2009 First Year Consulting Salaries
Curious to know. Any info you guys have is appreciated....thanks!
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This is an 09 offer at MBB
65K base 5K signing 7K moving expenses performance bonus usually around 5K, not much variation
total 82K
62K base 5K signing 10k performance bonus, with some variation Great health benefits
77K + great health benefits, at an MBB smaller office
This is at a top consultancy, but not MBB.
70k base No signing bonus 5k moving expenses 2-8k bonus, depending on performance 7k retirement contribution, vesting starts one year out and is 100% vested after four years. Amazing health benefits
Total - around 80k in salary after tax, depending on performance.
West coast MBB:
65k base 5k signing (+ ~$13k relocation) up to 6k bonus (5k bonus bonus for first year) ~4k retirement contribution
"Possibly > 90k total comp in first year"
non MBB:
65k base 10k signing 15k-25k bonus with variation
if non MBB it may be helpful to specify the type (economic/litigation, strategy, etc)
This is all fine. Just remember: you can´t buy bottles with Starwood hotel points morons. If you are in consulting, you were not good enough for banking
Talk about retardation. I've interned at both a top bank (GS/MS) and one of the MBB's, and I can tell you the quality of people is similar.
True, you can't buy bottles with Starwood points, but at least you'll have a job. The days of the 130k+ first year banking salaries are over, at least for the next few years.
You are good enough to shine my shoes in an airport right now banker noob.
Whats the difference between a large pan pizza from dominoes and a banker? The pizza can feed a family of four.
The sell side is actually gone right now. Good luck keeping that attitude in a year. Get back to excel.
You also can't buy bottles if you're in the office until 2 a.m. every Friday and Saturday.
And you can't buy bottles with SPG points... but you may be able to expense them :-P
Don't get too heated up, he is probably still a freshman. :)
Who needs money when you've got a Corporate AmEx?
"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
who wants a corporate amex when you can charge it to your personal starwood amex, collect the points and get reimbursed?
Hahahaha
"I don't think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature." -John D. Rockefeller
Who wants a starwood amex when you can charge it to your personal amex blue cash, pay no annual fee, collect CASH REBATES and get reimbursed? :)
"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
Who wants a personal amex blue cash, when you can charge dinners to your personal Citi mtvU card, and get 5% of the bill applied to your student loans? :-P
I don't have student loans.
"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
Eww.
man everyone's is crazy high...i guess with MBB or the like they would be. As such im just happy to have just received an offer at a firm that i like doing what i like: non MBB (west coast corpfin consulting) 58 base 3 signing 5-10 performance 66-71K total first year
Does McKinsey not do bonuses?
They do, 5-15K for 1st years.
Though I've heard its pretty much just 10
1st years are 62K base, 5K signup, +10 K bonus = ~ 75K all in
Not bad for 60-65 hours a week and no risk
What i've heard is that the more prestigious the company, the less it pays, is it true ?
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@big_unit Thanks for the bonus info. I'm 95% sure base is 65k though (at least in the cities my friends got offers in).
Ringtailuredlemur, that sounds about right, I guess the 3K variation might be on a firm-by-firm basis and might be broken out as a relocation stipend or something of the sort for other firms.
Also, its my belief that bonus variation is lower in consulting (as in, 10k is very standard)
If any other former consultants want to weigh in, please let me know (I was in an MBB satellite office which is where I got my info from)
satellite = non Boston or just no dedicated HR/ops?
Satellite = not major city, with HR stuff run out of nearest major city (ie a Chicago, LA, Boston, Atlanta, NYC)
May just be a timing thing - I think the move to $65k happened fairly recently.
wrong thread?
models & bottles ? Try a desk and healthcare
lol
Former Big 4 Strategy & Ops
65k base 10k sign on
Top Econ/Litigation Shop 65k base 5k sign on 10k - 15k bonus (slammed with work this year)
I will be starting as an IS consultant on the functional side (finance major)
55 base
5 bonus
5 relocation
I know its a little below base but I am just happy to have an offer and secure in a very strong tech company for the next couple of years
payscale is a great site to compare salaries in almost every field and if it doesn't cover one i found looking on monster.com and even craigslist to see what companies are paying for positions. Our company just started using a peo to manage our salaries.
65K Base 8K Signing Moving expenses 5-15 Performance
everyone else was pre tax, had to be a typo
M/B/B, major office Europe (based on XR at offer date I found these figures):
95k base 10k signing bonus 17k bonus
=122k
Plus retirement contribution and awesome perks...Did I mention 6 weeks vacation?
No wonder I turned down one of the two best IB groups (GS TMT or MS M&A)...
If it helps the IB analysts sleep at night, I can disclose that the XR has weakened against the dollar since then.
HotShot, what are your income taxes like?
Fairly high tax level, which to some degree explains the high salary. The firm also adjust salaries for PPP.
Hotshot, that's obscenely high pay if you're just out of undergrad.
For Non MBB, 2nd tier: 70K base 7K signing + relocation
I have four years of higher education to show for and no work experience except for internships, thus no phd/MBA.
hotshot, were you recruited out of US or Euro undergrad?
This is a dumb question, but does MBB stand for McKinsey/Bain/BCG?
Yes
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