A management consulting project usually takes 1 to 6 months, depending on the complexity of the issues being addressed. At McKinsey, the size of a fairly typical engagement team consisted of 1 partner type person, 1 engagement manager, and 2 to 3 business associates or analysts. However, it depended on the project, because if I was doing a short 2-week due diligence project, I didn't have a weekend. It's really interesting to work on those projects because you're spending two weeks on whatever you're doing, but it's not a pace you want to maintain for too long.
However, in general terms, it was normally a 60-70 hour work week. The projects are usually quite short, with a duration of between two weeks and six months. This means that consultants move from one project to another throughout the year, gaining a wealth of experience along the way. In the strategy units of the Big Four and at McKinsey, BCG and Bain, all consultants usually start out as generalists, working in a variety of industries and sectors and specializing only later in their careers.
It's well known that achieving a healthy work-life balance can be a challenge for consultants at McKinsey, BCG, and Bain. The salaries of the big four companies are naturally lower than those of McKinsey, BCG and Bain; a partner in one of the big four companies is likely to earn 30 to 40% less than a partner in one of the three largest companies. All of McKinsey, BCG, and Bain have in-house career centers and job boards where former students can share job opportunities with current consultants. The Big 4's strategic consulting services are those that are most closely aligned with the services of McKinsey, BCG, and Bain.
McKinsey, BCG and Bain, which are among the top three management consulting firms in the world, charge their clients roughly twice as much a day as The Big 4's strategy units. Recruiters can offer additional training sessions with current McKinsey consultants, depending on the candidate. Unlike what happens in many industries, management consultancies tell you exactly how to conduct an interview; the challenge is to achieve McKinsey's level of excellence. At McKinsey, BCG, or Bain, a new consultant could expect to reach this level in about nine years.
There are several similarities between the work that consultants do on the Big Four strategy teams and the work that management consultants do at McKinsey, BCG, and Bain. However, our research on the main routes to McKinsey, BCG and Bain reveals an emerging trend of consultants moving from the Big 4 strategy teams to the best 3.Because McKinsey doesn't want you to leave after six months, when you'll have realized that the consulting lifestyle doesn't fit your goals. Even so, McKinsey & Company may want to see a significant career change as proof that their skills have improved to overcome another series of interviews, such as obtaining a graduate degree, a significant promotion, or working in a top-tier company. So my manager spoke to the customer and explained that it was an internal McKinsey team that had received the email and fixed it for me.
