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THE “MYTH” ABOUT MCKINSEY MANAGEMENT CONSULTING

THE “MYTH” ABOUT MCKINSEY

McKinsey management consulting company, Boston Consulting Group and Bain are the big 3 in the consulting industry. It job simply helps organisations at the high level of management in order to improve their performance. For example, McKinsey could consult a CEO of one company who wants to enter the new market. The task of an entry level consultant primarily go through the analysis of existing organisational problems and develop plans for improvement.

McKinsey Management consulting culture is a gold standard. McKinsey is recognised as a gold standard across all industries from technology to large established corporates. This is the reason why people hiring McKinsey is the safest to ensure the consistency and high-quality work. There are some key points to help them maintain it leadership and make them stand out. To maintain its leadership in the industry it must embrace the change and quickly adapt to the changing landscape. The first thing about McKinsey is they always keep its McKinsey Quarterly magazine with high-quality research. Secondly, they spend highest on information and research. To keep in touch with the people in the industry, more than 26,000 alumni network. Also, they invested in the consulting boom in India to keep the human intelligence as the core weapon. So on and so forth.

A high-performing consultant should perform top-down and structure belongs that they also have some transferable skills. The main work of consultant can be divided into three tasks which are gathered, create and present. The top-down and structure characteristics should embrace the whole tasks which make the work more professional and consistent. Let’s take an example, a consultant meet a CEO in the lift and they just simply have a chat about the CEO problem. With this presentation style, the consultant will quickly tap to the main point of the problem and engage the CEO in his brief solution. Besides, a high-performing should have transferable skills such as effective communication skills, data analysis skills and one more component is not less important which is love to travel.

Consulting is prestigious. No doubt, everything has its reason. The consulting firms pay you a high salary compared to any company when you just step out of the university. The McKinsey will pay you up to $90,000 for a year. But why? It is reasonable that paying for a high profile academic person is deserved.

However, why most consultants leave the company after two years? Shall we come back to the reason why they want to be a consultant in a prestigious company? They would like to build their profile for future professional work. That is not it. Everyone has their own dream. To work and go up to higher hierarchy, a consultant needs to work their finger to the bone. So that, they prefer leaving the firm in order to live with their own dream. After all, consultants and consulting firms are both worthy to invest in each other.

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