The eponymous founder of the firm, James O. McKinsey, was born in 1889 in the Ozarks region in the south-central US.

A professor of accounting, McKinsey wrote several influential books on management accounting and business budgeting, pioneering the ‘scientific management’ approach.

In 1926, in Chicago, he launched James O. McKinsey and Company, Management Accountants and Engineers, advising businesses on how to use accounting principles as a management tool.

This business operated according to what became known as the ‘McKinsey Way’ – a structured approach to problem-solving that prioritized thorough research, analysis and impartial decision-making.

In 1950, Marvin Bower became the firm’s managing director. He was a strong advocate for the consultant’s ‘obligation to dissent,’ ensuring the company maintained a culture of critical thinking.

In 1932, the firm opened a second office, located on Wall Street in New York at the heart of the financial industry.

After the death of the firm’s founder in 1937, Marvin Bower relaunched the New York office as McKinsey & Company.

A third office was opened in San Francisco in 1944, with all locations united by a shared mission and shared resources.

The New York office acquired the exclusive rights to use the McKinsey name in 1946.

By 1951, the firm had 88 staff, and that year formed new profit-sharing, executive and planning committees.

The post-war years also saw substantial growth in McKinsey’s client base, particularly among governments, defense contractors, blue-chip companies and military organizations.

In 1959, the firm opened its first office outside the US, with a new location in London, UK.

By 1966, the company had six overseas offices, mainly in Europe, generating one-third of its revenues. Five years later, it opened an office in Tokyo, Japan, its first in Asia.

By the mid-1980s, more than half of the firm’s partners were from outside the US, underlining its international ownership and governance.

During the 1990s, McKinsey expanded into key emerging markets such as China, India and Brazil, further extending its global reach.

Today, the firm has offices in more than 65 countries around the world and over 130 cities.

McKinsey was a pioneer in computer simulation within the banking industry, developing the ‘Bank Management Game’ in partnership with IBM in 1959.

In 1976, the firm introduced individual practices focused on specific industries across geographic boundaries, bringing a new level of expertise to its global consulting.

In the late 1970s, the company introduced the 7-S framework, a transformational approach to organizational effectiveness that emphasized the role of coordination, rather than structure.

The GE–McKinsey nine-box matrix, also developed in that decade, provided companies with a robust framework for allocating resources most effectively among multiple business units.

In 2013, the firm launched Digital Labs, paving the way for McKinsey Digital, which today helps clients develop digital strategies and build and implement innovative technologies.

In 1971, McKinsey created the Commission on Firm Aims and Goals to strengthen the company’s industry-specific knowledge.

The 1982 book ‘In Search of Excellence’ by two McKinsey consultants and based on the firm’s 7-S framework is considered one of the most influential business management books of all time.

In 1990, the McKinsey Global Institute was founded to aid decision-making on critical economic and business issues through independent research and a trustworthy fact base.

The firm launched the Periscope By McKinsey platform in 2007, offering a suite of marketing and sales solutions, together with expert support and training, to accelerate commercial transformation for businesses.

McKinsey introduced the three horizons framework in 2000, a strategic planning tool designed to enable organizations to pursue innovation while maintaining focus on their current core businesses.

In 2021, the company launched McKinsey Sustainability, its dedicated sustainability platform, offering deep expertise and a wide range of tools to help clients across all industries meet decarbonization targets.

In 1952, McKinsey was hired by the team of presidential hopeful Dwight Eisenhower to produce a detailed report on staff appointments and roles, which provided valuable guidance for his new administration.

A key recommendation was the creation of the post of White House chief of staff, which is now a highly influential role in US politics.

The firm was instrumental in designing the original organization of the National Aeronautics and Space Administration (NASA) in 1958.

In 1970, McKinsey consultants helped develop the universal product code system that assigns a unique code to every product sold in the US.

Together with the World Economic Forum, McKinsey has co-founded the Global Lighthouse Network, a community of manufacturers pioneering Fourth Industrial Revolution technologies, to study how these technologies are shaping production.

Through the McKinsey Center for Future Mobility, the firm helps companies, governments, investors and social sector entities navigate the complexities of autonomous vehicles, electric transportation and smart infrastructure.

The company has developed a strong mentorship program, designed to support the career growth of employees, especially those from underrepresented groups.

The firm became one of the first to hire female graduates from Harvard Business School’s MBA program in 1964, setting a precedent for equality in the workplace.

In 1992, the company formed McKinsey Women, a global initiative designed to help women succeed in their careers.

The company formalized its commitment to LGBTQ+ equality in 1995. Today, via its Equal at McKinsey global network, it has peer support groups for LGBTQ+ colleagues in every region.

Through the Connected Leaders Academy, McKinsey offers a comprehensive training program to help organizations improve their talent pipelines and boost inclusion and equity.

The McKinsey Institute for Black Economic Mobility, established in 2020, is a research center and think tank dedicated to advancing racial equity and inclusive growth.

