The 47-year-old arrived at the club yesterday morning as replacement for previous boss Glenn Hoddle, who walked out earlier this month citing a lack of financial resources.
Among McCarthy’s first responsibilities will be to resolve the contractual limbo of midfielder Paul Ince, who had applied for the manager’s job following Hoddle’s exit.
Despite being overlooked by the Wanderers board, former England midfielder Ince has nevertheless been offered a playing contract by the Black Country club, though he has yet to sign the deal.
Ince might be an important man to have around, and McCarthy sees experience as a valuable resource in the Coca-Cola Championship next season.
McCarthy said: “We can put youngsters in the team but we need some senior professionals and we have one in Gary Breen who signed for the club last week and who is a terrific player.
“What you get with youngsters is hunger and ambition, but what you also get is inexperience and, sometimes, a lack of physical presence.
“So what we need to do is bring in some more players because the Championship is a difficult division.
“I’ll be phoning managers up and down the country to try and get some players in and if my number comes up on their mobiles they shouldn’t be surprised.
“How many players do we need? I’m not going to put a number on that. As for the players who are here, they already know who I am don’t they?
“You meet them for the first time for three or four minutes but it’s all ‘hello, how are you’ stuff.
“The only way they’re going to get to know me is by us talking together one to one.”
McCarthy is looking forward to starting work with the squad, but insists any change in fortunes will not be instant.
“I’ll get my ideas and my beliefs across to them in the days and weeks to come in a drip, drip fashion on the training ground,” the former Republic of Ireland and Sunderland boss said.
“But at the moment we’ve only got 16 first-team players and my initials stand for Mick McCarthy, not Merlin the Magician.”
But despite the disadvantages facing him McCarthy, has arrived in the Midlands in bullish mood.
“It’s important for the fans to believe,” he said.