| Topic Name: |
McKinsey in decline? |
| Message Name: |
Exactly |
| Date Posted: |
01/31/2006 |
| In Reply To: |
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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| Message: |
Good point, euc.
Don't assume that the higest priority of the "best and brightest" is to make the most money early in one's career, or to get the most selective job.
While PE/Hedge funds may be more selective and pay more early on, they aren't a good choice for someone who wants to be CEO of a Fortune 500 company one day. Many of the best & brightest have long-term goals not of making the most money, but of making the biggest impact on the world or the economy. If you want to become a CEO, then consulting is far better training for business leadership than hedge funds.
Just because a company/industry hires fewer students doesn't mean they're hiring the best. There are plenty of business schools that take fewer students than Harvard. That doesn't mean the students are better. The 10% of Harvard's class going into consulting may include many in the top 1%.
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