Written by: Sarah Johnston, Founder and CEO at Briefcase Coach.
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You’ve probably heard of layoff anxiety, but have you heard of hiring anxiety? This is what some new MBA hires at McKinsey and Bain are doubtless experiencing. According to the Wall Street Journal, they have just heard from their employers that some of their start dates (many of which have not been solidified) will be delayed until 2024. To lessen the pain, Bain is offering to pay new hires $40,000 to work for a nonprofit or $30,000 to learn a new language or participate in an educational program if the new hires delay their start date until April 2024.
It’s a stomach-churning moment for these young professionals who, unlike many older workers, never experienced job start delays (or even outright job rescinds) during the Great Recession of 2008. One thing, however, is clear: they face a difficult decision with several pros and cons.
Emory University marketing professor David Schweidel sympathizes. “On the one hand, students may appreciate having a little bit more flexibility after finishing up what can be an intense 1- or 2-year program. … But, given the current state of the economy, this is certainly going to create some anxiety… Right now, offers aren’t being withdrawn. But anyone that travels frequently is familiar with the 20-minute flight delay that ultimately becomes several hours or ends up being canceled. There are also students who will be eager to get to work because of financial obligations.”
Briefcase Coach’s Sarah Johnston asked her followers on LinkedIn how they would counsel these recent hires. While the majority of those who answered felt these recent hires should move on to a different job, unsurprisingly, she received a wide range of opinions. Let’s start with the disadvantages first.
To learn more about what Johnston considers the Pro’s and Con’s of being in this position, click here to continue reading the article.