Since 2015, McKinsey has partnered with LeanIn.Org, to publish the annual Women in the Workplace study – the largest study on the state of women in corporate America.

In 2015, McKinsey acquired QuantumBlack, a UK-based company pioneering the use of big data and advanced analytics to improve performance, which has now become its AI consulting arm.

In 2018, following the acquisition of Lunar, Carbon12 and Veryday, the firm launched McKinsey Design, dedicated to helping clients design successful products, services and experiences.

The firm boosted its capabilities in supply chain transformation, data architecture, and software engineering and technology in 2022 through the acquisition of SCM Connections, Caserta and IncepTech.

In 2023, the company became the first major consulting firm to adopt generative AI as part of its consulting toolkit, with the development of its bespoke gen AI platform Lilli.

The company publishes ‘McKinsey Themes,’ identifying topics that are driving change in the world of business.

The firm was a leader in developing climate action strategies, identifying possible international funding mechanisms to tackle global warming as early as 1989.

In 2011, McKinsey Analytics was formed to deliver support in designing, creating and maintaining big data models to inform critical business decision-making.

Through the McKinsey Management Program, the firm has helped over 30,000 client participants to improve leadership and management effectiveness.

The firm acquired consulting company Aberkyn in 2017, reinforcing its position at the forefront of leadership development and cultural transformation.

McKinsey is ranked as one of America’s top consulting firms for thought leadership by the industry platform Consultancy.org, based on the quality, impact, reach and volume of its output.

In 1954, McKinsey’s partners voted to begin pro bono work for non-profit organizations, including the Red Cross, committing to support civil society.

In 2000, the firm created a new practice dedicated to supporting non-profits, foundations and other non-governmental organizations.

McKinsey established Generation in 2014, a non-profit organization to tackle global youth unemployment. It has trained 77,000 learners, 81 per cent of whom found employment within three months of graduation.

In 2018, the firm founded McKinsey.org, an incubator for new solutions to social issues, offering organizational development programs free of charge to non-profits to help them unlock their full potential.

The firm empowers staff to volunteer through funded time off, and every McKinsey office has an annual Day of Service when colleagues volunteer with local community organizations.

Following the COVID-19 pandemic, the firm launched the McKinsey Health Institute in 2022, a non-profit that works with an ecosystem of partners to address global health challenges.

In 1964, the ‘McKinsey Quarterly’ was launched, a publication containing articles by McKinsey consultants and external thought leaders, which soon gained an international reputation.

The McKinsey Global Institute publishes a variety of research reports, with themes including productivity and prosperity, maximizing human potential, and technology and markets of the future.

Through the McKinsey Insights Store, the firm offers signature reports and special collections on key management issues.

The firm produces various podcasts, including the McKinsey Podcast, Inside the Strategy Room, McKinsey Talks Talent and McKinsey on Consumer and Retail, featuring insights from experts in their field.

In 2001, the firm introduced ‘McKinsey on Finance,’ a specialized publication which has become a key resource for CFOs, investment professionals and financial strategists.

In 2021, McKinsey formed its Technology Council – a coalition of more than 60 experts – to help leaders identify and leverage the technology trends most likely to transform their business.

McKinsey Academy is a premier platform for professional growth, deploying a vast network of learning design and delivery consultants, instructional designers, program managers, operations experts and change facilitators worldwide.

McKinsey’s Executive Leadership Program brings together senior executives from the world’s leading organizations to help them hone the key skills needed to drive organizational change, supported by expert coaches.

The firm’s Client Capabilities Network employs approximately 8000 staff around the world, providing clients with expertise in specialized areas such as analytics and digital transformation.

McKinsey’s 12 global Innovation & Learning Centers, staffed by more than 250 experts, offer clients opportunities to incubate ideas, explore new solutions and build new capabilities across industries.

The firm operates the McKinsey Alumni Center to help former consultants remain engaged with the firm and with each other.

In 2018, the firm founded an environmental venture, Rethinking Recycling, later spinning it out as Delterra, a non-profit that works to increase recycling across Latin America and Southeast Asia.

McKinsey is a knowledge partner to the World Business Council for Sustainable Development, providing advanced analytical insights, tools and advisory support to accelerate the energy transition.

In 2021, McKinsey boosted its sustainability and climate capabilities by acquiring strategic consultancy Vivid Economics and climate analytics platform Planetrics, specializing in climate change risk and opportunity modelling.

Shortly after, the firm launched McKinsey Sustainability, with the aim of supporting all industry sectors to reach net zero by 2050 and halve their carbon emissions by 2030.

McKinsey launched its Sustainable Materials Hub in 2022, to help organizations source and produce low-carbon materials and meet carbon reduction targets across the value chain.

The firm’s Sustainability Academy, founded in 2022, helps clients build capacity and skills within their workforce to equip them to reach their sustainability and wider environmental, social and governance goals.