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Réka

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3

MBA sponsorship and post MBA options

1) Can I get scholarship from business schools AND sponsorship from McKinsey? I want to return post MBA, but don't want to have the burden of a full tuition loan to pay off in case I decide not to return.

2) Can I change track post MBA or do I have to join as associate? for family reasons I would highly prefer not to travel as much, but that will be hard to avoid as an associate.

3) if the firm decides to let me go because of poor performance before I manage to stay long enough to "pay off" the sponsorship, do I have to pay back the remaining amount to the firm?

1) Can I get scholarship from business schools AND sponsorship from McKinsey? I want to return post MBA, but don't want to have the burden of a full tuition loan to pay off in case I decide not to return.

2) Can I change track post MBA or do I have to join as associate? for family reasons I would highly prefer not to travel as much, but that will be hard to avoid as an associate.

3) if the firm decides to let me go because of poor performance before I manage to stay long enough to "pay off" the sponsorship, do I have to pay back the remaining amount to the firm?

(edited)

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Book a coaching with Réka

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Hi Anonymous,

Let me share my experience - please note that the contracts by office might be quite significantly different though:

1) I haven't heard of anyone who had a partial funding by McKinsey (most likely because those who apply to MBAs with company sponsorship are not even considered for scholarships), but I believe it is a matter of personal negotiation, so might be worth discussing it with your office manager.

2) No, typically 2 full post-b-school years have to be spent as a generalist consultant. You can delay or pause the 2 years to go on a rotation/secondment/leave/maternity etc., but you have to have 2 years of generalist consulting tenure in total post MBA.

3) Not sure about this, my hunch would be yes, you'd have to pay back the amount (or at least part of it, depending on how much you have worked post MBA already). Again, there is always room for personal negotiations. I believe the company will always aim for finding a mutually acceptable solution rather than going to court.

I hope it helps!

Best,

Réka

Hi Anonymous,

Let me share my experience - please note that the contracts by office might be quite significantly different though:

1) I haven't heard of anyone who had a partial funding by McKinsey (most likely because those who apply to MBAs with company sponsorship are not even considered for scholarships), but I believe it is a matter of personal negotiation, so might be worth discussing it with your office manager.

2) No, typically 2 full post-b-school years have to be spent as a generalist consultant. You can delay or pause the 2 years to go on a rotation/secondment/leave/maternity etc., but you have to have 2 years of generalist consulting tenure in total post MBA.

3) Not sure about this, my hunch would be yes, you'd have to pay back the amount (or at least part of it, depending on how much you have worked post MBA already). Again, there is always room for personal negotiations. I believe the company will always aim for finding a mutually acceptable solution rather than going to court.

I hope it helps!

Best,

Réka

Book a coaching with Clara

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Hello!

  1. Yes indeed, PM me if you want to know more info about it
  2. You can also change
  3. I have never seen this happen tbh :)

Best,

Clara

Hello!

  1. Yes indeed, PM me if you want to know more info about it
  2. You can also change
  3. I have never seen this happen tbh :)

Best,

Clara

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1) This seems highly unlikely for 2 reasons.

First, I don't know anyone who went to McKinsey from MBA and received tuition reimbursement. This isn't a thing at McKinsey as far as I'm aware. Furthermore, even the companies that do do this (such as Deloitte), only do so for the 2nd year.

Secondly, when/if this is included in the offer, you have to prove that you paid full tuition. They do not re-imburse tuition if you didn't pay tuition!

2) I'm sorry but, you cannot avoid travel at MBB. It doesn't matter your role. So, before going in, have the full expectation that you will travel Mon-Thurs every week of the year. Furthermore, if you're recruiting from MBA, your role will be Associate (or possibly higher). You cannot come in as BA

3) You 100% have to pay back the full amount. Signing bonuses are normally for 2 years and you have to pay back the full amount if you leave the company for any reason. Sometimes contracts allow for 1 year vesting of the offer...I highly encourage everyone to work towards this in negotiations.

1) This seems highly unlikely for 2 reasons.

First, I don't know anyone who went to McKinsey from MBA and received tuition reimbursement. This isn't a thing at McKinsey as far as I'm aware. Furthermore, even the companies that do do this (such as Deloitte), only do so for the 2nd year.

Secondly, when/if this is included in the offer, you have to prove that you paid full tuition. They do not re-imburse tuition if you didn't pay tuition!

2) I'm sorry but, you cannot avoid travel at MBB. It doesn't matter your role. So, before going in, have the full expectation that you will travel Mon-Thurs every week of the year. Furthermore, if you're recruiting from MBA, your role will be Associate (or possibly higher). You cannot come in as BA

3) You 100% have to pay back the full amount. Signing bonuses are normally for 2 years and you have to pay back the full amount if you leave the company for any reason. Sometimes contracts allow for 1 year vesting of the offer...I highly encourage everyone to work towards this in negotiations.

(edited)

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