Hey All,
I want to get the ball rolling with an 'MBA offers thread' (just received mine today)..
MBB: $135K w/ $25K signing. ~20% Performance bonus.
Post yours below, but give some sort of indication as to what the firms are.. (ie: MBB v. not MBB)
Good luck.
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It'll be helpful if you post what school you go to as well
Nice dude! I'd love to hear your school, prior WE, etc.
$185K all in first year? Not bad, not bad.
McK is 135k base w/ 25k signing and year-end bonus up to 35k. With retirement, max first-year comp at ~$215k with ~$180k guaranteed (average first year comp probably right at $200k).
Are you sure they do retirement first year? I think most MBB the retirement doesn't kick in until you have 12 months under your belt.
Nope. McK is immediate vesting, immediate eligibility. No service requirement.
Also, offers are the same nationwide so region is irrelevant within the US.
If these numbers are true, that's pretty sad considering how horrible consulting work can be...jeez thought they paid more
If you find another entry-level type job with first-year comp of ~200k and average hrs/wk in the 50-75 range I would recommend you take it. There aren't many.
So you supposedly went to a Top 15 MBA program and you're just now learning what post-MBA consultants make?
Okay, guy.
It would also be helpful to know your division/group.
Thanks all,
Per your Q's: 1.Top 10 B-school in midwest 2. Background is corp. finance 3. Group: C&R
Tred, I read that McK was at $20 sign on - what region are you in?
You were probably reading last year's data. Its $25k this year. I'm in North America.
I think he meant what region of the US. Ex: NYC, Chicago, Atlanta, Dallas, LA, etc.
Congrats!
I think your right, vested after 1 yr. But - I still think it counts in 1Y comp totals from a practical standpoint
PMed ya!
Thanks Tred. You know data points for Bain? Heard they were moving to $140K base (+$25K SOB).
OP,
I have a serious question. Let's say you did not go to a prestigious undergrad school and did not have a brand name job after college, but you still managed to get into Booth or Kellog - would be at a disadvantage for recruiting at MBB? Or do you start with a clean slate in B School recruiting? Thanks.
And what is C&R?
No. The college where I got my four-year-degree literally was a community college until about 10 years ago. I flunked out of college the first time.
Doesn't matter where you went to undergrad if your grad school is competitve.
(EDITED TO ADD: I'm at an MBB firm and speaking for consulting. Can't speak to other industries.)
This.
In my experience, McK heavily values brand/prestige. Bain/BCG are more network driven - though still value brand/prestige. I'd say you'd have a better shot at getting an interview at later firms than the former but you never know until you apply. If you get an interview, it is really almost entirely about the case.
So even if the Podunk grad working at a charity makes it to HBS, Mck will not look at them? Sad to know. But I guess that is the reality.
Brand matters but it isn't decisive. I am a "Podunk grad" and my only pre-advanced degree (Im not in b-school) business experience was with a middle of the road Fortune 1000. Made it to at least final rounds with both of the MBB I applied to.
No way this is the case. Lots of students will get interviews through OCR. You might not get an interview, but you very well could, and as it was said, after that it doesn't matter. If you crush the case and you're tolerable to be around, your chances are very good.
I wouldn't sweat the podunk school. I know someone with zero corporate work experience, 3 years running a cycling team and charity races that made it to McK from a 15-20ish ranked MBA. Networked well and killed the case.
Based on my experience, I'd actually say the opposite is true, although I suppose it depends on office/region. From my perspective, BCG is the most prestige conscious, followed by Bain and McK.
Consumer & Retail
In my program, McK seemed to be into HYPS type undergrads while Bain/BCG were more forgiving and looked more at GMAT/Undergrad Major (Engineering is a +), etc. They all still wanted the smartest people.
Basically the way it works at my T10 school is this: McK you drop and while there are events and what not at school its a national team that selects who gets interviews not who you have been networking with - hence you can't network your way in its basically 100% resume ie brand/prestige/scores. Conversely, its the Bain/BCG school recruiting teams that pick who gets interviews so if you impress a few people on the recruiting team you can network your way in. Could be different at different schools but I don't know why that would be the case.
All, thanks for interest in thread.
A few things in no particular order:
MBA is pedigree, no one really cares about your UG degree... B/w all firms recruiting from top 10 schools, not a big deal.
Networking is important for GMC, IB or any other heavily recruited field... Equal backgrounds/credentials, tie goes to known entity
Whats GMC?
Global Management Consulting, but what most of us on WSO just call "consulting".
Interested to get some data points from folks that moved into investment management/AM/MF/HF/etc.
Each MBA program essentially says the same median/bonus/sign-on/etc. but those aren't real humans
DE Shaw
400K base 100-500% bonus
Nice job man...congrats.
Wow, that has to be an impossible job to get, congrats.
That's awesome, congrats. You set a difficult standard for everyone else
Want to elaborate a little? What kind of job?
Lol
^ very true in my experience.
Cool story
Why are people posting about non-consulting offers here?
Because it appeared on the home page, just realized it was consulting specific.
Why would D.E. Shaw want MBAs for a quant/trading role? Common, the guy is a trol
Top 15 MBA
175k base, 75k sign (25 cash plus 50 stock), 150k annual target bonus
Houston - A&D for Small Oil Co (200 employees)
Damn. More details please. I want to go down the O&G path.
What's A&D, sorry?
Acqusitions & Divestitures. Small independents paying way above Supermajors these days and the stock can make you a pretty penny over the years. Mostly want petro eng/mba for these roles but banker/business background also can work.
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