Internship offers from both McKinsey and BCG

BCG BCG Internship Application and FT Application internship get the offer McKinsey Mckinsey internship McKinsey vs BCG
Bearbeitet am 11. Feb. 2023
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Anonym A fragte am 21. Dez. 2022

I have received offers for an internship from both McKinsey and BCG (Europe). I have already accepted an offer from BCG, signing an offer letetr (time pressure). Meanwhile, after two weeks got feedback from McKinsey. Ideally, I would like to do both (firstly BCG, later McKinsey with a break meanwhile), aiming to get know better the culture, exposure to projects etc. and see where is the better person-company fit. Hence three questions: 


1. Has someone had similar experience (considering acceptance of two offers), if yes, are there any confidentiality issues experienced from one of the companies? Will be talking to HR, but I would be thankful to hear an outside perspective. 


2. If doing both internships won't be possible, are there any consequences rejecting already accepted BCG offer (no clause about such consequences in a written offer). 


Thank you in advance!

(editiert)

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Francesco
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antwortete am 22. Dez. 2022
#1 Coach for Sessions (4.000+) | 1.500+ 5-Star Reviews | Proven Success (➡ InterviewOffers.com) | Ex BCG | 10Y+ Coaching

Hi there,

Well done on getting both offers, that’s already a great achievement!

In terms of your questions:

1) Has someone had similar experience (considering acceptance of two offers), if yes, are there any confidentiality issues experienced from one of the companies? Will be talking to HR, but I would be thankful to hear an outside perspective. 

You will most likely have confidentiality clauses in the contracts and there might be obligations not to work for competitors on projects you covered. You will find it in your contracts so I would check that first.

I would disclose the situation to HR for full transparency. There is nothing wrong with having two internships with two different companies if confidentiality and contract clauses are respected and periods don’t overlap, so there should not be issues with that, and I believe both companies will appreciate the transparency (in the end you should end in one of the two and being fully transparent would be a good start).

2) If doing both internships won't be possible, are there any consequences rejecting already accepted BCG offer (no clause about such consequences in a written offer). 

If there is nothing in the contract blocking you and the local regulation allows that, you are free to reject the offer. The only consequence in this case is that it might be more difficult for you to be considered again for a position at BCG in the future. However, that depends as well on how you communicate your decision.

Best,
Francesco

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Hagen
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antwortete am 22. Dez. 2022
#1 Bain coach | >95% success rate | interviewer for 8+ years | mentor and coach for 7+ years

Hi there,

First of all, congratulations on the offers!

This is indeed an interesting question which is probably relevant for a lot of users, thus I am happy to provide my perspective on it:

  • It is not uncommon for individuals to receive multiple offers for internships or jobs, and it is generally acceptable to consider accepting all of your options if time allows. Regarding confidentiality, unless there is a specific paragraph in your employment contract (very unlikely, especially for interns) preventing you from working for another strategy consulting firm, there is nothing additional to consider than regular confidentiality.
  • If you would like to do both internships, it may be worth reaching out to McKinsey and explaining your situation. You could ask if it would be possible to defer your start date or if they would be willing to accommodate a shorter internship period so that you can also complete the internship at BCG. It is important to keep in mind that both companies may have specific policies and procedures in place that you need to follow, and they may not be able to accommodate your request.
  • If you decide to reject the offer from BCG and pursue the internship at McKinsey instead, it is important to be professional and follow proper etiquette when declining the offer. You should inform BCG as soon as possible, thanking them for the opportunity and explaining that you have decided to pursue a different opportunity. It is also important to return any materials or documents that you received from BCG, such as offer letters or signing bonuses. From the experience of coachees and friends of mine, and contradictory to what others said, there will normally not be any consequences when backing out of a signed offer.

In case you want a more detailed discussion on what to do in your specific situation, please feel free to contact me directly.

Best,

Hagen

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Rushabh
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antwortete am 21. Dez. 2022
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Hello,

Here are my thoughts:

1) You will need to be transparent with both the firms and get their respective approvals, because non-compete is a major issue especially since you're working in the same geography

2) Withdrawing a signed offer is never recommended. You are saying goodbye to your chances of ever working at that firm again in the near future

3) You will have to handle the conversation very delicately with both firms because what you are implying is that you will be assessing both the firms during the internship and will choose the best fit. What if one of them gives you a full time offer earlier in the internship? Even though you have leverage here, don't come across as arrogant.

