Do not assume every rejected candidate receives the same follow-up. Keep in Touch can be selective, but the selection logic is not public enough to turn the invitation into a precise ranking of your candidacy.

The right interpretation is that McKinsey sees enough potential value in maintaining the relationship. The McKinsey Keep in Touch program overview provides the broader context.

Use it as an advantage without becoming passive. Continue building experience, keep your resume current, and re-engage when there is a logical recruiting moment.

If you later reapply, the previous relationship may help provide context, but you should still prepare as though you need to earn the interview again.

I would call it selective-ish, not some secret offer list.

Same. Good signal, but people definitely overinterpret it.

The useful part was getting invited to events I wouldn't otherwise know about.