The offer comes with some interesting incentives that will help to keep MBAs busy while in postgrad limbo.
Bain is reportedly promising $40,000 to MBA recruits who spend the next year working for a non-profit. Those who opt to learn a new language can pocket $30,000, or— for $20,000— Bain has suggested fresh graduates could go on an African safari or become a yoga instructor.
McKinsey & Company is another of the 'Big Three' management consulting firms delaying starting dates for MBA hires.
The decision to delay comes as layoffs have been fast-spreading across the tech and finance sectors, industries that account for a large number of consultancy clients.
Recently, McKinsey was the first big-name consulting firm to announce job cuts, starting with up to 2,000 back-office jobs.
The Big Three are consistently among the biggest recruiters of MBAs each year and it is clear that Bain and McKinsey want to retain MBA talent, but the uncertain economy has caused the consultancy giants to take precautionary measures.
Keith Bevans, Bain’s global head of consultant recruiting, told The Journal that delaying start dates for new consultants “becomes more important when the economy is in a downturn”. Adding: “we try to encourage more people to start earlier when times are busy”.
In 2023, the Big Three increased starting salaries for MBA hires by more than $15k. Consultants at Bain can expect a starting salary of $192,000 as well as annual bonuses up to $63,000.
Will the sabbatical bonus or the promise of the impressive salaries be enough to keep MBAs waiting until 2024 to start their new role?
