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1. Companies that traditionally recruit M.B.A.s each year are reassessing.
Consulting giant PricewaterhouseCoopers said it has no plans to hire up to 100 second-year M.B.A. students as it usually does each fall. Meanwhile, EY is waiting to see how a potential second wave of Covid-19 infections plays out before it finalizes hiring plans for the year. Bain & Co. says it is reducing the number of second-year M.B.A.s it plans to hire, but has made offers to this summer’s entire M.B.A. intern class.
2. Students who weren’t able to land a summer internship—or had their offer rescinded—are worried.
In a recent survey by RelishCareers, more than a third of 2021 M.B.A. candidates said they have had job and internship offers rescinded or changed because of the pandemic, compared with about 20% of M.B.A.s who graduated this year. Offers to the class of 2021 have been hit hardest because companies find internships less essential in an emergency, the survey found.
3. M.B.A. grads who had accepted summer 2020 job offers are still waiting to hear when they can report to work.
Several big companies, including McKinsey & Co. and Boston Consulting Group, had already pushed back the start dates for spring graduates who expected to begin full-time roles this summer. PwC says some new employees may not start until November.
4. But new employers in technology are emerging to help fill the gap.
started their B-school recruiting process for jobs and internships earlier than ever before and indicated they plan to make more job offers to second-year M.B.A.s than usual, said Drew Pascarella, associate dean of M.B.A. programs at Cornell University’s SC Johnson Graduate School of Management.
Read the original article by Patrick Thomas here.
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