Chelsea Clinton will start a six-figure consulting job

AP

[drZ]

NEW YORK (March 8) - Chelsea Clinton will start a six-figure consulting job after she receives a master's degree from Oxford University later this year, Newsweek magazine reports on its Web site.

The daughter of former President Clinton will work in the New York office of London-based McKinsey & Company, newsweek.com reported Friday.

Clinton, 23, accepted the position Friday after she reportedly turned down McKinsey's offer of $100,000 a year to work at its London headquarters, according to the Web site.

A spokesman for McKinsey did not immediately return a call for comment Saturday, nor did Bill Clinton's office.

Clinton, who is studying international relations at Oxford, will be one of 5,000 McKinsey consultants worldwide who research topics ranging from health care to corporate finance.

03/08/03 15:39 EST

[drZ]

heres the newsweek article:
http://www.msnbc.com/news/882427.asp?0cv=KB20

[Excuse_My_Bellicosity]

This is good. She's a consultant (read that as: "she works in a worthless no-show job that her dad got as payback for a political favor."). It's good to see Chelsea making use of her college "degree".

[steveo]

I don't know if this was asked when the story was originally posted but will she pay US taxes or UK taxes on her earnings? Maybe she'll donate some
used underwear (yuk) to charity like her dad did.

[withteeth]

According to who?

What?

[SMEDLEYBUTLER]

Chelsea

[Eric in the Ozarks]

I didn't know McKinsey was London based.

[Republican Party Reptile]

I thought it was reported that she was going to be a business analyst first? Entry level business analysts with fresh from undergraduate BA degree in tier one consulting shops (McKinsey, Booz, BCG, Bain) typically pulls down around $65 - $75K. Sounds like she is going in as an entry level first year associate (typically new MBA, or some other relevant graduate degree) where the pay rage is usually in the low 100K's with probably around up to 30% annual bonus. 10K signing sounds about right for new associates.

[mdwakeup]

She won't have any UK earnings. She'll be working in New York.

[Republican Party Reptile]

McKinesy is NOT London based. McKinsey, heck, the whole "management consulting" business was started in the U.S..

[Consort]

Please find some new material.

[skinkinthegrass]

Well sota, She'll be Hildebea$t's bag-person for the extra-legal payoffs from the Raidy's and/or Red/Marxist Fiends in Asia...you know, the same people bill 'helped' w/ missle technology...once the clintoon$' are bought, they stay bought.

Chel$ea, is a much lower-key bag-person...Bill, collected whore$ - "like flies around c$%p, in a barnyard"...not good when picking-up bribes/payoffs from their asian masters.

Question is, will this gig also stop The Clintoon$ from being in the new CBS's show "THE NEW BEVERLY HILLYBILLIES" ...I think not, she'll be the POSTER CHILD for the clintoon$' media racket.

[Eric in the Ozarks]

That's what I thought. AP must've confused the fact that her first employment contact with the company was their London office. A company I once worked for used McKinsey and Monitor for business consulting...

[skinkinthegrass]

Please find some new material...

Like this (music) "There she is... MISS AMERIKA" (music)...an product of numerous Foster/Rodam unions?...as witnessed by AR state troopers...

[LindaPie]

Has anyone gone to the http://www.mckinsey.com/ site?

Freaking cult-like.... scary.

Never saw a site that promoted itself so much.

[Republican Party Reptile]

Well, that's management consultants for ya :) A friend of mine went to McKinsey right after getting her MBA - she was 24 y.o. and her first assignment was to help figure out how to cut 4000 jobs at a major oil company. Imagine being 24 y.o. and have significant input into whether 4000 strangers have or don't have a job.

[connectthedots]

Once she starts paying herown taxes, maybe she will see the light. Doubt it, but you never know.

[Eva]

My guess is that this job is the first step in becoming a Democrat party fund raiser. She'll make lots of wealthy contacts, arrange a lot of favors with her parents and collect a lot of IOUs.

[freeper0743]

If the truth ever comes out, do you think we'll find out that Vernon Jordon got her the job?

[steveo]

thanks

[LouD]

Meanwhile, those of use with the requisite experience and academic credentials to actually perform this job are out pounding the street...

[LouD]

use=us; Maybe I'm getting dinged because of typing skills ;-)

[Miss Marple]

I thought I had read this. She turned down the London job, so they gave her one in New York.

[Republican Party Reptile]

Meanwhile, those of use with the requisite experience and academic credentials to actually perform this job are out pounding the street...

In all fairness, her academic background, at least on paper, is the sort of background McKinsey (and BCG, Booz, Bain, the really picky ones) tend to hire for first year associates. Being Chelsea Clinton is a bonus, but probably not the only reason.

[LouD]

I've got an MBA from a top B-school, and ten years of solid experience in strategy, corporate development, new product development, and marketing. I have a string of quantifiable successes I can point to, and significant vertical market expertise in a couple of industries. I've been pounding the pavement since shortly after 9/11, and this inexperienced b*tch gets hired by the world's top strategy consultancy. Bullshit. This is nothing more than sycophantic friends of BJ.

