I've got some questions about McKinsey's Philanthropy practice
Hello all,
Brief background: I graduated from a prestigious liberal arts school in the midwest last spring (History major, 3.3 g.p.a.). I've been working full-time for a lumber company (as the office manager) in the midwest since graduating; and I also did a lot of work (paid and volunteer) in elementary schools as a student.
My end-goal is to become the head of a major consulting company's non-profit sector (a partner), or the head of a major non-profit foundation. I think that a good place to start my career would be McKinsey's philanthropy practice (a part of their social sector). The question is, how should I go about getting started there?
I'm thinking that I should either #1) Start working for the best foundation that I can - get an MBA from the best school that I can (majoring in non-profit management or something similar) - and try to get hired at McKinsey as an associate...or...#2) get a PhD from the best school that I can (specializing in non-profit management or something similar) - and try to get hired at McKinsey as an expert.
I'd really like to hear from some experienced consultants on what might be the best course of action here. Any advice would be greatly, greatly appreciated.
Thank you very much in advance!
*p.s. - I should add that I'm not at all opposed to becoming a college professor and doing some non-profit consulting/sitting on some non-profit boards on the side.
Hey buddy.... this is a forum
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.
Strategy Everything.
Thanks, I shortened up the
Thanks, I shortened up the post a little bit.
^the guy above you is being a
^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
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
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.
Life, liberty and the pursuit of Starwood Points
Options 1) Go work for
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
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)?
bo schembechler
...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)?
Pay is the same...in some firms you can even choose a non-partner track position (e.g. be a career principal doing non-profit work)
At most consulting firms
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.
Don't get a PhD in nonprofit
Don't get a PhD in nonprofit management, that's just insane (I've never heard of such a program, and if you want to be respected in that space you should just go out and work for/start a nonprofit). Besides, getting hired as a McKinsey expert is sort of on an as-needed basis, and it's impossible if you're not both well-credentialed and an expert in an area of need (elite management consulting firms do not hire dedicated experts in management). If you go the advanced degree track, get a top MBA, but it doesn't need to be in nonprofit management.
I can confirm that none of MBB hire you directly into any kind of nonprofit role. Bain's Bridgespan and similar places might hire directly, but they prefer prior (MBB) consulting experience.
McKinsey's social sector office is apparently phenomenal. But they only draw from the generalist pool, and because they do such cool stuff, working with them is more of a perk than anything else (everyone wants these projects). So if you end up there, you'll have to rock out on your first couple of projects if you want to end up on a social sector engagement.
Oh yeah, as for the college professor thing: let's be realistic here. It's fine to dream big, but if you want some good advice on this board, stick to things that are realistically on the table. I'll be honest: for you, MBB is a stretch in the short run and the medium run; if that's really what you want, you need to be working towards a top MBA right now. The first thing that that involves is finding something better than lumber company office manager.
One of those lights, slightly brighter than the rest, will be my wingtip passing over.
Hmm...so it sounds like my
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.
I think you have some serious
I think you have some serious misunderstandings about how MBB work, what their value proposition is for junior-level workers, and why the people who work there are there.
Demand to work on a social sector case exceeds the supply of those cases. Therefore, at least until a more senior level, they're divided up among analysts/associates, at least as I understand it.
Second, MBB can employ junior-level staff not because they're experts in auto plants or feeding orphans, but because they're smart and adaptable to new challenges.
Third, if all my colleagues and I cared about was making money, we would've started in IB or jumped to PE/HF by now.
With your interests and qualifications, why not go work for a consulting firm that specializes in non-profit/social sector? You might not get the biggest clients, but you won't have to do the private-sector stuff that it sounds like you don't care about.
Life, liberty and the pursuit of Starwood Points
What exactly is your motive?
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
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.
oops, double-post.
Yes, I think that unless you
Life, liberty and the pursuit of Starwood Points
MBB does not hire people
One of those lights, slightly brighter than the rest, will be my wingtip passing over.
petergibbons - could you
It was a valid question. If
Just wanted to clarify my pro
One of those lights, slightly brighter than the rest, will be my wingtip passing over.
abacab/2x2 matrix - i get
Khara 3alekon wrote: Hey
bo schembechler wrote: i'm
One of those lights, slightly brighter than the rest, will be my wingtip passing over.