Category: Business Insider

Amelia Basista and JP Stonestreet call 2015 their "year from hell" — the final straw that sent them packing to South America. Stonestreet was 43 and working as a self-employed web developer when he began experiencing strange nerve pain in his hands, feet, and legs. After a frightening afternoon when he found himself struggling to walk, he got diagnoses of congenital spinal stenosis and degenerative disc disease, conditions that required two major spinal surgeries to correct.

During the nearly yearlong recovery that followed, Stonestreet was unable to work. Basista left her job as a regional sales manager to take a new sales role that allowed her more time at home while her partner recovered, but it came with a significant pay cut. As the couple's income plummeted, Stonestreet's insurance premiums soared to $1,200 a month.

"We realized we couldn't afford the mortgage and the car payments and everything," Stonestreet told me. "The conventional American lifestyle just wasn't in our reach anymore." The couple sold their house in Denver, but that wasn't enough to break even. Over the next year and a half, they hatched an escape plan. In 2017, the pair relocated to Cuenca, Ecuador, and continued working their old jobs remotely. Their monthly expenses dropped by 70%.

Basista and Stonestreet are part of an emerging cohort of Americans who, fed up with the cost of living at home, are seeking a better quality of life elsewhere. They swap advice on Reddit boards like AmerExit (57,000 members) and I Want Out (2 million members), consult with concierge relocation-service providers that cost a few hundred to several thousand dollars a pop, and teach others how to follow in their footsteps. They toss around terms like "geoarbitrage" (the notion of saving money by moving somewhere cheaper) and acronyms like FIRE (short for "financial independence, retire early," which is equal parts target and mantra).

Some, like Basista and Stonestreet, envision the move as the first step in a long-term plan that ends in a leisurely retirement abroad. Others are drawn to a digital-nomad lifestyle that allows them the flexibility and extra income to travel the world indefinitely on a remote paycheck. Either way, they're moving to save money for the future, to pay off debts, or to afford more of what life has to offer — all while propping up a cottage industry of companies catering to their every need.

It's tricky to know exactly how many Americans have relocated to other countries, let alone the details of when or why. But as of 2023, there were almost 161 million US passports in circulation, one for nearly half of all Americans. (A generation ago, only 10% of Americans had a passport.) The State Department estimated in 2020 that a total of 9 million US citizens lived abroad, up from an estimated 5 million in 2010 — though those numbers include dual citizens born and raised abroad. The nonprofit advocacy group American Citizens Abroad puts the figure closer to 4 million.

Americans work more, vacation less, spend more on healthcare, and die sooner than people in other high-income economies.

We do know, however, that the yearning is there. In a recent poll from Monmouth University, one-third of Americans said they'd like to settle in another country, compared with just 12% who said the same in a 1995 Gallup poll. In InterNation's 2023 survey of 12,000 expats from 172 countries, the US was the country of origin for the largest share of the expats.

The longing to move abroad will likely be unsurprising to anyone who has recently gasped over their weekly grocery bill or chipped in on an acquaintance's medical GoFundMe with a six-figure goal. The Bureau of Labor Statistics reported that the average US household's monthly expenses jumped from $5,111 in 2020 to $6,081 in 2022. In a new Financial Technology Association survey, 61% of American workers indicated they were living paycheck to paycheck.

And for what? Though there's no question that Americans enjoy a higher material standard of living than most of the world, the nation measures poorly against its wealthy Western peers on several quality-of-life indexes: Americans work more, vacation less, spend more on healthcare, and die sooner than people in other high-income economies.

These factors likely explain why some Americans are moving to countries that aren't generally considered low-cost-of-living locales. Data from the global recruitment firm Deel suggests the UK, Germany, Canada, and France are among the top seven international destinations for American job seekers. In places with universal healthcare, government-subsidized childcare, and cultures that encourage a better work-life balance, your dollar can stretch further.

Maliya Fale, a 22-year-old digital nomad and content creator from Minneapolis, had been traveling through Latin America off and on for nearly three years when, in February, she left the US for good. "I'm genuinely going crazy having to live in a toxic American capitalist society," she announced in a TikTok video titled "Moving out of America."

When we spoke in March, Fale was staying in the coastal town of Puerto Morelos, Mexico, and scoping out her next move. She said that living abroad afforded her a degree of flexibility and spontaneity that would be out of reach back home. She supports herself with remote content gigs and follows whichever adventures come her way. "The cost of America is not going to allow me to do that," she told me.

Others who have followed similar paths say they've never looked back. In November 2015, the writer Cristina Johnson packed three suitcases and boarded a one-way flight from Pennsylvania to Belize. Johnson, now 53, has a disability that makes it difficult to hold down enough work to make ends meet in the States. In Belize, where her monthly expenses are a mere $250, Johnson has been able to build a home and save thousands while earning about $1,200 a month as a content-marketing copywriter. "I could not even venture a guess on how much I've saved over the years," she told Business Insider last year, "but even if I saved a million dollars, it would not be as valuable as the mental, emotional, physical, and psychological things I have gained."

It has never been easier for Americans to test international waters — particularly in countries where greenbacks can stretch much further than they would in a typical US city. More than 50 countries offer digital-nomad visas to remote workers able to prove they have enough funds to support themselves. Combine a strong US dollar with the relative ease of obtaining remote and gig-based work through freelancing platforms such as Fiverr and Upwork, and it's no wonder that Americans of all ages are open to weighing their options abroad.

Retirement wasn't even on our radar when we were still in the US.

Among the numerous companies that have cropped up to meet the burgeoning demand is Mexico Relocation Guide, based in Austin. Founded in 2019 by the husband-and-wife duo of Mariana and Dustin Lange, the company sells relocation guidebooks geared toward Americans who are interested in retiring early or reducing their cost of living without compromising on lifestyle.

