McKinsey’s partners suffer from collective self-delusion
Is the consultancy firm in denial about the crisis it's in? "For almost 95 years, McKinsey has sought to portray itself as a genteel professional-services company, not a grubby business. Unlike, say, a profit-hungry Goldman Sachs banker, who walks into a room aware she may be hissed at, a McKinsey consultant expects his halo to be noticed. However much its senior partners insist that they are not motivated by outsized profits, they can earn as much each year as that Goldman banker. Revenues have roughly doubled in a decade to over $10bn. Partners number 2,600. The firm’s employees revel in the aura of the old McKinsey — of autonomy, discretion and intellectual prestige — while embracing the growth, profits and power that have come in more recent years. Rarely do they doubt whether they can have it all."
From The Economist