Top MBA Recruiters: Goldman Sachs
As one of the largest lending, securities, and investment management firms in the world, Goldman Sachs (GS) sits in the top tier of the Fortune 500. The global firm, headquartered in New York City, was founded in 1869 by Marcus Goldman. Samuel Sachs, Goldman’s son-in-law, joined the firm in 1882. Over the next decade, GS evolved into a provider of commercial paper for those starting businesses, and in 1896 it entered the New York Stock Exchange.
Continue reading…Where Should I Work? Boston Consulting Group vs. McKinsey
Whether you’re still in school or you’ve already earned your MBA, it can be a tall order to shuffle through the sheer numbers of job options. Perhaps you’re even fortunate enough to have a number of offers that seem appealing but you’re wondering how to find the best fit.
If you’ve chosen to specialize in consulting, you’re well aware that you’ll be on a large playing field comprised of multiple heavy hitters. Here, we’ll compare two of the biggest draws—Boston Consulting Group (BCG) and McKinsey and Company—which may be helpful in honing in on your dream job.
Where Should I Work? BCG vs. McKinsey
BCG vs. McKinsey: The Interview Process
Regardless where you’ve applied, chances are you’ve readied yourself for an intense interview. No interview is without its stressors, but both McKinsey and BCG are known for a particularly rigorous interview processes. These companies engage potential employees in a two to three round process that includes both a fit and case portions (that is, are you a good match with the company, and can you solve real-world problems with which you’re presented). As discussed in this helpful guide on BCG interview prep, you’ll first be posed with case and fit questions, along with a test of your potential which often takes place in the first round. Candidates are then asked to complete written case examinations, in which they will review a number of documents and submit a response to the case in question.
Like BCG, McKinsey’s interview process can last two-to-three months. According to one source, one of the major differences between the two is that “McKinsey pressure tests to determine whether handling pressure is something you can do … [while BCG] pressure tests not to see if you know what you’re talking about, but rather to see if you really believe what you’re saying.”
McKinsey breaks down its process into three main sections: experience, a multiple choice problem solving test (PST), and case studies. According to one interviewee, “I interviewed with multiple people ranging from engagement managers to partners. No surprises on interview day as McKinsey spends a lot of time with applicants preparing for the case study.”
BCG vs. McKinsey: Compensation
Both companies offer a healthy starting salary with a base of at least $165,000. At McKinsey, recently hired MBAs can make above $200,000 in the initial year, with a $30,000 signing bonus and a performance bonus of $35,000. BCG boasts a performance bonus of up to $45,000, making it the more lucrative of the two for first year hires. Typically, McKinsey sets the standard for salary, and beats BCG to the punch in increasing salary rates.
| Company | Annual Salary | Bonus | Singing Bonus | Total Compensation |
|---|---|---|---|---|
| Boston Consulting Group (BCG) | $167,000 | $45,000 | $25,000 | $237,000 |
| McKinsey and Company | $165,000 | $35,000 | $30,000 | $230,000 |
While responsibilities at each firm are similar for a newly hired MBA, job title varies slightly. At McKinsey, the title is Associate, while at BCG it is Consultant. Finally, for further comparison, McKinsey and BCG and Bain (the other third of the Big Three) pay around 20 percent more than the “Big 4” accounting firms.
BCG vs. McKinsey: Culture
For many people, culture is the deciding factor when choosing between two potential companies. It can be one of the most important elements of a job, over and above the more tangible benefits. According to Management Consulted, at McKinsey, associates “are trained to attack a problem in a certain way – no matter which global office you’re in or at what level, you can count on the McKinsey Way.” According to many, McKinsey’s culture is considered formal and “buttoned up.”
As for BCG, one employee describes their experience as follows:
“Lovely people and flat leadership structure allows for a great culture that promotes camaraderie and encourages learning between peers and from people above you.“
Another employee sang the praises of its “fancy offices.” The company is known as a trendspotter, and has the reputation for a customized approach to getting and retaining clients. McKinsey is known for its lengthy client relationships and a focus on reporting.
Company retreats are the norm for McKinsey, with many of its global offices taking part in a strong, welcoming culture.
BCG vs. McKinsey: Geography
BCG and McKinsey’s home offices are both in the U.S. (Boston and New York, respectively) and both have global presence. McKinsey has the most offices worldwide at 65, and the largest number of consultants. BCG’s global reach covers 50 countries. New hires can expect to travel extensively at both companies, with the expectation being four days of travel to client sites and Fridays in the home office.
