Background: I study in a target tech school. McKinsey first reached out to us via the official campus recruitment channel that we have in the form of the 'Placement Office'
1. Company talk: An hour long talk about all things McKinsey. Generic introduction to the Firm. People from different ranks within the firm had come in.
2. Shortlist for interview: About 20 people shortlisted for interviews, from about 400 that had applied. Shortlisting done purely on the basis of resumes. Came out about a month before the interviews.
3. Buddy allotment: Every shortlisted candidate was allotted a buddy. A buddy is generally some current BA within the firm. Every buddy had 2 candidates allotted to them. They really do help out in terms what to expect during interviews, and also do a couple of practice cases with you. (With most candidates being shortlisted in multiple consulting firms, we had also formed case-groups to prepare by ourselves)
4. Information session for shortlisted candidates: Mostly to clarify any doubts or queries the shortlisted candidates had about anything. They encouraged us to be as brutal as possible in our questioning. They explained the rationale behind things like up-or-out, why some outsiders perceive them as arrogant, and other things. Very frank and candid discussions.
What really impressed me was that they NEVER EVER belittled other consulting firms/consultants. The people struck me as very magnanimous, self-assured, and poised.
4. Problem Solving Test (PST): 2 days before the interviews, we had the problem solving test. Solving the sample tests they have put up on the website beforehand, is really helpful. Mostly it tests raw brain-power and processing speed. There was no cut-off as such since all shortlisted candidates where to be interviewed. However, it was made clear earlier that not scoring well on the PST meant they would be testing our number/analytic skills 'pretty rigorously' during the interviews.
5. On the day(3 interviews pretty much back-to-back):
->First interview: With an Associate Principal. Wouldn't say it was a stress interview, but the interviewer was being curt and to-the-point. Only case, no specific HR.
->Second interview: With a Principal. Started of with my experiences and perspectives on certain things, followed by a short case, which tested how I thought about stuff.
->Third interview (This was their second round. Only 10 out of 20 shortlisted got a 3rd interview. Some had to appear for more than 3 interviews): With a Director. Started out with my experiences followed by a short creativity based case.
6. The Offer: Only after they finished interviewing all shortlisted candidates did they give out offers. Those who did not get offers were given feedback.
Overall I wouldn't say that I flawlessly nailed every interview, but I sure had a very upbeat vibe coming out of every single of the 3 interviews.
In conclusion: The whole process is conducted in a highly professional and fair way. Regardless of whether you get selected of not, you'll get to realize why these guys are considered The Best. Do prepare A LOT. In one of the Principal's own words the Firm looks for "candidates who are outstanding in general and have at least one particularly outshining quality/skill."