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The Wetfeet Insider Guide to Mckinsey & Company ̸» É»¬Ú»»¬ ײ•·¼»® Ù«·¼» ¬± Ó½Õ·²•»§ ú ݱ³°¿²§ 2004 Edition Ø»´°·²¹§±« ³¿µ» •³¿®¬»® ½¿®»»® ¼»½·•·±²•ò Printed with FinePrint - purchase at www.fineprint.com ̸» É»¬Ú»»¬ λ•»¿®½¸ Ó»¬¸±¼±´±¹§ You hold in your hands a copy ofthe best-quality research available for job seekers.We have designed this Insider Guide to save you time doing your job research and to provide highly accurate information written precisely for the needs ofthe job-seeking public.(We also hope that youll enjoy reading it,because,believe it or not,the job search doesnt have to be a pain in the neck.) Each WetFeet Insider Guide represents hundreds ofhours ofcareful research and writing.We start with a review ofthe public information available.(Our writers are also experts in reading between the lines.) We augment this information with dozens ofin-depth interviews ofpeople who actually work for each company or industry we cover.And,although we keep the identity of the rank-and-file employees anonymous to encourage candor,we also interview the companys recruiting staffextensively,to make sure that we give you,the reader,accurate information about recruiting,process,compensation,hiring targets,and so on.(WetFeet retains all editorial control ofthe product.) We also regularly survey our members and customers to learn about their experiences in the recruiting process.Finally,each Insider Guide goes through an editorial review and fact-checking process to make sure that the information and writing live up to our exacting standards before it goes out the door. Are we perfect? No-but we do believe that youll find our content to be the highest-quality content ofits type available on the Web or in print.(Please see our guarantee below.) We also are eager to hear about your experiences on the recruiting front and your feedback (both positive and negative) about our products and our process.Thank you for your interest. ̸» É»¬Ú»»¬ Ù«¿®¿²¬»» Youve got enough to worry about with your job search.So,ifyou dont like this Insider Guide, send it back within 30 days ofpurchase and well refund your money.Call us for details or e-mail us comments at 1-800-926-4JOB or [email protected]. Printed with FinePrint - purchase at www.fineprint.com ̸» É»¬Ú»»¬ ײ•·¼»® Ù«·¼» ¬± Ó½Õ·²•»§ ú ݱ³°¿²§ 2004 Edition Ø»´°·²¹ §±« ³¿µ» •³¿®¬»® ½¿®»»® ¼»½·•·±²•ò Printed with FinePrint - purchase at www.fineprint.com É»¬Ú»»¬ ײ½ò 609 Mission Street Suite 400 San Francisco,CA 94105 Phone:(415) 284-7900 or 1-800-926-4JOB Fax:(415) 284-7910 E-mail:[email protected] Website: www.wetfeet.com ̸» É»¬Ú»»¬ ײ•·¼»® Ù«·¼» ¬± Ó½Õ·²•»§ ú ݱ³°¿²§ ISBN:1-58207-260-4 Photocopying Is Prohibited Copyright 2003 WetFeet,Inc.All rights reserved.This publication is protected by the copyright laws ofthe United States ofAmerica.No copying in any form is permitted.It may not be reproduced,distributed,stored in a retrieval system,or transmitted in any form or by any means,in part or in whole,without the express written permission ofWetFeet,Inc. ݱ°§®·¹¸¬ îððí É»¬Ú»»¬ôײ½ò Printed with FinePrint - purchase at www.fineprint.com Ì¿¾´» ±º ݱ²¬»²¬• Ó½Õ·²•»§ ú ݱò ¿¬ ¿ Ù´¿²½»ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ï ̸» Ú·®³ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ë Overview. 