BCG vs. McKinsey: Career Development
Both firms adhere to the ‘up or out’ rule of promotions, that is, after two years one decides whether they will stay or depart. Upon remaining at BCG, employees find a large number of opportunities for professional growth. Top performers receive rewards such as a part in a strategic project along with their international counterparts.
According to their site, “Every new BCGer is hired with the belief that he or she will be a long-term employee, capable of substantial professional and personal growth within the firm. We recognize and value each individual’s desire for world-class opportunities.”
“Every new BCGer is hired with the belief that he or she will be a long-term employee, capable of substantial professional and personal growth within the firm. We recognize and value each individual’s desire for world-class opportunities,” the company says.
At McKinsey, associates are assigned early on to specific practice areas. With two tracks, a subject expert and a generalist tract, the company encourages employees to be flexible in acquiring new knowledge and skills that will help them to grow. Notably, McKinsey encourages applicants to join the company who may have gotten an MBA but who have a prior non-business degree. According to Management Consulted, “If your education and/or work experience is ‘outside the norm,’ McKinsey is more likely to consider you than BCG”.
Both McKinsey and BCG are ahead of the curve in assigning new hires to specialty areas, as many firms wait until hires advance to senior levels to assign their practice focus.
BCG vs. McKinsey: Recruiting
McKinsey, as mentioned above, was one of the first management consultants to hire recent graduates of MBA programs as opposed to seasoned managers. They continue to engage in this hiring practice, as does BCG but to a lesser degree. Both firms hire on a locked-in schedule, with recruiting cycles beginning in the fall. It’s important to note that existing consultants have a greater influence upon hiring decisions than recruiters.
BCG notes that “Our case teams share many similarities with MBA study groups, brainstorming together to create maximum value.” Though their hiring process is rigorous, once they do hire, the possibilities are numerous for growth potential at both firms.
While it may seem obvious, it’s important to point out also that alumni from either company have a great chance of future growth at other firms.
The 5 Top Paying Tech Companies for MBAs
Everyone knows business school costs a pretty penny, which makes ROI one of the major deciding factors when pursuing both an MBA program and post-graduation employment.
At one point, MBAs were practically personas non grata in Silicon Valley. Today, tech is on par with traditionally lucrative fields of banking and finance in terms of MBA employment—likely due to the whopping salaries associated with the industry. IT management positions, for instance, boast a reported average salary of $113,000 USD.
5 Top Paying Tech Companies for MBAs
After being outpaced by Apple in the early part of this decade, Microsoft has made an impressive comeback in recent years. In addition to software development, the company has made significant strides in cloud computing, AI, cybersecurity, and gaming as well. Microsoft employs MBAs in a wide variety of positions with mobility across the company and no set career path. The company’s reported average starting salary is $116,473 and total compensation is even higher. Microsoft also boasts a better employer satisfaction rating than most of its high-paying tech peers.
Google has leveraged its access to user data in order to become a dominant force in online advertising technologies and cloud computing. The online search titan is known for its frighteningly competitive application pool and in-depth hiring process. For the MBAs that make the cut, the average starting salary of $121,979. Positions include sales and marketing, product management, finance and operations.
IBM recently made headlines when it acquired open-source software firm Red Hat. Whether or not this historical corporate buyout will help IBM get a leg up on the cloud computing market share, the company nonetheless offers MBAs an average starting salary of $124,714. With leadership development tracks for MBAs in consulting, product management, finance, and strategy, they can also opt to pursue the General Manager Leadership Development Program, designed for “top MBA graduates from leading global universities hired into IBM on an accelerated path to General Management leadership.”
Despite the Cambridge Analytica scandal’s huge blow to consumer and investor confidence, Facebook’s market share rebounded in just a few months after the news broke. The social media torchbearer continues to steadily grow its user audience and tally of digital tech company acquisitions. The common path to employment at Facebook is through its internship program. With an average starting salary of $126,292, potential MBA hires will need to be ready to develop relevant, hands-on leadership skills in order to take on the increasing AI and AR/VR focus of this company.
As the commanding leader of online retail sales in many parts of the world, not to mention major competitor in cloud computing, media streaming services, and mobile devices, Amazon is one of the top employers of MBAs across all sectors. Amazon offers multiple pathways to management, from mainstream internship opportunities to dedicated programs that groom MBAs to take on specialized leadership positions within the company. With a reported average starting salary of $123,970, Amazon shows no signs of slowing down when it comes to recruitment. The company’s income tripled from 2016 to 2017 and it consistently reinvests most of its money, which has spurred rapid, continual growth.
