Former McKinsey manager, taking questions
Glad to talk about my role at McKinsey or the case interview process - post your questions
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Thanks for doing this!
I am an undergraduate student from a non-target school. What are some specific things I can do to show interest and positively impact my chances of a first round interview?
1) Is the art and skill of consulting something that can be developed through practice and determination or more of a natural talent possessed by some and not others. In other words, how can one tell if consulting is something he or she could potentially be good at? 2) What was your favorite case and why?
What is the attrition rate upward from new hiring to Manager at McK and other tier 1 firms?
I have a three part question:
Thanks for taking the time. I just have one question about interviewing:
How has the interview process for university-hires changed in recent years? In general, is McKinsey sticking to the same case formats they have in the past (Mkt entry, profit decline, M&A, etc) or are there new formats not commonly documented yet? I have heard of some firms incorporating iPads, and other out-there tactics. Is that something an interviewee could expect to see?
How can firms like McKinsey and BCG justify charging corporations to come in as an outsider and claim to know how to make their business better? Does a management consultant really bring added value?
what's your background (schools, internships, first jobs, etc.)
thoughts on the BB in MBB?
why'd you leave?
what're you doing now?
Interview advice for older APD candidates who are making a career switch?
Hey all, is there a way to respond in the original post?
If not I'll respond in comments.
"What are some specific things I can do to show interest and positively impact my chances of a first round interview?"
This is tough. I can give great advice on how to do well in interviews, but getting a first round interview from a non-target school, don't know what to tell ya.
You can get referred by a current McKinsey firm member or a McKinsey alumni, but even that's no guarantee.
I referred a friend who was a baller at a PE firm (went to a very good undergrad too, but not quite Ivy) and they wouldn't even give the guy an interview.
best way to do this is to hit reply, which is the left facing arrow. that way the person posing the question will get an alert in their inbox so that they know you answered the question.
as an aside, I'm butthurt you didn't answer my questions :(
Thanks bro.
1 - My background is state school undergrad, state school MBA, bullshit NYC public interest job between the two, and McK was my first legit private sector job.
2 - I think 2 somewhat contradicting things at the same time: (1) McKinsey is significantly better in that, for the same price, clients would pick McKinsey over BCG or Bain 99% of the time (we charge a lot more than them) and McKinsey offers way more opportunities to its consultants based on size, reputation, and client reach, and (2) Bain and BCG are awesome, incredible firms that will offer alums similar opportunities. I would have been thrilled to work at Bain or BCG (didn't apply to either).
3 - I had no path to becoming an AP that didn't involve dramatically changing my program and working insane hours/doing business development for 2 years combined with the AP position wasn't appealing to me. You really switch into the full-time BD role as soon as you leave EM.
4- Venture capital role
This is still very helpful!
Since you mentioned it, I have to ask: do you have any great advice on how to do well in interviews?
At some point, say the phrase:
"My hypothesis is X. To prove or disprove it, I want to look at A, B, and C. A seems the most relevant so let's start there"
Bam. Offer.
1) Is the art and skill of consulting something that can be developed through practice and determination or more of a natural talent possessed by some and not others. In other words, how can one tell if consulting is something he or she could potentially be good at? 2) What was your favorite case and why?
1- Do you like cases? Are you good at them? Then you'll probably like consulting. Best proxy there is.
2- Favorite case- I actually wrote a few cases when I was at McKinsey and loved those (of course). When I was interviewing I still remember one case about how to make the HR training process more efficient for a corporation. Sounds boring but it was actually pretty interesting, you had to figure out what was a bottleneck in the process.
"What is the attrition rate upward from new hiring to Manager at McK and other tier 1 firms?"
I only know McKinsey. Rule of thumb is 50% of associates make EM, and of the 50% that don't, half leave on their own accord and half are counseled to leave.
Changes based on office and timing. Right now the firm is so busy that there's probably less turnover than normal (fewer people are asked to leave).
"I have a three part question:
Dude I worked at McKinsey for 3 years and I don't know what digital consulting is. Is that appearing at clients via video conference? Consulting for tech companies? I've never heard that phrase before.
"Thanks for taking the time. I just have one question about interviewing:
How has the interview process for university-hires changed in recent years? In general, is McKinsey sticking to the same case formats they have in the past (Mkt entry, profit decline, M&A, etc) or are there new formats not commonly documented yet? I have heard of some firms incorporating iPads, and other out-there tactics. Is that something an interviewee could expect to see?"
Great Q. For context I interviewed at McKinsey in 2009, was a summer associate in 2010, and started in 2011.
So from 2009 until early '14 when I left, I didn't see any big changes. Same format of 1/2 of the interview being about your own experiences working in a team or as a leader, and 1/2 on the case.
The cases change every year but the overall structure has remained pretty similar.
As far as iPad cases/something novel, we might be piloting that but we don't do it wide scale yet. A year or two ago McKinsey did some "behavioral interviews" for a few people but I never had one.
I'd say 95%+ chance your interview is the standard experience + case. Of the 200 interviews I did for McK I never did anything different.
Thank you for your reply! I am looking forward to your other post about the failed interview, and how to approach the petting zoo problem.
For reference: http://www.wallstreetoasis.com/forums/what-not-to-do-in-a-mckinsey-case…
"How can firms like McKinsey and BCG justify charging corporations to come in as an outsider and claim to know how to make their business better? Does a management consultant really bring added value?"
I'm sure there's plenty of times when McK et. al. don't add value, don't live up to what they promised. I saw it on a few of my studies.
But for most of my projects clients were overall happy and thought they got their moneys worth.
Best counter point to the "McK's a waste of money!" is very smart clients keep paying.
If McK and peers weren't worth it, clients wouldn't pay. Vast majority of clients are repeat clients.
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