"We are very careful not to give the false idea that people are going to live like kings on pennies, because that's not the case," Mariana Lange told me. "But people do see that they can increase their quality of life for the same amount, or even a lower amount, of money." She said that while some farther-flung destinations offer greater bang per buck than Mexico, her clientele of mostly 40-plus Americans see the country's relative proximity to their family and friends back home as a fair trade-off. Some are even able to keep seeing their primary-care providers in the US after they move. Since the pandemic lockdowns have subsided, Lange's business has boomed.

Business owners in other arenas have similarly taken note of the expanding global expat population. Mark Zoril, the North Carolina-based founder of the financial-planning firm PlanVision, began working with expat clients eight or nine years ago, helping them manage cross-border assets and save for the future while living abroad. Today, thanks in part to a high-profile endorsement from Andrew Hallam, the author of "Millionaire Expat," these clients account for a significant proportion of his company's business.

Zoril said most of his clients planned to remain abroad indefinitely, largely because of the high cost of returning. "They just haven't accumulated a lot of assets during their working years," he told me. "And so for them to come back to the States would be a challenge." He identified Central America, Portugal, and Spain as particularly popular destinations because of their relatively low costs of living and mild climates.

Though he hasn't noticed a change in the demographic makeup of his expat clientele — people in their 30s and 40s who don't have large savings and are working to support themselves — Zoril said that in recent years these customers have generally become savvier about researching and weighing their options, learning online about "where they can live inexpensively, how they can access cash, and how they can invest." He added: "They can join social communities with other people that are also living this way. They have a better support network of people they can reach out to and learn from before they go."

Expat life does come with its share of potential downsides. A lower cost of living often means significantly reduced earnings, which can impede someone's financial ability to return home. Cultural differences and language barriers add a layer of complexity and a risk of alienation.

For the people whose towns and neighborhoods have recently transformed into expat hot spots, the dynamic is especially fraught. On a visit to Lisbon this February, I was shocked by the relatively few locals I saw in the city's center, where swaths of housing have been gobbled up by foreign investors and absorbed into a short-term-rental market catering to international tourists, expat settlers, and waves of digital nomads. With residential-property costs up by nearly 30% over the past five years, both old and new residents of the Portuguese capital are feeling the squeeze.

Other expat destinations pose challenges of their own. Amid political unrest in Ecuador, Stonestreet and Basista swapped their adopted home for a semi-nomadic "slow travel" lifestyle in Europe. They don't regret leaving America, though. From their temporary perch in Tirana, Albania, the couple told me via WhatsApp that their only regret about moving abroad was not doing it sooner. Within three years of leaving the US, they said, they were able to pay off $60,000 in consumer debt and double down on saving for retirement.

"Retirement wasn't even on our radar when we were still in the US," Stonestreet told me. "We just assumed we'd work till we dropped. But life is short. Tomorrow's not guaranteed."

Kelli María Korducki is a journalist whose work focuses on work, tech, and culture. She's based in New York City.

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• Basant Shenouda, 27, is one of LinkedIn's biggest career content creators.
• She once quit a toxic job after less than a year in a tough market and with nothing else lined up. 
• The experience taught her to continuously look for better job opportunities and work-life balance.

This as-told-to essay is based on a conversation with Basant Shenouda, a 27-year-old implementation consultant at LinkedIn from Dublin. It's been edited for length and clarity.

I'm a Gen-Zer and one of LinkedIn's biggest career content creators. I create content on topics like job hunting, promotions, and skill development, and I onboard LinkedIn's biggest clients as a technical project manager.

But before I got this role, I had to maneuver my career and leave some toxic jobs and work environments. One particular job made me incredibly depressed — I realized it wasn't a good fit for me in the first two to three weeks, and I quit in less than a year.

I actually wish I'd prioritized myself and left sooner.

The management style made the job difficult

At the beginning of my career journey, I tried many different things. I was trying to learn about the different industries but also find what I was good at and what I liked. I especially liked working at technology and lifestyle companies, as I found their marketing and sales strategies really interesting.

One job was particularly hard because of the management style. I was expected to work constantly from 9 to 5 in the office without breaks, with management overworking me and still thinking I wasn't productive enough. I didn't feel like management cared about my career development or well-being.

I wanted to be able to work on impactful projects, and I especially sought mentorship and support toward my career aspirations. I was still figuring out what that meant, but I had a lot of ambition to prove myself. It was important to me not only to have a workload that I felt supported through but also the space to be able to voice my concerns, ideas, and workload issues.

Unfortunately, it felt like the only thing that was important to the company was completing our deliverables as quickly and mechanically as possible without making any mistakes. Because of the immense workload, I was prone to making mistakes, which my managers never took well at all.

I decided to quit less than a year into the role to protect my mental and physical health and well-being

My work schedule meant constantly working with a short lunch break and being expected to work late to complete all my tasks. I didn't have time for a social life and was even too tired to try.

Ultimately, I quit after less than a year without any job lined up. I wanted to take care of myself. The toxic work environment had really impacted my self-esteem toward my career capabilities.

I was an international graduate on a short-term visa who needed a job to stay in-country, so deciding to leave added a lot of stress in a different way. But I knew I was still better off leaving and focusing on myself.

After I quit, I took a period of self-care

After I left the job, I spent time ensuring I was returning to my health basics, like eating well and spending time with my loved ones. I took a six-month break to focus on myself and some personal projects.

During this period of self-care, I started my venture to coach other Gen-Zers. My career consulting focuses on my experience as an international student and woman of color and how I've navigated work visa processes and gotten into Big Tech. 

Working for myself toward my career ambitions really helped boost my mental health and confidence again.

Here's what I recommend to others who are stuck in jobs with poor work-life balance

Timing is incredibly important. I left my problematic job during a bad job market, which greatly stressed me. Mental health is beyond important, but it's also important to have a sense of financial security during these tough times. I recommend always assessing the risks of leaving a position — especially if you don't have a backup plan.

I also recommend that workers continuously look toward future job opportunities and look at their careers as a staircase. You'll never get from point A to point B in a straight line.

Sometimes you just have to take things step by step and take on projects for your next role that'll bring you a better work-life balance.

