McKinsey & Company is one of the ‘Big Three’ management consulting companies (along with Boston Consulting Group and Bain & Company). Based in New York City, with 104 offices in more than 50 countries worldwide, it covers a wide range of industries, including oil and gas, private equity, aerospace and defense, communications, and retail.
McKinsey is a dream company for many business graduates and MBA students alike, with thousands applying for smaller positions each year. McKinsey also employs several people on several business school campuses, including Harvard Business School and the MIT Sloan School of Management. While McKinsey’s work has put you in an excellent position to negotiate with management, it is also one of the most difficult companies to find.
What should I consider before applying?
Keep reading to find our top tips to help you get your first consultation role. McKinsey is known as the first major consulting firm to hire employees right from college. … “We have traditionally hired a large number of business students or MBA students,” said Storhaug. And increasingly, the company is hiring people with master’s degrees, he adds.
If you are applying as an undergraduate or non-MBA owner, you will enter the company at the Business Analyst level. With higher degrees, you can join the Associated level, which is the second-highest climbing ladder. If you join the company as an undergraduate, you are expected to earn an MBA after two years, which is usually paid by McKinsey if you agree to work for it for two years after graduation. Before you apply, make sure you are committed and able to continue the McKinsey employee’s lifestyle. This means longer hours (very early and late at night), more travel, more time with colleagues, and higher stakes, high-pressure work.
To get a head start on the application process, do not underestimate the power of communication. See if there are any alumni in your business school hired by McKinsey, and see if you can have an informative conversation or informal conversation with them about the company (they can put you in a good name in the hiring process, or teach you about it). Your university career should be able to connect you with the right alumni – and not limit your network of graduates.
No matter where you come from, McKinsey looks for the same qualities in all of his candidates. It depends on the three attributes, Brian explains. They look for problem-solving skills, the ability to work well in teams, and the ability to develop strong relationships. McKinsey’s hiring process is notorious for its complexity. … It does not hide what it wants in a resume: clear evidence of problem-solving, success, personal impact, and leadership. This is a good start if you are trying to hire McKinsey.
What should I include in my application?
It is not enough to just have an MBA in high school business, you have to be the best to be hired by McKinsey. Highlight all of your important achievements, such as the exams you passed in class, the clubs or communities in which you participated most, or the summer internships you participated in. You need to be able to show that you have the qualities that McKinsey values.
3 things you need to focus on to get a job at McKinsey
McKinsey is looking for employees who take an organized approach to problem-solving, as in the workplace you will use a lot of practice work. Reliability: This can be evidenced by past internships or work experience – McKinsey’s previous internship is fine but other Fortune 500 companies are also good.
Even a non-business-related experience where you have had to undertake a rigorous selection process, such as Teach America or Teach First (UK), is compelling. Details: This includes not only high school honors (honors) degrees, but also any prestigious bursaries, industry awards, or prestigious awards. If you have trouble thinking about anything, McKinsey may not be the right place for you. Your work will be global, so you need to prove that you are committed to working globally and with overseas teams.
Work experience away from your home country in an international company is a good example of this, as is the case with foreign trade or study programs abroad. Speaking more than one language can also be very helpful as it increases the range of cases you can take. Special work experience is appreciated, as McKinsey has both a regular track and a professional title track. McKinsey is more open to hiring people from non-traditional business backgrounds than other top management consulting companies – about 50 percent of McKinsey professionals do not have business qualifications. Logistics, HR, production, and marketing of popular special tracks.
Make sure your resume is well-designed and simple: basic black and white text, no funny fonts, and not too far away (about one page in the US, and up to two elsewhere). Employers will want to see concrete examples of what you have achieved in simple terms, so avoid long sentences and instead stick to past actions (such as ‘integrated’, ‘analyzed’, and ‘done’) to describe your previous feeling. McKinsey reportedly receives more than a million applications a year and employs less than 1% of them.
The top 3 consulting firms are among the top ten employers in the world and it is very difficult to get a job. McKinsey is looking for employees who take an organized approach to problem-solving, as in the workplace you will use a lot of practice work. Reliability: This can be evidenced by past internships or work experience – McKinsey’s previous internship is fine but other Fortune 500 companies are also good. Employees with knowledge of McKinsey are candidates with at least two years of experience in full-time positions, especially those who use non-consulting tracks or sometimes traditional consulting positions.
How do I manage the interview process?
The multi-step negotiation process is difficult, but at every stage, you will get a better idea of what McKinsey experts can do to help you determine if the job can be a good fit. Prepare for a Problem Solving Test (PST), which is in the first phase of the interview process. PST is a 26-word quantitative questionnaire and an hourly business idea to complete. The test is very difficult and is intended to separate the wheat from the chaff, so be sure to do a few practice tests and maybe even consider getting an instructor. McKinsey offers practice tests on his website.
The McKinsey Business Analyst interview process is as follows:
When you join McKinsey as a Junior Associate, you are joining a company that will challenge you and invests in your professional development. In this role, you will work on the best teams to help the world’s leading organizations – in the private, public, and social sectors – solve their most difficult problems. First Cycle PST and one / two group discussions and/or one-screen phone screen. Second Round One / two one-case interviews, about five minutes’ ‘eligibility’ interview (to see how you can get into the company based on your previous experience).
The third round Two one-on-one interviews for about 15 minutes for a valid interview and one deep-dive fit interview. Make sure you prepare well for appropriate discussions such as litigation. This is where most people tend to slip as they get busy with litigation negotiations. You have to practice cases when preparing for your interview, especially if your coping skills are rusty – you can find exemplary scenarios on McKinsey’s website. It is a good idea to practice word-of-mouth handling, that is, to talk about what you are doing out loud, as this is how you are expected to resolve a case in an interview.
At McKinsey, the salary of entry-level analysts (Analysts) ranges from $ 90,000 to $ 110,000 per year, while the number of experienced MBA-level / Associates may increase to $ 233,000. Participation Managers typically earn about $ 250,000, while Partners and directors can earn up to $ 1,300,000. MBAs at McKinsey & Co., one of the world’s most respected employers, told TransparentCareer they work an average of 72 hours a week.
At Boston Consulting Group, 63 hours per week, while in Bain & Co., the average is 58 hours per week. Being hired by McKinsey is not easy, and their long negotiation process can seem daunting. However, if you are a born winner who gains whatever you put your mind to, a proven problem solver with a history of good leadership, there is nothing to lose by applying for a job with one of the leading directors, firms in the world.
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