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    Hi,

    I am looking into where to apply next year, I was wondering why so many people rank mckinsey so as the best.

    For example what have they actually done, I mean I have seen the vault tables, but I can't seem to find any evidence of them being the best....

    If anyone could enlighten me that would be excellent
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    (Original post by amo1)
    Hi,

    I am looking into where to apply next year, I was wondering why so many people rank mckinsey so as the best.

    For example what have they actually done, I mean I have seen the vault tables, but I can't seem to find any evidence of them being the best....

    If anyone could enlighten me that would be excellent
    It's a mixture of clients, specific projects, and the research that they've delivered. This has added up to an awful lot of prestige over the years.
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    (Original post by love2learn)
    It's a mixture of clients, specific projects, and the research that they've delivered. This has added up to an awful lot of prestige over the years.
    A lot of it is ********, to be honest. On the whole, it's a fairly risk free business, reputationally speaking (well, in a lot of other ways too); you make a good recommendation and you're a hero, your stuff doesn't work out and it was management's poor execution. From what I can understand of it, the "prestige" has really accrued because of this. I guess philosophically I hold about 0 respect for those that claim 'prestige' without putting a single penny where their mouth is. People like McKinsey, other consultants and sell side analysts, for example. Otherwise, if you're looking for a top name on your CV that is universally respected, it's a great move. From what I've heard, it's also a fast track into an Ivy League business school (although getting a job in order to get a degree always seemed a bit silly to me...).
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    (Original post by CityMonkey)
    A lot of it is ********, to be honest. On the whole, it's a fairly risk free business, reputationally speaking (well, in a lot of other ways too); you make a good recommendation and you're a hero, your stuff doesn't work out and it was management's poor execution. From what I can understand of it, the "prestige" has really accrued because of this. I guess philosophically I hold about 0 respect for those that claim 'prestige' without putting a single penny where their mouth is. People like McKinsey, other consultants and sell side analysts, for example. Otherwise, if you're looking for a top name on your CV that is universally respected, it's a great move. From what I've heard, it's also a fast track into an Ivy League business school (although getting a job in order to get a degree always seemed a bit silly to me...).
    Agreed

    It's got an element of everyone thinks they're good > they get the most interesting cases > everyone thinks they're good. It's self perpetuating really. I don't like the fact that they apply the same methodologies to everyone and have set ways of doing things. They also have a reputation for stating the obvious. The other prestige issue is that a lot of the work that the top strat houses do is shrouded in mystery, so you don't specifically know everyone they actually work with. They're certainly impressive, with a wide scope - everything from due diligence to advising Blair on his cabinet shuffle (rumoured) a few years back. But whether it's actually that cut above or just best known is hard to say.

    I have a feeling that their fees are secret too
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    They once told a company that their new motor cycle brand will fail miserably. The company still decided to launch the brand.

    Today, it's the largest selling bike in India, and amongst the largest selling in the emerging markets of Asia and Latin America.

    I'm not against consulting but I'd rather be doing financal models over and over and over again than be using a 2x2 matrix to judge everything.
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    In the 80s they produced a report for AT&T or some other telecoms company that mobile phones would never take off.
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    Genius. One of the management consultants also made the bright suggestion that during a recession firms should cut back on managment consultants.
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    (Original post by love2learn)
    Genius. One of the management consultants also made the bright suggestion that during a recession firms should cut back on managment consultants.
    That was very selfless and generous of him
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    (Original post by MaxMaxMax)
    That was very selfless and generous of him
    LOL:yep:
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    (Original post by it_waaz_me)
    They once told a company that their new motor cycle brand will fail miserably. The company still decided to launch the brand.

    Today, it's the largest selling bike in India, and amongst the largest selling in the emerging markets of Asia and Latin America.

