McKinsey hiring is on the upswing again. The firm has its eyes set on hiring MBA students for full-time roles in larger numbers than ever before. The pandemic, which initially set off panic regarding a global recession, is likely to subside in 2021. But it has forced changes in how people work and accelerated the adoption of new digital technologies. These facts, combined with the economy’s quick rebound, have driven demand for McKinsey services even higher than before the pandemic.
McKinsey Increases MBA Recruiting Goals for 2021
McKinsey confirmed that it has increased its recruiting goals for 2021 and anticipates hiring the largest incoming MBA class in McKinsey’s history. However, not much has really changed in what the firm is looking for, namely: excellent problem solvers, great communicators, and team players. That said, the firm acknowledges that the business world has become increasingly technology driven (i.e., cloud computing, automation, Big Data, SAAS, AI, robotics). McKinsey now often combines teams of traditional consultants with data scientists and software engineers. Expect the firm to prioritize candidates that showcase an ability to work in diverse teams with people with diverse skill sets.
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What Does this Mean for Bain and BCG?
A rising tide raises all ships, and this is absolutely true here. The uptick in McKinsey hiring is an indicator that Bain and BCG are not far behind. The race for the best talent is on – not only within consulting, but between consulting, Big Tech, and Wall Street as well. With the increased competition, we anticipate a rise in compensation to follow by 2022. The implication for MBA students or recent grads looking to break into these top-tier firms is that now is the right time to invest in networking and case interview prep to land a job at one of these firms.
McKinsey hiring MBA students in record numbers is good news for the broader economy, and especially aspiring management consultants. The hiring freezes of 2020 are almost ancient history as consulting firms run full force to meet the greater-than-expected demand. Before applying to McKinsey, work with us on a resume edit, and make sure you are prepped for the case interview!
- Consulting Resume: Complete Guide
- Consulting Cover Letter: Ultimate Guide
- Case Interview: Complete Prep Guide