How much does a McKinsey Engagement cost?

A typical strategy case costs between $500,000 and $1,250,000. This variance is driven by the premium the firm is able to command (e.g., McKinsey will usually charge more than say, LEK, because of the premium their brand commands), the length of the case and the number of consultants required to do the work.

How much does a McKinsey consultant cost per day?

The daily rate for a McKinsey associate partner working as engagement director ranges from $10,000 to more than $13,000, ahead of a McKinsey engagement manager’s daily rate of $9000 to $10,000 and the firm’s consultants (associate/business analyst) rate of between $660 to about $5500.

How much do companies pay McKinsey?

At McKinsey, the salary for entry-level consultants (Analysts) ranges from $90,000 to $110,000 per year, while the figure for MBA-level/experienced Associates can go up to $233,000. Engagement Managers typically earn around $250,000, while Partners and Directors can earn up to $1,300,000.

Who pays more McKinsey or BCG?

BCG boasts a performance bonus of up to $45,000, making it the more lucrative of the two for first year hires. Typically, McKinsey sets the standard for salary, and beats BCG to the punch in increasing salary rates.

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Is working for McKinsey worth it?

Ongoing Mentorship and Training. Ongoing mentorship and training at McKinsey make the firm a great place to work. McKinsey places a great emphasis on continual learning and improvement for all employees. Mentorship programs – both formal and informal – provide excellent opportunities to learn.

What is a good hourly rate for consulting?

Management consultants charge between $100 to $350 per hour. UX consultants charge between $25 to $190 per hour, with $70 being the average.

How much does McKinsey charge per week?

Hiring McKinsey is a famously expensive proposition, even when compared with its leading competitors. A single junior consultant — typically a recent college or business school graduate — runs clients $67,500 per week, or $3.5 million annually. For $160,000 per week, you get two consultants, the second one mid-level.

Is it hard to get a job at McKinsey?

McKinsey reportedly receives more than a million applications per year and hires less than 1% of them. The Top 3 consulting firms are among the ten most selective employers in the world and it is notoriously difficult to receive a job offer.

How many hours a week do McKinsey consultants work?

Generally speaking though, it was usually a 60-70 hour working week.

Will McKinsey pay for MBA?

One more perk: McKinsey pays 50% of MBA tuition for returning interns according to Management Consulted. That’s not to say you won’t find inventive recruiting strategies outside the MBB. Deloitte’s Strategy & Operations practice reimburses second year MBA tuition for returning interns – as does ZS Associates.

Why is McKinsey a bad reputation?

McKinsey’s reputation has taken a hit in recent years.

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Beyond the opioid crisis, the firm has been criticized for some high-profile missteps: … In 2019, McKinsey paid $15 million to settle a Justice Department investigation into its failure to disclose potential conflicts of interest in its corporate bankruptcy practice.

Why is McKinsey prestigious?

Within MBB firms, McKinsey is the most prestigious and well-known, both inside and outside the industry. This is the result of their early and continuing success in maintaining extremely high standards in recruitment and project deliverables.

Is McKinsey better than Deloitte?

Deloitte scored higher in 1 area: Work-life balance. McKinsey & Company scored higher in 8 areas: Overall Rating, Career Opportunities, Compensation & Benefits, Senior Management, Culture & Values, CEO Approval, % Recommend to a friend and Positive Business Outlook.

How hard is McKinsey interview?

For instance, according to former McKinsey managing director Dominic Barton, the firm receives about 200,000 applications from interested candidates, but only about 2,200 of them get hired. In other words, anyone applying to the firm only has a 1% chance of getting hired.

How hard is McKinsey?

Today Glassdoor released its annual list of the 25 most difficult companies to interview with, based on 80,000 interview ratings and reviews shared throughout the past year. Consulting firm McKinsey & Company tops the list, with a 3.9 difficulty rating (based on a 5.0 scale).

How much does an engagement manager at McKinsey make?

How much does a Engagement Manager at McKinsey & Company make? The typical McKinsey & Company Engagement Manager salary is $188,899 per year. Engagement Manager salaries at McKinsey & Company can range from $77,219 – $295,958 per year.

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