Landed in Mckinsey, what now?

Question

Hi all!

I have been an active user of this platform for ages, so I am here again with 2 questions.

1. How should I choose the best vertical/area to specialize in?
I do believe it would be amazing to specialize in a high growth vertical or consulting segment. Which would you say are the top 3 areas with the highest growth and attractive? (e.g., AI related matters? restructuring? xyz?).

2. How to maximize my earnings potential?
I am based in southern Europe, which means the average income is much lower than in other countries. Think of a starting salary between 40-50k. This is really nothing compared to what is earned in other countries (even adjusting for more expensive life standards). Therefore, what offices/regions could I go to maximize my earnings if I plan to be 4 years at max in the firm (maybe 2 + 2MBA + 2 more)? I assume it would be Dubai? Or is there any other golden spot out there to go to. If it was Dubai, could you please help me understand what the average salary of a 2-year consultnat in Mck may be there? Dont' refer to Glassdoor please :), I would like some insider information I know I can trust as a proxy.

Thank you all guys!

Answer 1

Hi there,

Congrats!

1. Definitely AI:

https://www.nytimes.com/2024/06/26/technology/ai-consultants.html
I would also consider other things when specializing, e.g., what are you interested in/passionate about
You do not need to specialize early on. You can but the expectation for specialization is not there until the late Sr. Associate/early EM level. Most new hires start off by exploring a variety of industries and verticals before finding their home, usually due to a mix of interest in the sector and great connections and friendships they have built

2. Earnings potential

In order to change your income, you would need to work out an office transfer. Merely working on projects in a different geography would not change your salary
Office transfers are possible but demand a bit of planning (use the search function for that - there is plenty of content on it)
Dubai would be a good location for earnings potential, yet I am not sure how big AI topics are there. I would argue they are mostly focused in company HQs in the US and Europe

3. Managing the job, promotions and lifestyle

Check out my book Consulting Career Secrets where I discuss how to get a good start, get promoted early, and make it a sustainable career; I also detail office transfers!

Cheers,

Florian