Summary
McKinsey & Company is one of the world’s largest and most influential management consulting firms, advising corporations, governments, and non-profits on strategy, operations, digital transformation, and organization. Founded in 1926, it has grown into a global firm with tens of thousands of employees and a wide range of industry practices.
Quick facts
- Founded: 1926 (James O. McKinsey)
- Headquarters: 3 World Trade Center, New York City, NY, USA
- Leadership: Robert (Bob) Sternfels — Global Managing Partner (first took office July 2021; re-elected for a second term starting July 2024)
- Approx. employees: ~45,000 (public reporting circa 2023–2024)
- Reported revenue: ~USD 16 billion (reported for 2023 in several press accounts)
Core services & industries
McKinsey provides management consulting across strategy, operations, digital & analytics, implementation, organization, and risk. Major industry coverage includes:
- Financial services
- Healthcare and pharmaceuticals
- Energy and sustainability
- Technology, media & telecom
- Consumer and retail
- Industrials and manufacturing
- Public sector and infrastructure
- Private equity advisory
Leadership
- Global Managing Partner: Bob Sternfels — joined McKinsey in 1994, held roles leading operations and client capabilities (analytics), elected global managing partner in 2021, re-elected in 2024.
- McKinsey is partner-owned and governed by an elected leadership team and a board drawn from senior partners.
Size and footprint
McKinsey operates globally with major regional hubs in North America, Europe, Asia, and other markets. Employee totals reported in reputable press coverage place headcount in the tens of thousands (commonly cited ~45k), with large offices in New York, London, San Francisco, and elsewhere.
Headquarters & notable offices
- Main global HQ: 3 World Trade Center, New York City.
- Large regional offices: New York (largest single office), London, San Francisco, Washington D.C., and offices across Europe, Asia, Africa, Latin America, and Australia.
Controversies & legal issues (high-level)
McKinsey has faced a number of public controversies and legal actions in recent years; the most prominent include:
Opioids
McKinsey reached a multistate settlement with U.S. state attorneys general related to its work with opioid manufacturers. The multistate settlement reported in 2021 paid hundreds of millions of dollars and included compliance commitments and funding for opioid-related remediation. (Often referenced figure: ~$573M multistate settlement in 2021; additional related enforcement and payments were reported in that period.)
Purdue Pharma
McKinsey advised opioid manufacturers including Purdue Pharma; the firm faced scrutiny over recommendations that allegedly helped companies market opioids.
Government contracts and ethics questions
McKinsey has been scrutinized for certain government contracts (e.g., work related to immigration/detention systems in the U.S.) and for engagements with authoritarian or controversial state clients. These relationships have prompted debates about client selection, ethics, and the firm’s role in public policy.
Reputation fallout and reforms
Following several high-profile controversies, McKinsey announced internal reforms, enhanced partner-level ethics obligations, and changes to client acceptance processes. The firm has publicly committed to stricter policies around high-risk regulated products and clients.
Reputation & positioning
McKinsey remains a market leader in strategy consulting and is known for rigorous problem-solving, high hiring standards, and strong alumni networks. It has expanded into digital, analytics, and implementation work to offer end-to-end client services. At the same time, ethical controversies over client engagements have dented its reputation and prompted internal policy changes.
Practical uses for this note
- Quick reference for McKinsey in research, briefings, or competitor analysis
- Starting point for deeper investigation (legal cases, revenue trends, major client engagements)
- Source list for building a reading list on McKinsey’s recent controversies and business model
Sources & further reading
Reputable sources for the items summarized above include reporting and public documents from: The New York Times, Financial Times, Wall Street Journal, Reuters, The Guardian, official state attorneys general releases (opioid settlements), U.S. Department of Justice statements, and McKinsey’s own website and press releases. (Use these publications to get primary articles and official documents for precise figures and dates.)