Apr 30, 2024 02:55 PM IST
McKinsey spends heavily on its learning and development programs instilling great analytical skills in its employees.
Fortune reported that 17 Fortune 500 CEOs were McKinsey alumni in 2023. Some of the big names include Google’s CEO Sundar Pichai, Liberty Media chairman John Malone, former Meta Platforms COO Sheryl Sandberg, ex-Morgan Stanley CEO James Gorman, and Louis Vuitton executive Delphine Arnault among some top names who’ve worked there.
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Graham John Ward, an English theologian who has been Regius Professor of Divinity at the University of Oxford, said last year that McKinsey spends heavily on its learning and development programs instilling great analytical skills in its employees, because of which it has earned its status as a CEO factory.
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Ward, a former head of European equities at Goldman Sachs working at France’s INSEAD business school now said, “McKinsey partners have three things going for them — they are deeply analytical, have broad industry coverage by getting parachuted into customer service teams in a variety of situations and a massive internal investment in their learning and development.”
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According to reports, the firm had overhired in recent times, with rising interest rates causing client demand to dry up. Also, as per a Wall Street Journal story from last year, some prominent consulting firms are paying their staff $175,000 to sit around and do nothing because there isn’t enough work for new hires.
Department of Justice is looking into the management consultancy’s past advice to opioid companies on sales tactics, which is why it is being looked into criminally, according to a Wall Street Journal story published on Wednesday.
The “Big Three” firms have already drawn criticism for some of its past work, which included advising Enron and assisting the government of Saudi Arabia in diversifying its economy.
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