[ContemptofCourt]

Wow, Lou...you would think that with all that experience and education you would realize now that people are hired no on their credentials, but on who they know....

I love these threads...really shows the hypocracy of FReepers...don't touch Bush's daughters, but call Cheslea a bitch because she got a goof job?

[ContemptofCourt]

good job.... (although goof job is likely not far off the mark).

[Hildy]

One of 5,000 huh? Ya think ANY of those 5,000 make CLOSE to $100,000 a year? She ain't gonna be too popular, especially when she takes off 30 out of 52 weeks a year!

[putupon]

Chelsea Clinton will start a six-figure consulting job

Not bad for dumb blond Arkansas trailer trash w/ no figure and a clock stopper for a face.

[LouD]

call Cheslea a bitch because she got a goof job?

A job she's not qualified to do...

[Revolting cat!]

Say again, what was the difference between our social order and the Soviet nomenklatura?!

[Republican Party Reptile]

One of 5,000 huh? Ya think ANY of those 5,000 make CLOSE to $100,000 a year?

100K is in-line for entry level first year associates at the top strategy consulting companies. So, yeah, most of the 5000 McKinsey consultants do make a minimum of 100K. Many of them likely make a lot more.

[Republican Party Reptile]

A job she's not qualified to do...

maybe, maybe not, you don't know that.

You may not like her, her parents, her politics, her looks, her personality, her whatever ... but you really don't know that she is "not qualified". She does have the sort of academic background that's typical for a new associate at McKinsey.

[doug from upland]

With the family experience, Chelsea could be a rape crisis counselor.

[LouD]

Nope. McKinseyites come in two flavors: Undergraduate liberal arts types, who do their two years of scut work, and go on to b-school. Or new MBAs with 2-5 years of experience, who are on the fast track to engagement management responsibilities and eventual partnership, if they make the cut.

She is neither. She missed huge chunks of her undergrad education, meaning her cum cannot be McKinsey caliber, unless she had help. I understand she is not sitting for exams at Oxford, meaning she will have no graduate degree.

She has no work experience.

Now tell me again she's not getting hired because her slimeball father was president, and her mother's a senator...

[BunnySlippers]

[Republican Party Reptile]

Actaully, the undergrad liberal arts majors don't really even count, business analyst is not a career path at McKinsey, they are expected to go back to grad school after one or two years.

But picking the kids from the best grad school is pretty much SOP, yeah, most are MBAs from top five schools, but not all. They pick them from Law School, Med School, or all sorts of grad programs at various elite schools if they liked the kid. I know someone who never finished his MS in EE from Caltech (never worked, except part time gig at a dot com) but went to a McKinsey interview and scored a first year associate job with McKinsey.

As for Chelsea Clinton being Chelsea CLinton, *shrug*, that's part of the game -

(1) the privilaged class, whatever their political affiliation, will always have an insider's privilage. As much as I admire GW Bush as my Governor and President, if he wasn't who he was and his family who they are, he probably won't be where he is today. Connections, who you know and who you are helps, so what if Chelsea Clinton benefits from that too. Speaking of McKinsey, one of my friend who went to McKinsey with middling grades (from Princeton, but middling grades nonetheless, and yeah, no graduate degree either, just an AB) was probably in small part due to her father was the President of one of the world's largest oil company at the time - heck she even joked that during her interview the interviewers just wanted to talk about her father (apparently they knew each other). Thus leading to

(2) Part of getting on the partner track is how good a sales job you can do, how good are you at bringing in clients and being a rainmaker, having connections definitely help in those areas, and having connections therefore will help in getting hired in the first place.

I don't begrudge her using those advantages, even if I don't like her as a person or her politics. She is not practicing anything that's not practiced by others in her social class. And McKinsey is not fawning over her not unlike they fawn over other potential associates with a golden rolodex. Her connections got her into the best universities, and her connections got her a plumb job, so what? The same has always happened and will continue to happen to well to do and well connected young men and women of all political strips. So why pick on her in particular?

[dagoofyfoot]

CLASSIC! That's just too damn funny!

[NittanyLion]

McKinseyites come in two flavors: Undergraduate liberal arts types, who do their two years of scut work, and go on to b-school. Or new MBAs with 2-5 years of experience, who are on the fast track to engagement management responsibilities and eventual partnership, if they make the cut.

Your previous post stated you're more qualified than Chelsea based on your 10 years experience. Now it appears that, by your own admission, you don't fit the McKinsey profile. Which is it?

[NittanyLion]

One of 5,000 huh? Ya think ANY of those 5,000 make CLOSE to $100,000 a year?

Absolutely. Many probably make more.

[ContemptofCourt]

Wow, nice to see a sane response.

I am a lawyer, and I can't tell you how many people in my city alone are making more than me at bigger firms and are less qualified. BFD....

In the end, it all comes down to $$, and how much of it you can make for your employer.

Besides, ain't like $100k gets you far in the NYC crowd.....