Mumbai, April 19: Amid the mass layoffs season across sectors globally, Bain & Company is reportedly offering thousands of dollars to new MBAs thousands in order to delay the start of their career at the firm. Interestingly, the American management consulting company even went on to offer fresh MBAs $20,000 to become yoga instructors or go on safari. The move of offering incentives to fresh hires comes as the consulting industry is facing layoffs amid a challenging economy.

According to a report in The Wall Street Journal, consulting giants such as McKinsey & Co and Bain & C are offering incentives to fresh MBAs in order to delay their start dates. As per the report, Bain offered $40,000 to fresh MBAs to work for a nonprofit if they could wait to start till April 2024. Some MBA grads were even offered $30,000 to learn a new language or participate in an educational program ahead of their career start. Disney Layoffs 2023: Entertainment Giant Planning Another Round of Sackings, To Eliminate Thousands of Jobs This Month, Say Reports.

MBA Grads With Offer Letters Offered Incentives To Delay Start

Meanwhile, some fresh MBAs with offer letters were also given the option to become yoga instructors or go on safari for $20,000. On the other hand, McKinsey & Co, another consulting firm has not given any start date to MBA grads who have taken offer letters.

At McKinsey, many M.B.A.s hires don’t have start dates yet, several students with offer letters said. At present, McKinsey is in the process of laying off nearly 2,000 workers and will only bring in new recruits after the sacking process is over and the MBAs graduation in February 2024. Salary Hike for Cognizant Employees: IT Giant Announces Appraisal, Raises Pay of Over 3 Lakh Workers in Third Increase in Last 18 Months.

The decision to push back the start dates of MBA recruits by consulting firms comes at a time when several global companies are sacking employees amid uncertainty over changing economy. It must be noted that the consulting industry witnessed a huge boom during the COVID-19 pandemic period as companies sought ideas and strategies to revamp their businesses.

(The above story first appeared on LatestLY on Apr 19, 2023 12:40 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).