Spring break is the perfect time to explore new places and meet new people. This year, our Crosby MBA Consulting CIT traveled to the Big Apple to meet with McKinsey & Company and Goldman Sachs. We met with professionals at both companies to learn about their day-to-day operations as well as HR management and hiring practices.
For those not familiar, McKinsey & Company is a leader in the consulting industry. They have over 10,000 consultants, with some functioning as generalists, and others as practice specialists. The McKinsey Partner we met with told us about how they regularly add new specialties as client needs evolve. Some of the relatively new categories include Digital Banking, Education Reform, and Start-ups.
The HR representative from McKinsey told us that they get thousands of applications each year. That means a lot of resumes being reviewed in a very short amount of time. From a quick glance, they want to see evidence of achievement, leadership, problem solving (your major, or professional roles), and community involvement. McKinsey wants well-rounded, intelligent people that can succeed in a fast-paced environment. That success is monitored closely by regular check-ins with your career manager and the partner at your office.
After McKinsey, we made our way to Goldman Sachs. Goldman’s revenues in 2016 exceeded $37 billion. Such a large company deservedly has a large corporate office in the city. We marveled at the 44-floor building, which had multiple elevator systems just to avoid slowdowns. Our host was Ben Phillips, a Crosby MBA alum and the Senior Vice President of High Yield Credit Analysis. We were also joined by the Human Capital Management Manager and a Credit Analyst, the latter completing her undergraduate education at Mizzou.
We learned at Goldman that most of their MBA’s go into private wealth management. These individuals manage portfolios and financial planning for high net worth individuals. The work is highly rewarding financially, but can be very time intensive. A normal day can range anywhere from 10-15 hours. If someone is interested in this type of work, the best route to a full-time position is through an internship. Most of the positions are filled by former interns, with over 80% of interns receiving full-time offers.
Our group also spent some time exploring the city. Some of the sites we saw were the National September 11 Memorial and Museum, the Brooklyn Bridge, and Times Square. The bright lights and rushing crowds were just like we had imagined. We even had the opportunity to plan and attend a dinner with Crosby MBA alumni working in New York City.
New York is an exciting place with interesting people (and $1 pizza)! The culture is unique in its own right, and if you want to work in the area, be ready for a fast-paced lifestyle, and a busy work schedule. You will go as far as your work ethic takes you. I highly encourage everyone reading this to take a trip to the City. You will learn a lot and find your own adventure!