First Year 2014 Salaries-MBB, OW, Deloitte, PwC, Booz, ATK, LEK
Summer internships and full time recruiting have long been done. What are the post-undergrad and post-MBA salaries looking like this year?
Easy format to fill as much as you may like.:
Company:
Level: (Post-Grad School or Post-Undergrad)
Base:
Bonus:
Signing Bonus:
Relocation:
Profit Sharing:
Vacation:
From what I hear they more or less lined up with http://managementconsulted.com/consulting-jobs/2013-management-consulti…-interns-and-more/ from last year.
What always puzzles me though is that it lists McK as not giving performance bonuses, when I always thought their comp was on par.
Yeah, McK doesn't do performance bonuses at the BA level. It's kind of analogous to the "GS paycut" in banking.
McK definitely has performance bonuses for BAs starting in 2014 in U.S. offices. Not sure where you're getting your info.
This is 100% true, McK does not do year-end bonuses. BUT, if you are highly rated (I think a 5 is the highest), you get a 30% pay increase or something like that. So in year two, you would be making 30% more, and if you are the highest rated person again in year 2, you do the math.... so in year 4 plus a promo, you are doing cooler stuff than a banker and you are bringing in more than 200k a year or something close to that.
I am sure McK does performance bonus at BA level in some non-US offices.
I've heard of the 30% increase, and McK also definitely has performance bonuses for new BA offerees.
Can confirm that McK is doing performance bonuses to BAs starting in 2014 and that they've never offered to BAs before.
Guys, I don't know where you are getting your info, but in some offices McK has always included performance bonuses in BAs offers, even before 2013.
I have heard BA's getting bonuses in previous years as well. But the counter evidence is mostly coming from the aggregate of the link I posted above.
I always thought it should be an all or nothing thing, because it's almost always represented in the contract. It would seem pretty questionable (potentially creating a toxic work environment) if some first years got bonuses in their contract while others didn't.
It isn't all or nothing. Compensation changes from one office to another, or more specifically from one market to another. For instance, McK provides signing bonus in the US and does not in some developing countries, because they have a stronger brand on those countries than Bain/BCG.
My post was specifically referring to U.S. offices and I believe that's what Sour Patch was referring to as well. It makes sense that compensation would vary across geographies/countries.
I've been told that McKinsey pays its associates and EMs the same salary across geographies. I'm a little skeptical though. Can anyone verify if this is true?
100% true for associates. Not sure anyone can say for certain for EMs since there is a natural range due to performance/advancement differences. From what I know, however, seems to be true for EMs as well.
Helpful hint, the compensation board at WSO has a lot of this information for various years ;)
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