Comp for summer interns?
How much do MBB/T2 firms pay for summer interns? I know Strategy& pays 41/hr and I think Parthenon pays 31/hr. Why is there such a big discrepancy?
How much do MBB/T2 firms pay for summer interns? I know Strategy& pays 41/hr and I think Parthenon pays 31/hr. Why is there such a big discrepancy?
+16 | Lateral to MBB from Investing Seat | 18 | 10s | |
+12 | Premed to MBB Recruiting | 2 | 6d | |
+9 | Unique Consulting Recruitment Situation | 0 | 49m | |
+9 | How to use my time properly? | 0 | 5h | |
+9 | Seeking Advice: Applying for Consulting Roles Post-MSc—Home Country vs. Study Abroad Location | 1 | 3d | |
+6 | Baker Tilly Consulting - Thoughts/Reputation? | 0 | 12h | |
+3 | On campus jobs? | 3 | 2d | |
+3 | Am i cooked for MBB | 6 | 2d |
Career Resources
MBB doesn't pay interns hourly. They're paid at the same rate as full time employees.
Bump
MBB intern pay is relatively the same as full-time base pay (~$90,000), pro-rated to start and end dates (~$1,700/week).
You can find pretty accurate info on ManagementConsulted's salary report.
no...MBB pay is worse if you do the math. Its roughly the same if you assume a 40 hour work week, but nobody at MBB works 40 hour weeks. Similarly at Strategy& ppl aren't working 40 hour weeks. And don't forget about overtime. Let's say interns are working ~60 hours per week.
S& Pay: $41/hr*60hr/week = $2460/week + overtime of 20 OT hours*$20.5/OT hour = $2460/week + $410 OT/week = $2870/week
MBB Pay: $~1,700/week / 60hrs/week = $~28.3/hr
This is coming from someone who took MBB over S& and was really shocked by the disparity in wages.
Wait fr? That difference is insane. Is this the same across T2 shops or is S& an outlier in terms of comp?
While this is true at 60 hours/week, that is a strong assumption. It is likely that because of the comp structure, S& has a strong incentive to have interns work less hours. As an MBB intern you would be average a bit less, likely 50-60 excluding travel, unless you're on a PE rotation. Just to gut check your math here, to say that S& is paying undergraduate interns $2,870/week is to say they're paying them $150,000 on an annualized basis, nearly 70% higher than what they're paying full-time undergraduate consultants.
Does anyone have any insights on T2?
I have heard similar things about Strategy & and EY-P.
Similar things as in pay is similar on a per hour basis?
I can confirm with above My MBB is paying interns a little over 1700/week
Oliver Wyman is paying interns 1600/week with a 2.5k signing bonus
This whole thread is making me feel underpaid at my mbb :(
Turns out the big brain move is to take the S& internship and MBB FT
Rerum sit voluptatem qui laboriosam suscipit placeat quidem. Assumenda ipsum non assumenda dolores in qui. Delectus adipisci quam animi quas quasi sunt. Cumque molestiae quis illum voluptas. Expedita doloribus qui similique debitis soluta blanditiis necessitatibus. Beatae quia culpa sed porro. Amet minima ipsum ducimus nihil iure.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...