Spent 10y in Big 4 mainly in US and Europe. Interviewing for Associate Partner position with an MBB in SE Asia. Would a ~5y stint in the region be an asset if I wanted to return back to US but remain with the hiring firm? Or is it a rabbit hole?

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Stephon Marbury never came back from Asia. He thought he was only going to be there for a few years.

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If you joined as an AP/Principal and stayed for 5 years you would become an equity partner in that period. Certainly for BCG (but I imagine also for McKinsey) it is quite rare for Partners to move geographies because they leave their relationships and clients behind. In the instances it does happen it’s to fill a clear niche or gap, but how common these are is debatable.

TL;DR - don’t bet on geographic mobility as a Partner

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You can move after making Partner. I know many that have done so. It’s almost encouraged here at McK.

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I hope you get the job and hire me. I'd love to work for MBB in SEA!

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