Searching for the World’s Top MBA Recruiters: Comcast
Ever year, new MBA graduates are entering the workforce, and companies throughout the world seek new ways to benefit from their educational experience and knowledge. Major companies like the Comcast Corporation seek young professionals to contribute their talent to the company in a number of different ways.
Based in Philadelphia, PA, Comcast is a telecommunications conglomerate that has been taking over the globe since its founding fifty-four years ago in Tupelo, Mississippi. From internet provider to producers of feature films through the NBCUniversal (another one of our favorite MBA recruiters) division, Comcast has an expansive number of markets it can reach.
Today, Comcast makes more than $19.7 billion in media revenue, 88 percent of which comes from its NBCUniversal division. The remaining revenue comes from its cable business and from ownership of the streaming service Hulu. As of December 2016, Comcast employed 153,000 people among its various divisions. Ever looking to expand its reach, Comcast offers a number of opportunities for ambitious MBAs to gain experience and start careers at one of the world’s top media conglomerates.
Why Work at Comcast?
The appeal of working at a company like Comcast can be seen in the numbers: close to one million people have applied for a job at Comcast or one of its divisions every year since 2012. One reason may be the diversity in the kind of work one can do at the company—from creating new television shows to creating new apps and innovative products. With roughly 2,000 positions available at any given time, Comcast is always seeking passionate and entrepreneurial individuals who will help shape the company as it continues to grow and change.
Comcast also offers employees a number of opportunities to grow in their careers and at the company. Valuing teamwork, creativity and entrepreneurship, the company is always looking to empower individuals that represent these features and provide opportunities for them to use their talents in more ways.
Getting Started
Current MBAs looking to get their foot in the door at Comcast have a couple of different ways to do so. Students in the first year of their MBA program have the chance to pursue an internship at the company’s headquarters in Philadelphia. The preferred candidate for this specific internship would be between their first and second year of an MBA program, and have more than five years of professional work experience. Internship focuses for MBA students can occur in a wide variety of fields, including:
- HQ Functions
- Video Business Unit Strategy
- Internet Product Strategy
- Sales & Marketing
- Marketing Intelligence & Insights
- Corporate Strategy
- Integrated Talent Management
MBA students in their second year may also pursue a slot in Comcast’s MBA Rotational Leadership Program, which offers individualized placement into career-accelerating positions after a two-year rotational period. Students will have the ability to work on critical business projects in a variety of areas within Comcast and NBCUniversal, receive exposure to senior leadership through projects and development sessions, and gain access to mentorship through the programs cohort structure and interaction with peer advisors, mentors and program managers.
The ideal candidate for the MBA Rotational Leadership program has more than five years relevant work experience and a track record of academic excellence. The perfect MBA for this role must be a self starter, communicate effectively, and be passionate about innovation.
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What Types of Jobs are Available?
MBA students and graduates applying for jobs at Comcast after earning their degree will find a number of opportunities available. Here are just a couple roles currently open for MBA students and graduates:
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Director of Contracts Management — Technical Operations
The Director of Contracts management will be responsible for the drafting, evaluation, negotiation, and execution of all types of contracts. The director will monitor all contract work to ensure progress, assist in the training and development of a qualified frontline staff and manage the outsourcing of contract drafting and negotiations. The estimated salary for a Director of Contracts Management is between $98,000 and $144,000 per year, according to user statistics provided by Glassdoor.
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Pricing Analyst
The role of Pricing Analyst at Comcast helps to provide insights to the finance and marketing departments to make decisions for pricing in the Comcast Business division. The person in this role will use business analysis to help gather data and create reports that can help provide business leaders with continued recommendation leaders. The role requires a deep understanding of operational processes, marketing strategy, and strong interpersonal communication abilities.
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Senior Business Operations Manager
Currently open for applicants in the Philadelphia and New York City metro, the Senior Business Operations Manager role with FreeWheel, Comcast’s premium distribution advertising company, is part of the team “responsible for monitoring and providing insights into the health of the overall business.”
The role typically requires six or more years of professional experience and an MBA degree is preferred for the specific responsibilities of the position. According to user statistics provided by Glassdoor, Senior Business Operations Manager tend to make close to or more than six figures per year in the U.S.
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Director, Strategic Analytics
This role, currently open in the Philadelphia metro, unsurprisingly requires a lengthy and comprehensive understanding of business analytics, down to requisite knowledge of tools like R, SAS, and SQL, as well as 10 or more years of professional experience in the fields of computer science, finance, marketing, statistics, economics, and other related fields. Like the Senior Business Operations Manager role mentioned above, an MBA degree is not explicitly required, but Comcast notes it is “strongly preferred” for the position.
Check out more of Comcast’s currently open positions for MBA students and graduates today.
