore. My guy has an automated machine and he drives it alone
We see hiring freezes and mass layoffs in a sector (tech) that doesn't employ very many people relative to other industries if you look at metrics like revenue per employee. And tech doesnt hire many consultants anyway. Other industries are doing quite well (energy, healthcare), and are bigger consulting buyers, do consulting keeps humming along.
This is the best take. Growth stocks are getting hammered right now. Other sectors aren't seeing as much softness and it reflects in buyers budgets.
Pro
This app made many of your prospects realize how lame and not-worth-it it is to work in big 4, whether from a brand, exits, or salary/work perspective. Transparency is a good thing when you can see what your colleagues are making, but it can also bite your company in the ass too if your firm is the butt of people's jokes or you're not offering a comparable value for their time.
This might be the best comment I’ve ever seen on FB. I got lured into Big 4 audit out of UG because my big state school said it was prestigious and I didn’t know any better.
I’d say in times of chance, the demand for consulting grows. You want those experts in these hard times.
On the other side, hiring consultants becomes more and more difficult. WLB becomes more and more important and the consulting industry isn’t that attractive anymore. Traveling is cut, bonuses are getting smaller, climbing the ladder seams easier, but actually got harder (just rank inflation) and you just feel that your partners nowadays just cutting every extra costs. I for example cant remember the last time when I had a really nice chargeable dinner, a fancy hotel room or flying to the client every week. Was a nice job back then, but not anymore and the payment did not increase enough to compensate for it…
As B4 rates (and margins) increase; so do client expectations. B4 is an OK place to launch your career but doesn't make much sense after Manager.
Wasn't really including Audit or Tax. More so for Consulting and Advisory
Same here at my firm - shortage of Managers and SMs with current and upcoming work.
More work than ever, we’re continuing to hire associates to meet the need. In any tech adjacent sectors, you’re going to see consulting needs spike to account for reduced in-house staff from layoffs.
Sm1? Did you rescind the offer to DM? 🤣
You are seeing the gap in changing hiring paradigms. People are still looking for jobs assuming there is a near infinite demand for people which means they can hold out on salary, etc. On the client slide, that's already over. Budgets will be gone in January for anything that's not highly strategic and layoffs will start happening to match demand in Q2.
There hasn't been meaningful M&A or deal volume in months. Banking layoffs are coming at scale, tech is coming (the big layoffs of people working 10 hours and making $500k haven't started yet), and consulting will follow.
Big4 works people like MBB but pays them like entry level chemical engineers. There’s an issue there.
Big4 also tries so hard to pigeon hole people into one area
As a former chemical engineer, this makes me sad 😥
Chief
If they hire internationals (sponsor H1B), I'm sure they'd be more people applying
I know firms do but unsure for what roles at big4
Heard many projects are not starting and many SMs and Directors have very low utilization. We have over hired and no projects to staff resources on. Projects starting next year also have reduced scope. Hope things turn around.
It means B4 clients are doing well enough to keep consultants on and pay you. Plus the audit side will always make money. Though I highly doubt they are “understaffed “and getting a lot of big SOWs signed.
You should hope it stays the same. Professional services depend on health of the clients. Just like Twitter, you will see very quick and “stark” change of fortune once the client stop funding projects. I have seen entire practices going on bench in a day. And you can guess what happens next.
Finally, I don’t think firms like Twitter or any tech firm would hire B4 to do anything meaningful , so I don’t see the connection here.
Would love a referral. Been unemployed since September and been struggling to gain traction. 5 YOE finance transformation.
I can refer you to EY Finance Transformation
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Other than Twitter, wouldn’t call it “mass layoffs”.
Meta overhired and sinking money into the metaverse. Not a great combo.
KPMG is trimning on all levels now in anticipation of a slow down. Trimning hard at SM and D level while a bunch of As remains.
Because BAH pays the same for devs and has WAaaay better wlb
Surprised to hear that. As a recruiter that just left big 4 - there were massive layoffs and plenty of people sitting on the bench waiting for work