Looks like 2015 ManagementConsulted Salary numbers are out

mbag

How good is big 4 consulting out of top 15 mba schools? I always thought that it was a huge step down for grads from top 15 programs, but the money does look appealing.

Depends, it's a complicated question.

Deloitte S&O is almost as good as MBB (although still decently far away), Deloitte Human capital or Deloitte Technology consulting is going to be a further step down. PwC is worse than Deloitte, although Strategy& - which is now owned by PwC - is as good as, if not better, than Delotte S&O. KPMG just formally started a pure strategy practice this october, so no one really knows. EY consulting has a completely different structure and is transaction based. EY also bought Parthenon, which directly competes with MBB for both clients and employees, and pays $170k.

You also have other tier 2 players such as AT Kearney, LEK, etc which are equal to, or better than, Big 4 consulting. Then you have tier 3 players like ZS Associates and Accenture (Accenture has made a pure strategy arm so is arguably tier 2 now).

Anyways, the main difference is this: Deloitte S&O you can get the same exit ops as MBB, with the exception of PE. As you move down the tier 2 into tier 3 firms, your options start to go down a bit because you start doing less strategy work and are working with people further away from the C-suite. But even then, thats arguable - Accenture is huge in IT and ZS Associates is huge in heathcare, so you can get sweet exit opps if those areas interest you.

If you want to to be a consultant long term, a MBB principal (level before partner) makes around the same as a non-MBB first year partner. So the tier 2 firms still pay a ton (average partner at Deloitte S&O made $800k in 2007), although less than MBB.

. It's important to keep perspective, they are all great jobs. Think of Post-MBA MBB as a top 0.5% job, and a tier 2 as a top 1% job. It's similiar to how people working at Goldman are better than someone working at Bank of America M&A, but both jobs are still hard to get and most normal people would kill to get either. That said, when you're surrounded by the best of the best at your business school, its easy to lose that perspective.

But, you also have access to high paying, and much easier corporate jobs, so many people choose that route over tier 2 consulting. For example, my friend works corp dev at a insurance company - $130k starting salary, 20% bonus, and 9-5 hours.