I've got some questions about McKinsey's Philanthropy practice

Hey buddy.... this is a forum for quick questions and posts... not a comparative literature paper.

by the way, no one cares about your story cause we all have one and they are probably more interesting then yours.

Thanks, I shortened up the post a little bit.

^the guy above you is being a narc. Post long questions if you like - they're just a bit less likely to be answered then short ones.

right. i tried to make it as short as i could without cutting out critical info. hopefully i get some good feedback in the morning.

Either way, you're going to need an advanced degree and some relevant work experience. I think you're probably more likely to get into the advanced degree program with some meaningful experience at a non-profit than you are with a 3.3 and a job at a lumber company.

I always thought the social impact stuff was something people get into after a few years with their firm, rather than being hired directly into it, but to be honest, it's not something that I've given a lot of thought.

Options 1) Go work for McKinsey ASAP. Move up the ranks and slowly transition into philanthropy. This is definitely your best shot, however it will be tough to get a job there right now.

2) Get a top degree then go work for McKinsey. Move up the ranks and slowly transition into philanthropy. I'd suggest PhD or MPP programs at Top Schools.

3) Go work for a top foundation: Clinton, Gates, Teach for America. Then get a top MBA and go work for McKinsey (maybe directly into Philanthropy).

Also look at the bridgespan group, Bain's nonpractice group.

right, it's going to be hard for me to either get hired at mckinsey, or to get into a top notch graduate program, right now - with a 3.3 g.p.a. from a non-target school, a non-relevant major, and non-relevant work experience (for the most part). so, i'll probably have to start out with a foundation.

...it's probably best to start with a foundation that i really believe in (i'll be more passionate about my work, and do a better job). but all things being equal, is it better to work for some foundations than others? smaller roles at bigger foundations vs. bigger roles at smaller foundations?

advanced degree?

...i was thinking MBA (with an emphasis in non-profit management) or PhD (with an emphasis in non-profit management). I hadn't thought much about an MPP, because I'm more interested in working in the private sector than the public. But would that be better than an MBA for my long-term goals?

...also, sort of random, but do most of the big consulting firms pay those in their non-profit sector's the same as those in their for-profit sectors (all titles and experience being equal)?

At most consulting firms (including, I believe, McKinsey), you aren't hired into the philanthropy practice area, but rather you are hired as a generalist who develops a specialty after several years. Even experienced hires are generally hired at the post-MBA (generalist) level.

Your best bet by far is to get an MBA and try to get hired as a generalist associate. At the MBA level they won't care all that much about your college GPA (and while 3.3. isn't great it isn't a dealbreaker either), but they will care about GMAT, especially McKinsey.

FWIW, I think your "story" is transparent BS. Not saying that to pick on you, but I wouldn't lead with that in either interviews or b school apps, because it is not really believable. It reads like "I want to make a lot of money but feel good about myself" which is a pretty vague justification for a career path.

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Hmm...so it sounds like my best bet is to get a top notch MBA, and then start at MBB as a generalist. I didn't realize that the social sector was so competitive though. I had kind of assumed that non-profit gigs paid less, and were thus less sought after. It sounds like it's the exact opposite.

...'Philanthropy' is about as general as it gets, but what about some of the more skill-specific social-sector practices at McKinsey, like Economic Development, Global Public Health, or Education? I'd probably need to get a joint-MBA and Masters in Economic Development/Public Health/Educational Administration to work there. It seems like it'd be sort of dumb for the MBB higher ups to place someone with such qualifications into an auto plant (or something), right?...If I really didn't want to waste my time in MBB's for-profit sector, and wanted to start in the social sector right out of graduate school, do you think it would be best to pursue a joint MBA/Masters in one of those fields?

random:

EnricoPallazzo - That's sort of the truth though...I DO want to make as much money as I can while doing 'good' work. I didn't realize that there was anything wrong with that? I mean, it seems like most people are going into MBB to make as much money as possible, period.

2x2Matrix - What's so unrealistic about becoming a college business school professor? To me, it seems much more realistic that getting hired into MBB? I've heard there's a real shortage of business PhD's out there, and I don't think that I'd have any problem with the academic aspects of acquiring one.

What exactly is your motive? If you just wanted to help people you'd be in Africa now. Seems more like you assumed you want to make lot of money (which MBB allows) and have a feeling that Non-Profit practice will have lower bar to get in?

In my firm, getting non-profit assignment is very competitive to get in at lower level. Spending 6 months in Africa saving babies just sound awesome.

peter gibbons - maybe i should be looking elsewhere. i was starting to think that i could go straight into the social sector at MBB if i got a joint MBA/masters in either economic development, public health, or educational administration. but you're saying that even if i got one of those joint-degrees, i'd still be doing non social-sector work at MBB? is that right?

abacab - what's your deal, man? i never said i was mother teressa. i want to live in a first-world country, i want to make six figures, and i want to help people. i guess they should take me out back and shoot me right now.

oops, double-post.

Yes, I think that unless you come in with a significant amount of non-profit experience in addition to that joint degree, you are going to be hired into a generalist role that will require you to do private sector work. You need to be at a pretty senior pay grade to specialize, unless you're going to be a researcher, not a consultant, which is a totally different job but maybe one you'd be interested in.

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petergibbons - could you please talk a little bit about the differences between researchers and consultants at MBB?

2x2 Matrix - it's 'non-profit' consulting, but the government is obviously paying the consulting firm to fix their schools, health systems, economies, etc. i'd imagine that even the foundations are paying the consulting firms in most cases. i don't think there's a whole lot of 'charity' work being done.

It was a valid question. If you think going to MBB thru Non-Profit/Public Sector will be 'easier', you will be mistaken. Also wanting to help people is a dubious answer. Consulting for non-profit is not serving in a soup kitchen, you are working with their organization. You could say you'd be helping people as much with a hospital or any healthcare company as client. Heck even Caterpillar might be helping people since they make most construction equipment that build roads. You get the point.

As someone else mentioned, the work is done mostly pro bono. A Non-Profit can't afford to pay $100+ hourly rate (and add equal or more than that for profit margin), even for the low level guys. Did you know that $1M salary for a partner comes to around $500/Hr? That's before any overhead or profit for the firm. Good luck having a non profit buy your advice. There are two ways I have seen it done. 1. Work as a side project for free (you contribute 5 - 10 hrs/wk). 2. Work full time, where the firm doesn't make any profit/overhead, and you also take a pay cut (25% - 50%) for the duration of the project. Many would take the option for 6 months max, but not for their entire time at a firm.

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