Also kinda remember the bloke who used to crush natties…
needhelp Wrote: ------------------------------------------------------- > Wonder if Joey still posts? his cat Henry died a few months ago and we haven’t heard much since
needhelp Wrote: ------------------------------------------------------- > and when i asked the nature of the job they said, > we will solve problems or something like that. as > a young student i smelled rat. so i bailed. i am > very well positioned now and will not brag > further. i finished CQF last year as well. Like others, I’m also skeptical of this story. If you made it far enough in your McKinsey interviewing process, I’d think you would know who they were and what they stood for even if you’d never heard of consulting before the recruiting process. Also, what you describe above may have been something you interpreted but I don’t think an McKinsey employee would say something as wishy-washy as “we will solve problems” (at least through my experience going through their entire interviewing process and knowing about 50 people that are summering there or worked there before business school). Lastly, I’m pretty sure McKinsey wasn’t hiring you just because of your “analytical skillz” - they already have a ton of people with good analytics and analytical skills are just one of many things they look for during the case interview (and that’s not even talking about the “personal experience” component of their interview process) anyway, you seem like a good guy and all but something about that whole story seemed amiss, I’m not gonna lie.
^ I thought you have been here long enough to understand needhelp’s style?
ohai Wrote: ------------------------------------------------------- > Eh, whatever. It’s in the past, man. > > Anyway, what I’ve always wondered is… are there > FO/MO/BO type jobs at consulting firms? I mean, > there must be different tiers of positions, right? > Or is everyone just a “consultant” and they shove > all the menial work to the younger people? Yes, Mckinsey has a BO in India, that I know. Salary 10k USD per annum, 15k if you got tier 2 MBA, so you can guess, who is doing the really dirty work, “consultants” don’t do this data collection, data cleaning shit, that’s what it is for McKinsey atleast. I heard Bain also has such kinda office in India again, I asked those people what they do, and they were quite hesitant to call themselves “consultants”, but I guess that’s BO again, because you are paid only 15k USD per annum as starting salary if come from tier one undergrad school. And yes, these offices are “seperate” from their “other” offices where they fill top MBAs, or sometimes top undergrads!
needhelp Wrote: ------------------------------------------------------- > Geez, the point was consulting is a scam > especially management consulting. > > Being a management consultant is like teaching > bond trading. ‘Well genius if you know so much why > dont you do it yourself?’ > I’d go head to head with them on any > management discussion and beat them. > > WINNING! So basically in your first discussion you would pitch to your potential clients that the whole business model is a scam? McKinsey just won that deal. Winnings: 2) Charlie Sheen 1) McKinsey 0) needhelp
15k is an enormous salary for India. Try getting paid that much by a local firm here here straight out of school.
Dunno how we got on this subject from OP, but my bro & sis in law are looking into transferring to india in the next few months. She works at the BB bank, he does not. She gets her London salary in rupees. Plus house, plus servants etc. Lets call it GBP 60k / USD 100k for argument sake. All good. Her husband works for a charity in the IT department. Probably earns GBP 50k / USD 80k in London for that. So, the BB bank wants her to transfer and is willing to employ the hubby in new role. So deal on table. All good. The offer: GBP 15k / USD 25k. !!! !!! !!! Think it has been revised up to GBP 18k / USD 30k now. We were all a bit shocked at first, but what you are saying makes it sound more believable. I guess the hiring manager for him is in India, whereas her reporting line is in London. Weird situation though. Net - net on a global basis: down massively. On a country/COLA level: up massively. Not sure what their liabilities are in the UK as they sold their house but rent out a couple of others. Presume they will save on the outgoings big time so they probably gonna do the move. Apologies to digress from OP subject, but interesting story.
needhelp Wrote: ------------------------------------------------------- > Thanks JOE. > > I should have picked a less controversial topic > (e.g. federal funding for PBS/NPR) as a come back > post, instead of this. > Ahhh well, it happens. Welcome back, good to see you’re doing well.
I think strategy/management consulting could be interesting early in the career when you don’t mind dealing with team dinners all the time and living out of a suitcase still seems new and exciting. I think that consultants add value, it is just that much of what they have to do involves soft skills and managing corporate teams (think M&A integration, etc) where the tangible results are more difficult to quantify compared to investment performance.
I was a totally dumb kid and I was very proud of my actuarial pedigree. I was working with a recruiter. I don’t remember the details, pardon me. The recruiter had presented McKinsey to me as a company looking for someone with unusual talent. He said something to the effect, they look for people with all sorts of academic backgrounds who have a cutting edge. The markets were still pretty strong. Clinton was in the office. Monica was still in the office. I was oblivious to everything outside the actuarial world. I, and others, were being dined and wined by the big 3 actuarial consulting shops. Now please look them up and you will see that many of them are also in broader HR/management consulting. I was too dumb to duly analyze the Mck opportunity. Having said that, I don’t believe in Management Consulting but that’s my personal view and its not because I am not doing it. I dated someone at Bain – not very smart.