Hope this helps!

Rushabh

 

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Moritz
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antwortete am 21. Dez. 2022
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Hi there,

Well done and let me get straight to the point:

Has someone had similar experience (considering acceptance of two offers), if yes, are there any confidentiality issues experienced from one of the companies? Will be talking to HR, but I would be thankful to hear an outside perspective. 

Yes, I have seen this happening during my MBA, at McKinsey, and as a coach. There's no issues with confidentiality unless you breach it, as per the stipulations in the contract.

If doing both internships won't be possible, are there any consequences rejecting already accepted BCG offer (no clause about such consequences in a written offer).

Yes, you will loose any possibility to work for BCG going forward. This is important because you may want to e.g. if you don't get a FT offer from McKinsey after the internship.

My strong advice would be to try and arrange both and be transparent about it. This is important because you may do internship with Firm A first and get a FT offer extended, in which case it's good for them to know that you will be doing an internship with Firm B right after. You want to avoid getting a FT offer from Firm A with a short expiration date that forces you to renege the offer for the internship with Firm B, and Firm A would be unlikely to put you in this difficult position if they're aware from the beginning.

Hope the above makes sense and is helpful. Best of luck!

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Florian
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antwortete am 22. Dez. 2022
Highest-rated McKinsey coach (ratings, offers, sessions) | 450+ offers | Author of The 1% & Consulting Career Secrets

Hi there,

Congrats! That's a great achievement.

  1. That is not a problem at all and actually not that uncommon. You can check a couple of LinkedIn profiles with similar stories. No confidentiality issue if you stick to the rules and are open and transparent should it become relevant (e.g., if you would be staffed to a direct competitor during your second internship to the client you consulted during your first internship, it is your responsibility to raise this with staffing and not take on that engagement).
  2. This could burn the bridge long-term, however, as it is not a problem to accept both, you can disregard that.

All the best,

Florian

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Ian
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antwortete am 22. Dez. 2022
MBB | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep

Hi there,

I would think very very carefully before breaching a signed contract with BCG! That can be a “forever” burned bridge…

You *should* be able to both (especially since it's an internship and the whole point is to test the waters). You need to be open and transparent with them and make sure dates work out.

Congrats on a job well done - impressive!

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Anonym antwortete am 21. Dez. 2022

The one thing you will need to look for is a non-compete, meaning you may be prohibited from working for a competitor or working for the same sets of clients in a different firm (normally for a period of time)

You risk burning bridges with that BCG office if you decline an offer you already signed, which may hinder your chance of working there in future.

I would advise either doing both or only BCG – better to politely declie/me McKinsey and stay in touch in future rather than burn bridges with BCG. 

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Anonym A am 21. Dez. 2022

If I might have follow up question regarding the "non-compete", that period of time typically equals only to the duration of contract or time starting by signing the offer letter?

Anonym am 22. Dez. 2022

it starts on your first day of employment. When it ends will depend! Some contracts have them terminating after 6 months or more. I would check your contract. As an intern, it would be rare to have a non-compete lasting after your last day.

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Clara
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antwortete am 26. Dez. 2022
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

Congrats, wonderful problem to have :)

I would ask to spend 1 day with a team in both offices, to learn more about the culture and to see where you click best. 

The great thing is that both are wonderful options, and you can't go wrong with this decision. 

Hope it helps!

Cheers, 

Clara

 

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Sidi
Experte
bearbeitete eine Antwort am 11. Feb. 2023
McKinsey Senior EM & BCG Consultant | Interviewer at McK & BCG for 7 years | Coached 350+ candidates secure MBB offers

Hi! I have many mentees every year who receive multiple internship offers for from different MBBs. I have never seen anyone having an issue with doing both internships. And usually this is a great way to develop a very solid perspective on whether Consulting is actually for you, and which firm you want to join fulltime afterwards (80-90% of interns are usually offered fulltime positions afterwards in most markets).

Cheers, Sidi

_______________________

Dr. Sidi Koné 

(Former Senior Engagement Manager and Interviewer at McKinsey | Former Senior Consultant and Interviewer at BCG)

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Francesco gab die beste Antwort

Francesco

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