Full time MBA or Join Mckinsey

Question

Hello All

I was a reapplicant this year and thought my chances were slim. So I went in and did two things in parallel - I applied to business schools in Round 1 and applied to Mckinsey for an Expert position in parallel. Now comes the hard part - I made it through both. I currently have an admit to one of the top 5 B-schools in US for a 2 yr program and I have been given an offer after 4-5 rounds of interviewing at Mckinsey. The expert role is equivalent to that of an Engagement Manager, though separate from the partner track. I have been told that I would have the option of migrating to that track later.
My target industry after MBA was MC in one of the big three companies. I had assumed I could not break into it if I did not have an MBA. So here is the Q - which one makes sense? Join Mckinsey and leave the admit I have in hand or leave Mckinsey offer and go for the MBA assuming my knowledge and avenues might open up further?

CobraKai · Answer

As much as I enjoy B-school, it's a means to an end. A lot of people at top 5 business schools are trying to break into McKinsey - I don't know what level the Expert is, but to my understanding, folks come out of B-school as a consultant and progress to manager, senior manager, then partner if they make it that far.

Can you describe the track you'd be on?

Sounds to me like the only reason not to go the McKinsey route is if you're not 100% sure and you'd like to explore more options in B-school, or you just really want the brass ring (nothing wrong with this).

Interesting problem to have!

dlwdmo · Answer

The track is something like this:
Specialist>Expert>Senior Expert>Principal
The usual track is:
Associate>Engagement manager>Associate Principal>Partner/Principal

Almost all MBA grads enter at the Associate level.

Mckinsey's website used to have these trees but they have removed them. I think it has to do with the fact that they are hiring more people outside of the MBA background and they dont want people to have the assumption that you are tied to one track. I have been told by a partner that Whether I go from an expert to EM vs Senior Expert is dependent on personal preference and performance. I think the only thing that confuses me is, is there time for you to explore other options during an MBA? The more I talk to existing students, the more it sounds like it is a race the moment one gets in. The only other thing which attracts me is entrepreneurship and I have dabbled with it in the past. Also concerned about not having enough business knowledge to sound smart enough at McK, I assume I can learn as I go along

nycdweller · Answer

congrats on parallel processing - it's a great idea, but when all things work out, you have a predicament to solve, to be sure.

i would suggest thinking about why you want to get into MBB - do you want to get on the partner track, or do you have to have a lot of exit options in a few years. one additional value of an MBA is building out a network, one that you can potentially lean on when you're an EM/parter-track at MBB to drum up more business. so if you might want to be partner-track, it might be worthwhile deferring your McKinsey offer now to get an MBA. furthermore, chances are, if you have the right content knowledge, you can learn the case study method, and will be as strong a candidate for MBB after your MBA (though that may not entirely be true as i've never heard of the "expert" track before).

if you just want the MBB name on your resume (which is also totally fair) to open some short-term doors, as long as the broader industry doesn't underweight the "Expert" role, then by all means, feels like it might be the smart decision. though for what it's worth, if the "Expert" role is like a subject-matter expert, i would really do the due diligence as to whether it's a role that will open a lot of doors. being the same seniority as an EM doesn't give you the experience of an EM and doesn't value you as an EM.

good luck!

CobraKai · Answer

To some extent it's a race. If you know what you want to do, it's easier and less time consuming. But if there are other things you'd like to explore, a top B-school exposes you to professional clubs and corporate briefings so you can figure things out. The one where there really isn't time is I-banking, but I know several people who went to both Consulting and marketing recruiting events before choosing a route and dropping off the other. Yes it's more time consuming, but it's also better to figure out what you REALLY want to do instead of chasing after an idea.

dlwdmo · Answer

I think by the "expert" track, I just meant the specialist or the subject-matter expert track. During the evaluation process, I did undergo case studies along with personal experience interviews, so it wasn't completely different from the usual recruiting process.

Thanks for the input on thinking more about the longer term outlook. I don't see McKinsey as a label to use further down the line, I want to stay there for a longer period of time. Ideally speaking, I would like to transition into the role of Engagement Manager and then hope to progress from there. I definitely need more inputs from people who are working within Mckinsey

jumsumtak · Answer

Great problem to have. I will resonate what has been said already - if expert role is equivalent to the associate/EM role in terms of exit opportunities/prestige, just go for it. B-school IS means to an end.

Have a follow up question for you, though - will this 'expert' role tie you down to an industry/function? And if yes, are you happy to do that? 
Also, if you do want to eventually move to the other track, do you have any idea how long is 'later' in 'later you may switch'?

dlwdmo · Answer

I will be joining as a subject matter expert in a particular industry, so in the future, my options would be in related practices. I like the field I'm in and am not looking to switch industries post MBA.

Making the shift to partner track would be 1-2 years down the road.

Thanks for your input too, these are all valid points I would be considering

dave785 · Answer

My first thought was, "How old are you?"

If you're 25 or younger, you could easily work for McKinsey for two years and then go back and get an MBA if you so desire.

If you're already in your late twenties, though, you'd really have to choose one or the other... no time for both.

domotron · Answer

dave785 is totally correct. If you are in your mid 20s I think the option is there to apply in a couple of years if you so wish. If you are older then it very much is a choice between b-school vs McKinsey. To be honest if your goal was McKinsey in the first place then I see no reason for you to attend b-school (unless you really value the network/experience/academics) since the cost will be 2 years worth of lost income, declining a great job offer and cost of attendance.

dlwdmo · Answer

You are absolutely right. The dilemma exists because I am not in my mid-20s. It would pretty much be one or the other at this stage. Lost income+cost of attendance can easily reach $500k for this case.

phlaym39 · Answer

If you want to do both, have you explored the option of deferring your mck start date. Generally you get 2 years. You should check if that option is on the table. Maybe you could sign the offer and get a guaranteed job at the end your MBA. Although it would mean that you're locked in, although it's a great option to be locked into.

My $0.02 regarding the option to switch tracks, it will be fairly tough, especially going from expert to generalist. Experts don't usually "run" projects like EMs and are more of a consultant for the consulting team. It's not uncommon to join a team for just a few days or a week to share your expertise and then leave to another project. Prepare to do a lot of travel, much more than the average consultant. Because of this, you get very little opportunity to build your skills in successfully running an mck project from end to end, making the switch to the generalist track that much more difficult

Full time MBA or Join Mckinsey

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