Pictures? You have pictures of the Bain chic?
Zesty Wrote: ------------------------------------------------------- > Pictures? You have pictures of the Bain chic? Wrong! Just wrong. Wrong question. WHat happened to this forum? I mis the old days. Right thing to say, and I am surprised nobody said it from post 1: Pics or it didnt happen!
needhelp Wrote: ------------------------------------------------------- > mo34 Wrote: > -------------------------------------------------- > ----- > > Did you ever get into the U.Chicago program you > > were talking about 2 years ago ? > > > They asked me to take more algebra, calculus etc. > which I thought was not fair given my background > so I opted not to do that. So because they asked you to take some algebra classes you decided to take the CQF instead of an MFE from U.Chicago, are you nuts ? That will be another one of those McKinsey decisions.
Now I remember, needhelp was our resident compulsive liar: age, education, jobs, and other stuff. Maybe next year he will tell us he’s turning down the GOP presidential nomination.
needhelp Wrote: ------------------------------------------------------- > I was a totally dumb kid and I was very proud of > my actuarial pedigree. I was working with a > recruiter. I don’t remember the details, pardon > me. The recruiter had presented McKinsey to me as > a company looking for someone with unusual talent. > He said something to the effect, they look for > people with all sorts of academic backgrounds who > have a cutting edge. OK, but didn’t you say in an earlier post that you were offered a position with them right out of grad school? That would mean that McKinsey connected with you while you were on campus. In fact, for those purposes, McKinsey doesn’t ever use external recruiters. Also, no disrespect to graduate students of any kind but I don’t think many of them have much of a “cutting edge.” McKinsey doesn’t look for potential associates as having a “cutting edge” – they’re too inexperienced professionally. A “spike,” perhaps (again, also a term internal to McK), but you generally don’t start to develop specialization until you’re approaching an engagement manager and you wouldn’t have been hired as an EM out of graduate school. > The markets were still pretty > strong. Clinton was in the office. Monica was > still in the office. I was oblivious to everything > outside the actuarial world. If this were really the case, I’m pretty sure such a level of oblivion would have been sniffed out during the interviewing process. Don’t know if you ever went through the McKinsey hiring process for real, but it’s no joke. McKinsey interviewers are trained to spot this type of stuff very quickly.
Muddahudda Wrote: ------------------------------------------------------- > Her husband works for a charity in the IT > department. Probably earns GBP 50k / USD 80k in > London for that. > > So, the BB bank wants her to transfer and is > willing to employ the hubby in new role. So deal > on table. All good. > > The offer: GBP 15k / USD 25k. !!! !!! !!! Frankly speaking this is actually a nice offer, USD 30k in IT means you have to have around 6-10 years of experience and graduation from a good school, or 4-5 years of experience and graduation from top engineering school. And this is for IT roles in big and reputed MNCs or BB banks, if you ar talkin about charitable trust, you can reduce it to half at least, small IT depts give starting salary of around 5-6 k USD. So this is not a bad deal though, whatever be the case he will be “highest paid” in IT dept of charitable trust at 30k, that I can confirm with reasonable certainty. On the positive side, having 100k USD salary+ bonus, here makes you king literally. And if she is paying taxes in indian rates… then it’s indirectly a hike in terms of tax saved, and another hike in terms of getting same things so cheap. Everything is great, if they doesn’t plan to waste money living in some really filthy rich posh multi millionaire’s localities like Colaba or Nariman Point, which is where all these BB banks have their head offices, in those localities you are below average even at 100k. Point is, in India you can feel rich even at 30k and feel poor even at 100k, all depends on the area in which you will live, even the best paid cricketers and movie stars doesn’t live in those localities, they live on cheaper localities, like Bandra… which is you can say, suburb of main city. I am saying this because lot of expats waste a lots of money living in such places, and end up having no savings and not being able to have the awesome time with an awesome salary. Btw, if they are interested in raves, Goa is just on neighborhood :-)!
And… Good quality POT is 1$ per gram, but if you have contacts it’s more like 1$ per 2-4 gm. Just for info… sorry to drag from OP :)!
numi - Are they also trained to overanalyze a seemingly tongue-in-cheek, anonymous internet post? Qui gives a sh!t about whether he’s telling the truth or not - it’s really not the end of the world (which apparently may be upon us).
f*ck if I know, and I can appreciate a good tongue-in-cheek as much as the next guy, but I’d advise our resident comedian to make things more incredible if that were the case…although, i must give credit where it’s due – the way things were going i would think there’s a good chance that the level of absurdity would start bordering on the hilarious