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• Dr. Jeffery Karp grew up with undiagnosed ADHD, struggling to focus and answer questions in class.
• Using two tactics to retrain his brain, Karp gained confidence and pursued a career in academia. 
• The MIT and Harvard professor shares the benefits of working in a flow state in his new book.

As a professor at Harvard Medical School and MIT, I am very lucky; I get to learn from and collaborate with some of the most innovative minds in the world of medicine, science, and technology. But I was not "supposed" to be here. No one would have predicted this for me.

Growing up with undiagnosed ADHD

When I was a kid in elementary school in rural Canada, I had the attention span of a fruit fly, and I struggled to keep up. Reading, writing, classroom discussion, and teachers' instruction — I couldn't make sense of any of it.

It wasn't just that I was distractible and my brain didn't process things in a conventional way; my mind felt completely open to just existing in the world, in a constant mind meld with the universe. It took a ton of effort for me to narrow my focus so stuff could enter, stick, and stay.

And I was an anxious kid. I couldn't relax and just be myself, feel okay as "the quirky kid" because I felt like something worse than that: an alien, a human anomaly. I realized early on that there were many things I was "supposed" to do, but none of them came naturally or seemed logical.

More troubling still was that much of it didn't feel like the right thing to do; it felt actively wrong. When a teacher asked me a question, whether on a test or in class, I typically found the question confusing and often unanswerable. The "right" answer seemed like just one of many possibilities. So, most of my school years were an exercise in trying to figure out, interpret, and fit others' expectations.

I was a puzzle for my teachers, a misfit in the conventional academic sense, and a total outcast socially. Today, with society's much greater understanding of ADHD, part of my eventual diagnosis, there are evidence-based approaches for building self-regulation skills designed for kids (and adults). But at that time and in that place, the only option was to wing it.

Sea slugs were essential in helping me retrain my brain

Over the years, I slowly gained motivation and became more persistent. I didn't know it at the time but my evolution as a learner mirrored the two fundamental concepts of how neurons change and grow — how they learn — that the neuroscientist Eric Kandel would someday identify as the basis that sea slugs and humans have in common for learning and memory: habituation and sensitization in response to repeated exposure to stimuli.

Habituation means that we become less reactive to stimuli, as you might to traffic noise outside your window. Sensitization means that our reaction is stronger, as happens when, for instance, a sound or a smell or even the thought of something becomes a trigger.

Living my own experiment, I learned to make use of both.

I discovered some basic ways to work with my brain to habituate to some stimuli (ordinary things that distracted me) and sensitize (sharpen my attention) to others to be able to reel in my wandering mind and redirect the synaptic messaging with intention. At one point, in the room where I studied there was a pinball machine next to me and a TV behind me. I learned to ignore both and used playing the pinball machine as a reward for finishing my homework.

Over time I became hyperaware of how to intentionally hijack processes in my brain this way to be less reactive or more sharply focused as needed.

The result: I was able to focus on what seemed most purposeful, then follow through and maximize impact as opportunities opened up. I tinkered and fine-tuned until I learned how to use these powerful tools to tap into the heightened state of awareness and deep engagement that I call "lit."

What is 'lit' focus

I call it "lit" for two reasons. First, "lit" aptly describes how the flash of inspiration feels—as if a bright light flipped on in the dark. Or a spark has set your thinking ablaze. When you've had an epiphany, been awestruck, or simply been super excited, you've felt that spark. Second, "lit" is how these moments appear to the scientists who study them. Inside the brain (and in the gut as well), engaged states activate neurons. In the brain, this triggers an increase in cerebral blood flow that neuroscientists can see when they use functional magnetic resonance imaging (fMRI).

On a monitor, this oxygenated blood lights up an otherwise gray image of the brain with yellow-orange hot spots of activity. Emerging science shows that this neural activation is associated not only with particular cognitive activity or emotions such as fear and anger but also with love, awe, happiness, fun, and "peak states," or flow.

In "lit" mode, we engage at the highest level of our abilities. We not only develop the mental muscles to stay focused, but we also build the confidence and the dexterity to riff off of new information on the fly.

We're more likely to use our critical thinking skills, which can keep us from blindly accepting what we're told, or told to believe, especially when our intuition says otherwise. We find it easier to connect with people, are more alive to the possibilities all around us, and are better able to capitalize upon them. In a stream of ever-replenishing energy, we're constantly learning, growing, creating, and iterating. We're building our capacity while doing our best work.

As I honed strategies that enabled me to activate my brain this way at will, I identified a dozen that were simple to use and never failed to open my thinking in just the way that was needed, whatever that was.

Whether it was to direct my attention or disrupt it, sharpen my focus or broaden it, do something stimulating or quiet my mind, these Life Ignition Tools (LIT) worked for me, and then for others as I shared them.

Practicing habits that let me access deep work has been integral to my success

Once I learned how to work with my neuroatypical, voraciously curious, but chaotic brain, I discovered infinite opportunity to question, create, and innovate as a bioengineer and entrepreneur on a global scale and help others do the same. These LIT tools took me from being a confused and frustrated kid, sidelined in a special ed classroom in rural Canada, to becoming a bioengineer and medical innovator elected a fellow of the National Academy of Inventors, the Royal Society of Chemistry, the American Institute for Medical and Biological Engineering's College of Fellows, the Biomedical Engineering Society, and the Canadian Academy of Engineering.

As a professor, I've trained more than 200 people, many of whom are now professors at institutions around the world and innovators in industry; published 130 peer-reviewed papers with more than 30,000 citations; and obtained more than a hundred issued or pending national and international patents. The tools also helped me cofound 12 companies with products on the market or in development.

And finally, they've been instrumental in creating a productive, supportive, and dynamic high-energy environment in my lab, which recently morphed from Karp Lab to the Center for Accelerated Medical Innovation.

Having specific tools helped a struggling kid like me

LIT worked for this kid who appeared to show no promise and the young man who remained frustrated and discouraged for many years. Though I still struggle every day in various ways, I'm grateful to be able to say that these LIT tools enabled me to meet and far exceed those dismal early expectations.

