Trying to figure out if it's the right time to jump to LEK (post MBA, ~1 year boutique consulting). I've been having chats/informal interviews and will likely be getting an offer for a practice that, from the sound of it, needs extra bodies to lead projects. I would probably be starting in February, but I'm concerned that I'm setting myself up to get laid off if the economy keeps going downhill. I have good job security at my current firm, but the pay is much lower. Thoughts?L.E.K. Consulting
We have historically not had layoffs in recessions. We also tend to bounce back a bit earlier given our heavy PE exposure
Rising Star
We absolutely had layoffs lol wat. London office during covid laid off a lot of people in the first wave
Unless some catastrophic event happens, I don’t expect layoffs in T2 firms. Worst case a hiring freeze would lead to a decline in headcount very quickly.
Chief
No-brainer
Thank you!
Let’s be real, management laid off folks in April 2020. They weren’t called layoffs, but a lot of folks who weren’t performing well and previously would’ve been given another review cycle to improve were cut.
To OP, if you perform well you’ll be fine. FWIW, in my experience laterals haven’t had the best time.
LEK5 - go ask any of the 10000s of unfortunate people that lost their jobs in tech over the last month “what is different?”
Layoffs aren’t connected to performance
Last in first out dude — recession — you do the math :)
If we are hiring you for a specific practice experience then you’re probably very safe
Awesome, that's good news--I'm being brought in for a very specific niche so it sounds like I might be in the clear. Thank you!
LEK has never done layoffs
Nah that doesn’t happen. Our staffing model puts the onus of allocating a case onto the staffing team. I’ve been on the bench for weeks at a time and it doesn’t look bad on the person itself so long as you aren’t on the bench because you’re a low performer