On a very high level, a rough average of all the Partners I met in almost 5 years in McKinsey, they'd work from 9 to 9 (12h) every day, with a potentially shorter day on Friday. However, there is a significant variability here. Here are some of the factors (among others):
Typically, 9am to 9pm are considered to be the typical 'core hours' at top consulting firms, with some variation on either side of the timeframe. On average, a standard number of hours a consultant can expect to work in a week is between 70 and 75, including lunch and travel time.
Same as all consultants, they are very busy - what's different from people at more junior tenures is that those typically have to accomodate to Partner's schedules. Meaning they have a bit more flexibility and control over when they will be busy. Very busy!
MBB consultants usually work 50-60 hours per week, most of it concentrated from Monday to Thursday.
McKinsey Partner & Director salary
McKinsey Partners and Directors in the US may earn up to $1,300,000 per year in salary, with a $1,000,000 base and $300,000 performance bonus.
If you begin your career at McKinsey, you can expect to be elected to the first stage of a partnership in five to seven years. The greater your professional experience, the sooner you can reach this level. The most senior position at McKinsey, you might be elected director come seven years after you are made partner.
The highest paying salary package reported for a Management Consultant at McKinsey sits at a yearly total compensation of $316,000. This includes base salary as well as any potential stock compensation and bonuses. The median yearly total compensation reported at McKinsey for the Management Consultant role is $227,000.
Most people take 10-15 years to become a Big 4 partner. And we are talking about working 50-70 hours a week as a standard! The reason why it can take this long are many: Big 4 partners need to normally build up a £2m+ client portfolio before they will be considered ready for partnership.
21. What kind of hours do you work? On average hours vary from 37.5 to 50 hours per week; I have worked one or two 70 hour weeks. It really depends on the project, manager you're working with, and client, and to some extent your own efficiency.
The typical length of time for consultants to stay at top firms like McKinsey, BCG or Bain is two to four years. Some statistics indicate that 2.7 years is the average length of time that a consultant works at a top management consulting firm before moving on.
As a partner, you are an owner of the firm, and just like that you build your own stake in it, hence you have a lot of freedom and flexibility about what you do and where you spent your time any given week (also what clients you want to develop).
Only a small percentage of consultants who join top consulting firms like McKinsey, BCG, and Bain make it to Partner. We estimate that around 5% of consultants rise to this level.
McKinsey reportedly receives more than a million applications per year and hires less than 1% of them. The Top 3 consulting firms are among the ten most selective employers in the world and it is notoriously difficult to receive a job offer.
McKinsey is incredibly supportive of dual career couples and of diverse journeys and paths.
McKinsey & Company's PTO and Vacation policy typically gives 20-30 days off a year with 67% of employees expected to be work free while out of office. Paid Time Off is McKinsey & Company's most important benefit besides Healthcare when ranked by employees, with 49% of employees saying it is the most important benefit.
Toward the end of my career in consulting, I have more and more life. I tried hard and had a very good plan to make it happen. Work-life balance at McKinsey truly exists!
How many hours do consultants work? While this varies by firms and nature of clientele, you'll be working at least 40 hours a week. Big 4 firms (Deloitte, KPMG, EY and PwC) average 40-50 hours per week, whereas MBB firms average closer to 60 hours per week.
This Big 4 career lab article, talks about Big 4 partner salary levels in the US ranging from around $300,000 a year to $3 million plus.
Deloitte has promoted Nicola Roberts, one of the firm's youngest ever partners, to the role of Head of Private Client Services. She is tasked with supporting the firm's key private clients in their respective areas of need.
Average age to make partner at a law firm
The most common age to graduate law school is between 25 and 28 years old, so the average age to make partner probably falls somewhere around 35 to 38 years old.
BCG pay has increased by 9% to a total of $270,000, while McKinsey MBA consultants earn the least with $267,000, though this still represents a 7% salary increase.
Two-to-three years out of an MBA program, McKinsey manager salary prospects are around $220-to-$240,000 in base salary and $100-to-$140,000 in bonuses.
McKinsey is the oldest and largest of the "Big Three" management consultancies (MBB), the world's three largest strategy consulting firms by revenue. It has consistently been recognized by Vault as the most prestigious consulting firm in the world.