If we want breakthroughs in science and medicine, if we want successful, disruptive innovations on all fronts to support healthier communities, and if we want to cut through the noise and focus on what is most important, we must learn how to use all of the tools in nature's playbook, our evolutionary arsenal. We must shake up our thinking — not just now and then but on a daily basis.

In practice, LIT tools make it possible for us to take anything we're hardwired for — including undesirable or unhelpful behaviors and habits — and with intention, channel the energy in them to create a positive outcome. It's easier than you might think because the more you do it, the greater the rewards, the momentum, and your impact for good.

You're never too old to charge your brain this way, and most definitely no one is ever too young. In fact, LIT tools can be lifesavers for kids, as they were for me.

Adapted from LIT: Use Nature's Playbook to Energize Your Brain, Spark Ideas, and Ignite Action by Jeff Karp, PhD, published by William Morrow. Copyright © 2024 by Jeffrey Michael Karp. Reprinted courtesy of HarperCollinsPublishers.

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• A franchisee told BI how he's trying to absorb California's $20 minimum wage for fast-food workers.
• The Vitality Bowls franchisee in San Jose said he's put up prices and is reducing staffing.
• "Right now I'm trying to size what the true impact will be," he said.

Fast-food franchisees in California are desperately trying to boost their revenues and cut their costs to absorb the impact of the state's new $20 minimum wage.

The wage, which came into effect on April 1, applies to limited-service restaurant chains with at least 60 restaurants nationwide and covers both corporate-owned locations and franchise restaurants.

As well as companies selling typical fast food like burgers, chicken, sandwiches, and pizza, the wage applies to those serving coffee, bubble tea, and pretzels.

Brian Hom, who owns two branches of smoothie and acai bowl chain Vitality Bowls in San Jose, talked to Business Insider about the measures he's taking to offset his higher payroll and ensure he remains profitable.

"Right now I'm trying to size what the true impact will be," he said. "I'm just trying to see if I'm going to be able to cover my payroll and still make a profit."

1. Putting up prices

Most impacted restaurants seem to be raising menu prices to account for the new wage.

Hom said that he had put his prices up by about 5% in January — when San Jose's minimum wage went up from $17 to $17.55 an hour — and by between 5% and 10% on April 1, when the state's fast-food worker wage came into force.

"All our increases in January and April were due to wage increases," he said. "We're waiting to see if the customers will start coming in or not."

Some customers had told him that they planned to cook more at home instead as limited-service restaurant prices rose, Hom said.

He's also concerned that as restaurants like his put up their prices, some diners could go to sit-down places instead as the price difference between fast-food and casual-dining restaurants narrows.

2. Reducing staffing

Restaurants are concerned that too many price increases will deter diners — so they're also looking at other ways to cut costs, including labor.

Hom's stores have cut the number of workers on each shift down from three or four to just two, he said.

He also told BI that he has around 30 workers across his two stores and wouldn't add any more.

"We stopped hiring," he said. "We are not hiring anymore right now."

But the higher minimum wage has meant that Hom's more experienced workers have also got a boost.

"Now everybody's making 20 bucks, the assistant managers had to go up as well as the leads and the manager," he said. He declined to say how much he paid them, but noted that it was "significantly higher than the minimum wage."

Hom said he would evaluate the company's profit and loss statement over the coming months to see if he needed to lay people off. Some franchisees of Pizza Hut and Round Table Pizza have laid off all their delivery drivers, believed to be because of the $20 wage.

3. Toying with kiosks

Hom said that though he isn't a fan of digital order kiosks, he's considering getting some for his stores to cut labor costs. Some other Vitality Bowls locations already have them, he said.

A major Burger King franchisee in California told BI that he was rapidly installing kiosks at all his restaurants in response to the $20 wage.

4. Shrinking its menu

"We've taken significant measures to optimize profitability as increased costs have arisen," Roy Gilad, CEO of Vitality Bowls, told BI in late March. He said the chain had introduced some "menu innovations" to cope with a range of rising costs, including the new minimum wage.

Hom said that the company had streamlined its menu by adding more pre-made bottled juices and cutting some items like the Detox Bowl, Energy Bowl, and Graviola Bowl to reduce how many unique ingredients each store needed to stock.

5. Closing stores

Hom warned that he may even have to consider closing his stores.

"I can't work and not make any money," he said.

Other franchisees have said the new wage made them reconsider plans to open new restaurants in California.

Are you a fast-food worker excited about the new minimum wage? Or a franchisee or restaurant manager worried about how it will affect your business? Email this reporter at gdean@insider.com.

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This as-told-to essay is based on a conversation with a former McKinsey & Company associate who worked at the company for one and a half years. They spoke on condition of anonymity due to privacy concerns. Business Insider has verified their identity and employment at McKinsey. The following has been edited for length and clarity.

I joined McKinsey as an associate in 2021. Going in, I always knew, "I'm here for a bad time, not a long time."

I knew that the work would be challenging, and I also hoped that if I stuck it out, I'd be able to build up my analytical toolkit and learn how to problem-solve really well.

But looking back, I regret the way I approached my time at McKinsey.

There was little apprenticeship

One of the things I struggled with was the lack of apprenticeship. It's supposed to be a really apprenticeship-heavy culture, but that wasn't my experience.

You're expected to start working from day one. I was there to learn, but it was a frustrating experience because no one was there to teach me. I wanted somebody to sit down with me and teach me the basic skills required for the job, like how to problem-solve for a meeting, how to wordsmith a deck, and how to fix my mistakes.

I was alone on an island while my manager drowned in her other work. I felt like I wasn't learning anything.

As a result, I heard senior-level employees commenting about how the new analysts and associates weren't good because they weren't receiving any apprenticeship.

I typically worked from 7:30 a.m. until 11:30 p.m.

As consultants, we didn't have to do any hardcore research because we had teams that did our research for us. We also had a team we could call on if we needed help with Excel, a team to make our PowerPoints pretty, and a team to set up calls with experts.

It's funny because people ask me, "You had all those researchers, so what did you do?"

