Hi Everyone,
I was wondering about the difference in career progression (in terms of how quick it is) and compensation between an experienced hire analyst (non-business analyst, e.g. power analyst) and a fresh grad business analyst at Mck Europe.
Why non-business analysts at MBB need to have experience in a related field (2-3 years of experience) while business analysts are normally fresh grads?
Hi there,
generally speaking, career levels, general tenure per level and comp per career level are standardized & fairly linear for MBB firms, including McK - geographic differences may apply, of course.
When you talk about fresh grad vs experienced hire - all it means is that they enter the firm at a different career levels and then fall into the generally applicable compensation scheme for that level.
While progression in general follows a standard pattern, experienced hires also may sometimes join the firm with some tenure credit within a certain level, to account for their perceived maturity / relevant experience.
Regarding your second question - naturally, higher (i.e. more senior) career levels require more work experience. So if you want to enter a higher level, obviously the maturity expectation is different so you will need to bring a level of experience to the table that's comparable to have gone through the subordinated consulting roles.
If you have specific questions about how exactly it works at McK or other firms, feel free to reach out via PM.
Cheers, Andi
Hi there,
Interesting question.
In short, I'd say career progression is faster on the regular generalist BA track. It's rather streamlined, clear and it represents the bulk of what the firms do. For specialist analyst roles these tend to depend more on how each practice works, what are their needs, internal politics, etc.
Then in terms of you second question, specialist analysts actually require content knowledge to do their job well (e.g., if working in oil & gas you'd need to know how the industry work in detail) whereas generalist BAs function mostly on their raw skills and are supported on the knowledge side by the rest of the team (plus they acquire knowledge themselves long-term).
Hello!
This topic is changing almost monthly, and the tendency is to have careers more or less parallel in MBB.
However, it´s worth deep diving case by case. This is an excellent question that you can leverage to network and put your foot on the door, either with HR or consultants. I would advise you that.
Hope it helps!
Cheers,
Clara
Hi there,
If you enter at the exact same level, then there is no difference in career progression. If you start as a Senior Analyst or Junior associate, of course this changes thing.
But if you are coming in as an analyst and that is your title, then you are at the same level playing field as the others!
Career profession is similar but tends to be faster on the generalist vs expert track. The 2-3 years of experience is crucial when you are hiring analysts on the expert track. Compensation tends to be similar but a wider range for analysts in the expert track due to prior experience/compensation level.
hi there,
both jobs will be in the same field (Knowledge) the progression path timing will be similar (obviously depending on the position), the difference will be in the autonomy on the case work.
Lucie
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