McKinsey and Co: School, Internship or Workplace
McKinsey and Co., one of the largest consultant companies in the world, came to AUBG on Thursday, Nov. 10, to present the company, to search for eligible future employees with either a bachelor’s or a master’s degree as well as to tell the students more about their internship opportunities.
The company works in a variety of fields such as supporting governments and private businesses in several sectors, mergers, strategies for new businesses, creating more energy and resource engineering production strategies and more. The representatives of McKinsey shared that they even have projects supporting Olympic athletes as well as a recent one focusing on setting a facility for refugees in Turkey. According to them, employees have the chance to choose on what types of projects they want to work on. Thus, the company does not restrict its them on concentrating only on one field, but encourages flexibility and challenge-seeking.
“The whole point of the job is to solve difficult problems,” said Maryana Kostadinova, a Senior Business Analyst for the company. She shared that she is new to the company and was hired right after graduate school. Kostadinova disclosed that the company is suitable for people who “are not sure what to do before or after they graduate.”
In answer to a question from the audience, the representatives explained that there are specific language requirements that the company has. Each office is looking for employees who have an advanced knowledge of the local language. However, since the company does not have an office in Bulgaria, the Hungarian office, which is responsible for Central Europe is looking for Bulgarian speakers. Some foreign students from the audience, expressed their concern that the firm is not looking to hire other people who speak Albanian, Russian or other of the languages, represented at AUBG.
“We offer amazing opportunities but they are not suitable for everybody,” said Andrea Egri, McKinsey’s recruiting coordinator.
This is the third time when the company visits AUBG to recruit new candidates.
“The exam in January will be the 3rd one that we are organizing on the AUBG campus,” shared Egri, “However, no AUBG student has received a job offer after the last 2 tests.”
Some of the advantages of being part of McKinsey presented during the presentation include: McKinsey sponsored MBA, lots of travel, becoming a partner in roughly seven years and great atmosphere. While some of the negatives are: short deadlines, lots of time with the team, lots of travel and huge responsibility.
“McKinsey creates an unrivalled environment for exceptional people,” said Aron Antal, McKinsey engagement manager.
One of the facts that the representatives shared was that once a person becomes part of the firm, he has to complete an MBA program after three years of his employment. However, the company does not restrict the field of study, thus, it can be medicine, law, history and others. The company would pay the full tuition of study and even provide allowance for books, housing and other expenses for all years of study. Once the person returns to the company and works for McKinsey in the next years the loan is cancelled.
One of the revealing highlights was that the company also offers internships. The internship is usually in the summer, starting in June, and 10 weeks is the shortest period.
“Doing an internship is equally challenging as the responsibility of a senior business analyst,” said Andrea Egri.
Answering a question about the wage ratio, the representatives were unwilling to share more than that the wage is tied to the regional and local currency. “I cannot share a specific number,” said Andrea Egri, “but I think it is really great.”
Another fact for the company shared during the presentation is that it strives for development and learning. The company offers a two-week training experience for all employees every year. It has mentoring programs and a “360-degree feedback” from colleagues.
McKinsey’s presentation stated that it has more than 10,000 consultants, 106 offices in 60 countries, over 90 years of expertise and works 90 percent of the Forbes’s 500 list.