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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.

Well, there's no question mck can afford to pay her that salary and have her sit around. The rest of the recruits will be put through the mill and generate more than enough profit to make up for it. Clients will still pay, and they'll get their pound of flesh, no question.

Mck and other firms typically deflect this issue of new associate inexperience by making available the resources of the firm as a whole. That means that a clueless associate just gets on the phone with industry experts of all stripes and gets their input on any specialized problems that come up. If necessary, the experts come in person. Plus, the partners/experienced consultants are *always* specialized. So it's not really an issue. (CEOs, despite their reputation, are not all as clueless as you might think when it comes to spending shareholder's money).

The downside to the Dems will be the skilled, experienced Americans who have lost jobs and are looking for new ones. Now they have to watch this 23-year old with no experience and a sketchy education pull a six-figure salary. And, those who need a consultant, would have to think at least ten times before taking on the company who hired Chelsea Clinton, unless they are counting on Hillary doing the job for them, which she probably would do. Smells bad.