Blue-chip consulting agency Bain is reportedly providing new hires $20,000 to develop into yoga instructors or go on safari for a yr

• Bain is providing new MBA hires tens of hundreds of {dollars} to delay their begins, per The Wall Avenue Journal.
• Some MBAs have been supplied $20,000 to develop into yoga instructors or go on safari.

Bain & Firm is providing new MBA hires tens of hundreds of {dollars} to delay their begins on the agency, in response to a report by The Wall Avenue Journal.

In an effort to push again begin dates in an unsure financial system, the consulting agency is providing some new MBA hires $40,000 to work for a nonprofit and push their begin dates to April 2024, per the Journal. Different communications present the agency providing new hires $30,000 to study a brand new language and $20,000 to develop into yoga instructors or go on a safari in Africa, per the Journal.

McKinsey, in the meantime, didn’t notify most of their MBA hires of begin dates till this week, and a few will not begin work till subsequent yr, per the Journal.

The transfer to push again begin dates for MBA candidates comes as layoffs hit the consulting trade, together with the tech and finance sectors that account for numerous consultancies’ purchasers.

McKinsey introduced plans to get rid of round 2,000 jobs in February. The layoffs reportedly goal help roles and are meant to save cash that can be utilized for advisor jobs.

Keith Bevans, Bain’s international head of advisor recruiting, informed the Journal that asking new hires to delay their begin by a yr is new for the agency.

“We attempt to encourage extra folks to start out earlier when instances are busy,” Bevans mentioned.

Bain didn’t instantly reply to Insider’s request for remark.

Corporations like Bain and McKinsey typically supply new MBA hires a few of the highest salaries in an trade that’s already one of many highest paying for enterprise faculty graduates. Each companies supplied a base wage of $192,000 in 2023, in response to Administration Consulted, a useful resource web site for careers in consulting.

In earlier years, Bain and McKinsey have supplied base salaries of $175,000 to between $190,000 to $192,000 to MBA graduates.