| Topic Name: |
MCKINSEY POWER |
| Message Name: |
Why? Why, indeed |
| Date Posted: |
01/04/2000 |
| In Reply To: |
As I understood it, most first year consultants won't make 60...while that is easily achieved as an analyst...
I understand that I-bankers will work more, but isn't there a HUGE salary difference for post-MBA consultants vs. I bankers??? I read associates at Mck can expect to make 125 w/ bonus...while at G&S, an assoc. should make that the first half of the year... |
| Message: |
First, the money is okay at McKinsey, but most everyone choosing McKinsey will have had another offer worth more money. New Associates starting in '99 were paid $100k/year by the end of 1999. Signing bonus was $15k with a $10k kicker if you were a summer associate.
If one decides to stay with the Firm, the average McKinsey director makes $3M/year, although it's a function of profitability. Starting directors are closer to $1.5.
Still, the real reason to go to McKinsey. The signal. McKinsey is a fantastic signal that companies really value and that instills a certain option value.
That option value is quite large to those who aren't sure what they want to do.
It's also quite large for those who have a goal and are able to work their McKinsey staffing to give them experience along the lines of that goal.
However, McKinsey becomes rather worthless if your staffing doesn't align well with your professional goals. For example, if you want to do e-commerce and find yourself being staffed on major upstream oil companies.
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