Comments (13)

Mar 5, 2007

The same thing that's "so cool" about Goldman Sachs. They are at the top of their industry.

Mar 5, 2007

Elitism is sexy and always will be.

The firm is also full of brilliant kids.

Mar 5, 2007
gibranmeng:

The firm is also full of brilliant kids.

That's circular reasoning. The firm is full of brilliant kids because brilliant kids want to work there, and they accept their offers there. Why do they want to, though?

The real answer is that it's a pipeline to senior mgmt jobs. You can also use that experience to possibly get into PE. The top 3 consulting firms also hire tons of kids, unlike, say, corporate strategy at Disney. So lots of kids think they have a chance at getting hired there.

Mar 6, 2007

"what's so cool about McKinsey?"

is that seriously a question? McKinsey is the definition of cool!

Mar 6, 2007

US McKinsey hires a total of ~100 out of undergrad each year

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Mar 6, 2007

I think the Goldman Sachs comparison is accurate:

Not meaning to be corny/circular here; but they attract "the best" b/c they are "the best" and most people want to be considered "the best".

I think the most ambitious, most competitive, brightest people place a lot of value in obtaining such status. Future recruiters/admissions officers recognize this and recognize that the talent of these individuals may or may not be one's saving grace, but it would never raise any eyebrows in a hiring meeting or selection committee.

Therefore, for exit ops/b-school, there may be no golden ticket, but this seems to be the closest thing out there.

Also, pay is not everything and the non-monetary compensation one earns at McKinsey is the best in the business world. Consider it an investment to be used at a latter date and recognize that the business training you will receive is arguably the best in the world.

Mar 6, 2007

Doesn't it suck ass knowing someone your level is making twice as much as you at Goldman Sachs when you are probably just as smart as them?

Mar 5, 2007
bigswingindick:

Doesn't it suck ass knowing someone your level is making twice as much as you at Goldman Sachs when you are probably just as smart as them?

Not so much when you have weekends off.

Mar 7, 2007

ahah...true that

Mar 6, 2007

my $.02:

in 10+ years, when $$$ really matters, the McKinsey person has a good chance to be = to the GS/MS person if they want to get in finance, and they will have other "industry" options not necessarily available to the BB'ers. post-MBA finance options are not "just as good", but are more than adequate and "wow" factor is the same, plus other exit ops abound as well.

Apples to apples, yes $150 k all in at GS is more attractive than $80k (+/-) at McK. The knowledge you gain/tools you learn are different. McK is much more practical business sense and the ability to go to any company and do well. GS is the ability to carry cred. at any finance position. Agreed it is totally different, but not everyone wants banking or thinks its their saving grace.

McK kid could get GS job and vice versa, so def. not knocking GS, but it depends on where you want to be in 10,15,20 years. Making $5mm+ as a corp. fin. MD sounds pretty sweet, but not my interest. Making $1-2 mm running a company that provides tangible products and services while working less, having more stability, and having more family time...that's my interest.

Though I understand $$$ makes the world go round and is the reason people get into IB...McK/Bain/BCG recognize they compete for talent with IB but dont compete with pay. The crowd is self-selecting and by no means any worse of an option, particularly depending on what you want to do.

    • 1
Mar 6, 2007

?

Mar 6, 2007

keep telling yourself that man, then during a downturn you will crawl into your industry position on your hands and knees begging us (me) to hire you.

Maybe not, but seriously, read the line just below where it says my $.02

people act like it matters how much money you make at 22-24. You are going to blow it all anyway. I'm definitely not a pussy, nor i am a whore. I want legit skills that build something useful. On top of that, having been a college football player, I have no undergrad loan/debt to pay and I come from a background where it doesn't really matter to me how much I make this second.

If IB is what you want, go for it and do well. I give you my blessing. Personally, I had opportunities/connections but wanted to actually create value so got M/B/B without any personal contacts. I am going to be trained and taught how to fish (and build a sustainable, efficient fishing empire) where as in IB people are just given a lot of fish and always have to hope (beg) for more.

    • 1
Mar 5, 2007
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