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This is basically what every McKinsey Engagement Magager does after 1 year on the job, and the firm is happy with it.

• ucaetano 8y ago
  The difference is that McKinsey (and other consulting firms) rely on the network of alumni to secure new projects. So those people aren't (usually) leaving to a competitor, but mostly to a current (or possibly future) client. Same with law firms, auditing firms, etc.
  • maxxxxx 8y ago
    That's really good strategy. Is there another industry where you could apply this method? Hire young people for cheap and then let them move to future customers for high salaries. I guess it may work for somebody like Oracle: Hire young devs and after a few years let move to customers who pay them well as experts who then buy Oracle products.
    • ucaetano 8y ago
      Pretty much any professional services and consulting. > Hire young people for cheap and then let them move to future customers for high salaries. Well, consulting salaries are usually significantly higher than industry salaries. So it is actually the opposite. People move out of consulting because of the stressful hours and the up-or-out culture. Additionally, as you progress, the work goes from IC to project management then to client management (as a principal) then to sales when you become a partner. They tend to make less money when moving to industry (not always) and work fewer hours, and travel less too.
• seem_2211 8y ago
  McKinsey probably have the most analyzed, overdeveloped and optimized system to run a business in the world. Bring people in on the cheap (partly because they're being paid in prestige), fly them around the country on miles you've prebought, work them really hard for a few years, and nurture them as they move on as future customers seems to be working out pretty well for them.