- McKinsey's hiring process is competitive — of the 800,000 job applications the firm received in 2018, only 8,000 people got offers.
- Business Insider spoke with two recruitment directors at McKinsey, and they both shared that one effective way to stand out in the applicant pool is to emphasize your soft skills, or your ability to negotiate and build relationships with business partners and colleagues.
- Here's how to showcase your personality and leadership skills during a job interview at McKinsey.
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You have about a 1% chance of landing a job at McKinsey.
In 2018, McKinsey & Company received 800,000 applications, but only 8,000 people got offers, the company shared with Business Insider.
While many applicants have impressive backgrounds, one thing that separates the candidates who are hired for a full-time job at the consulting firm is a well-rounded set of soft skills, recruiters told Business Insider.
The 94-year-old firm sets the bar high. Like other top-notch consultancies such as Bain & Company and Boston Consulting Group (BCG), McKinsey has a reputation for bulk-hiring MBA students. These three companies alone are responsible for hiring nearly 30% of this year's MBA class from INSEAD, a top business school in France. Moreover, about 40% of McKinsey's employees have graduated from business school, the company said.
The firm's MBA hires make a $165,000 base salary, a $41,250 performance bonus, and a $30,000 signing bonus.
To earn a coveted spot at the firm, applicants must show they have a problem-solving mindset, a keen interest in entrepreneurship, and interpersonal skills to negotiate and maintain relationships with business partners.
Business Insider spoke with Kerry Casey, McKinsey's director of recruitment in North America, and Caitlin Storhaug, McKinsey's global director of recruitment marketing and communications.
The recruiters shared that one of most common mistakes applicants make is that they focus too heavily on acing case exercises and they fail to prepare for the personal interview. Showcasing your people skills during the personal interview is what sets you apart from others, they said.
Showcase your problem solving skills but also have empathy
Every aspiring consultants should expect to showcase their ability to think on their feet and solve business problems. This skill is put to the test during case interviews. However, full mastery of the case round doesn't necessarily mean you'd be a fit for a job at McKinsey.
"Problem solving and analytical people do well here, but you can't just be amazing at problem solving," Storhaug said. "Being a consultant means you need to work with all the different teams from your client, and also all the different teams at McKinsey."
Casey encourages applicants to put more focus on their "aptitude for collaboration, team work, empathy, and leading others" because those are the qualities that make consultants successful, she wrote in an email to Business Insider.
Be a good storyteller
Consultants are essentially storytellers, and good storytellers are can successfully navigate business conversations with clients.
Morgan Bernstein, director of strategic initiatives at the University of California, Berkeley's Haas School of Business, previously told Business Insider that assigning books on storytelling can improve students' communication skills. McKinsey's consultants spend most of their days interacting with clients and presenting proposals. A core part of the job is keeping people engaged and helping them communicate effectively, she added.
"The best interviews we've had are conversations," Casey added. "I encourage candidates to focus prep time on practicing your story for the personal experience out loud. Practice with a friend and the more you practice, the more you'll feel comfortable with the way you are sharing your experience."
Demonstrate your entrepreneurial skills
In school, at work, and in life, we often share credit for projects and achievements and shy away from using the word "I." But in an interview setting, you should be giving anecdotes of your own personal achievements, Casey said.
The recruitment director recommended that you provide examples from when you led a team or used your entrepreneurial skills to build something from scratch. A management consulting job requires some creative thinking, and showcasing your ability to think outside of the box will help you land a consulting job.
"There is not just one way to be successful in interviewing or working at McKinsey," Casey said. "The best interviews are when our candidates share who they are beyond their resume."
SEE ALSO: 8 consulting firms where MBA students can earn more than $30,000 during a 10-week internship
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