My days mainly consisted of problem-solving meetings in which we'd show the partners or senior partners our decks and get their feedback, take notes, and then revise accordingly before the next meeting, which might be later that same day or the following day. Sometimes I'd have three of these meetings a day, all on different decks.

I also had to spend time doing analyses for new pages in the deck, as well as in client meetings and on calls with experts.

On a typical day, I worked from 7:30 a.m. or 8 a.m. until 11:30 p.m. And it was pedal to the metal — I didn't leave my desk, forgot to eat, and dropped tons of weight. I barely remembered to go to the bathroom. I only remembered to get up when I noticed my dog looking at me all sad.

And although we had a budget for fun work events, some people didn't like attending them because they'd still have a ton of work waiting for them when they got home.

For example, I had many team dinners where some people would call their Uber secretly underneath the table so they could get home and keep working. It kind of took the fun away.

The bar at McKinsey was much higher than at my previous consulting firm

I feel like people love to hate consultants. They say that consultants just take companies' money and don't add value. But many consulting firms get projects based on results and outcomes, and McKinsey couldn't be McKinsey without results.

I've read comments on social media that assume there are a lot of overpaid idiots at McKinsey. But there really aren't — there's an attitude of "move up or out," so people there are really good.

I got the chance to solve a lot of ambiguous problems with some really good problem-solvers. The company really goes out of its way to give clients a bespoke experience, as opposed to Big Four work which is more of a plug-and-chug into the same slide situation.

I had previously worked at another consulting firm, and my experience there compared to McKinsey was like night and day. The work at McKinsey was so much harder, and the bar was so much higher. Everything at McKinsey is just a lot more customized.

Some associate partners and partners were mean

The people at McKinsey were both the best and worst parts of my experience.

The analysts and associates were all cool, but a few associate partners and partners were mean. They freaked out over mistakes and belittled people's thought processes.

My McKinsey friends always said I got really unlucky in terms of the associate partners I had to work closely with.

Although it wasn't an everyday thing, they made some analysts and associates cry. One associate partner looked at a slide I made, began laughing hysterically, and said it was the worst slide they had ever seen. Another associate partner yelled at and made fun of people while talking about them behind their backs — and also to their faces.

But one of my favorite memories also involves the people at McKinsey. One time, an associate partner screamed at me in front of our whole team because they wrongfully thought I was going to miss a deadline — but I knew I could meet it and didn't end up missing it.

I ended up crying.

My team felt so bad for me that they rallied behind me and we all stopped working for the night. One of my coworkers went and got bottles of wine, and we all drank in the team room; it just felt like a lot of camaraderie.

I took a mental health break because I couldn't do it anymore

After about a year of working at McKinsey, I took a three-month mental health leave. It was literally driving me to the edge. I just couldn't do it anymore.

I was crying more and taking anxiety medication at a higher dosage than I had ever needed before joining. The week before I decided to leave, I was oscillating between being way too OK, and then crying, and then being way too stoic.

I shared with my development group leader (DGL), a mentor assigned by McKinsey, that I was thinking about taking short-term mental health disability leave. I wasn't even nervous about bringing this up because of how normal it seemed — I know other McKinsey employees who have also taken health breaks due to the mental toll.

Before McKinsey, I didn't even know mental health disability benefits were a thing. Now I know more than a few people who have gotten them. The mental toll, plus the workload, was crazy.

I've heard multiple people, myself included, say, "I do not get paid enough for this shit," and I genuinely believe that. I don't think that the pay was enough for what we were doing, despite the fact that I was making over $200,000 when I left.

During my break, I tried to pick up new hobbies and realized that I hated every hobby. I tried to get out of the house more but wasn't really successful because of how down I was. Sometimes, I'd have to hire a dog walker even though I was home because I just felt like I couldn't handle it. At some point, I couldn't even care for myself, so my mom came to town to care for me and my dog.

I decided to officially leave because I realized if working here caused my mental health to deteriorate, why would I stay? Why would I want to be someplace that causes me to be in such a dark place?

I regret not being more assertive when I was there

The problem with McKinsey wasn't the work — I'm used to working hard, working long hours, and being frustrated at work. I think it was really the people beating down on me and making me feel like I was never enough that really cracked me.

It's been over a year since I officially left, and I feel much better now. I'm hopping back into the job market and doing interviews. They always say that once you go to McKinsey, you can go anywhere, but the market is bad right now, and that hasn't been my experience. It's hard for me to quantify the value of having worked at McKinsey.

Overall, my time at McKinsey was a good learning experience — not so much in terms of hard analytical skills, as I didn't pick up as many of those as I had wanted, but I did learn a lot about myself and working with different kinds of people.

I wish I had been a bit more assertive while I was there. You know the saying, "Play the game, or the game plays you?" I think the game played me, and if I had been a little more willing to stand up for what I needed, like being apprenticed and standing up to the mean associate partners, it would've been much better.

Maybe if I had stood up for myself more or received more guidance, I wouldn't have gotten yelled at as much. But I also think it was going on mental health leave was inevitable, given the kind of people I ran into. I don't think there was anything I could have really done.

As I look for a new job, I'm absolutely looking for companies that care about their employees, value inclusivity, and treat everyone with respect. I'm looking for companies that value apprenticeship, and I always ask in coffee chats, "What is the apprenticeship model at your company? What is the hierarchy model at your company? What is the upward feedback model at your company?" Those are things I will always ask now.

McKinsey & Company declined a request for comment from Business Insider.

If you worked at a top consulting firm and want to share your story, email Jane Zhang at janezhang@businessinsider.com.

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• Wealth can't buy everything — even some things that have a price tag.
• Some brands require luck, loyalty, and resolve before you can secure one of their status symbols.
• Unless you're a notable billionaire, even money can't grant you a membership at Augusta National.

Wealth grants access to a lot, but even the wealthy can't just buy anything.

Certain privileges require more than money. Sometimes, that means being in the right place at the right time — and there are instances when your family connections matter more than your bank account.

Exclusivity isn't only reserved for the wealthy, of course, but the entries on this list can cost up to seven figures if you're lucky — or connected — enough to purchase them.