    I'm not against consulting but I'd rather be doing financal models over and over and over again than be using a 2x2 matrix to judge everything.
    In the 80s they produced a report for AT&T or some other telecoms company that mobile phones would never take off.
    Both of these posts are besides the point; the key question is not whether they get it right or wrong (which they do on both counts), but their 'prestige' is massively eroded away, atleast for me, when compared to some maverick who will make a bet on this view with his own cash and reputation. That's the difference between Steve Jobs (who incidentally holds all these consultancies in disdain, yet runs the most respected company, arguably, in the world) and Joe Bloggs, partner at McKinsey & Co. The claim to a consultant's "prestige" is just a big falsehood, as far as I'm concerned.
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    Ok, you dopes have no idea what McKinsey does - the amount of absolutely amazing work the company produces is absolutely beyond me - I'd work with them again anytime - some of the most clever people I have met in the city.
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    (Original post by rboogie)
    Ok, you dopes have no idea what McKinsey does - the amount of absolutely amazing work the company produces is absolutely beyond me - I'd work with them again anytime - some of the most clever people I have met in the city.
    Considering you don't work there then, given that you want to, must mean you ain't one of them?
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    (Original post by CityMonkey)
    Considering you don't work there then, given that you want to, must mean you ain't one of them?
    Work with them meaning we are a client. And we were very happy with the outcome.

    Hence, would work with them again.
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    (Original post by rboogie)
    Work with them meaning we are a client. And we were very happy with the outcome.

    Hence, would work with them again.
    Confirmed.
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    (Original post by CityMonkey)
    . That's the difference between Steve Jobs (who incidentally holds all these consultancies in disdain, yet runs the most respected company, arguably, in the world) and Joe Bloggs, partner at McKinsey & Co. The claim to a consultant's "prestige" is just a big falsehood, as far as I'm concerned.
    False...not even arguable....
    Try running GE or exxon






    Mckinsey....pretty impressive *******. Infact MBBS are quite good and most importantly useful for the clients.



    (Original post by love2learn)
    .It's got an element of everyone thinks they're good > they get the most interesting cases > everyone thinks they're good. It's self perpetuating really. I don't like the fact that they apply the same methodologies to everyone and have set ways of doing things.
    agreed
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    (Original post by sithlord)
    False...not even arguable....
    Try running GE or exxon
    http://money.cnn.com/magazines/fortu...008/index.html

    It's all subjective, but you're about a year out given the reasonable barometer of Fortune magazine's ranking.

    ETA: I expect GE to fall further given capital raising/GE Capital losses.
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    (Original post by CityMonkey)
    http://money.cnn.com/magazines/fortu...008/index.html

    It's all subjective, but you're about a year out given the reasonable barometer of Fortune magazine's ranking.

    ETA: I expect GE to fall further given capital raising/GE Capital losses.
    true.

    But its America. They love the smell of their own ****.
    Companies like Shell...absent
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    (Original post by rboogie)
    Ok, you dopes have no idea what McKinsey does - the amount of absolutely amazing work the company produces is absolutely beyond me - I'd work with them again anytime - some of the most clever people I have met in the city.
    But is it better than say BCG or Bain could produce?


    I agree about the people - the depth and breadth that they're able to cover is fantastic, and they'll think of things that you wouldn't even have considered.
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    (Original post by love2learn)
    I agree about the people - the depth and breadth that they're able to cover is fantastic, and they'll think of things that you wouldn't even have considered.
    I.e. doing their job.

    Q:What is so great about McK?
    A: The same thing that is great about GS - they are both at the top of their game.
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    (Original post by uthinkilltellu)
    I.e. doing their job.

    Q:What is so great about McK?
    A: The same thing that is great about GS - they are both at the top of their game.
    1 - hard to explain but they kind of go further

    2 - but with GS you can look at a league table, M&A fees, trading profit, research rankings, deal flow - the point is that there isn't this for McK so how can you actually say that they are at the top? (I'm not disputing this btw, I just think it's interesting because it's hard to actually prove).
 
 
 
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