McKinsey is the most cut-throat consulting firm
McKinsey is a ruthless place. I only realized this when I started coaching consultants from other firms. If you’re an experienced hire, you have very little room for mistakes.
McKinsey is the most cut-throat consulting firm, much more ruthless than BCG or Bain.
I didn't know that when I worked there. I only realized that when I started coaching other MBB consultants.
Let me illustrate this with one example.
Imagine a consultant receiving a negative rating.
At McKinsey, it's called a 'Concerns' rating. At BCG and Bain, it's known as a PIP (performance improvement plan).
Here’s the thing.
A ‘Concerns’ rating at McKinsey is virtually a death sentence.
The chance of survival is very low (10–20%).
Why?
Well, the main issue is staffing.
Most partners and managers don’t staff 'Concerns' consultants. Everyone wants to be successful. Staffing struggling consultants reduces their chances.
Then, as a consultant, if you can't get staffed, you can't demonstrate improvements, and you’ll likely get fired within 3 months.
But at BCG and Bain, it’s more humane.
These firms help consultants get staffed by assigning cases and offering hefty discounts to improve their chances. This makes it easier for consultants to survive.
When I worked at McKinsey, this cut-throat environment made a lot of sense. As a survivor of this system, I thought it was only fair. That's how a true meritocracy should work.
But there is one case where it doesn't work well.
If you are an experienced hire, joining McKinsey in your 30s, post-MBA, or post-PHD. You worked really hard to get to this point. Now, you have this amazing opportunity to propel your career to the next level.
But then you start working, and in the first 6 months, in your first performance review, you receive a negative rating.
You simply didn't have enough time to learn and demonstrate your abilities.
That's a very sad situation. You missed such a great career opportunity. Then, it affects your mental health and sets your career back significantly.
Unfortunately, in recent times, I've heard about these cases many times.
That is why I always advise consultants to avoid getting 'Concerns' at all costs. And having an average performance is very risky. Any average case can turn negative very quickly.
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