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If you want to make Partner, whenever there is doubt, join at the lower level — promotions should take 1-2 years and the additional apprenticeship is critical to success here. If you just want the McK brand for another hop, come in the highest level possible.
This goes for most firms. Good advice. Be sure to express your desires explicitly, on regularly scheduled intervals. 😁
They do hire APs. Will probably have people work as an Associate on a couple of studies initially to familiarize you with the work, especially if coming from a non consulting background.
AP comp structure is slightly different compared to EMs. EMs get base + bonus. APs get Base+bonus+ small share of 'Additional Award' (it is a % of your base and can range widely depending on firm performance from 40-80% of base).
First year APs make between $300-350k (conservative).
Higher than 300. That's the cap for upper tenure EM before the salary adjustment at year end. Mid year designation and I'll be making over 350 in my first full year.
I think it's best to set your expectations realistically...
It's very hard to get hired in as an AP. It's acknowledgment you will be a partner in a couple years with the right support. Because of this they need strong evidence you will be sponsored by senior partnership and successful. Typically, this looks like demonstrated success at an executive level in a topic we currently don't have leadership in. Plus a clear skillet that translates to client service and building executive level relationships.
We have a terrible habit of offering people a role below the right level to give it a 1-yeat fit test then promote. It's something I argue against constantly in candidate review meetings. But if there's debate between EM and AP, 80% certainty we will offer EM because that doubt is an argument against an invite to becoming a partner in the near future
Following because I'm in discussions to possibly do the same
Thank you all for the very thoughtful replies, it’s very helpful insight and much appreciated. It sounds like EM may be the route I get pushed into. That said I think I would hit on many of the boxes for AP given a track record of sales and origination. Either way I’ve enjoyed all the conversations with the people I’ve spoken to so it might just be a fit for me either way.
What did you end up doing? Was your final offer EM?