Limited memberships, strict voting panels, and scarcity make them extremely difficult to get for anyone who isn't a billionaire.

Here are five things that are hard to do even if you're considered rich.

Getting a membership at Augusta National Golf Club

The Augusta National Golf Club is home to the sport's most anticipated tournament — the Masters. The tournament is a favorite of the rich, and wealthy golf fanatics flock to Georgia during the first full week of April to attend.

The club has a secret membership list of around 300 members. You can't just apply and pay for a membership. It's by invitation only, and you can only join when an existing member leaves or dies.

Bloomberg reported in 2015 that billionaires like Warren Buffett, Bill Gates, Stanley Druckenmiller, and others are said to be members.

Securing an apartment in this New York City co-op building

In a cul-de-sac facing New York's East River, there's a nearly 100-year-old building where residents' privacy is a top priority, and a strict board presides over applications.

The 26-floor Art Deco River House is considered one of the most exclusive places to live in New York City.

"The River House, with its old world charm, is one of the most famously discreet buildings in the city," its description on StreetEasy reads. "It is a tradition among staff and apartment owners to be protective of the building's privacy."

Residents collectively own the building and share responsibilities as a cooperative building or co-op. One of those tasks is approving or denying those hoping to score an apartment.

Getting into the building isn't as simple as being able to afford it. Richard Nixon, Joan Crawford, and Diane Keaton have all been rejected, The Real Deal reported.

Meanwhile, some of its famous residents have included Uma Thurman and Henry Kissinger.

Buying a new Hermès Birkin bag

The Hermès Birkin bag is a status symbol among the wealthy and fashionable. Depending on the bag's size, color, and material, a brand-new one can cost between five and six figures.

But don't expect to walk into a department store and leave with one. Experts say that a prospective buyer must shop the rest of the Hermès catalog for a while before they might be offered a Birkin for sale.

The experts said there's no set amount you have to spend before you get the call that a Birkin bag is available for you to purchase. It's mostly a waiting game that depends on when a bag that matches your preferences becomes available and how in-demand that bag is. (The brand didn't respond to a request for comment from BI earlier this year.)

Reserving a table at Rao's in New York City

The name Rao's is probably most recognizable for its jars of pasta sauce on grocery store shelves.

The family-run business is also responsible for a handful of restaurants scattered through major cities in the US. Its original location in New York City is one of the toughest reservations to secure.

A phone call to the restaurant will prompt a message explaining that Rao's is completely booked for the rest of 2024. It's not because it's some star-studded hot spot.

There are only 10 tables, and they belong to people who Rao's co-owner Frank Pellegrino Jr. considers family. They're assigned "table rights" on specific nights, and their standing reservations are passed from generation to generation, according to Delish.

"There's weeklies, biweeklies, monthlies, and quarterlies, so in every three-month period, I see all my clients. And now I'm dealing with their children and grandchildren," Pellegrino told Town and Country in 2020.

Those with table rights are allowed to lend their tables to friends for a night or donate them to charity auctions. Some wannabe diners are willing to bid hundreds of dollars on third-party reservation apps to secure them, The New York Times reported in 2023.

Buying this Cartier watch

Cartier only created four unique models of the Cheich watch, and the one that sold at auction for $1.1 million in 2022 set a record for the jewelry maker, according to Forbes.

It was first created in the 1980s as a prize for whoever completed the Cartier challenge by winning two back-to-back 6,200-mile Paris-Dakar races. In 1984 and 1985, motorcycle racer Gaston Rahier became the first and only person to complete the task.

Since then, the timepiece has remained "shrouded in mystery" for 40 years, according to the Sotheby's listing from 2022. One of the four models made is considered lost, and the other two remain in Cartier's collection. Production of the watch ended in 1986.

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• Gen Zers are in their boycott era, turning against anything that doesn't align with their beliefs.
• This includes the jobs they go for and those they try to avoid.
• It is driven by frustration with corporate culture and the aim of being more authentic at work. 

Gen Z is in its boycott era.

Zoomers seem to be sick of climbing the corporate ladder, tipping culture, dating apps, and rich influencers selling them stuff.

They also stick to their guns when it comes to applying — or not applying — for certain jobs when companies don't align with their beliefs, according to experts and Gen Z professionals.

While there's been an understanding in previous generations that the place where one earns their money doesn't necessarily have to be a place they inherently agree with, Gen Z places the value of its principles higher.

A recent TikTok, for example, highlights the movement. The creator said they were quitting their job at Starbucks and that they judged every customer who still orders from there.

Starbucks faced criticism and boycotts during the Israel-Hamas war from supporters of both sides. Pressure against the company has also built since 2022 in response to union-busting tactics.

As a result, it has become severely frowned-upon by a large sector of young people on social media to show themselves ordering from the chain. Other recently-shunned companies include McDonalds, Pizza Hut, Hyundai, HP, and Siemens.

Some companies may be starting to take notice and change. Deloitte, for example, has committed to environmental sustainability and social equality following its 2023 Gen Z and Millennial Survey that found younger generations are demanding more from employers regarding these issues. 77% of Zoomer respondents of the survey stated the importance of working at a company whose values aligned with theirs.

Gen Zers told Business Insider they would spurn certain companies that didn't reach their expectations when it came to LGBTQ+ issues, world conflicts, and policies — or lack thereof — around work-life balance and time off.

Karim Adib, for example, a Zoomer who works as a PR specialist at ClickThrough Marketing, told BI that Gen Z is very aware of their impact on the world, including how they make their money.

Growing up with the internet and starting their careers in a remote work environment has given the generation more options, he said.

"With those options, we now don't have to join companies that don't align with who we are because there are plenty of companies that do that we can apply for," he said.

Omar Taleb, a Gen Zer who graduated last year, told BI he was surprised to learn how much he cared about a company's values when considering prospective job opportunities.

He never considered his employer "to be the barometer of morality," he said, but since the pandemic, Black Lives Matter protests after the death of George Floyd, and the ongoing conflict in Gaza, "neutrality seems so dated," he said.

