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Each of these consultants, Tampa Bay Lightning Map Never Underestimate A Hockey Women Shirt some at the principal and engagement manager level and more at the associate and business analyst level typically have very high utilization rates Much of their billings finds its way into the compensation of partners and directors. 4. The consulting staff referred to in item 3 have high multiples applied to their base salaries. In the private sector, these multiples may be as high as 5 to 1 or, for the lowest staff, 6 to 1. In the public sector, the multiples may be more like 3.5 or 3 to 1. A lot of money is generated by the staff under each partner, and much of it goes into partner or director compensation. The multiples for partner and director salaries are typically not as high, but still enough to add to partner and director compensation. 5. The billing rates may also cover other compensation items, such as retirement contributions, which especially for partners and directors, can be very significant. 6. The billing multiples also reflect other fringe benefits and perks of the partners and directors, such as generous health insurance and use of automobiles. Note: I’ve been retired for 9 years and away from the large consulting firm scene for longer than that. While I believe the overall thrust of the above is on target, I don’t commit to the complete accuracy of the examples. There is no universal answer to this question as each management consulting firm has its own dress code policy. However, it is generally expected that consultants will dress professionally in business attire, which for women may include wearing a suit. The dress code at Mckinsey & Company is business casual. However, the dress code will differ when on a Client site. We often adopt the same attire as that of our clients when onsite. I went to a school in the US and now I am an MBB consultant in a developing country office. I don’t know much about how working in a developed country vs. in a developing country is perceived, but I can talk about how the experience of working in a developing country is different from working in a developed country. Of course, there can be many personal reasons (e.g. family, friends) for choosing one over the other. Still, from what I see, the work experience tangibly differs in three dimensions: Then the interview process – typically a minimum of 6 interviews, 2 at a time, with at least the first 4 having a case challenge. Here, you need to: Join a professional networking organization. Make sure they are a fit. Find one that the owner or organizer is not trying to sale you something else or get you to join their business. I’ve worked for BCG in the SF office and have at least 70+ friends who have worked for or are currently working for Bain, BCG & McKinsey. Overall, I think the overall quality of the people at three firms and the work each does is equal. That said, each has a 1) slightly different reputation 2) different size and 3) some unique strengths. (and the different types of cases) here. But the one key thing I’ll pull out from that is a “By the numbers” comparison of MBB: 2. Higher fixed pay than the market (the variable pay, however, is much lower than the market. Increments in the same position are genuinely bad.) Overall, you might make equal or more in a Big 4 than in McKinsey Implementation. Plus you would have significantly greater responsibilities and client exposure in a Big 4 than in McKinsey Implementation. McKinsey Implementation in India is a poor choice for professionals from tier 1 MBA schools with good career progress in their previous organization. MI India started with folks from McKinsey’s Knowledge Centre who are from tier 3 institutes. Sometime back, some Senior Partner had the bright idea of hiring professionals from tier 1 MBA schools who had done well in their professional tracks till they chose to join MI. This was not fully thought out as can be seen from the number of such professionals exiting the firm as quickly as they joined it. Internally, among the top management, there is a tug of war happening between those who think MI is a pool of cheap resources and those who think MI can be something more. Unfortunately, it is the former thought process (pool of cheap resources and nothing more) which is winning. MI India is ideal for tier 3 MBA folks who would be dazzled by the McKinsey name and stick on doing whatever work comes their way. It is also great for folks in industry who are desperate for a changeover to consulting. For others, especially for folks with pedigreed education, it is a strict no-go. MI is a pool of relatvely cheap labour used to do tasks leftover by generalists. Your experience and expertise before joining means nothing in MI India as you would compete with or work under less experienced generalists who would hog all the good work for themselves or their brethren and give you some leftovers to chew on. Besides, the firm has enough money to throw at external experts to bring in the required expertise. So, the generalists would do the “pages” (slides) and internal or external experts would provide the meat. You would be left wondering what is your value add to the entire process . In addition, many generalists seem to think laterals don’t fit into the firm culture (have actually overheard people talk this way). The firm’s technique of offering a bump in starting pay followed by a plateau in increments and bonus is not a standard practice in India – perhaps it may be standard in advanced economies. You would be drawn by the higher fixed salary but be prepared for a shock when the variable pay comes in. And the increments within the same band are pathetic = only promotions would lead to a halfway decent increment. You would not have any bosses within the firm – the closest one finds to a boss in McKinsey is a sponsor. Usually laterals do not have a sponsor when they come in and it becomes a fight to get a sponsor. Without a powerful sponsor in the system, it is difficult to get staffed and eventually you’ll be asked to leave. The firm does a lot of work in financial services, auto and pharma (in India). Rest of the sectors are covered opportunistically and there is no long term commitment to any sector. Don’t be surprised if the firm decides to completely stop working in the sector they hired you for. The firm keeps changing its priorities often and as a lateral MI India resource, you might not be given many chances to change along with the firm. Whenever, as an MI resource, you strive for something more, you would be cut down with the smoke and mirrors of “learn the McKinsey toolkit first.” Forget leading proposals or thought leadership pieces – the generalists (even if they don’t know the subject) will be leading them and you’ll be playing second fiddle. Do not think that you can come in as an MI person and then switch to an Expert or Generalist track. There is a strict policy of not moving MI folks to any other tracks lest the entire vertical makes a beeline for such an move. Finally, your experience here might not move the needle much in terms of your career progression because both within and outside the firm, MI people are not given the same respect or designations as generalists. You would find yourself explaining to headhunters and potential future employers what an “Implementation Coach” or “Senior Implementation Coach” is and why you would add as much if not more value than the less weirdly named generalist designations. Laterals are not in your leadership pipeline (despite mentioning Implementation is a partnership track, one doesn’t see Implementation partners in India office and 50% of partners globally who identify as “Implementation partners” are actually generalists who changed track. Sure, you may have well intentioned plans of making an MI partner in INO but it looks like a vanishingly small percentage of people make Partner in MI – a funnel much tighter than the generalists. It’s akin to making liveable wages out of selling direct selling products – perhaps 0.0001% of their salespeople achieve this while the vast majority barely make ends meet.) “Partnership” should not be a selling point when trying to hire laterals.
It’s nice to virtue signal and say the firm is flat and a free labour market etc.

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