The MBB Aren’t Hiring Fewer MBAs – They’re Hiring Different Ones

GENERALIST OR SPECIALIST?

The sheer number of hires into the MBB might be on the upswing, but the reality is a bit more nuanced, says Namaan Mian, chief operating officer of Management Consulted. “You might actually still see generalist headcount grow, but on a per capita basis, it’ll be lower than it was 10 years ago. I think that’s where things are heading.”

Like LBS’s McLoughlin, he sees several trends emerging: “Number one, the hiring mix is shifting. Number two, the hiring timelines are shifting and the way firms are evaluating candidates is changing.”

“I could see a trend towards more specialist hiring at the expense of generalist hiring … in the interim, (the Big Three firms) need to continue to remain a top destination for generalist talent.”

Recruitment heads, though, insist they’re not hiring fewer generalists. As McKinsey’s Ciesil puts it: “We are and proudly remain a generalist firm.” Her colleague Kristin Altenburg, McKinsey’s associate director of talent attraction, highlights the ongoing importance of creative, conceptual problem solving. On generalists vs specialists, she says “it’s an ‘and’ not an ‘or'”.

Likewise at BCG. “We have not changed our strategy at entry level, we still believe there’s great value to a diversity of profiles and the generalist experience early on in one’s career,” says Meyerholtz. Still, he concedes that there might be something to the idea that specialists are on the rise. “I think we may find ourselves in a world where people are developing those specialisms faster.”

LONGER TIMELINES

Official hiring for the MBA still follows the same rough timeline it has for years, but the lead up – starting to prepare via research and networking – now starts far earlier. These days, students are expected to hit the ground running before they even enter the MBA.

McLoughlin at LBS has codified a system. “Step one is do your research, reach out to alums. Talk to people and ask, what is the job? Does it align with my values, do I have the skills to do the job? … Step two, now I have target list of companies, who do I know already in my ecosystem; where are the gaps; how can I utilize what LBS has to fill those gaps?”

She encourages students to keep an Excel sheet with contacts, including how “warm” each is and a plan of action for each. Careers coaches are there in part to help students stay realistic. “If you send out 50 emails and only two people got back, maybe [it’s time for] course correction.”

She says LBS has also changed how it’s supporting students. “We’ve gotten a lot smarter with resources – they enable us to meet students in 24-hour kind of way.” Her team are also coaching students to course correct and in resilience. “Students are having to hold their nerve a bit longer” with longer hiring cycles “and they might not get everything on [their] aspiration list”.

ONCE YOU’RE IN THE PIPELINE

Following a couple months of networking, the hiring process officially starts. And once you’re in a firm’s pipeline, “it moves pretty quick”, says Mian. “That’s what trips candidates up, is they feel like they have a lot of time to prepare, but once…the firm invites you to interview, you get that first interview invite very, very quickly.”

Some firms have what’s called a ‘super day’ into which they compress several rounds of interviews. Often, there’s a defined period of time for candidates to take the test. Often cameras are required to be on and software prevents you from exiting the program to deter would-be cheaters.

A ‘MORE HUMAN’ EXCHANGE

The rapid adoption of AI has led firms to change their interview processes – to include more automated elements as well as tests that focus on candidates’ ‘human’ qualities.

An example of the latter, McKinsey is piloting a more conversational behavioral interview. A departure from the traditional format where candidates are asked to recount stories from their professional life, the new format mimics a meeting with a senior client. It tests students’ ability in “inherently human” skills, including whether they can build rapport with their interlocutor or “gently push back on a client when they try to expand scope”, says Mian. For now, candidates’ performance on these interviews isn’t evaluated, but he expects it will soon become standard – similar to what happened with the rollout of digital assessments, now standard across regions.

In today’s world, it’s even more true that “there’s no better way for us to get a better read … than for us to sit across table from someone,” says McKinsey’s Ciesil.

BACK TO THE TABLE

Last year, the company moved back to in-person interviews for all hires after piloting them in certain offices. Consultants come down to a handful of campuses, though most applicants are flown out to its offices.

Bain also does in-person interviews as part of the hiring process. That’s because “some things that don’t translate” to video, such as eye contact and firm handshake. He recalls an “awkward” interview in January where a candidate just kept looking at his shoulder. Like McKinsey, Bain is also experimenting with new technologies. It’s piloting 3D technology for remote interviews. Still, it does a first sift of resumes by hand, says Bevans.

BCG’s AI use in hiring is perhaps more bullish. It uses AI for its initial resume scoring in some countries, per regulatory approach. It has had an online case study for many years, but now it is launching an AI-chatbot administered case. The firm has also “further deprioritized” cover letters. Still, Meyerholtz says candidates interact with an employee more than once during their interviews, whether over Zoom or in person. “Throughout the process … there’s going to be multiple engagements with a human,” he notes. “We’re not looking to outsource decision making in any way to technology.”

A PREMIUM ON SOFT SKILLS

Outside the Big Three, there’s also a strong emphasis on the human element. This February, the consultancy PwC announced it would roll out its “industry-first human edge skillset curriculum” in the US. It has identified 15 human skills – such as empathy, relationship-building and intellectual curiosity – that it considers critical in employees.

For their part, business schools have also doubled down on soft skills.

Emily Gill, founder of the human skills tool Levra, says there’s been a seismic shift since she did the MBA at Oxford five years ago. “The ability to develop empathy, resolve conflicts … those definitely weren’t being taught. In the last couple of years this has become a definite priority.”

FUTURE PREDICTIONS

Global recruiting heads at the firms say they don’t expect any slowdown in hires, at least in the next few years. But there’s more skepticism in some corners.

“All the big accounting firms aren’t going to be hiring as many people,” says Levra’s Gill. This January,  McKinsey CEO Bob Sternfels made waves when he said the company now has 25,000 AI agents working alongside 40,000 humans. The move “sets the backdrop of the world which these MBA students are moving into,” Gill says.

Mian takes a moderate view. “I’m not convinced you’re gonna see a broad hiring pullback. What I do think could happen is that you see the firms prioritize different skills and different kinds of hires.”

Instead, he believes the number of MBA hires will hold steady. “And that just means as demand increases for those seats, the competition gets more intense.”

ADVICE FOR APPLICANTS

He advises candidates to treat recruiting as a part-time job. “The case interview is still like the biggest determinant of success once you reach the interview round,” he says. “The way that you’re asked to solve the problems is very unique, very specific, and it doesn’t come naturally to almost any human being I’ve ever met. So practice out loud, start practicing early.”

Gill advises potential applicants to keep an open mind beyond consulting. They might ask themselves whether they’re interested in consulting because it’s suited to their skillset or because it’s traditionally a path for MBA students. She urges them to think, “What would I really want to do if it weren’t for title or McKinsey label?”

The answer? Perhaps something different.

DON’T MISS THE CONSULTING CONVEYOR BELT: WHERE TOP MBAs GO AFTER McKINSEY, BAIN & BCG

© Copyright 2026 Poets & Quants. All rights reserved. This article may not be republished, rewritten or otherwise distributed without written permission. To reprint or license this article or any content from Poets & Quants, please submit your request HERE.