Offers from both McKinsey and BCG - which firm to choose?
After recruiting with both McKinsey and BCG for an office in Northern Europe, I was fortunate enough to get full-time offers from both firms. I have about a week left to decide but find it extremely difficult as both firms are very similar overall so I would highly appreciate your input on some of the thoughts below.
McKinsey advantages:
McKinsey has a much more flexible staffing model, where you can have a bigger impact on which projects you wanna do. It seems opportunities to do projects on a more global scale are also better at McK. Meanwhile, at BCG it seems you can't really impact your staffings during your first years and the opportunity to do projects abroad seems more limited.
You can have a more accelerated career path if you are a top performer and for example make Engagement Manager in only 3 years. Meanwhile, BCG does not offer this option as far as I understand. But I guess this also makes McK culture much more competitive internally.
The brand name is obviously going to be stronger than for BCG. However, I am not certain to what extent this would impact my potential exit options into industry / PE / VC in the future. Especially as I already have some of the biggest brand names within IB and PE on my resume since before.
BCG advantages:
In my interactions with BCG, they have come across as much more laid-back compared to McKinsey. People are more friendly and overall chill, while the people I have met from McKinsey were often a bit more intense type-A people who were not as interested in conversations and getting to know me but just wanted to get straight to the point.
It also seems hours are a bit better at BCG. At BCG, they have a 55-hour target week and overall this seems to hold up pretty well. Meanwhile, at McKinsey I'm getting more mixed signals. One guy told me his worst week ever was 70 hours, while other people told me hours are only slightly better than at US investment banks.
Choosing between McKinsey and BCG, especially for an office in Northern Europe, is indeed a tough decision given the prestige and opportunities both firms offer. Here's a breakdown of the considerations based on the insights from the WSO dataset:
McKinsey Advantages:
Flexibility in Staffing: McKinsey's model allows for more personal influence over project selection, potentially offering a broader range of experiences and the chance to work on global projects. This flexibility can be crucial for those looking to tailor their consulting experience towards specific industries or functions.
Accelerated Career Path: For high performers, McKinsey offers a fast track to higher positions, such as Engagement Manager within three years. This can be an attractive proposition for those aiming for rapid career progression, though it may contribute to a more competitive internal culture.
Brand Prestige: McKinsey's brand is exceptionally strong globally, which could be beneficial for future exit opportunities. However, considering your already impressive resume with top names in IB and PE, the incremental benefit might be less significant.
BCG Advantages:
Culture: BCG has been described as having a more laid-back atmosphere compared to McKinsey, with a friendlier and more relaxed interaction among colleagues. This cultural aspect can significantly impact your daily work life and overall job satisfaction.
Work-Life Balance: BCG targets a 55-hour work week, which seems to be more consistently adhered to compared to McKinsey. While consulting is demanding, having a clearer expectation of work hours can help in planning and maintaining a work-life balance.
Decision Factors:
Personal Values and Career Goals: Reflect on what matters most to you in your career and personal life. If you value a fast-paced, competitive environment with the possibility of rapid advancement and global projects, McKinsey might be the better fit. On the other hand, if a collaborative culture and better work-life balance are more important, BCG could be more appealing.
Exit Opportunities: Both firms are prestigious and offer excellent exit opportunities. Given your background, consider which firm's network and industry focus align better with your long-term career aspirations.
Cultural Fit: Ultimately, consulting is a people business. Think about where you felt more at ease and could see yourself thriving. The cultural fit can significantly influence your job satisfaction and performance.
Remember, there's no wrong choice here. Both McKinsey and BCG are outstanding firms that can offer incredible opportunities for growth and development.
Sources: Choosing between McKinsey, Bain, and BCG?, Received offers from all three MBB firms and don't know what to do, Bain Boston vs BCG New York, McKinsey (London) Vs BCG (London)
First things first: CONGRATULATIONS! This is very impressive to get both offers :) Well done!
Now, I don't think there is a wrong choice here (both outstanding firms that will yield great opportunities). That being said, at the margin I would probably pick McKinsey then. A couple of reasons for this:
The only thing I would say that could overturn the above is that I genuinely think you should choose based on who you got along with best. Reason is that you'll spend 55-65h a week with those folks, so you may as well make sure you like the people you're with, whether that's BCG or McK
Best of luck to you!
