When it comes to careers MBAs are likely to land, working for a management consulting firm like tops the list.
McKinsey and Company is one such firm that conducts qualitative and quantitative analysis for companies around the world in order to evaluate management decisions across the public and private sectors.
McKinsey is considered one of the most prestigious management consultancy firms globally and the firm’s clientele includes 80 percent of the world’s largest corporations, along with an extensive list of governments and non-profit organisations.
More current and former Fortune 500 CEOs are actually alumni of McKinsey than of any other company, including Google CEO Sundar Pichai, Facebook COO Sheryl Sandberg and Morgan Stanley CEO James Gorman, among many more.
Will you be the next one?
Why McKinsey & Company Loves to Hire MBAs
McKinsey has always been a top destination for people with MBA degree, and about 50 percent of the firms incoming consultant hires have MBAs.
What does McKinsey look for in its potential hires?
According to the firm’s website, various MBA skills apply directly to a career at McKinsey,
- Problem solving: Developing hypotheses, collecting and analyzing data, drawing conclusions and making recommendations
- Intellectual curiosity: To want to answer questions others haven’t been able to and test solutions others haven’t thought of trying
- Business knowledge: First-hand experience in a particular sector or function, which can be invaluable in solving client problems
MBA graduates get their foot in the McKinsey door as an associate, working either as generalists or practice consultants, depending on their preference and interests. MBA candidates in between their first and second year can also apply for an associate intern position, which is usually a 10-week internship during the summer. Many individuals also choose to join as specialists or experts within groups, such as the Knowledge Network or as part of McKinsey Solutions or other specialized practices or functions.
What Kind of Jobs Can I Get at McKinsey with an MBA?
There are a number of positions you can hold at McKinsey—research & analytics, digital & data services and internal services—but most MBAs come on board as generalist/practice consultants.
According to the the firm, McKinsey consultants deliver innovative thinking and business-changing recommendations to clients, often working in small, flexible teams alongside clients for the duration of a project.
Generalist consultants move fluidly between different industry and functional areas, especially early in their tenure. Practice consultants spend at least 50 percent of their time focused on a particular industry or function.
How Does the Company Engage with MBAs?
McKinsey offers an Emerging Scholars program for MBAs, which is both a scholarship and a networking opportunity.
In the summer, McKinsey looks for pre-MBA students and offers monetary awards for the highest performing applicants. They also offer individual mentorship from McKinsey consultants and an invitation to a celebratory event for the final group of scholars.
Candidates for the scholarship need to be admitted to a full-time MBA program beginning in the fall at one of the 16 participating schools. These include UC Berkeley’s Haas School, Northwestern’s Kellogg School of Management, UCLA Anderson School, Michigan’s Ross School of Business, University of Chicago Booth School of Business), UNC’s Kenan-Flagler Business School, Columbia Business School, NYU Stern School of Business, Cornell’s Johnson Graduate School of Management, the University of Pennsylvania’s Wharton School, Dartmouth’s Tuck School, Stanford Graduate School of Business, Duke’s Fuqua School of Business, UVA’s Darden School of Business, Harvard Business School and Yale School of Management.
The program is limited to students entering full-time programs only. Dual-degree program students are eligible to apply, and McKinsey encourages that they do so the spring before they begin the first year of their MBA program (e.g. MD/MBA, JD/MBA). Those students currently living outside of the U.S. are also welcome to apply.
“McKinsey’s Emerging Scholars program was an invaluable experience. We didn’t just hear about their culture, we experienced it over drinks and dinner. They didn’t show slides touting their high-impact work and renowned problem-solving approach, they let us actually tackle a prior project with McKinsey facilitators,” said Troy, a McKinsey Emerging Scholar from Kellogg. “In the end, you understand why CEOs and prime ministers call McKinsey first, why the best and brightest work there and, most importantly, whether or not the firm (and consulting) is right for you — all before you step foot on campus.”
Why Work at McKinsey?
So why should you want to work at McKinsey? The company has a track record of investing in and providing support and training for all firm members. Consultants benefit from several weeks of training in the first two years, not to mention the fact that coaching and mentorship is an integral part of ongoing development at McKinsey.
Lastly, your career path at McKinsey depends on your interests and goals. You can choose to specialize based on what you learned in graduate school, or you may apply your skills in new areas and broaden your exposure.
Ultimately, you choose to create whatever path you’d like for yourself and how you’d like to grow.
This post has been republished in its entirety from its original source, metromba.com.
