McKinsey vs. Evercore M&A
Going to keep it simple. Have to make this decision full-time this year.
If I were to do McKinsey, I’d most likely do PE work and be in NYC. However first year comp is low, especially for NYC. On the other hand, Evercore M&A is obviously good comp (don’t know exactly what it is but heard $250k top bucket?) It’s obvious that there’s a level of prestige that McKinsey has, but Evercore is also a better platform for exits into the buyside. I’m also potentially interested in corp dev / strategy work too, really just want to keep options open and explore everything.
I also know McKinsey sponsors an MBA… but how valuable is that even in 2026 and beyond?
I’m extremely undecided right now and obviously both firms are great - so am just trying to really get input from both sides (bankers, consultants, everyone)
I like both types of work, however obviously they are also completely different environments so if someone could shed light on that too!
Given that this is WSO you'll prolly have most people telling u to go Evercore, but honestly I would recommend McKinsey. If you know for sure you want to do PE then go ahead with Evercore, but for pretty much everything else especially strategy-related McKinsey matches or exceeds a top tier bank like Evercore in exit ops. WIth IB especially at an EB, yes you have good exit ops but they almost always lean buyside or finance/corp dev related (with some strategy or Chief of Staff type roles mixed in for coverage bankers within their industry). With McKinsey you have way more optionality
Not sure on the MBA part, but you also really should not prioritize your first-year comp. In the long term the 40k or so less you might get is nonmaterial
also on MBA point- mckinsey is very stingy at giving these out last couple yeras. friend told me they changed it so you need a top bucket rating (basically 5/5) to get it paid for and its very rare to get this rating now
Oh what did they change ? When i left basically anyone mid bucket could get it.
But doesnt surprise me that much , McKinsey had taken a beating… OP you should look into this because top bucket rating at McKinsey is basically impossible, most people get 3/5
I have to agree! Had to make a similar decision 6 years back between McKinsey and IB a top BB. Went with the first and no regrets. For one, it's a fantastic learning/mentorship experience and amazing culture/travel/client opportunities which you would not get in many other places, and is one that is truly memorable. The alumni network is unparalled across geographies. Doors to top PE/VC firms are always open (although you do need to do more to convince on your financial acumen/modelling skills). Lastly, a lot more optionality on anything corporate/startup or strategy related. Not to mention the fully sponsored MBA assuming you return with a direct promote.
Interesting opinion, to be honest, you cannot go wrong with either.
the author of the book Amit Chatwani was actually a consultant though lol
Is McK not 130-150 TC at 55-65 hr weeks?? Probably similar, if not better, comp/hr, even for Top Bucket AN1.
130-140k in nyc is not much at all - and McKinsey globally staffs anyways. If I were to choose mck I would probably choose a lcol location is what I’m thinking now
While I agree with the fact that NYC effective salary deflation is substantial, you can be making 230-250K by Yr 3-4 (3-4 years out of college) which is pretty great regardless of who you ask. The McKinsey brand name is real as well, and you have to factor in that your suffering a case of short-sighted bias (as am I along 98% of this site) assuming that you're a young machine that won't get burnt out of 80-100 hr weeks in IB by Yr 2-3 and that you will actually want to keep working the insane hours years after in PE for a minimal pay increase (for the first few years) because EC will 100% optimize your buy-side exits. If you're a hardo and know for a fact that you want your entire life to be characterized by work, by all means grab your bag and Zegna suit and go all in at Evercore. But if you aren't 100% sure that you will have this same mindset about working the egregious hours in a few years, I'd go McKinsey.
McKinsey definitely has its merits but it sounds like EVR makes it easier to get where you want to go. EVR also has an MBA sponsorship program btw
I was at McKinsey before and if you even think you might do PE or something finance related, it’s evercore by a mile.
People can and do break into PE from McKinsey, but people online far underestimate how hard it is to do
Want to just throw it out there - Evercore covers your MBA under analysts to associate(ie work 2 years and agree to come back as aso for 1 - they comp it). Available to anyone in M&A (assuming they want you as an aso).
Interned at a top EB a few years ago and returned FT. One of my intern class buddies went to MBB and looks like literally the happiest person alive while I’m developing a stimulant problem. I would personally go to McK if I was in your shoes knowing what I know now.
I personally would do Evercore. If banking is 98% bullshit logo aligning job, McKinsey is 100% that with some of the most pretentious assholes you could ever imagine. I’ve never once been impressed by the work produced by them in the multiple engagements I’ve had them as an advisor - their work is riddled with errors that would never have been acceptable in IB. Ex MBB guys don’t know how to do anything but talk in a flowery way and have 0 tangible skills (at least in IB you learn the basics of finance and modeling). Even their excel and ppt skills suck compared to most people in IB.
The exit opp most MBB people are obsessed with is VC because they just want to get to an even higher level of flowery language / self promotion that masks their inability to add any value to anything.
WLB and culture is way better at MBB - they don’t work nearly as hard and it’s a way lower pressure job than IB, despite how much their juniors complain about it. It’s also a great place to learn how to pretend to be knowledgeable about topics you know nothing about. So if you’re optimizing for a near term relatively easier lifestyle then, yeah I’d go with them. But honestly at that point, I’d just recruit for tech instead and get better comp and better skills and actually learn how to do real stuff.
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