MCKinsey & Company, Bain & Company, and the Boston Consulting Group are synonymous for top management consulting firms. The Big three are the world’s largest consulting firms and offer MBA graduates lucrative salaries and cross-functional career in the business world.
With McKinsey and BCG planning to recruit a large number of MBA in 2021, the current year projects big promises for aspiring MBA consultants.
McKinsey to recruit record number of MBAs
The onset of the COVID-19 pandemic did not hamper the hiring process at McKinsey, though the recruiting efforts have now been shifted to online mode. In 2020, between March and December the company absorbed over 1500 full-time consultant hires and around 1,000 interns. Towards the end of the year, McKinsey had hosted 1,000 virtual recruiting events and 20,000 virtual interviews.
According to Brain Rolfes, McKinsey’s global head of recruitment believes that to increase their recruiting goals and anticipates that 2021 will witness the largest incoming class in McKinsey’s history. Around one-third of the incoming hires at McKinsey have MBAs, and the incoming batch of 2021 will also comprise of PhDs, JD and MD degree holders and industry professionals. As an MBA recruit, one is expected to work cross-functionally with colleagues from an array of backgrounds.
McKinsey prefers recruiting graduates from business campuses like Harvard, Stanford, Wharton, Kellogg, Booth, MIT, INSEAD and London Business School. The firm also considers liberal art schools and historically Black Universities and Colleges.
Though COVID-19 has upended the process of interview, Brain explains the truth of McKinsey recruitment that is true in case of a pandemic or not. He states that the interviewers are keen to find the most talented people in the industry, while helping them succeed and be coaches as much as interviewers. It is also a must for any aspirant to consider researching the company’s diversity efforts-covering roles, work and people.
Alongside the traditional management consultants recruited at McKinsey, the consulting teams in 2021 include data scientists and software engineers. The consulting firm is set with robust hiring goals in 2021 across the globe which will include generalist and specialist, junior and senior roles alike. Brian also urges aspirants not to be laid off by the virtual recruiting process. The firm has already recruited a wide array of consultants through the virtual onboarding process, who have now already begun working with the clients.
Bain to increase consultant hiring for 2021
Bain & Company plans on a global recruitment process that will intake over 700 consultants in 2021. The firm is also keen on hiring largest Summer Associates (SA) class with over 250 MBA level interns set to join globally.
Bain actively participates across the 20-25 top MBA programs in the world, and over 50-60 business schools’ graduates join the incoming consultant class every year. The pandemic has not impacted the hiring process of Bain & Company and according to Keith Bevans, Bain’s head of global consultant recruitment, the company is set to have the largest campus hiring for full-time and interns.
According to Keith, the MBA programs provide a huge source for talented, ambitious people. The incoming recruits will definitely host a diversity of backgrounds similar to the other three consulting firms.
BCG to expand recruitment process
BCG is planning to expand its hiring process across all job categories, practice areas and geographical locations to enhance the growth of the company, states Amber Grewal, managing director and partner of global recruiting for BCG.
The firm is keen on diversity of thought, educational and work experiences. The business school recruiting process serves right that, and provides candidates with multiple degree programs and majors.
The firm is in the process of having the largest hiring this year and is expanding the use of technology for the same. The pandemic has not had any impact on the process of recruitment.
Amber stresses on being true oneself and understand that BCG are committed to creating an environment that is diverse and inclusive.
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