6 The Bottom Line. 10 Competitive Strategy. 11 Industry Position. 11 A Quick History Lesson. 14 Organization ofthe Firm. 15 Recent Client List. 18 Typical Studies. 20 Whats Hot. 21 Ѳ ¬¸» Ö±¾ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò îë Business Analysts. 26 Associates. 28 ̸» ɱ®µ°´¿½»ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò íï Lifestyle and Hours. 32 Culture. 33 Workplace Diversity. 36 ݱ°§®·¹¸¬ îððí É»¬Ú»»¬ôײ½ò Printed with FinePrint - purchase at www.fineprint.com Civic Involvement. 38 Travel. 38 Compensation and Vacations. 39 Other Perks. 40 Career Path. 41 International Opportunities. 45 Training. 46 Insider Scoop. 48 Ù»¬¬·²¹ Ø·®»¼ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ëí The Recruiting Process. 54 On-the-Record Recruiter Interview. 56 The Interviewers Checklist. 60 Interviewing Tips. 61 Grilling Your Interviewer. 63 Ú±® DZ«® λº»®»²½»ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò ò êë Recommended Reading. 66 For Further Study. 69 The Numbers. 71 Et Cetera. 72 ݱ°§®·¹¸¬ îððí É»¬Ú»»¬ôײ½ò Printed with FinePrint - purchase at www.fineprint.com ß ¬ ¿ Ù ´ ¿ ² ½ Ó½Õ·²•»§ ú ݱò߬ ¿ Ù´¿²½» » Ø»¿¼¯«¿®¬»®• McKinsey & Co. 55 East 52nd Street New York,NY 10022 Phone:212-446-7000 Fax:212-446-7200 Website: www.mckinsey.com Õ»§ Ü·ºº»®»²¬·¿¬·²¹ Ú¿½¬±®• Seen (and sees itself) as the worlds most successful and influential management consulting firm Famous for its strong network and strong culturetheres definitely a McKinsey way to do things Focuses primarily on strategy and operations work and boasts ofworking primarily with clients top management ײ ¬¸» λ½®«·¬»®Ž• ɱ®¼• Getting a job at McKinsey isnt about crafting the perfect resume.Honors, promotions,test scores,and other academic achievements are meaningful,but they dont mean everything.We look for people who value excellence and are always working to achieve it. You must be exceptional in some way to move forward. ײ ¬¸» ײ¬»®ª·»© McKinsey is looking for people who are willing to challenge conventional wisdom.Dont kowtow to your interviewer,even when questions are aggressive. McKinsey weighs a candidates leadership credentials heavily.Be prepared to describe in detail an experience where you took a leadership role,including all responsibilities you handled and any challenges you faced. ݱ°§®·¹¸¬ îððí É»¬Ú»»¬ôײ½ò 1 Printed with FinePrint - purchase at www.fineprint.com » ½ ² ¿ ´ Ù ¿ ¬ ß Practice your case studies.McKinsey wants to see your problem-solving ability in action.Work out your case-question bugs in practice sessions before the interview. ɸ¿¬ ײ•·¼»®• Í¿§ I have a lot ofautonomy in being able to define what I want my career to be and how to play it out.I also like McKinseys commitment to personal and professional development. Clients dont bring us easy problems.There are no easy problems here.... There are no easy wins. Theres so much flexibility in terms ofwhat I could do with my time that the challenge is figuring out what the right path is.Its not a well-defined do A,B, and C. I have to decide what I want to do,convince people that what Im doing makes sense,and find the resources to do it. Everyone believes that the people here are top quality.Theres the assumption that everyone here is your equal.There arent a lot ofpeople here who are considered dead weight,which is exciting. Its