Category: Bain

the image is the cover for an article on the great resignation on consulting

How the Great Resignation Affects Consulting Firms

The “Great Resignation” or the “Big Quit” refers to the idea that many people have become disengaged and disenchanted with their jobs and employers. Some experts believe that the COVID-19 pandemic has accelerated this trend, as many people have been forced to work from home and have become disillusioned with the traditional 9-to-5 workday. Additionally,…
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How the up-or-out promotion system works inside McKinsey, BCG, and Bain.

Up or Out in Consulting: What Really Happens Inside MBB

By Florian Smeritschnig, former McKinsey Senior Consultant. Updated July 2026. Up or out in consulting is the principle that you either get promoted to the next level within a set window, usually two to three years, or you leave the firm. It sounds brutal, and the phrase scares almost every new joiner at McKinsey, BCG,…
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the image is the cover for an article on consulting recruiting slowdown and hiring freeze

Consulting Recruiting in 2023: Slowdown or Freeze? (2024 Update)

One of the most common concerns I currently read across all consulting job boards and discuss with my clients is that everyone feels the slowdown in hiring with firms such as McKinsey, BCG, and Bain. On top of that, I see decreasing activity in article views, and coaching requests (not just myself but colleagues as…
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the image is the cover for an article on passing the consulting screening process for applicants

How to Get Into Consulting: The 2026 Guide to McKinsey, BCG & Bain

Updated June 2026 · By Florian Smeritschnig, Former McKinsey Senior Consultant To get into consulting at McKinsey, BCG, or Bain, you have to clear four gates in order: a screened resume and cover letter, online assessments like the McKinsey Solve game, and the case and fit interviews (usually two rounds). Fewer than 1% of applicants…
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the image is the cover for an article on consulting vs. investment banking

Consulting vs Banking: Which Career Path Is Best?

The biggest competitors for McKinsey, BCG, and Bain when it comes to hiring are not tier-2 consulting firms but top-tier investment banks such as Goldman Sachs, JP Morgan, and Morgan Stanley (besides big tech companies). Many applicants I work with consider going into top-tier consulting or investment banking. In this article, I want to break…
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