[3] He is the most recent player to score a top flight goal for Oldham Athletic, scoring for them in a 1–1 FA Premier League draw against Norwich City at Carrow Road on the final day of the 1993–94 season, a game which Oldham's failure to win cost them their top flight status.
In May 2008, McCarthy was appointed as the new manager of Southern League Division One side Truro City, following the resignation of Dave Leonard.
[5][6] On 7 December 2009, McCarthy left the club by mutual consent following a 7–2 away defeat to Stourbridge.
[7] On 13 January 2011, McCarthy was given a job as a coach at Ipswich Town, by former playing partner Paul Jewell.
[8] On 26 June 2013, McCarthy was appointed first team coach at English Football League Two club Plymouth Argyle[9] On 15 June 2015, he left his position as first team coach at Plymouth Argyle due to a back room staff restructuring.