McKinsey & Company Reviews in Australia

Pros

The calibre (technical competence, general intelligence and winning personalities) of other consultants is the highest I have seen anywhere. The projects McKinsey undertakes are almost always of high impact/importance (very little 'dud' work). They have a great performance/people culture; personality and character are highly prized and the Firm does a great job at helping its people thrive. On the odd occasion there is someone who doesn't meet the bar they are gently moved out - I have never seen someone 'fired'.

Cons

Travel away from family. Long hours. Dealing with difficult clients. These are all hallmarks of the industry in general and are not specific to McKinsey. In reality, the kind of people looking for jobs like this are weighing up against investment banking or corporate law or occasionally something else - so when you compare these cons to those professions there is not much between them.

Advice to Senior Management

N/A

Pros

- Colleagues are typically extremely helpful in sharing needed knowledge
- Promotions can be fairly quick and is truly contingent on performance
- Depending on the person you get as your Developmental Growth Leader (DGL), your experience in McKinsey can be significantly affected, as he/she is responsible for presenting your case during review boards, for helping to find opportunities for your staffing, etc.

Cons

- Remuneration is subpar in comparison to other top management consulting firms (e.g. BCG, Bain)
- use of performance reviews to "layoff" employees during downturns

Advice to Senior Management

- Increase transparency and communication to employees
- Be clear and aligned on initiatives, with key visible support from Partners

Pros

It's reputation, exciting projects and the incredible amount of knowledge that gets codified and shared.

Cons

The amount of heirarchy that exists.

Advice to Senior Management

Offer more exciting career path for researchers