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Despite starting with nineteen points in their opening seven games, McCarthy insists that his side still have plenty of work to do if they are to achieve promotion.
Wolves face Bristol City this weekend at Molyneux looking to extend their unbeaten run, but whatever the result McCarthy says he will not be putting the bubbly on ice,
"It's been a great start and of course we're pleased with it.
"But we're not completely content because there's such a long way to go."
He emphasised the importance of Saturday's game to his side awknowledging that Bristol City could be a side his team competes with for a place in the Premiership,
"I don't think people would expect me to be walking around smiling because, top or bottom of the league, I stay exactly the same.
"So we're certainly not going to rub anyone's nose in it because they are going to want to beat us anyway.
"As I've said all along, there's hardly anything between all the teams in our league and that is why no one is getting carried away."