| Topic Name: |
McKinsey in decline? |
| Message Name: |
Here is some more data points... |
| Date Posted: |
12/24/2005 |
| In Reply To: |
These numbers are by no means convincing. In the fall, the fast majority of consultants start and by the winter of the following year (after bonuses) the vast majority of consultants leave the firm that are planning on leaving that year. So comparing fall to winter (or early 2005) is apples to oranges. I would guess McKinsey hires ~20% of their total numbers each year which means roughly 1000 were hired in 2005 (most in the fall). So the numbers you presented would show less than 10% growth, significantly less. And this is world wide, I have heard McKinsey is fairing a bit worse in the U.S., especially on the west coast where Bain has been growing quite rapidly (>10% for several years now). In fact, I have seen numbers showing Bain is larger than McKinsey on the west coast (as measured by revenue). I can't comment on the rest of the country though...
But as was stated before, McKinsey is obviously still a prestigious place to work but has been struggling relative to it's past performance. |
| Message: |
2003 Vault's McKinsey Info:
Total 11000 employed (~5500 consultants)
2003 Yahoo Finances McKinsey Info:
Total of 11500 employed (~5500 consultants)
http://finance.yahoo.com/search?type=&s=mckinsey&r=
March 2004 (could be data from 2003 but used in 2004?) McKinsey Recruiting Material:
Total consultants 5700, 83 offices
Fall 2005 McKinsey Recruiting Material:
Total consultants 6800, 83 offices
If data for Vault and Yahoo were 2003 spring data, and then number of consultants would have increased to ~6600 in the fall of 2003. In that case, the growth from 2003 to 2005 is 3%. However, in this analysis we are assuming that all of the attrition happens after year -end bonus in 2002.
If data for the Vault and Yahoo were 2003 fall data, then the growth of the Firm is 23% a year (5500 -> 6800). This analysis assumes that no attritions happen during the fall.
In both cases, the Firm is growing and the number of new offices opened is ~0 (Don't know exactly when Philly office opened)
My point in the original post was to illustrate that the "consulting mags" claim of McK headcounts falling and the Firm being diluted by opening of new offices is bogus.
---
Responce to noname007:
I'm an McK offeree for one of the Northeast Asia offices. I would like to hear your take on the question you asked me. I would imagine that the qualities you mentioned (leadership, empathy, development of other firm members, etc.) are qualities required to be elected partner at the Firm.
|
|
