What do you think? Just like last year, PwC and Strategy& are still not aligned.
https://managementconsulted.com/consulting-salari…
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Fascinating that McK is so aggressive this year; in the past didn't they pay less than others?
It looks like for post-MBA they increased the base, but the overall comp is still on par with BCG. Bain (as usual) lags the other two.
From what I've seen in the past, McKinsey is typically the first to raise salaries, but if they did so this year I would expect BCG and Bain to raise next year.
I worked there and was able to pull in almost $100k in my first year, although I was working crazy hours and billing amongst the top in the US and Canada.
I think the list should be taken with a grain of salt. It is very city dependent for the UG numbers, and experience dependent for the post MBA numbers. I know people in from UG and post MBA at a few of the firms listed, and some meet the numbers while others fall a little short, up to a lot short. For example, a no or little experienced MBA should not expect to receive up to $220K from Accenture or $200K+ from EY. The UG numbers look pretty accurate based on the people I know.
Agreed, there are definitely inaccuracies, because they crowdsource from a relatively small sample. Usually over the first few weeks they update them as they get more numbers in.
That being said, they're directionally correct
Wanna know how I can tell you're a consultant?
Shoot, exposed. Might as well peel the onion on this one and add some granularity for the non-consulting folks
MBA offers are standardized in the US. Everyone gets the same base and signing unless a firm does a small cost of living adjustment, but most don't.
Performance is obviously variable but has nothing to do with experience. Also, as I've stated in another post below, bonus figures are very inflated for some firms on management consulted because they use top bucket which almost nobody gets. For example, EY is probably more like $5-14k annual bonus first year out of MBA. As mentioned in my post below, use TransparentMBA.com for more realistic all in comp figures, the site is pretty much dead on for all post MBA with normalized expectations for performance bonus. For example, they suggest $20k at Accenture for performance, not the $44k figure on managementconsulted.
I'm guessing that your post MBA friends went to non targets and didn't recruit through OCR - sometimes people hired through industry experience make between UG and MBA pay. If you're friends earned an MBA but weren't recruited through their MBA, they are likely falling into that bucket. Either that or they're in a different group that still falls under consulting but aren't the strategy groups the site refers to. Anyone who went to a top 20 is getting the same thing.
Base numbers are nearly all correct for post MBA. Those that aren't I've heard whispers that they're being adjusted due to MBB increases (so the traditional matches are probably going up). Hold tight if you're at one of those firms.
Annual bonus numbers are always inflated on managementconsulted - they use top bucket. TransparentMBA.com is the best resource for more reasonable figures on individual firms. This site came out of Booth this year and I've found it very helpful as a comp guide (and also highly accurate).