|Company Description: McKinsey & Company, a Top 3 management consulting firm.
Job Title: Partner.
Years in industry: 4 (after 10 years in investment banking).
Education: M.S. in economics, MBA
Hours per week: about 4 days of 10 hours per week (plus one day teaching MBA students).
Entry level salary: Entry level package at McKinsey for associate consultants is about $160K. For partner, no salary, 100% performance based.
1. How did you get your first job in this field?
Applied to McKinsey and other strategy consultancies in London upon graduation from the MBA.
2. How do most people break into this field nowadays?
By standard application. Only a few candidates with deep topical expertise are headhunted.
3. What is a typical career path in this field? How often are there advancement opportunities? Is most advancement within or across organizations?
2-3 years as analyst after undergraduate studies (any field) typically followed by MBA and offer to return upon graduation,
2-3 years as associate consultant after MBA or strong industry experience,
4-6 years as manager and senior manager,
5-10 years as junior partner.
This is the typical career path for the 10% of the associate who become partners. The other 90% join middle management position in the industry.
4. What do people in your field look for in a candidate? (Skills, personal qualities, etc.)
1) Strong analytical and problem-solving skills. 2)Strong communication skills. 3) Strong project and team management skills. 4) Leadership.
5. What personal qualities are necessary for someone in your job to thrive?
Intellectual excellence, structure, flexibility, curiosity, energy, ethics.
6. What advice do you have for someone with a bachelor's degree looking to enter this field? What about someone with a master's or doctoral degree?
For all: at least 2 months of full time preparation to case studies.
7. Are there any books, journals, web sites, resources, associations, etc. that someone looking to break into your field should be aware of?
8. What do you like best about your job?
At McKinsey (large consulting firm), learning curve and outstanding colleagues. At Candesic (small consulting firm co-founded by author), lifestyle and freedom.
9. What do you like least about your job?
At McKinsey, being an employee. At Candesic, having to fight every day to get revenue.
10. What is your typical day like?
Either spend all the day at the client (9:00am to 9:00 pm in London or add transport if abroad).
08:30-10:00 catch up on emails at home while playing with kids
10:15 arrive at the office
10:15-13:00 phone calls to clients, prospects, team, colleagues, etc; writing documents (proposals or consulting charts)
13:00-14:00 lunch with colleagues or client
14:00-16:00 conference call or working meeting with colleagues 16:00-17:00 recruiting interview of consultant candidate willing to join Candesic
17:00-19:00 writing documents (proposals or consulting charts) 19:00-20:00 administration work (invoicing, accounting, recruitment database, marketing material, office management)
20:15 arrive at home
23:00-24:00 administration work, catching up on emails, writing documentsRead the full article on the blog.