| Topic Name: |
McKinsey in decline? |
| Message Name: |
Avg at HBS is not avg in Corp America |
| Date Posted: |
01/31/2006 |
| In Reply To: |
Thank you for your post. You put my idea in better words than I could. I fully agree that when a firm recruits 10 % of a class or a profession recruits 25% of a class, it just cannot be recruiting only "the best and the brightest".
One interesting statistic is the percentage of graduates from the MBA programme at Harvard that joined McKinsey. Over 30 years, it has gone from approximately 4 percent to around 10 - 12 %. Assuming that "the best and the brightest" are typically the top 1-2%, you can draw your own conclusions.
Traditional consulting firms are no longer recruiting just "the best and the brightest" and, conversely, the "best and the brightest" no longer feel attracted to firms that recruit so many "average students" |
| Message: |
Some comments:
HBS and Stanford are top MBA schools in the world with acceptance rate in the range of ~10%. HBS has the highest McK offer rate of all b-schools at around 10%. The product ~.10 and ~.10 is around 1%. This is 1% from prospective HBS MBA applicants (~6000) who thought they had a chance of acceptance--obviously, application process is not a stroll through a park.
If you look at 2nd tier MBA schools, Duke/Cornell/Michigan, total number of McK offers drops down to single digits PER class, compared to HBS?? ~100 offers per year.
Just to set the record straight, less than 10% of Stanford MBA grads went to M/B/B in 2000 (according to previous post by marty_k: 20 for Mck, 6 for BCG, 6 for Bain, out of class of ~350+)
As far as PE/VC shops being more competitive, no arguments here. Blackstone??s PE group has 60 professionals total WorldWide, including 16 managing partners. So instead of top 1%, firms like Blackstone probably interview top .1%, who are conveniently differentiated by GPAs between 3.7 and 3.9. (Who knew that B+ in marketing could make such a big difference in your career : )
Calling_marvin, I think you would agree that informal surveys are sometimes unreliable. The phenomena of recent brain drain due to b&b migrating to 1) Tech companies 2) Financial-Banking 3) Entrepreneurship is moot as illustrated by Stanford data showing the industry placement trends have been essentially been the same for the past 8 years.
From the little knowledge that I have, PE/VC and mgmt consulting are very different careers. One cannot just assume that all b&b will opt for PE/VC, simply because it??ll pay more. Astute applicants will obviously make his/her determination based the long term career goals and his/her professional interests.
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