"We were given no choice but to care about a company's ethics and principles," he said. "A company with stated values and actions to support said values tells me they see themselves as a force for good in society. It makes it all the better showing up to work and putting in the hours."

Bringing their whole selves to work

Erin McGoff, a film director and TikTok creator who makes content about life and career advice, told BI that Gen Zers have a goal of bringing their "whole self to work."

Traditionally, with previous generations, there has been a work-life separation, such as not discussing one's personal life or politics in the office.

But Gen Z, McGoff said, want their workplace to align politically — so they have to talk about it. At the same time, they are big supporters of the work-life balance — coining the term "lazy-girl jobs" and believing in the benefits of "quiet quitting."

"They want to bring their whole selves to work, but they also don't want work to be their life," McGoff said.

Adib said issues that are important to him include social equality and giving everyone a fair shot.

"I can't associate or work with any company that helps further social inequality in any way, as no paycheck can help feeling you're making someone else's life harder by doing your 9-to-5," he said.

Gabrielle Yap, who is 26, said Gen Z grew up in a time when information was available at their fingertips 24/7.

"We've seen the good, the bad, and the ugly of various companies through social media, news, and other channels," she said.

"That means we're pretty clued into what goes on behind the scenes, and we're not just looking for a flashy brand or a big paycheck. We want to align ourselves with companies that walk the talk, so to speak."

Whether it's social justice initiatives, environmental policies, or fostering diversity and inclusion in the workplace, Yap said she wants to feel like she's contributing to something meaningful at work.

"I want to see tangible evidence that the company is committed to these values," she said. "It's not just about making a profit anymore; it's about making a difference."

Research from Bright Network, a networking service that connects recent graduates and students with employers, found that sustainability was an important consideration for 92% of young job-seekers who wanted the companies they were applying for to be moving toward net zero status.

A recent survey by legal recruiters Major, Lindsey & Africa also found that when considering an employer, 60% of Gen Z lawyers thought pro bono work was of high importance.

"Our generation was also blessed with the knowledge that there's more to the world than just our immediate surroundings," Adib said.

"With that came the knowledge that your work affects other people around the world, the environment, and maybe even future generations."

Moving the needle on what we discuss at work

Khalid Machchate, the chairman of K&W Technology Group and a millennial who hires Zoomers, told BI that politics, money, and even religion have all become discussable in the workplace for Gen Z, "which would've been unfathomable to previous generations."

"The company's public stance on these points, as well as the managers' views, affect the organization's capacity to hire Gen Zers," he said.

This cohort also tends to quit "fairly quickly," he added, if their organization doesn't align with their views.

Taleb told BI it's not that he won't apply for certain jobs, but he will question how long he can last in an environment that he disagrees with.

"Especially as a gay man of color," he said. "Sitting in an office and pretending the social fabric isn't fraying doesn't work for me and the rest of my generation."

Yap told BI that transparency is something she values highly at the company she works for. This includes what its policies are, as well as its shortcomings.

Overall, she appreciates a good company culture — somewhere she feels "valued, supported, and empowered to grow both personally and professionally."

"A company's principles, ethics, and values are a big part of shaping its culture," she said. "When those values align with my own, it creates a sense of belonging and purpose that goes beyond just punching the clock every day."

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• Tesla's US electric vehicle market share has grown to 51.3%, despite numerous challenges.
• Overall US EV sales dropped 15% in Q1 as buyers favored hybrids.
• Tesla's future partly depends on the reception of Elon Musk's ambitious robotaxi service.

Lately, it feels like almost everything is going wrong for Tesla and its CEO Elon Musk.

However, there's some surprisingly good news buried in the carnage of the electric vehicle market.

Tesla's US market share actually grew in the first quarter. That follows a similar increase in the fourth quarter, according to EV sales data from Cox Automotive's Kelley Blue Book.

Since the end of September, Tesla's share of the US EV market has grown by 1.3 percentage points to 51.3%. That outpaced all other automakers. Hyundai, VW, and BMW lost market share in the period.

This leaves Tesla way ahead. The next closest rival is Ford, with a meager 7.4% market share.

These stats say more about the general sorry state of the US EV market. Overall sales dropped 15% during the first quarter as more car buyers picked hybrids instead.

Shares of EV maker Rivian have slumped 59% so far this year. Polestar is a penny stock and Fisker is just trying to stay alive.

Tesla's stock is down 37% in 2024. That's still a lot and it represents a loss of well over $100 billion in market value.

The company has been slashing prices to try to shed rising inventory of unsold vehicles. And yet, it massively missed Wall Street sales expectations. Recent layoffs and high-profile departures are spooking investors. In China and other EV markets, there's intense competition from BYD and other EV makers.

So, there's still a lot going wrong. But Tesla remains the world's most valuable car company by a cool $100 billion. (Toyota's second).

Does that mean there's more stock pain to come for Tesla? A lot depends now on how investors receive Musk's ambitious robotaxi service. The launch date for that is August 8. At the moment, anyway.

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• New Gallup data reveals the US has fallen behind many G7 countries in key indicators.
• 26% of Americans struggled to afford food in 2023, and confidence in the military has fallen.
• Public confidence in US institutions, including the government and judiciary, has declined.

The US may be losing its strong standing among the world's most developed nations.

New data from Gallup released Wednesday shows that for the first time in nearly two decades of polling, the US has fallen behind several G7 countries — an informal group of industrialized democracies — for indicators such as people's ability to meet basic needs, confidence in the national government, and trust in the military.

"The U.S. remains the dominant voice of the G7 on the global stage," the Gallup report notes. "But the reality of public opinion at home is starting to tell a different story: one in which the U.S. no longer stands out as a leader in confidence in institutions, fundamental to its democracy."

The US spends more on its military than most of the G7 countries combined, though confidence has progressively fallen over the last few years. US confidence in the military fell to a new low of 81% — and for the first time, US confidence fell below another G7 nation, France.

