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McKinsey Solutions / New Ventures

McKinsey NewVentures
New answer on May 27, 2020
3 Answers
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Anonymous A asked on May 27, 2020

Hello,

I have recently received an offer from McKinsey as an experienced hire (senior analyst) in one of the McKinsey Solutions (previously called New Ventures). It is a combination role where I will spend 50% of my time on client engagements and 50% of my time working on internal models and analytics within the Solution. I have also been told that the 50% of time I can be staffed on client engagements could be any projects that generalist consultants could have been staffed on within my area of expertise. The roles also follow the same hierachy e.g. Analyst, EM, AP, Partner etc.

Could anyone share some additional information on these type of roles please? I have some specific questions below:
1) Are remunerations the same as the generalist track per level?

2) Are promotions as frequent?

3) Are exit opportunities as good?

4) Is there any flexibility in terms of transferring into the Generalist track further down the line?

5) Would I still be eligble to the same perks as a generalist e.g. sponsored MBA

(edited)

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Clara
Expert
Content Creator
replied on May 27, 2020
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

A very good friend of mine in McK transitioned to something very similar (as EM) and he is very happy with the decision.

To your points:

  1. Yes, this part is comparable
  2. Yes. Also it´s a very rapidly scaling business, which can be even better.
  3. Yes, but in the segment that you have specialized, of course. Hence, less options than for a generalist.
  4. This honestly I don´t know, but I suppose so, as long as your performance is good.

Hope it helps!

Cheers,

Clara

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Réka
Expert
updated an answer on May 27, 2020
3+ years McKinsey consulting experience|Strategy @ Coursera |Oxford MBA

Hi A,

1) As far as I know the remuneration packages are not the same, but your working hours and lifestyle are more sustainable (less travel, less client work).

2) Career progression is a bit slower, too, especially after manager level.

3) It might be a bit more difficult to find great opportunities outside of your expertise area, since you haven't had the generalist training. However, you'll have good exit opportunities within your area of expertise.

4) Yes, it is possible, I've seen people transferring from one track to another. But it certainly does not happen automatically, you will have to build good relationships with seniors on the generalist track.

5) The overall package is different. I have seen a few colleagues from the Solutions teams doing MBAs, but it's not as common and I suspect those folks who did MBAs were top performers within their cohorts.

I hope it helps!

Best,

Réka

(edited)

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Anonymous A on May 27, 2020

Thanks Reka, extremely useful

Anonymous replied on May 27, 2020

Agree with Reka

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Clara gave the best answer

Clara

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