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mckin·sey

McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations. McKinsey is the oldest and largest of the "Big Three" management consultancies (MBB), the world's three largest strategy consulting firms by revenue. The firm mainly focuses on the finances and operations of their clients. Under the leadership of Marvin Bower, McKinsey expanded into Europe during the 1940s and 1950s. In the 1960s, McKinsey's Fred Gluck—along with Boston Consulting Group's Bruce Henderson, Bill Bain at Bain & Company, and Harvard Business School's Michael Porter—transformed corporate culture. A 1975 publication by McKinsey's John L. Neuman introduced the business practice of "overhead value analysis" that contributed to a downsizing trend that eliminated many jobs in middle management.McKinsey has a notoriously competitive hiring process, and is widely seen as one of the most selective employers in the world. McKinsey recruits primarily from the world's top business schools and was one of the first management consultancies to recruit a limited number of candidates with advanced academic degrees (e.g. PhD, MD) and deep field expertise, and who have demonstrated business acumen and analytical skills. McKinsey publishes a business magazine, the McKinsey Quarterly. McKinsey has been the subject of significant controversy related to its business practices. Among other things, the company has been criticized for its role promoting OxyContin use in the context of the opioid crisis in North America, its work with Enron, its work for authoritarian regimes like Saudi Arabia and Russia, and for its involvement in government corruption scandals.

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