Grades Vs. Getting A Job

I'm 99.98% sure that McKinsey asks for SAT and all other standardized test scores (GRE, LSAT, etc.) on their application. I think BCG and Bain have the same policy, so it's not just the banks; it's more an indication of how selective a firm is.

Regarding grade non-disclosure, we have that here as well, though I think the implementation varies from school to school. The policy here is that recruiters cannot request grade information from the school; and I think they are not allowed to use GPA as a factor in setting their interview list. However, once you go into an interview they can (and all the banks do) ask for your grades in 3-4 key courses like accounting, finance, etc. It's up to the student whether he/she decides to share this information, but 2Ys have told me that most banks will not invite those that decline for 2nd round interviews. I don't know this to be 100% true (I'm sure it varies by firm), but again the most selective firms will most certainly not respond positively.