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McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

bloomberg.com

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Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#81

Post by rvba »

oneoff786 wrote: post #46
spamizbad wrote: post #40

Earlier quoted context omitted.

If you were competent at running businesses why would you be an associate at McKinsey when you could be a COO or VP or something?

An associate is typically a fresh MBA grad or someone with a few years of tenure out of school. Awkward imbalance of levels aside, I enjoy the consulting lifestyle personally. It’s interesting to work with many different clients and have enough political clout to get things done on a fast timeline.

Consultants get things done? Apart from a deck of slides?

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#82

Post by mupuff1234 »

raincom wrote: post #56
spamizbad wrote: post #40

Earlier quoted context omitted.

If you were competent at running businesses why would you be an associate at McKinsey when you could be a COO or VP or something?

Well, if you have an MBA from San Jose State, you will be hired as a low level analyst at Apple/Google/Netapp. However, if you get an MBA from Stanford GSB/Harvard BS, you can join as an associate at McKinsey/Bain/BCG, then jump to Apple/Google/Netapp as a VP/Senior Director of Strategy, thereby putting you in the elite class. That's the difference, that's why there is so much competition to get into top three busine…

Nobody is jumping from being an associate at MBB to being a VP at a top tech company.

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#83

Post by nice_terrible »

rvba wrote: post #81
oneoff786 wrote: post #46

Earlier quoted context omitted.

An associate is typically a fresh MBA grad or someone with a few years of tenure out of school. Awkward imbalance of levels aside, I enjoy the consulting lifestyle personally. It’s interesting to work with many different clients and have enough political clout to get things done on a fast timeline.

Consultants get things done? Apart from a deck of slides?

Don't forget the invoices.

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#84

Post by afavour »

rvba wrote: post #81
oneoff786 wrote: post #46

Earlier quoted context omitted.

An associate is typically a fresh MBA grad or someone with a few years of tenure out of school. Awkward imbalance of levels aside, I enjoy the consulting lifestyle personally. It’s interesting to work with many different clients and have enough political clout to get things done on a fast timeline.

Consultants get things done? Apart from a deck of slides?

They do. The client paid a load of money to hear what the consultant said, there’s a lot of incentive to act on it otherwise you’re the exec that hired a load of consultants only to ignore them.

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#85

Post by seanhunter »

Sytten wrote: post #11
vuln wrote: post #9

Earlier quoted context omitted.

Let me tell you about the tens of thousands of open cyber security positions.

Ha yes, the famous cyber security experts that dont know what an HTTP request is but will run a nessus scan, charge 10k and tell you you are secure...

I got a call from one of them recently. It went like this.

Him: Hello Sean, have you got 5 mins? I’m from X and we are the world’s first company to offer penetration testing as a service…

Me: If I can just stop you there, penetration testing already is a service.

Him: … err … no well the thing is we offer the ability to…

Me: Instead of running the pen test for the company you have a web dashboard which allows the company to run it for itself?

Him: … err … yes.

Me: I can see how that’s convenient for you. Well if you were running it for me that would in fact be a service, yes?

Him: … err …. … yes

Me: So your “Penetration testing as a service” is in fact less of a service than all the other penetration testing companies are offering.

Him: … err … perhaps you’re not our target customer.

Me: No

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#86

Post by bubblethink »

raincom wrote: post #56
spamizbad wrote: post #40

Earlier quoted context omitted.

If you were competent at running businesses why would you be an associate at McKinsey when you could be a COO or VP or something?

Well, if you have an MBA from San Jose State, you will be hired as a low level analyst at Apple/Google/Netapp. However, if you get an MBA from Stanford GSB/Harvard BS, you can join as an associate at McKinsey/Bain/BCG, then jump to Apple/Google/Netapp as a VP/Senior Director of Strategy, thereby putting you in the elite class. That's the difference, that's why there is so much competition to get into top three busine…

>if you get an MBA from Stanford GSB/Harvard BS you can join as an associate at McKinsey/Bain/BCG, then jump to Apple/Google/Netapp as a VP/Senior Director of Strategy

This is laughably inaccurate. Or maybe the big three have done such a great job at marketing that people on HN think this. To bring things back to reality, your typical MBA associate joining a top 3 consulting firm is going to be at roughly the same level as an equivalent MS grad and/or someone with a few of years of tech experience joining FAANG. i.e., Someone in the L4-L5 territory based on profile variations. Nobody is jumping from associate to VP.

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#87

Post by viableSprocket1 »

qaq wrote: post #73
viableSprocket1 wrote: post #55

Earlier quoted context omitted.

Not my experience over a decade or so, but sorry it was yours. Sounds awful.

It is difficult to get a man to understand something, when his salary depends on his not understanding it

Is it more or less difficult than counteracting Dunning-Kruger?

(for the record...former salary, several years ago)

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#88

Post by vkou »

JCM9 wrote: post #13

McKinsey’s brand has taken a beating these last few years with the company going from scandal to scandal. The NY Times has been doing a whole string of stories on the firm’s questionable business practices and ethics. Funny though how it sounds like, per their own admission, McKinsey badly mismanaged running their own internal operation and woke up to realize they need mass layoffs. Sort of causes one to question how…

> Mass layoffs generally don’t follow strong management execution

In 2023, the only thing mass layoffs follow is the Fed raising interest rates.

Many of the businesses doing them are quite healthy.

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#90

Post by anonymouskimmer »

theGnuMe wrote: post #59
antasvara wrote: post #58

Earlier quoted context omitted.

I've always found that saying disrespectful because it treats teaching like everyone's second choice. Many that "can" choose to teach. Currently licensed and practicing surgeons are the primary way that medical residents learn how to become effective surgeons. I would never trust somebody incapable of surgery with the education of a surgeon.

It takes real skill to teach.

"It takes real skill to teach well."

Agreed.

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