The drop in confidence began shortly after the Biden Administration's decision to withdraw US forces from Afghanistan in 2021, falling from 93% reported confidence in 2020 in former President Donald Trump's final year in the White House to 81% in 2023 more than halfway through Biden's term.

Additionally, Gallup's polling revealed that just a third of Americans in 2023 thought the US was spending the right amount on defense, with 35% thinking the US spends too much and 29% believing that the Department of Defense's total budget of $851.8 billion in 2023 wasn't enough.

The survey also noted a steep drop in confidence in the US judicial system, with the share of respondents saying they were confident falling to 42% in 2023, making it the nation with the lowest judicial confidence and slightly lower than Italy. The sharp drop in reported confidence in 2023 occurred the same year four grand juries across the country indicted former president Trump, charging him with 91 felonies, which he and many of his supporters have deemed as politically motivated.

The US Supreme Court's decision to overturn Roe v. Wade's decades-old abortion precedent in 2022 may have played a role in the drop in reported confidence as well, a decision that nearly 60% of Americans disapprove of, according to Pew Research.

After a tumultuous 2023 in the House of Representatives that immediately began with a power struggle, later leading to former Rep. Kevin McCarthy historically getting ousted as speaker, Gallup reported that public confidence in the US government fell to just 30%, or 3 percentage points beneath the United Kingdom, which has cycled through 3 prime ministers since mid-2022.

Despite those sour views of American institutions, the country's economy remains stronger than its G7 peers. US GDP grew 2.5% in 2023 from the previous year, compared to Japan at 1.9% and Canada at 1.5%, according to the OECD.

Still, each year since 2009, the US has had the highest — or tied highest — percentage of residents saying they were struggling to afford food. In 2023, 26% of Americans at times struggled to afford food in the last 12 months, compared to the next highest, Canada, at 17%. Japan, the lowest of the G7 countries, was only 8%.

"Even though the U.S. economy is growing faster than any other G7 country, the economic perceptions among its people do not fully reflect this economic reality," Benedict Vigers, associate consultant and author of the report, told BI. "Americans are split on their economic trajectory: with 44% thinking their local economies are getting better, and 48% thinking they are getting worse. Similarly, the proportion of Americans who are 'living comfortably on their present incomes' dipped again in 2023 to 41% – it has not been lower than this in over a decade."

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• Tesla is having a rough start to the year. 
• The EV maker reported disappointing deliveries for Q1, before announcing sweeping layoffs.
• With falling demand in the US and increased competition in China, Tesla is in a tough spot.

Tesla is in full-blown cost-cutting mode.

After releasing a disastrous first-quarter sales report this month, CEO Elon Musk announced the company would reveal a long-awaited robotaxi in August. 

But that announcement was quickly overshadowed by sweeping layoffs, something Musk attributed to a reorganization and streamlining "for the next phase of growth." 

In all, Tesla said it would cut more than 10% of its workforce, amounting to more than 14,000 people. Tesla is also losing some key top executives: Drew Baglino and Rogan Patel announced this week they would leave the company. Baglino was senior vice president for powertrain and energy engineering and Patel was vice president of public policy and business development.

It's unclear what, exactly, Tesla plans to show off in August as a self-driving, revenue-generating new product. And in the months between then and now, investors are demanding more than a rehashed robotaxi dream.

It's not Musk's first time promising a self-driving taxi

Musk said in 2019 that he expected Tesla to have 1 million cars on the road in the next year that could function as robotaxis.

"We believe we'll have the most profitable autonomous taxi on the market," he said on an earnings call in April of that year.

On a separate fundraising call around that time, he said Full Self-Driving could propel Tesla to a $500-billion valuation, and make Teslas worth up to $250,000, CNBC reported at the time. He also reportedly said Tesla robotaxis would be able to do 100 hours of work a week for their owners.

In the years since, Tesla's Full Self-Driving software (which remains Level 2, even as competing automakers have reached Level 3 and beyond), has rolled out to more vehicles as Tesla has continued to outsell competitors. Its market cap did, in fact, hit $500 billion, as Musk predicted. And it turned a profit at long last. 

But a robotaxi never materialized, even as Musk continued to tout FSD as a continued linchpin to Tesla's growth.

Now, cheaper EVs have thrown a wrench into Musk's plans

Tesla started an all-out price war in 2023, slashing prices up to $20,000 and bringing its best-selling model below the average price for any new car (about $47,000 in March 2024) in an effort to boost sales and stay ahead of the competition.

More than a year in, Tesla has, for the most part, maintained its pricing edge thanks to industry-leading margins, while some other automakers rethink their EV plans.

But Tesla might not remain the price leader forever. According to Reuters, Tesla has ended plans for another one of Musk's longtime pet projects: a truly affordable EV. The car, sometimes called the Model 2, was expected to cost $25,000 — about $14,000 less than Tesla's cheapest sedan.

Musk disputed the report, which cited internal documents and multiple people with knowledge of the matter, leaving analysts scratching their heads about what comes next.

After years of growth at hyper-speed, Tesla reducing its labor force isn't unthinkable — especially after building a brand new factory to churn out an entirely new (and not-yet-profitable) product — but it could hint at demand problems.

"The sweeping layoffs announced yesterday, amounting to a reduction in crewed production capacity, should now leave no doubt that the decline in deliveries has been a function of lower demand and not supply," JPMorgan analyst Ryan Brinkman said in a note to clients on Tuesday as shares fell to their lowest levels in more than a year.

Kelley Blue Book data also points to flagging demand, showing Tesla's share of the US EV market has fallen to 51% this year from 62% in 2023.

And Tesla is facing intensifying competition in China, where it's now neck-and-neck with homegrown EV startups like BYD, who are exporting their cheaper cars to Europe, Asia, and Mexico, further increasing the pressure.

Musk is sure to face questions about the Model 2 when it reports earnings on April 23. Analysts will also be looking to learn how a robotaxi can turn a profit, too. 

"Investors are struggling to see how the company can use its infrastructure and network to achieve a path to monetization," Adam Jonas, a longtime Tesla bull, said in a note to clients on April 11.

And first, they'll have to get them street-legal.  

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