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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
by 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 agoThat'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 agoPretty 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.