McKinsey Piles ‘Up or Out’ Pressure on Some US Consultants

McKinsey & Co. warned some US consultants last week they are running out of time to win promotion, raising the “up or out” pressure on staff as the global consulting industry struggles.

The memos were sent to some engagement managers and associate partners in North America, reminding them staff in this role have an average of two and a half years to be promoted, people familiar with the matter said. It’s the latest sign that McKinsey may be rethinking its staffing following several years of aggressive hiring and low attrition rates.

“We have always maintained a high bar for performance,” ...