Has management consulting lost its shine?
I am an Ex McK BA, joined them out of B school 10 yrs ago. Met a few MBB folks recently and leart about their comp range which is significantly lower than tech ladder comp for most big techs. MBB use to pay top of market back in the days so i was surprised that an L5 PM for example makes as much as a Principle level management consultant at McKinsey, BCG or Bain. Are consulting companies not competitive enough now?
Why would an MBA grad take an associate offer when a PMT role pays 100K more?
It's only going to get worse with large language models. If an AI bot can perform data analysis, report writing and create business insights real-time, why would anyone hire an associate straight out of b-school ?
Associates are not hired because they add value. They are hired so that they can be trained such that when the current partners retire, the new class can take their place. Agree with your comment though in that the MBB firms will probably hire far fewer associates now. But the demand will always remain not because of actual need of services but rather due to the structure of the firm.
There is Bard (and chatGPT). Soon Bard can make slides and give suggestions. Elon Musk despise MBA people. https://www.inc.com/geoffrey-james/elon-musk-just-said-mbas-are-overrated-hes-dead-right.html Steve Jobs do not value management consulting people. https://www.youtube.com/watch?v=-c4CNB80SRc
Mbb management consulting firms will go the way of the π¦€
May I kindly ask for a referral to Meta? I can send you my resume offline before you make a decision
Definitely has lost its prestige.MBB is often a second option vs tech PM at b schools now