How much does the MBB pay?
What do 1st years make all in comp?
Heard Mckinsey pays like $100k all in comp? Seems pretty low compared to banking at least
What do 1st years make all in comp?
Heard Mckinsey pays like $100k all in comp? Seems pretty low compared to banking at least
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Yes, most banks do
And a ridiculous amount of airline / hotel points? And PTO? And light Fridays / protected weekends? And, let's be honest, social interaction?
McK pays 90k base out of undergrad. With signing bonus and 401k contribution, everyone's making over 100k before performance bonus.
How much are they getting for 401k
7.5%
$140K all in for a fresh graduate.
Source: classmate who landed a McKinsey job out of a resepcted MSF/MSM program.
that’s for a masters student tho correct? not straight out of undergrad
They'd be hired at the same level
Correct.
I’m assuming this includes 401k and other types of comp-not just cash comp?
Not including 401K or equivalent. I believe that included a one-time signing bonus between 10-20K.
The salary seems to be pretty transparent at analyst level. Unclear how you square that $140k # ? I guess is you add base plus bonus plus sign on plus 401K plus value of " meal /daily expense tab" you could get close. 85k base + 15K bonus + 10K sign on + 7.5K 401K + 7K (meal allowance/travel point value) = 125K . Would be interested in knowing if 140K is a reality or if that is a bit of a stretch.
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140k is a stretch for a first year BA. It's about right for an experienced hire BA before 401k contribution, which is about another 10k.
current MBB first yr max comp is between 110 and 120, depending on the specific company. M has the most upside for performance bonuses, though I hear the max first year bonus is only given out to like the top 5-10% of analysts
comp growth is pretty nice though. at M, you can get promoted to manager in 3 years and make between 250 and 300 all in.
the lower comp compared to banking is made up for by better hours, more varied exits, and more interesting work (subjective)
You *can* get promoted to manager in 18-24 months. They're really not kidding when they throw around the word "meritocracy." 3-4 years is more typical but either way, comp growth is solid for those who stay.
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110-120 is what i’ve heard as well. That’s good $$$ damn
I can confirm BCG's total year 1 comp is ~118k, which consists of base, performance bonus, signing bonus, and 401k. Pretty nice haul until I compare it to my banking friend's income and I'm like... Damn I should've done IB!
Bain is 90k base, 15k target bonus (22.5k max), 5k signing, 5k relocation, 4.5% 401K contribution (base + bonus) = about 5k, profit sharing 0-20% of base + bonus that vests after 3 years
All-in, the max total comp for a 1AC at Bain is $127,500 not including profit sharing.
Source: recent AC offer
I thought profit sharing was 75% of your bonus payout, although that might be at the C and M levels.
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