Founded in 1926, McKinsey & Company is a “knowledge network” offering business consultation services globally.
Their headquarter is in New York, with 105 offices around the world. They are a premier consultancy organisation and according to New York Times, 80% of the world’s largest corporations seek consultancy from McKinsey. Their expertise spans 8 core business disciplines and 22 global industries.
Their team of knowledge networkers has extensive in-depth understanding of the businesses and industries, helping them to understand needs and respond to the changing dynamics of the market.
The organisation is involved in diagnostic models, benchmarking databases, identifying market opportunities, custom analysis, complex data-intensive business solutions, primary and secondary research, and knowledge management.
In this post, FinanceWalk will review McKinsey Knowledge Center, with primary focus to India.
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Employees Speak: Working at McKinsey Knowledge Center
A major yardstick of a company’s success is how its employees value and perceive it.
Manpower is an essential component of a company’s growth. Keeping this in mind, FinanceWalk shares some perspectives shared by McKinsey employees. The source of these feedbacks lies here.
McKinsey hires interns on a regular basis and all of them have good feedback about the company. The working environment is great and focus is given to learning and skills acquisition.
2) Work Culture
The work culture is positive and fruitful. The senior management staff is communicative and helpful. The working hours are flexible.
Each member of the staff undergoes mock project stimulations, giving them a better idea about handling real-time projects, its initiation and management. This training helps a lot in the long run!
A company grows with strong leadership.
Current and ex-employees of McKinsey had lot to recommend about its leadership quality and policies which really helped in syncing with the brand image and necessities.
We also found some negative comments such as sometimes you’re dissatisfied with the salary package. Sometimes you’ve to put in extra work hours and that disrupts work-life balance. Even though the management is friendly and communicative, the work can get monotonous at times. You can read more reviews here.
Salary & Other Key Stats at McKinsey Knowledge Center
McKinsey typically pays 57% above the prevalent market salary.
Some of the frequently hired positions are:
- Senior Research Analyst
- Research Analyst
- Junior Research Analyst
- IT Analyst
- Business Analyst
- Assistant Manager
- Operations Analyst
In India, popular McKinsey office locations are Bangalore, Mumbai, New Delhi, Gurgaon and Chennai.
McKinsey key stats reveal a gender imbalance. Their staff consists of 27% females and 73% males. The salary between them differs too by a significant margin.
The job satisfaction level is rated high.
Checking data about the ‘years of experience’ reveals a good trend – 39% of the staff is experienced between 1 and 4 years while 35% of the staff has experience between 5 and 9 years. This means sustained growth. McKinsey is not one of those companies people join to gain some experience and leave.
In fact, only 5% of the staff has less than 1 year of experience. McKinsey is the kind of organisation which offers and delivers sustained growth. Lastly, 21% of the staff has more than 10 years of experience.
The education level has a direct impact on the salary scale.
According to available data, people with Master of Business Administration (MBA) in Strategy, Marketing and Finance draw between Rs. 300,000 and Rs. 2,250,000.
Moreover, a Bachelor’s degree won’t fetch you the same package that a Master degree does.
Coming directly to the salary segment, we will share some credible data based on various facets. All the data is self-explanatory. They basically show the average salary distribution.
By: Years of Experience
By: City / Location
By: Job Type
These figures are just benchmarks. It’s not essential you’ll be offered the same package. Everything depends on your education, skills and experience.
McKinsey also offers bonus packages, as given below. Clearly, these are performance bonuses.
Interview Process at McKinsey Knowledge Center
As per the data available to us from Glassdoor.com, the interview at McKinsey is slightly difficult but the overall employee satisfaction level is higher than what we have seen with other similar companies.
There are no fixed round of interviews. Here is a brief of what we could glean from current and ex-employees of McKinsey.
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Round 1: Short-listing
If they are recruiting from campuses, the first round is usually short-listing candidates on the basis of resume.
Round 2: Case Study
Here, a case study is handed over with questions to be solved in a certain period of time. The case study tests your logic and common sense.
Round 3: Technical Interview
Based on the case study performance, an interview with the HR is scheduled. Sometimes the technical interview happens along with. This round tests your concepts and knowledge.
Round 4: Behavioral Questions
It’s mostly a personal round where they check whether you ‘fit’ within the organisation or not. This round can happen in the video-interview format.
Round 5: Personal Interview
Basically, it’s an extension of round 4. Once this concludes, offer letter is handed over.
The round are basic, something which happens during every interview in every company.
Depending on the applied position, ensure you have full knowledge of relevant concepts and technical inputs.
You’re tested on general awareness, technical concepts and problem solving tests. Your conceptual and analytical thinking is tested on various levels. Focus on guesstimate questions.
You should also read this real interview experience.
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