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Starting salary range McKinsey

 
#1 Starting salary range McKinsey
14/02/2004 19:26

Astonished

Hi Everyone. Just successfully wrestled my way through the final round of interviews at one of McKinsey's european offices. Will be starting with an advanced professional degree but no business experience. I was wondering whether anyone could give me any tips concerning salary negotiations: IS there scope for negotiation at present? If so, are both base salary and bonuses negotiable or only the latter? Are there any tips concerning etiquette on this delicate subject and how to approach negotiating on this matter?

Would really appreciate any advice, since I'm not used to this €€€€-minded stuff, having spent the last 10 years in a comfortable university setting!

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#2 McKinsey inerview
15/02/2004 10:34

Abbe_faria

Congratulations on getting through, sorry I can't help with salary negotiations. But I am about to have first round interviews with McKinsey after already having taken their written business test (35 questions in 70mins). Can you tell me what the interviews/case studies will be like? - I have a Phd but no business experience to speak of. Is there also a numeracy test? Any help/advice you can give will be greatly appreciated. Thanks in advance.

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#3 Re: McKinsey interview
15/02/2004 14:42

Still Astonished

Sure,

Obviously, each round consisted of a number of one-on-one interviews. About 50% of time was spent chatting about motivation etc ("why the hell does someone in my present career path want to go into consulting?"....) plus the classic questions you always read about ("what was your greatest leadership experience?", "describe a time when you made a mistake", "describe a time when you successfully influenced other people"). The rest of the interview was, obviously, the case.

Several comments on this:

1. Most of the cases started off fairly vaguely (stuff such as: "a credit card company is wondering whether or not to start an Air Miles program. Should they do so?"; "A mobile phone operator is worried because it is not growing. What should they do?"). About half became much more complex as I questioned the interviewers (and we therefore ended up discussing a few specific points in detail), while the other half remained fairly straightforward (giving me the chance to give a concrete recommendation).

2. I specifically asked if I could take a couple of minutes to collect my thoughts after the case had been presented. That was fine and helped me get a general picture before starting the questions.

3. Ask enough questions and don't make any assumptions! I had to really force myself to twist any assumptions I (impulsively) wanted to make, into questions.

4. I only got the chance to "wrap up" the case in about half the interviews. In the others, the interviewer decided to stop me before we had reached a conclusion. Clearly, this didn't mean that I had screwed up!

5. I noticed that the interviewers all appreciated me making an effort to make it a two-way dialogue (i.e. showing that I was listening to them properly).

6. Prepare enough questions to ask them. I had the opportunity to ask about 3 questions per interview, and that helped make the atmosphere agreeable as well as helping me to understand better what I'm getting myself into ;-)

7. I didn't have to do any written tests, but I don't know whether that sort of thing varies a little per office.

For more info, you can drop me an e-mail at: advokat_flick@yahoo.de....

Good luck!

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#4 Re: McKinsey interview
17/02/2004 16:04

negotiation info

I would think it highly unlikely that McK would entertain the possibility of negotiation - they don't need to. In the UK, AC entry level gives a salary of somewhere around UKP50k.

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#5 Negotiating McK salary
17/02/2004 16:40

Astonished

Thanks for the advice.

I agree that the base salary is very attractive. What mystifies me is that there seems to be a very broad range of signing bonuses offered (if comments on the web are anything to go by). Does anyone have an idea whether there is scope to negotiate on that issue, or are the signing bonuses more related to whether or not the candidate has an MBA debt to pay off?????

Thanks for your thoughts....

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#6 Re: Starting salary range McKinsey
19/02/2004 00:43

mauricio

congradulations with your new offer at McKinsey.i'm trying to find a job in a consulting firm but i havent had any luck. perhaps you can give me some tips. thanks.

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#7 Re: Starting salary range McKinsey
19/02/2004 12:20

Rodger Harding

McKinsey have an excellent reputation for hiring excellence - Their remuneration packages will be above average - I would leave the details to them - Great opportunity for learning, experience and if you ever leave, an unequivocal reference to the next step in your professional evolution.

Best of luck,

Rodger Harding

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#8 negotiating etc
19/02/2004 15:14

astonished

Thanks a lot for the advice!

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#9 health club trainer
27/02/2004 11:47

ravi singh rana

hi there i am ravi i have exp in fitness trainer last 8 years so give me reply then i will give u my cv thnak u

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#10 Re: health club trainer
11/03/2004 07:53

Fitness Manager

Hi Ravi,

We are on the wrong list for fitness related posting, but please do send me your cv. fitzone@acexnet.com

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#11 RE: McKinsey inerview
27/02/2007 18:12

Maria to Abbe_faria (#2)

Hello, I have been invited to sit two tests with McKinsey, the 70-minute one and the numeracy one (30 minutes). Any tips on how to prepare? And are the SHL tests relevant regarding the numeracy test?

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#12 RE: McKinsey interview
01/03/2007 11:23

Pr. C to Still Astonished (#3)

Is it possible that I email you for more info as I'm also applying to Mckinsey German office

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#13 RE: McKinsey interview
01/03/2007 22:25

thx to Still Astonished (#3)

Very nicely written and informative. Thank you for this.

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#14 RE: McKinsey interview
04/03/2007 23:21

Cat to thx (#13)

Hi, I am also interested in applying to Mckinsey, would be so greatful if you could email any information relevant to their interviews.

Thanks! Cat

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#15 RE: McKinsey inerview
16/03/2007 10:43

von to Maria (#11)

hi there..

Does anyone have any materials that are useful for me to prepare for the McKinsey interviews?

If you do, pls email me at pixiest@gmail.com

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#16 RE: McKinsey inerview
16/03/2007 10:43

von to Maria (#11)

hi there..

Does anyone have any materials that are useful for me to prepare for the McKinsey interviews?

If you do, pls email me at pixiest@gmail.com

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#17 RE: McKinsey inerview
24/03/2007 03:50

Cassie to Abbe_faria (#2)

Hi All,

I can see some of people have already sat the first problem solving assessment for Mckinsey - could you tell me, how did you find it? Was it very different from the examples they provide? Have you got any useful tips for the test?

Any info would be really helpful!

Cheers!

Cassie

(my email is cg.mail@virgin.net)

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#18 Bain written case study
19/01/2008 12:23

Charlotte to Astonished (#1)

Hi everyone, I have the final round of Bain in London next Thursday. We will have one written case study. Does anyone have an idea of how it is? how to approach it? the level of difficulty? Thanx

Best,

C.

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#19 RE: Bain written case study
19/01/2008 14:23

Recruiter to Charlotte (#18)

The first question you'll get will be 'why did you post this question on a Mckinsey thread when you're applying ot Bain?'

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#20 RE: Bain written case study
19/01/2008 20:53

Luiz to Recruiter (#19)

this is why us "second tier" consultants have so much work clearing up the mess left behind by MacKinsey, MacBain and other junk organisations

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#21 RE: Starting salary range McKinsey
19/01/2008 22:00

Jon to Astonished (#1)

Astonished, can you tell about yourself? age,uni.background etc. (you dont have to reveal your nationality though)

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#22 RE: Starting salary range McKinsey
20/01/2008 14:20

Read the dates to Jon (#21)

You might want to look at when the messages were posted before expecting a reply...

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#23 RE: Starting salary range McKinsey
21/01/2008 00:40

John to Read the dates (#22)

jez...my bad :P

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#24 RE: Starting salary range McKinsey
21/01/2008 01:02

astonished to John (#23)

Civil engineering, spanish uni, 23yo.

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