Bain AC vs McKinsey Digital BA Offers

Hey all, I’m considering two MBB offers for same location in Europe. Have been working in LA for past 2 years in tech startups after college. Also considering an MBA in future probably back in US. Would like to keep my options open but have a keen interest in VCs and FAANG (internal strategy or PM) exit opps. The offers are:
1. Associate Consultant at Bain - generalist
2. Business Analyst within Mckinsey’s Digital practice area - approximately half of cases are digital related and half from the generalist project pool. I am told you learn the same toolkit as generalist BAs with the same training, promotions etc.

This is what I’ve been considering so far as the pros and cons of each:

Bain Pros:
1. 100 % generalist model allowing me to try more industries/functions outside of digital
2. More supportive and stronger community culture

Bain Cons:
1. Bains digital practice is less established and does not do digital business build type projects
2. Less control on staffing and smaller number of projects (due to scale) concerns me that it is harder to work in industries / projects I am interested in. Local staffing making it harder to do projects internationally.

McKinsey Pros:
1. Have priority in selecting digital projects (which include McKinsey Leap where McKinsey builds and scales new digital business within a corporation - thinking this type of work might be helpful for VC / FAANG PM exits?)
2. Self staffing - perhaps this leads to a greater say into which projects I do? - I am keen to also do traditional corporate strategy projects in TMT practice as well as due diligence work
3. Global staffing model with greater number of international project opportunities
4. As a fast growing area, being aligned to Digital may lead to faster promotions and having a more in-demand skillset?

McKinsey Cons:
1. Digital has some less interesting work e.g. core IT modernisation
2. More corporate culture
3. Concerned about perception of McKinsey Digital BAs internally - is it harder to get on non-digital projects (e.g. corporate strategy) due to this?

Would love to hear your thoughts on this (some of my assumptions probably aren't true) and what option might be better suited to the exit opps?

 

I think your Pros and Cons for Bain are absolutely correct, and your Pros for McKinsey sound correct as well. To summarize, Bain has less technology work and also doesn't give you as much choice into doing technology work due to their forced generalist model.

I'll address your Cons for McKinsey too:

  1. "Digital has some less interesting work." Yes, there are a lot of very cool digital projects as you listed under pros, but also some boring ones. Generalists also have some cool projects, and some boring ones. This is natural. The thing that makes McKinsey so great is that you can turn down the boring projects. Trust me, what's boring to you will be interesting to some other people. Thus, I wouldn't weight this too heavily.
  2. "More corporate culture." It's certainly not an overly formal place or anything, but you're right that it is more corporate, relative to Bain. Whether this is good or bad depends on your own preferences. People at McKinsey certainly are stil supportive, kind, and helpful though so don't think otherwise.
  3. "Internal perception of Digital." Not really sure where your thoughts here are coming from. Digital is not viewed even slightly differently internally. That's why 50% of Digital BA projects are from the generalist pool. As you suggested, Digital is actually one of the strongest and fastest growing segments of the firm (around half of all McKinsey projects are now involving Digital, which is absurd). Nobody thinks of Digital BA's as better or worse than regular BA's, and few even know the distinction since it's not a meaningful one. A Digital BA is just more interested in technology on average, so it gives you a community of similar people in that sense. You can do 0% of your work in Digital, or 100% though. There isn't an actual limit. You have all the flexibility and choice of a generalist, but you get first preference for the Digital cases and join a community of people interested in technology. There is literally no downside. If you're wondering about how it's marketed externally, nobody asks or cares if you're a Digital BA when you leave the firm (partially because nobody knows to, but also because nobody cares since it's the exact same). Digital positions at McKinsey like Agile Coach and stuff are a tier below the Consulting positions, but Digital BA is 100% just as prestigious, selective, competitive, and well-regarded internally as Generalist BA's! This is also why the application for Digital BA's is the EXACT same as for Generalists, and your cases aren't focused just on technology (mine personally had no technology). You're expected to do the same work as generalists around 50% of the time, and you can make it 100%, but your choosing to be in Digital just means you're INTERESTED in technology. Bottom line: it's not a meanintful distinction and should not be a factor in your decision. Was amused to see your assumptions about it though haha

For someone interested in tech, I would pick McKinsey hands down. They have way more technology work, you can choose to focus on techology projects since you don't have to be a generalis, and the alumni network in technology is meaningfully stronger (in part because it's way bigger, but also Bain is PE-focused so they have far fewer tech exits proportionally speaking anyway).

Of course, don't forget to consider the culture and where you'll be happy as well. As much as McKinsey may align better professionally for you, these benefits are not big enough to be worth your happiness.

 

Great, thanks for the detailed reply!! Really appreciate your help and this has definitely cleared a few things up and made me realised some of the perceptions I had heard from others previously were exaggerated haha

Just a couple of follow-up questions: 1. Do you see many venture capital exits from McKinsey Digital? 2. From your experience, do you still find it easy to get variety and breadth in projects at McKinsey, particularly in non-Digital projects? How difficult is it for a BA to experience a wide range of industries and functions (corporate strategy, due diligence etc) if they wanted to or does the networking based staffing model result in BAs working on projects with the same project leadership in similar industries/functions (hence limiting breadth).

Thanks!

 

Of course. I'll clarify that I'm not currently at the firm, but here's my understanding and I hope it still applies with what you're looking for:

  1. At the BA level, it's not that common to be honest (certainly not unheard of though). This isn't really a function of McKinsey or McKinsey Digital - most VC's (at least at the top firms) are hiring people who have worked at startups before, so your Goldman bankers and MBB consultants aren't as desired. There are still many firms that will hire consultants, but it's not that common for people only 2-3 years out of school. This might also just be a matter of interest, as most VC firms that do hire people out of MBB/GS/etc. are focused pretty intensely on sourcing/cold-calling as the main role. Therefore there is likely less desire to work at these places.

