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I knew a woman who started at McKinsey at age 23. She was pretty damn impressive...got her bachelors and MBA from U Penn/Wharton, while holding down an analyst job for a REIT (complete workaholic, this woman). She grew up as an 'army brat' living all over southeast asia-spoke 5 languages fluently. Super smart and personable. She deserved the job, and she did very good work for various clients, from what I saw.

The younger consultants are seldom experts in the industry of the client. That's not what they're brought on for. The partners and senior consultants are experts; the newbies are workhorses like you wouldn't believe. Will Chelsea be held to the same workload/performance standards? I know what your answer is already. It'll be interesting to hear from the mck grapevine what really happens.

As far as justifying the pay...if only you knew how much mck billed for an associate's time...

If this company wants to pay that much money for so little of substance, they're just demonstrating to their clients how worthless their services really are. I hope the clients are more than a little leary of spending good money, only to get the utterly inexperience and undereducated Chelsea. BTW, here's the NY Daily News story:

Chelsea Clinton joined her father in helping reduce the nation's unemployment rolls by getting a job, it was reported yesterday. Former President Bill Clinton announced Thursday that he had signed on with CBS to do a regular debate segment with Bob Dole on "60 Minutes."

Daughter Chelsea is filling out her W-2 forms at the Manhattan offices of McKinsey & Co., high-powered international consultants to an array of large corporations, Newsweek magazine said on its Web site. The former First Daughter, who is wrapping up studies at Oxford's University College, had been working with McKinsey's London office.

McKinsey confirmed Chelsea Clinton was on board in New York, but declined to comment on her salary, the magazine said. But a former recruiter for the firm told Newsweek that most new associates earn between $115,000 and $120,000 a year, plus a signing bonus of $10,000.

Average applicants have to be in the 99th percentile on all of their standardized test scores and have straight A's in college. The firm even looks at SAT scores, Newsweek said. As one of 5,000 consultants worldwide, Clinton will look forward to long hours, lots of travel and no bragging about the job.

"It's very secretive," the former recruiter said.

After three years, Chelsea Clinton can specialize in anything from health care to consumer goods to corporate finance. The downside, said the former recruiter, is that "she'll have no personal life whatsoever." link

I doubt that last part. Chels and her boyfriend won't miss a single movie premiere or fashion show.

Nothing unusual in a really smart kid with Stanford and Oxford degrees to get a 100K job. Some will make partner and some will get washed out. But normally they have an MBA, law, or economics degree, top of the class, stellar recommendations, and real credentials. Chelsea is cafe society, not focused ambition. She spends more time drinking than hitting the books. No track record, no brains, no promise.

That leaves famous connections.

The younger consultants are seldom experts in the industry of the client. That's not what they're brought on for. The partners and senior consultants are experts; the newbies are workhorses like you wouldn't believe. Will Chelsea be held to the same workload/performance standards?

Chelsea will be used as a celebrity side show attraction.

The real workhorses will hold her in contempt but chances are that Chelsea will never spend much time with any of them.