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Category: About McKinsey, BCG, Bain (MBB)
Entry Level Salaries for McKinsey, BCG, Bain
Written by Dr. Sidi S. Koné
overview on the current entry level Salary packages at McKinsey, BCG, and Bain (MBB)
Based on our mentees’ large number of offers over the last couple of months, we have compiled an overview on the current entry level salary packages at the major global consulting firms.
Given that the two largest consulting markets in the world are the United States and Germany, we have for now concentrated on these two markets.
This information gives a good high-level benchmark regarding how entry level packages look like these days.
💵 Entry level salaries in the US 💵
McKinsey & Company
BA (Undergraduate & Master):
$ 100.000 base salary + $ 25.000 bonus + $ 5.000 signing bonus
Associate (post PhD/MBA):
$ ~175.000 base salary + $ 45.000 bonus + $ 30.000 signing bonus (+ 50% of MBA tuition for returning summer interns)
Boston Consulting Group (BCG)
BA (Undergraduate & Master):
$ 100.000 base salary + $ ~25.000 bonus + $ 5.000 signing bonus
Associate (post PhD/MBA):
$ ~175.000 base salary + $ 40.000 bonus $ 30.000 signing bonus
Bain & Company
Associate Consultant (Undergraduate & Master):
$ 100.000 base salary + $ ~22.500 bonus + $ 5.000 signing bonus
Consultant (post PhD/MBA):
$ ~175.000 base salary + $ 35.000 bonus + $ 30.000 signing bonus
💶 Entry level salaries in Germany 💶
Addendum
After receiving their MBB offers, or mentees often ask:
"How will the salary develop throughout my tenure? Will I get yearly pay rises, or only upon promotion?"
The answer to this is - it differs!
Salary progression differs across firms and regions. But as a general observation, at McKinsey, contrary to BCG, there is a historic structure of giving yearly salary raises within a certain seniority level, based on performance rating. At BCG however, the salary has been traditionally flat throughout a specific seniority level.
So as a consequence, McKinsey pay tends to start at par or even a little bit lower, and then rises beyond the salary level of BCG. Then BCG pay catches up (or exceeds) upon the next promotion.
It also means that the salary jumps from one career level to the other are bigger at BCG.
On the more senior career levels (AP/Principal and upwards), McKinsey salary structurally rises beyond BCG and Bain salaries in most markets (especially driven by the part that depends on Firm performance, which was really high over the last 10 years or so).
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P.S.: In some regions, BCG has also recently shifted towards a model of yearly salary increases. And Bain SEA is giving year on year increments on their salaries as well nowadays.
How we can help you break you into McKinsey, BCG, or Bain
If you, as an applicant at one of the big strategy consulting firms, would like to learn how to ensure success in your interviews with McKinsey, BCG, or Bain, then feel free to apply for a free initial consultation with us. In this free session we will find out whether we can help you, and if so, how we can help you to reach your goal of joining a firm like McKinsey, BCG, or Bain & Company.
Within the last years, we have helped more than 350 people to receive job offers from the three MBB companies! On average, every single week, two of our clients are signing an employment contract with either McKinsey, BCG, or Bain.
About the author: Dr. Sidi S. Koné
Former Senior Engagement Manager and Interviewer at McKinsey & Company | Former Senior Consultant at BCG
About The MBB Offer Machine™
We help aspiring graduates, young professionals, and seasoned topic experts to ensure success in their job interviews with the world's most reputable Strategy Consulting Firms.
We place a special emphasis on "MBB":
- McKinsey & Company
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Boston Consulting Group (BCG)
- Bain & Company
About the author: Dr. Sidi S. Koné
Former Senior Engagement Manager and Interviewer at McKinsey & Company | Former Senior Consultant at BCG
About the author: Dr. Sidi S. Koné
Former Senior Engagement Manager and Interviewer at McKinsey & Company | Former Senior Consultant at BCG
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