2023 Vault Rankings
At a Glance
“Flexibility, great colleagues, good salary, very good support in healthcare etc.”
“Ability to balance being a single parent, the culture, the challenge it offers me alongside the future potential.”
“The brand and exit opportunities.”
“Stress, and very tight timelines.”
“Can be slow paced due to the size of the organization.”
“Compensation could be higher for long hours.”
About McKinsey & Company Europe
McKinsey & Company is a privately owned management consulting firm committed to accelerating sustainable and inclusive growth. Roundly considered the most prestigious company of its kind, it has achieved a near-universal level of renown by combining transformative technologies and a range of capabilities and working models. The firm’s practice areas address strategic, organizational, operational, and technological issues that challenge its clients.
McKinsey’s work encompasses everything from tech-enabled transformations to climate transition journeys to implementation and change. While it doesn't share the names of its clients, the firm does claim to serve roughly 90 of the top-100 corporations worldwide and more than 80 of the 100 largest U.S.-based companies on their most important challenges in a digital and data-enabled world—70% of the top 50 of Fortune 500 companies were served on digital or analytics. On the public/social sector side, McKinsey has completed over 5,000 projects for social-sector organizations (foundations and nonprofits), local, regional, national, and international governments and public-sector bodies over the last five years.
The early days
In 1926, James O. McKinsey, founded the business to give local companies financial and accounting advice. Before long, he realized that clients' financial data could be interpreted to help make better management decisions. Thanks to this innovation, McKinsey is credited with the idea of using consultants, or "management engineers", for the first time. Although the firm is his namesake, it was one of his protégés, Marvin Bower, who is most remembered for shaping the direction of the firm.
Most notably, Bower is known for molding the McKinsey culture, mainly through a three-part code of conduct outlining certain ideals the firm was to uphold—something that remains in place today. Among these values are putting client interests ahead of those of the firm, giving superior service and maintaining the highest ethical standards. McKinsey’s values have been updated in small ways to reflect the changing times. They inform both the firm’s long-term strategy and the way it serves its clients on a daily basis. McKinsey is committed to adhering to the highest professional standards, improving clients’ performance significantly and creating an unrivaled environment for exceptional people
Degrees of success
McKinsey looks at talent, not because of where they are or where they studied, but because of who they are and their potential. Today the firm hires candidates from a far broader range of institutions, not just MBAs from the top schools. McKinsey knows that high potential talent is anywhere and everywhere. As the firm grows, McKinsey has an exciting opportunity to open its doors and welcome new and more diverse people who come with different backgrounds and experiences, who are ready to learn and grow. McKinsey knows that talent is everywhere and is looking in places where people may not expect, assessing for potential rather than pedigree.
Those who choose to move beyond the firm—regardless of their tenure when they depart—tend to have a better-than-average chance of finding success. Nearly a quarter of the firm's former consultants have gone on to found their own businesses—more than 20 of which have become unicorns ($1 billion+ valuation)—while 500+ alumni are leading $1 billion enterprises worldwide, including almost 50 leaders in equivalent public and social sector organizations.
As a single, global entity, McKinsey has no headquarters office. Instead, the firm operates what it calls a "one-firm" partnership model, with offices across the world sharing values and cultural norms. This allows the firm to assemble teams of experts in ways that best serve their clients. Consultants are attached to a particular office and quickly build a local community, and they also work with colleagues from other locations. Individuals may choose to transfer to other offices for engagements or for the long term.
The firm is committed to social impact and uses its intellectual, financial and convening power to help address issues such as disease, poverty, climate change, and natural disasters. The firm invests its resources in research on topics such as education, and in extensive pro bono and volunteer work. It recently published its Social Responsibility Report, to capture in one place some of the ways it strives to have a broader impact on society.
The firm also invests to advance an understanding of resource productivity issues, including carbon abatement. McKinsey is committed to achieving net-zero climate impact by 2030.
Through McKinsey Global Institute (MGI), the firm publishes research on pressing socio-economic issues which it hopes helps to build a better society by providing business and political leaders with the insights they need to make good decisions.
During this uncertain time, McKinsey has taken a through cycle approach, meaning we have continued recruiting and haven’t made major changes to our hiring approach. We honored the extended offers we had made in Spring 2020 when much of the pandemic shutdowns occurred, including for our graduate hires and summer interns. We anticipate that - in 2021 - we will hire the largest incoming class in McKinsey’s history.
The health and safety of our people is obviously our top concern so we made internships and onboarding virtual. We are fortunate to have the technology and flexibility to move recruiting events and other aspects to a virtual format as needed. By end of 2020, we hosted ~1k virtual recruiting events and ~20k virtual interviews in 2020.
In addition, many of our people have worked from home occasionally or regularly in the past so we were not interrupted by stay at home rules around the world. All colleagues have access to support, including a free, confidential 24/7 Colleague Support Center, CoachNow, to get coaching sessions by phone or VC, our Mind Matters intranet site to help colleagues and their families with mental health support, and all firm colleagues have free Headspace Plus accounts.
In terms of client work, it’s fair to say our clients have never needed us more and we’re having important conversations with our senior-most clients about how they protect their people, their customers and their business. This means McKinsey can provide our people with the same incredible career and networking opportunities we’re known for.
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