Thanks everyone for their insight.
Having been doing Strategy work at a Big 4 for 2 years I think I might be able to apply for a more senior role.
Fred - About the administrative side of the work - yes, I spotted it out in the webpage. I do not want to be a number cruncher or someone who helps gather data for a project. I want to do longer term research. At what seniority level could I bring up my own ideas and do research on them? How easy is it to do it?
To SVP - Regarding the type of research that could be done, how does it exactly work? You go and propose something and thats that? Being used to the standard 'job' in consultancy it sounds a bit weird. What are the limits here? For example, if I want to do research on how businesses work in war zones (something I am very interested), would I get a yes for an answer?
To MBB - I have thought too about going back to uni. However, I want my research to resonate, to have an importance in the market. Thats why I consider McK. Also, if I go and do a PhD I would like it to be at a very very good uni and I assume doing research at McK looks good.
Also, I am certain I will go back to uni because I would love to teach. It really is something that I would love (and goes down along family lines).
Finally, hows the pay? Where is the place (location-wise) to do research at McK? Boston? Brussels?
Again, thanks for your comments. Very much appreciated.