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MBA sponsorship

MBA
New answer on Nov 30, 2023
6 Answers
8.7 k Views
Anonymous A asked on Feb 19, 2018

Is MBA sponsorship at MBB still commonplace? I’ve heard at McK you can choose to do MBA or be directly promoted - are there any benefits of either for your consulting career (except for the network and additional skills that come with MBA)?

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Cristian
Expert
Content Creator
replied on Nov 30, 2023
#1 rated MBB & McKinsey Coach

Hi!

It really all depends on the office.

Some came be outrageously generous (paying for your MBA / PhD without any strings attached once you've spent at least 2 years in the firm), while others would want you to return and work for at least 2 years regardless of your existing tenure. 

The most important question to ask is rather ‘Do you actually need an MBA?'

I've put together a resource on this that you might find helpful to read:


Good luck!
Cristian

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Retired
Expert
updated an answer on Feb 20, 2018
Former BCG interviewer

Sponsorship still commonplace yes (30% of class in US). Would definitely suggest to take opportunity to do an MBA if you are sponsored for the following reasons (besides networking you mentioned): break from work, opportunity to intern in different company and gain experience, you have a top X MBA on your resume which sometimes is a nice to have criteria for when you move out of consulting to prestigious companies.

If not sponsored, choice is up to you and points highlighted by others give you a great framework to think about it.

Hope it helps,

Andrea

(edited)

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Vlad
Expert
updated an answer on Feb 20, 2018
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School

Hi,

Indeed you can be directly promoted in McKinsey if you have a great performance (T+ or Distinctive depending on the office / country).

If you want to continue your career in consulting I see 3 benefits:

  • Network - potential project sales when you become a partner
  • You can take a 1-2 year break (and in many cases, you really need one)
  • Knowledge - depending on your interests top schools can provide you great knowledge and develop your business judgment
  • You can have an internship / work in parallel with some other companies / industries and try if its yours
  • If you don't look mature enough for an EM role MBA can help
  • Relocation opportunity to the country of your MBA / other countries. In many cases, it's easier to do via MBA rather than when you work in the Firm.

Pros of not taking an MBA:

  • You basically save 1-2 years of career growth
  • You still save a bunch of money
  • Opportunity costs - you earn your salary

It's up to you to make a decision.

Hope it helps,

Best!

(edited)

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Gaurav
Expert
Content Creator
replied on Feb 20, 2018
#1 MBB Coach(Placed 750+ in MBBs & 1250+ in Tier2)| The Only 360 coach(Ex-McKinsey + Certified Coach + Active recruiter)

If you have had 2-3 years of broad (working on projects across sectors, functions, geographies) exposure stint at Mck/BCG/Bain, then there are not many hard/tangible advantages of MBA. Especially if you are considering to continue in consulting post MBA.

- Knowledge/Frameworks/Approaches - Consulting is called 'extended MBA' for a reason. If you have worked on enough variety of projects in big firms, there is limited value add on this front.

- Career Progression within consulting - Don't see MBA adding too much value add. Will it accelerate the way forward? Don't think so. Will it help you change sector focus/office - probably, but if you are selected for MBA sponsorship, means you are a stellar performer, in any case you can apply for global rotation programs etc. MBA degree influence is minimal.

- Monetory considerations - Spending during MBA and opportuity cost of not working for 2 years means, its a significant monetory investment

HOWEVER soft benifits galore! Opportunity to network with diverse group of people, people coming from other regions, other walks of life definitely add a few perspectives to your thinking. And of course, the break from 2-3-4 years of grueling analyst lifestyle is a welcome one. It's a nice time to recharge your batteries and get ready for the EM->Partner roles.

Ultimately, it all boils down to your long term career strategy. Spend some time evaluating your options, do talk to those from your office who have taken MBA sponsrships and who have not. A clearer picture should emerge.

All the best. Feel free to get in touch for further guidance.

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B
Expert
replied on Feb 20, 2018
NOT AVAILABLE

Hey Anonymous,

Let me just build on top of Vlad's great points: some McKinsey offices/geographies are now actively promoting that their Analysts to progress directly to Associates (rather than the traditional through MBA progression) as far as you have a good performance - namely in the US and some offices in Europe!

And personally I couldn't underline more the reason about taking one/two years off, it's something you will definitely need!

Best

Bruno

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Osen on Aug 17, 2019

Hi what about Canada? How long before you get promoted from analyst to associate? Can you get promoted to engagement manager without an MBA?

Clara
Expert
Content Creator
replied on Nov 18, 2020
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

Yes, indeed, still common in most offices. However, the tendency is that more and more people choose not to do it anymore.

Cheers!

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Cristian gave the best answer

Cristian

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