The Blubber

Freshly minted graduates joining consulting powerhouses like Bain, Boston Consulting Group, and McKinsey often find themselves deeply immersed in work right out of business school. They find themselves in a constant back-and-forth between airports, diligently refining presentations, and tending to emails until the late hours.

However, in current times, a recent report from The Wall Street Journal reveals a different trend. It appears that some newly recruited consultants are now being compensated for idling between projects, awaiting their next assignment. The report, which gathered insights from over 30 existing, past, and aspiring consultants, underscores this shift.

Due to the prevailing economic uncertainty, there appears to be a scarcity of projects, prompting consultants to utilize their spare time for personal errands, recuperating lost sleep, indulging in television series, and even pursuing alternate employment opportunities. Referred to as being "on the beach" or "on the bench," this concept is not novel in the consulting sphere, yet it seems to be becoming more prevalent and extending over longer durations due to the economic downturn.

One consultant, interviewed by the Journal, mentioned that since commencing work in the prior autumn, they had only undertaken two client-facing projects. During the interim, they occupied their time by taking leisurely strolls, grocery shopping, napping, and streaming shows like "Fakes" on Amazon Prime. Another consultant, who entered the consulting realm around a similar time, shared with the Journal that she was engaged in meal preparation, bonding with family, and actively job hunting.

Individuals entering consulting firms post business school typically secure substantial six-figure incomes. Notably, nearly half of the MBA graduates from Yale, Dartmouth, and the University of Virginia, during the preceding year, secured positions in consulting firms with a median annual remuneration of $175,000.

Moreover, in the previous year, the "Big Three" consulting firms—Bain, McKinsey, and BCG—publicized an elevation of their base salaries from $175,000 to the range of $190,000-$192,000 for fresh graduates in the United States.

Nonetheless, despite the well-compensated nature of this downtime, it isn't always as gratifying as it may appear. Some consultants are exhibiting signs of unease concerning the potential impact of prolonged periods of inactivity on their professional trajectories.