Getting in at McKinsey

[CaptainJack02]

I'm interested in internship for McKinsey during the summer between MS1/MS2. Any ideas on how to get your foot in the door when you don't have a degree from a top school? It's pretty obvious that they take the best from the top schools, but how to do it when you're at a lower ranked school? They have their guys and gals working on some VERY cool projects, and I want in!

Pls advise.

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[ortho-mdmba]

I'm interested in internship for McKinsey during the summer between MS1/MS2. Any ideas on how to get your foot in the door when you don't have a degree from a top school? It's pretty obvious that they take the best from the top schools, but how to do it when you're at a lower ranked school? They have their guys and gals working on some VERY cool projects, and I want in!

Pls advise.

The Good News: You don't need an MD degree from a top school to work at McKinsey. That said, I don't know where your school falls. They WILL ask for your MCAT (maybe, your SATs and other tests) scores as they have docs that know how to evaluate this. I am confident that if you applied online and they like your profile they will contact you regardless of school. Top consulting firms are not really relationship based companies thus knowing someone won't really help ya. Banking is the opposite way.

The Bad News: Timing. Most business internships are set up to give highly qualified (usually harder to get internships in consulting companies than to get full-time positions) individuals a glimpse into the company in order the start full-time the following year. You being between MS1 and MS2 year with 3 years before you can, conceivably, commit full-time makes this extremely difficult. Internships are seen as a short-term investment. If you were between MS3 and 4, it would be a completely different story.

Hope this helps.

 

[modemduck]

The Good News: You don't need an MD degree from a top school to work at McKinsey. That said, I don't know where your school falls. They WILL ask for your MCAT (maybe, your SATs and other tests) scores as they have docs that know how to evaluate this. I am confident that if you applied online and they like your profile they will contact you regardless of school. Top consulting firms are not really relationship based companies thus knowing someone won't really help ya. Banking is the opposite way.

The Bad News: Timing. Most business internships are set up to give highly qualified (usually harder to get internships in consulting companies than to get full-time positions) individuals a glimpse into the company in order the start full-time the following year. You being between MS1 and MS2 year with 3 years before you can, conceivably, commit full-time makes this extremely difficult. Internships are seen as a short-term investment. If you were between MS3 and 4, it would be a completely different story.

Hope this helps.

Hi,
We had a presentation from McKinsey at our school a few months ago and they said that they started the MD's out at the "associate" level. How much does that translate into for compensation per year and what is the lifestyle like? What sort of other consulting positions have you all heard about right after getting an MD?

 

[Primate]

Consultants and Engagement Managers are both considered "associates." It's the same level as an MBA starting. Salaries vary widely by firm. Top 3 probably will pay ~120-130 your first year plus benies/bonus, but that's speculation on my part. Typical raises are from "you're fired" to 25% (top performers).

Travel Monday through Thursday, Friday in the office (worst case, with the exception of an international study which could leave you with less time at home during that study). VERY few weekends the first 2 years. Few in the office after that, either, but more work at home (email/phone/etc. from home). Demanding, but not "on call" (unless you're doing a private equity deal - they can be brutal). Same hours as many residencies, just slightly more predictable. Like many residencies, you gotta be pretty dang sure you like it before you sign up or you'll be ridden hard and put away wet.

P

 

[rgarg3]

Like residency, except the pay is better....

rgarg

Consultants and Engagement Managers are both considered "associates." It's the same level as an MBA starting. Salaries vary widely by firm. Top 3 probably will pay ~120-130 your first year plus benies/bonus, but that's speculation on my part. Typical raises are from "you're fired" to 25% (top performers).

Travel Monday through Thursday, Friday in the office (worst case, with the exception of an international study which could leave you with less time at home during that study). VERY few weekends the first 2 years. Few in the office after that, either, but more work at home (email/phone/etc. from home). Demanding, but not "on call" (unless you're doing a private equity deal - they can be brutal). Same hours as many residencies, just slightly more predictable. Like many residencies, you gotta be pretty dang sure you like it before you sign up or you'll be ridden hard and put away wet.

P

 

[modemduck]

Like residency, except the pay is better....
rgarg

one of my friends told me that lehman can start you at 275k, is that true? if so are they working you like 100 hrs a week?

i am honestly pretty tempted to go consult for a few years (my debt is sky high) ... see if i like it and then come back to medicine if i don't. has anyone had any experience w/this?

 

[Primate]

No personal experience, but I know of 3 people from Penn who've gone into consulting for 3-4 years and come back to do residencies (EM, Psych and I don't know the other one). Can be done, but I know none of them thought they were going to come back. Think hard before you jump, as some doors may close behind you.

P

 

[dr_pepper]

one of my friends told me that lehman can start you at 275k, is that true? if so are they working you like 100 hrs a week?

i am honestly pretty tempted to go consult for a few years (my debt is sky high) ... see if i like it and then come back to medicine if i don't. has anyone had any experience w/this?

Start off at 275? Probably not, unless you've got some incredible previous experience. First year associates are going to make around 60K and graduating MBAs will pull in about 120K.