Thanks a lot, brilliant advice as always from you on this forum. I think what you're saying makes a lot of sense. The only negative aspect I've found with McKinsey is not having connected as well with some people and the potentially higher hours. However, when thinking about it there is probably a solution to this. As you can greatly influence which projects you are on, I could probably push to be on projects where people are more chill and hours are lower. I suppose the people and hours differ quite a bit across practice areas, where you will find more ex-bankers who are a bit less friendly and like longer hours on private equity projects.
From experience, the variance in hours will be driven far more by the type of projects you are on (and sometimes the office / country culture) than the firm itself. Even at Bain I know people who have done >75h, or have had multiple times eating lunch / dinner at their desk, while that's hardly ever happened to me in my ~2 years (maybe twice, and never worked more than 63h). Some people are lucky, some aren't... no real way to avoid that.
For the people, that's the one thing that's more "vibes" than a real metric. I know very few McK people and those I know I like, but no one from BCG, so can't really comment on them. McK does staff more globally / regionally, so perhaps the people you spoke to from your office wouldn't be the ones you'd work with all that often.
Also, bear in mind that most people are in it for 2-4 years, max. So during your tenure there, you'll likely see a lot of turnover and new arrivals every few months. That applies to both people you like and those you don't. Just saying those organisations aren't monolithic, things change.
Again, I really dont think there's a wrong choice here, so feel free to choose the one you like / want most.
They are both good options, but I would choose McKinsey. One of my friends went to BCG after HBS and now he is CEO of Binance US.
First of all - massive congrats!! You should be incredibly proud.
I’m a BA at McKinsey London so can speak for the culture. The summary is there are a huge amount of variations between sectors.
The following are all huge generalisations based on my experience. The overarching takeaways are that a) there is huge diversity in the work we do and the types of people we hire - you will not mesh with everyone, b) it often takes around a year to find your people. Once you do, life becomes much easier.
For instance, PEPI tends to attract people who are sharp, direct and quite independent - you will not be coddled here. SHAPE and transformations people are much more lifestyle oriented. Banking is more European/ international. Consumer is very gender diverse (interestingly also tough lifestyle). TMT is great lifestyle, really outgoing and fun people.
Finally, if you are concerned about not meshing well with people, tell your recruiter and ask them to set up coffees with leaders in different sectors you think you may be interested in. If you PM me, I’m happy to give tips on what to ask for and set up chats with people I think you may like.
A final thought- I’ve spoken to quite a few people about this. BCG is very good at incentivising people to spend time on recruiting and really take it seriously. It is something that helps in reviews, there is a strong recruiting community etc.
McKinsey does not. It has no bearing on reviews, there is no community that consistently helps with recruiting. Anyone that spends a significant amount of time on it is acutely aware that they are being indirectly penalised for not spending time on studies/ practice events/ building a strong network. People will invest time and effort into getting to know you once you’re here and they can be confident that their investment will mean something.
All this to say: I wasn’t the only one who was pleasantly surprised at how wonderful people are the Firm once I joined.
Thanks so much for this amazing advice. Very interesting to hear about the focus on recruiting as this is something I really noticed during the process. Perhaps this also explains why I got a bit of a better connection with BCG than McK. I did end up choosing McK and feel very comfortable with the choice. Also, thanks so much for offering to set up some chats but unfortunately I will not be based in the London office. Looking forward to joining and exploring the different sectors / project types in my home office!
Pick the brand for life. McK is Harvard of consulting
I'll comment something on the contrary - I was successful at recruiting at all MBB, I ended up going with BCG.
McKinsey's brand is definitely better, but I resonated more with the people at BCG and ended up making several lifelong friends. To this day, I have no regrets (although honestly, Bain is probably the place that I would've made even more deeper friendships in retrospect).
I've since left consulting for several years now, and the brand honestly doesn't matter that much in the long run - but the relationships that you make inevitably will. The marginal benefit in brand is really not that big.
Was interview style different or similar at both places
don’t overthink it. Mck
Ex-BCG, don't think the WLB there is any better than at McKinsey... it's the same job just different recruiting pitches. Your lifestyle would vary more between projects within the same firm than it would between different firms.
And I wouldn't fall into a trap of generalizing a firm's culture based on a few recruiting conversations. They literally give presentations to the office about how to conduct yourself/act in recruiting events. I'm not saying there is no cultural difference, but remember that both firms pull from the exact same applicant pool.
While I had a great experience at BCG and you can't go wrong with either, I'd go McKinsey.
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