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Enthusiast
Any good books / courses on futures trading?
When to buy back in to triple leveraged etfs 🔮
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Roth vs Traditional 401k, thoughts?
Partner Interview (6th interview).
Good or Bad?
My referral had interviews w/ (1)
recruiter, (1) SM, then the series of
(3) 1:1's w/(1) MD and (2) SM's.
The recruiter said he will now have
an interview in Jan. w/ the PPMD.
He interviewed for a M role in
consulting for customer marketing.
11 YOFE
He does have a wide skill set and the
recruiter said it was all positive
feedback, just have to find out
where to put him (on the team he
interviewed for or another he is
qualified for).Deloitte
I recently interviewed for L7 EM at Google and had 4 great interviews and one not so great system design. I submitted external referrals all of which gave great feedback. The recruiter said the next step is team match/interviews and then the HC. Anyone in a similar situation? What was the result? Google
Additional Posts in Consulting
Rising Star
Guys there’s this boot camp that I came across that trains people to get jobs in Top consulting firms and has a fee plan wherein you pay once you get placed. I just wanted to know if someone here has any experience with this ?
https://docs.google.com/spreadsheets/d/e/2PACX-1vQuKa3k-rG3emxJcfbidCjC0Su85E_BKqW9cTeFZMY4xg4LnUVxOLrpcETqf7d-iEePlFh6lJ1knwwD/pubhtml
CAIA vs CFA?
Are your firms still experiencing big layoffs?
What are the best Sales books y’all read?
New to Fishbowl?
unlock all discussions on Fishbowl.
Well ETFs and mutual funds are still on the table and if you have a lot of stocks that you want to hold on to, you can work out a plan with HR (iirc). For 80% of people the hope is McKinsey is a jumping off point to do something bigger or better and wherever that is allows you to trade stocks. Coming out of school being able to trade stocks is not a big part of my job decision process.
Rising Star
Great question. I did the rough math when i joined a few years ago:
1) For the consulting track, YoY compensation increase is ~20% in the first 8-10 years (eg, fresh out of college gets paid $90k while new partner gets $700K).
2) Simply putting money in index fund or robo advisors (Betterment, Wealthfront) can get 6-8% return every year
3) Most people who trade stocks cannot outperform the market (as mentioned above). Just look at the average performance of all hedge funds.
4) Even assume I can outperform the market by 10% consistently and I have $500K of principal to invest in (both are aggressive assumptions for early career people), I get an extra $50K a year. But it takes enormous time and energy to do so. I’d rather get more sleep and focus on my job when I’m awake, get a promotion with a $50k compensation jump (which builds into my baseline cash flow every year)
The math will start to change if my investment base grows (say $2M) and compensation plateaus (say 3% a year). This won’t apply in the first 10 years of career
Yeah 98.9% I got lucky this year. I was only bringing in 20k-30k normally 14-28% the last few years but with less capital invested
Pro
What is CGI?
I'm confused. What's McKinsey have to do with cgi
Because you can still buy indexes and outperform most active traders year over year anyway? Same reason why you would work at FAANG but can't trade FAANG stock openly
Chief
Bruh, do you even know what you’re talking about?? I rather work at McK than CGI. Trade restrictions are so common wym?? B4 has so many restrictions too. You’re making us look bad bro. It’s a no from me 🙅
Chief
OP also ETFs are a better option than individual stocks. I don’t know why you’d be hung up on being not able to trade stocks.
Pro
Lol
Because most people trading stocks don’t outperform ETFs anyway, and you’re working for McKinsey. They get really interesting cases, with the best companies, they get paid incredibly well, and they have amazing exit opportunities at which point they can trade whatever stocks they want. Or they stay at McKinsey and make partner, and I don’t think they see the stock restrictions as a big trade off at that point. Other firms have the same sorts of restrictions, and honestly I’m surprised it’s not more prevalent in the industry. The opportunity for insider trading is way too high, so I’d be curious to know how some firms get away without having extensive restriction lists?
That makes sense. And MBB do a lot of PE work... so more scrutinization, and hence our trading restrictions.
Pro
The key value this post has brought the world, is confirmation that we’re currently in a stock bubble.
Put your sell stops in now. I thought we would drop by now
Not the best comparison in firms. Two different players in the market that have different value propositions.
Most people that exit CGI at the leadership level end up being a Technology C level at a prestigious large organization. Whereas MCK folks end up in the other C level roles. I believe the exit opp are getting a lot better than what it used to be.
In regards to compensation, if you're Director- Expert (equivalent to Engagement Manager at MKK) there isn't a specific range. Ive seen people who make anywhere from $130-200K based on how good you negotiate, inclusive of stock benefits, allowances...etc anything higher in role will only equate to more $$ and benefits
C3 - Not sure it’s sad, but it does reflect a specific set of tradeoffs. The WLB vs comp tradeoff you described is very relevant and I’d expect a variety of opinions/choices in this forum on that dimension.
Chief
Why would you work at one of the most prestigious consulting firms, with incredible exit ops, outstanding comp, and nominally interesting projects with smart people? Tf is this question?
^ This was a more indulgent version than I planned to give. I applaud your patience McK2.
Investing 100k/yr in ETFs, index funds, or individual equities with restrictions beats investing 20k/yr unrestricted.
Pro
I worked with CGI on one project, and I gotta say, it was the worst professional experience I’ve had in my whole damn life. So, McKinsey has that going for them, which is nice.
I don’t have the interest to commit enough effort to the stock market to outperform indices so I would have invested in ETFs anyways
They have a blind fund that trades for you and does pretty well or so I've heard
What is CGI? Are they part of the stimulus package?
Because the McKinsey investment fund has $10B AUM