Big 3 Consulting Salary Progression Base 34 000 69 000 Performance Bonus up to 7 000 Others up to 6 000 Total Annual Salary up to 82 000 McKinsey Business Analyst salary 2023 Undergraduate Junior level Base 83 000 122 000 Performance Bonus up to 16 000 Others up to 10 000 Retirement minimum 7 5 of annual base and bonus to 401 k plan no contribution required
The 2021 salary report from industry coaching firm Management Consulted shows that salaries at the top three firms McKinsey Bain and Boston Consulting Group BCG known collectively as MBB remained flat compared with 2020 The Big Three management consulting firms McKinsey Bain and the Boston Consulting Group are increasing starting salaries for MBA consultants by 15 to 17 000 in 2023 according to a new report by ManagementConsulted
Big 3 Consulting Salary Progression
Big 3 Consulting Salary Progression
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The risk of high fixed cost salaries increased in finance and tech which leads us to believe that salary growth for entry level consultants will slow this upcoming year As we look towards 2024 we predict that compensation growth in non U S markets will outpace compensation growth in the U S Salary growth has traditionally been Project Leader 3 4 years out of MBA 200K 230K Associate Partner Associate Principal 5 7 years out of MBA 250K 400K Partner Principal 8 years out of MBA 500K 1M Senior Partner Director 10 years out of MBA 1M Below is a chart depicting average compensation from 122 consulting firms
McKinsey Company Boston Consulting Group BCG Bain Company colloquially called MBB or The Big Three are considered the three most prestigious firms in the management consulting industry McKinsey is considered to be more prestigious than BCG and Bain Yet despite the huge salaries on offer the report said that the number of people leaving the consultancy industry was higher than at any point since 2008 Both the Big Three and the Big Four offer significantly lower salaries to workers in its London offices In the case of PwC s consulting business Strategy graduates receive a base salary
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Management Consulting Salaries 2024 This is a breakdown of management consulting salaries in 2022 Learn how much management consultants make based on the firm and their experience level Here s what Bain BCG and McKinsey are looking for from their MBA hires By Matt Kefford Tue Mar 7 2023 3 It s hard to look past Bain BCG and McKinsey when it comes to consulting Year after year swathes of ambitious MBA graduates enter the ranks of the Big Three consulting firms keen for career success and lucrative consultant
7 PwC Strategy Max Total Compensation up to 280 000 Strategy not so recently acquired by PwC is 7 on our list of best consulting firms for MBA consulting salaries The firm matches BCG on base salary 190 000 and offers a max performance bonus of 33 the base salary But what does a typical management consultant salary look like We ve surveyed recent hires by firms like Bain BCG McKinsey Accenture and Deloitte and can tell you In this article we ll provide An overview of management consulting salary data Management consultant salaries for undergraduate and Master s degree full time hires
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Big 3 Consulting Salary Progression - Project Leader 3 4 years out of MBA 200K 230K Associate Partner Associate Principal 5 7 years out of MBA 250K 400K Partner Principal 8 years out of MBA 500K 1M Senior Partner Director 10 years out of MBA 1M Below is a chart depicting average compensation from 122 consulting firms