Have an offer to join McKinsey as an associate but with 20% drop in salary and a step down from current manager-role at a less prestigious strategy boutique. Is it worth it?

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What’s the boutique ?

In the long run, Mck comp will be higher in ~2 years , better brand name and exit opps

It’s a no brainer

I took a pay cut and demotion to come here. Health care is truly phenomenal here. Working as an American at MBB is the best of both worlds (hours aside). Higher salary and lower taxes but still with high quality healthcare that’s effectively paid for by the company.

Less than a year, so no

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Go start next opioid crises! :D

likefunny

Self burn. That's rare!

Lol what? -20% $$, not management level AND insane working hours? Really? How is working more and earning less even an option that’s on the table? 💀

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Haha! Well, even the answers in this thread are split, so…

inb4 gO tO McKInSeY aNd StArT tHe NeXt OpIoId CrIsIs !! Hurr durr

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Yes. McKinsey is worth the name on your resume.

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Agreed with Deloitte. The potential companies you could exit to, tech companies with equity if you land a strategy role, would well make up for it.
Same concept as going to get an MBA

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McK has no minimum time required in role as associate to be promoted. So if you perform really well, you can become manager again quite fast

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Yes , in the long run if you can cut it at McK you’d be ahead by a long shot , take it and don’t look back

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Can you negotiate salary or signing bonus? Can you negotiate 6 month performance/promotion review cycle?

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In very simple terms, yes. The general rule is that you, as associate, have to convince a partner to staff you as EM.

You finish the first as EM, convince a second partner, then you get promoted as you start your second/during your second project.

So it’s a bit on you to make the push and start looking for projects as manager

This is not a hard rule but it’s how most associates get promoted. If you don’t perform well, they will ask for a 3rd, a 4th… if you perform extremely well and find 2 partners that love you, it might happen before the first finishes

This is only for North America, any other region has the promotion tied to the review cycle

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Nope

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Hell no, work yourself into an earlier grave from stress to get paid 20% less? Wtf

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See if you can negotiate up the comp at the very least

Well they’ll add a signing bonus to compensate for the first year (haven’t received the amount yet though)

If you want to stay in consulting and make a career of it, then yes. Or if you have a plan to move into some particular industry or type of work that you believe MCK will help you do, then also yes.

If you’re doing it because of the resume and you think the prestige on its own, even from a downlevel, will land you some better exit than you could get now, then no.

Your post sounds like you’re comparing salary only. A more fair comparison would be total comp since the bonuses at McK tend to be pretty good.

💀💀💀 this just gets worse OP

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No

Depends how long you plan/can stay at McK vs your current firm and salary projections based on each promotion you can get.

For 1 year? Maybe not unless you really want to McK on your cv (which is fair).

2+ years is when the name brand and comp (probably) start to scale.

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