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Expected comp leaving McKinsey at expert/senior expert level

 
#1 Expected comp leaving McKinsey at expert/senior expert level
05/11/2018 23:48

ahm

Hello,

I have an offer as a data science expert at McKinsey in the healthcare practice. Knowing the work life balance, I don't think I can commit stay on to become a partner or equivalent, and there is a chance that I may exit at expert or senior expert level. I have heard from many people about fantastic exit opportunities and expected comp/seniority increase while exiting from consulting into corporate world. So, my question is: What is the typical total comp and typical roles when exiting from McKinsey into the industry at expert level and at senior expert level?

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#2 RE: Expected comp leaving McKinsey at expert/senior expert level
06/11/2018 16:19

Tony Restell (Top-Consultant.com) to ahm (#1)

I don't think anyone with the experience to be able to answer these types of questions could do so without you being far more precise in your question. What location are you ultimately looking to work in? What sector might you target? What type of role would you ideally like to end up in? Would you be going down the consulting MBA path at some point? The answers to each of these questions would massively alter the answer you'd be given to your likely remuneration question.

What I can say with confidence is that what you've heard about there being fantastic exit opportunities is true if you've got a strong consulting brand name on your CV - and certainly if you have McKinsey you'd fall into that category. You're likely to be able to leapfrog a level or two in terms of where you'd find yourself in a corporate role vs. having stayed in corporate and worked your way up internally. Plus you'll have a wide range of opportunities open up for you, so if you decide there's a particular market you want to work in for example... the chances of you fulfilling that ambition are far greater.

Hope that helps - and good luck.

Tony

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#3 RE: Expected comp leaving McKinsey at expert/senior expert level
08/11/2018 15:31

marsday to ahm (#1)

Hello,

I have an offer as a data science expert at McKinsey in the healthcare practice. Knowing the work life balance, I don't think I can commit stay on to become a partner or equivalent, and there is a chance that I may exit at expert or senior expert level. I have heard from many people about fantastic exit opportunities and expected comp/seniority increase while exiting from consulting into corporate world. So, my question is: What is the typical total comp and typical roles when exiting from McKinsey into the industry at expert level and at senior expert level?

sounds like you are in one of the operational business units at McKinsey not pureplay strat consulting. As you are on Expert track you cant make Partner anyway so no worries on that score. What's more useful will be the experience you get with major health data sets, and McK do a superb job of rounding people out with mini MBA type programs inhouse. Actually having an MBA in data sciences is a bit redundant.

As Tony says, having the brand on your CV will certainly benefit you in the mid term.

But asking what your exit opps and salary would look like is a bit like asking for the next lottery numbers - too many variables. The seniority increase is correct - expect a steep acceleration in your career progression.

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