Mbb Pay Scale Value base salary more than signing and relocation bonuses Your salary during your 2nd and sometimes 3rd year at the firm is often a function of your initial base salary All else held equal we would recommend choosing a base salary of 92 000 with a 5 000 signing bonus over base salary of 90 000 with a 7 500 signing bonus
In this article we will explore and compare the salary of management consultants at 13 top consulting firms including the Big Three MBB firms the Big Four firms and six Tier 2 firms Accenture Booz Allen Hamilton Kearney L E K Oliver Wyman Roland Berger Disclaimer 1 Unless stated otherwise salaries in this article are based on US figures 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 While MBB firms froze salaries they offered other perks and there are some differences here Bain offers relocation of 5 000 a housing allowance of up to 5 000 along
Mbb Pay Scale
Mbb Pay Scale
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An MBB consultant with an MBA or PhD could expect a performance bonus of up to 63k but a Big Four consultant could only expect 17k in some cases at KPMG Business School s latest employment report suggests that the average median graduate in consulting earned 190k in salary and 70k in additional bonuses 260k total We re taking a 360 degree view of the management consulting MBB consulting career path which is so popular among today s MBA aspirants Meet the Team BCG Consultant Salary 190 000 Up to 43 750 Up to 233 750 30 000 10 Profit sharing into 401k PL and above Up to 8 000 McKinsey Associate Salary 192 000 Up to 45 000 Up to
MBA hires have reported annual raises in both their base salaries and bonus packages by double digits and this is excluding promotional salary bumps Once a consultant is promoted to manager 2 3 years post MBA 4 5 years post college their base pay increases to around 220 000 Other firms like PwC for example have a pay scale that varies by office An Associate in PwC s Atlanta office would have a slightly lower salary than an Associate in New York because of New York s higher cost of living e g incoming MBA PhD at MBB base here is 175 175 190 but the new numbers are McK Bain 192k and BCG 190k
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At McKinsey the salary for entry level consultants ranges from 90 000 to 110 000 year while the figure for experienced Associates can go up to 233 000 Courses Coaching MBB consulting firms provide strong retirement savings 401 k plans with no contributions required This makes their 401 k plans better than what other consulting 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 Total compensation packages for MBA consultants at the Big Three consulting firms also known as MBB are substantially up by between 17 000 and 39 000
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