  2. Yes, your experience with trying to get on those cases shouldn't be very different from a generalist's experience. Some people do find partners they like working with and keep sticking on cases with them. You can do that too, whether it's a generalist or digital partner. There isn't a digital case quota or something. At McKinsey more generally speaking, you shouldn't have issues in terms of experiencing a wide range of industries and functions if you want to. The firm is big enough that there's always a lot of opportunities, and it's not like partners are all just using the same teams for every case.

 

Congrats on the two offers, and tough choice.

I think you have given this a lot of good thought already, and you have been provided with a lot of good info as well. One thing that I'd like to add, is: look at where the people of the office exit towards and where their network is.

If you want to go back to the US for VC/FAANG, it may be different. I'm located in Western Europe, and have exited to VC. Thus cannot speak about FAANG, but the PE/VC market in my country is not large. I think there are a lot fewer from the 'other' MBB in PE/VC in my country at least.

 

Thanks for your insight! I'll definitely follow your advice and look into where people have been exiting towards. Could you please elaborate on which of Bain or McKinsey you were referring to when you mentioned the firm which has the highest VC (or PE) exits in your country?

Thanks!

 

Good points have been made. I would also add that both firms will allow you to do commercial due diligence work, which is a valuable experience to have for VC (rather late stage than early, but still). Bain has a slight edge in the field, but McK does a really good job here as well.

 

what did you decide? also curious on this discussion--- is there even any downside on choosing digital BA over generalist BA if you have total discretion over what project split you want (e.g. can do 0% or 100% in digital)?

 

No there is literally only upside. It's not really a relevant distinction, most people who join digital do it for the community of people also interested in tech. It has no negative effects but there aren't really many major benefits either tbh, other than a few things here and there.

I wouldn't worry about it if you're not interested in tech, and it's an easy choice to say yes to if you are.

 

Thanks for the help-- from a "social" perspective is there any difference in training, your BA class at the office, stuff like that? Also, would you potentially have less access to non-digital partners or is that not be an issue?

 
Most Helpful

For tech (strategy, not implementation), the perception is that Bain is stronger than Mck in the U.S but weaker in Europe due to a heavier focus on luxury retail and PE. However, the difference between firms is extremely minimal compared to the difference in your work satisfaction. If you fit better at firm A, you will likely do better work and get access to better opportunities (or be up for fast promotions). Those factors impact your potential exit options way more than firm to firm differences. All in all, go with the firm that you feel you will be happier at. Comparing between Mck Generalist vs. Digital, I agree with the other comments here that there is no difference. Digital BAs simply specialize faster but even if you change your mind and want to explore a different vertical, there are many opportunities for that within Mck. You are by no means "locked-in" to only digital projects.

 

I’m actually hearing that very frequently from different stakeholders. Bain SF / Silicon Valley is extremely well established in Bay Area tech (for strategy projects)—perhaps similarly to McK NY in Financial Services.

 

Et ratione nihil laborum magnam. Velit quos incidunt ipsa explicabo numquam odio sit. Qui deserunt voluptas omnis debitis nam.

Sapiente et porro unde earum quia sapiente sed possimus. Aut error eum quo. Eaque velit optio cum reiciendis. Molestiae non odio qui dolores. Est et vitae magni nisi commodi sit. Dolore numquam laboriosam perferendis voluptatem temporibus est eum aspernatur. Ut illo nihil nobis iste sit officia. Sunt est nisi aspernatur explicabo earum ea qui debitis.

Error consequatur consequatur ullam dolorem ut mollitia. Voluptatem est quos quia. Vel deleniti non officia id illum.

Id suscipit explicabo nihil qui omnis quia ea. Dolor consectetur rerum iure quos quas eius.

Career Advancement Opportunities

April 2024 Consulting

  • Bain & Company 99.4%
  • McKinsey and Co 98.9%
  • Boston Consulting Group (BCG) 98.3%
  • Oliver Wyman 97.7%
  • LEK Consulting 97.2%

Overall Employee Satisfaction

April 2024 Consulting

  • Bain & Company 99.4%
  • Cornerstone Research 98.9%
  • Boston Consulting Group (BCG) 98.3%
  • McKinsey and Co 97.7%
  • Oliver Wyman 97.2%

Professional Growth Opportunities

April 2024 Consulting

  • Bain & Company 99.4%
  • McKinsey and Co 98.9%
  • Boston Consulting Group (BCG) 98.3%
  • Oliver Wyman 97.7%
  • LEK Consulting 97.2%

Total Avg Compensation

April 2024 Consulting

  • Partner (4) $368
  • Principal (25) $277
  • Director/MD (55) $270
  • Vice President (47) $246
  • Engagement Manager (100) $226
  • Manager (152) $170
  • 2nd Year Associate (158) $140
  • Senior Consultant (331) $130
  • 3rd+ Year Associate (108) $130
  • Consultant (587) $119
  • 1st Year Associate (538) $119
  • NA (15) $119
  • 3rd+ Year Analyst (146) $115
  • Engineer (6) $114
  • 2nd Year Analyst (344) $103
  • Associate Consultant (166) $98
  • 1st Year Analyst (1048) $87
  • Intern/Summer Associate (188) $84
  • Intern/Summer Analyst (552) $67
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
kanon's picture
kanon
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”