an intense job,and it doesnt really let up.This level ofintensity over an extended period oftime can get difficult. ̸» Ý¿®»»® Ô¿¼¼»® College graduates enter as business analysts. MBAs and other advanced-degree hires enter as associates. л®•±²²»´ Ø·¹¸´·¹¸¬•ôîððí Ò«³¾»® ±º °®±º»••·±²¿´•ô©±®´¼©·¼»æâéôððð Ò«³¾»® ±º °®±º»••·±²¿´•ôËòÍòæâîôððð 2 ݱ°§®·¹¸¬ îððí É»¬Ú»»¬ôײ½ò Printed with FinePrint - purchase at www.fineprint.com ß ¬ ¿ Ù ´ ¿ ² ½ » Û•¬·³¿¬»¼ Ù´±¾¿´ Ø·®»•ôîððîŠðíö ˲¼»®¹®¿¼ ¸·®»•íðð ÓÞß ¸·®»•íëð Í«³³»® ÓÞß ¸·®»•íëð Û¨°»®·»²½»¼ ¸·®»•ëðð öÓ½Õ·²•»§ ¼±»• ²±¬ ®»´»¿•» ¸¿®¼ ²«³¾»®•ô¾«¬ ¬¸» ·²•·¼» ¼·®¬ ·• ¬¸¿¬ ¬¸» ²«³¾»® ±º ²»© ¸·®»• ·² ¬¸» îððîŠðí •»¿•±² ¿®» ¿¾±«¬ ¬¸» •¿³» ¿• ¬¸» °®»ª·±«• §»¿®‰¬¸¿¬ ·•ôº¿® º»©»® ¬¸¿² ·² ¬¸» ¹±´¼»² ¼¿§• ¿¬ ¬¸» ¬«®² ±º ¬¸» ½»²¬«®§ò̸» ±ºº·½·¿´ ·²•·¼» ©±®¼ ·• ¬¸¿¬ ¬¸»§ »¨°»½¬ ¿ •·¹²·º·½¿²¬ «°¬·½µ ·² ¸·®·²¹ º±® îððíŠðìô¾«¬ ¬¸¿¬ ·• ¾¿•»¼ ±² ±°¬·³·•¬·½ °®±¶»½¬·±²• º±® ¬¸» »½±²±³§ ¿²¼ ¼»³¿²¼ º±® Ó½Õ·²•»§Ž• •»®ª·½»•òײ ±¬¸»® ©±®¼•ô©»Ž´´ ¶«•¬ ¸¿ª» ¬± •»»ò Û•¬·³¿¬»¼ ËòÍò ݱ³°»²•¿¬·±²ôîððîŠðí ͬ¿®¬·²¹ •¿´¿®§ô«²¼»®¹®¿¼¢üëëôððð õ °®±º·¬ •¸¿®·²¹ ͬ¿®¬·²¹ •¿´¿®§ôÓÞß•üïëðôððð ·² º·®•¬ º«´´ §»¿® Ò±¬»æÍ·¹²·²¹ ¾±²«•»• ³¿§ ²±¬ ¾» ±ºº»®»¼ ¬¸·• §»¿®òÙ®¿¼ •½¸±±´ º·²¿²½·²¹ ·• ²±© ±ºº»®»¼ ±²´§ ¬± ¿••±½·¿¬»• ¿•µ»¼ ¬± •¬¿§ ±²òͱ«®½»æÉ»¬Ú»»¬ ®»•»¿®½¸ò ݱ°§®·¹¸¬ îððí É»¬Ú»»¬ôײ½ò 3 Printed with FinePrint - purchase at www.fineprint.com Printed with FinePrint - purchase at www.fineprint.com Ì Ì¸» Ú·®³ ¸ » Ú · ® ³ ¡ Ѫ»®ª·»© ¡ ̸» Þ±¬¬±³ Ô·²» ¡ ݱ³°»¬·¬·ª» ͬ®¿¬»¹§ ¡ ײ¼«•¬®§ б•·¬·±² ¡ ß Ï«·½µ Ø·•¬±®§ Ô»••±² ¡ Ñ®¹¿²·¦¿¬·±² ±º ¬¸» Ú·®³ ¡ λ½»²¬ Ý´·»²¬ Ô·•¬ ¡ ̧°·½¿´ ͬ«¼·»• ¡ ɸ¿¬Ž• ر¬ ݱ°§®·¹¸¬ îððí É»¬Ú»»¬ôײ½ò 5 Printed with FinePrint - purchase at www.fineprint.com Ѫ»®ª·»© ³ These are not the best oftimes for the management consulting industry,nor ® · Ú are they necessarily the worst oftimes.McKinsey & Company,however,is » ¸ Ì arguably the best ofmanagement consulting firms.In any case,a position with McKinsey is the most sought-after job in the world.In fact,MBAs have placed a spot at The Firm (as it is affectionately called) at the top oftheir wish lists for the past seven years running (according to www.universum.se).And a coveted position at McKinsey will certainly not be easy to get. With nearly 7,000 consultants and 80 offices (plus 20 Business Technology Offices) in 22 countries,McKinsey is not the worlds largest consulting firm, but it is certainly the most prestigious and influential.And founder Marvin Bower wouldnt have had it any other way.Bower,who passed on this year just shy ofhis 100th birthday,imbued McKinsey with his own principles,which valued intellectual quality over a lust for profits and explosive growth.How true McKinsey has remained to these principles in recent years may be the subject ofsome debate.The firms pristine image has been tarnished by intimate associations with notorious failures like Enron and WorldCom.And a period of over-expansion during the bubble years has found the firm looking a bit bloated and in the rare position ofhaving to aggressively cut costs.The storied spare-no-expense retreats and lavish lifestyle have given way to a slightly more monastic culture.Yet those who can cut the mustard and survive McKinseys unblinking up-or-out dictum will still find themselves handsomely rewarded.
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