Views : 8,403,688
Genre: Entertainment
Date of upload: Oct 22, 2023 ^^
Rating : 4.928 (3,367/184,834 LTDR)
RYD date created : 2024-05-16T09:31:28.945301Z
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Top Comments of this video!! :3
I've had the pleasure of working with them. You spend 75% of your time with them training them on the things that they don't know about your business. Their staff tend to be green new MBAs with next to zero experience. Whatever the problem is, they have a standard formula they will force your problem into - whether it fits or not. And then when the whole experience is done, they will give you basically the same answer you had from the very start. And a multimillion dollar bill.
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Apparently McKinsey are into coding as well - when I joined Credit Suisse as a contractor last year I had to rewrite some code their consultants had written in R to Python. It turned out the R code had a bug and didnāt read the data files correctly and the liquidity reports that were being sent to the top management of the bank had been incorrect for years.
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I had a McKinsey experience in the 2000s. They came in, cut close to 50% of the workforce in our warehouse and offices, and increased top management 25%. The result was that the "lucky ones"who stayed started to work 10+ hours per day, with peaks of 14 to 16 hours at month end in the finance dept (I was a middle manager in accounting) because the workload was the same but we were 50% less. Actually the workload was a slightly bigger as the new managers were asking for their own reports (they needed to justify they were there). My team started to fall sick after 1 year, I managed to stay 2 years more before falling sick myself and heard that the company was first sold and dissolved one year later. I don't trust McKinsey, if they come in the company I work for now, I will leave immediately.
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I owe a major debt of gratitude to John Oliver and team for putting these segments on YouTube for free. There are few things that give me as much joy as when I see a new episode is available to watch. Doing your part to educate the masses on relatively obscure or complicated topics while being factual, funny, and empathetic. John and team are all saints.
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Had one of them come to my job. He promised a new future for company and workers, no layoffs. Made it his point to greet every worker, was really sweet. Drove a ferrari. Month later, 50% of the workforce was fired effectively next day with no prior warning. Which, considering that most of them (including me) were migrant workers whose accomodation was paid by the employer, was a total disaster. Gave us a week to leave premises. For me it was either finding a job within that week or going back 1000 km back home with savings only. I found a job, but many didnt.
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As a professor at an Ivy League school, I've been repeatedly heartbroken to lose some of our most gifted students to this crowd. As a society, we're really setting the wrong incentives for where talent goes (and that's not to say that everyone there is incredibly gifted -- there's more than enough privileged duds there, too).
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I once interviewed for a McKinsey internship (not in the US). I had great grades from one of the top business schools in my country but was not at all the boastful type. The partner actually accused me of being a liar, because āmy grades did not match my attitudeā. A friend of mine, who is the smartest, hardest-working and overall best person I have ever met - including really humble - also interviewed and was accused of being an actress. On the contrary, I heard from several people with not necessarily stellar but decent grades but more capable of projecting ambition and self-assurance that they faced no such mind-boggling feedback. These recruiting practices sound like a big red flag to me.
Also, later I worked at Deloitte doing audit. It was still crazy hard work, but I found a much greater respect for honesty and truth, and earned enough respect that when I sent out my farewell email a partner actually came to the staff open space to personally say goodbye. Highly doubt I would be shown the same kindness at McKinsey.
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@TimeBucks
6 months ago
This passion and research is what we need.
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