MBB in Canada
I'm trying to learn more about the consulting landscape in Canada, specifically for MBB.
1) From what I've read, it looks like MBBs in Canada mostly focus on the financial industry. Is that accurate? Is there any possibility of being involved in, for example, tech projects?
2) Do consultants in Canada sometimes get staffed on cases in the US? Or is it all concentrated in Canada (for BCG/Bain, since McK is more likely to be global anyways)?
3) It looks like Bain offers a lower base salary than McK/BCG (by about 15k for post-MBA). Does this translate to Bain being at a slightly lower level than the other two in Canada?
Thank you!
Bump - Any Canadians here?
Can definitely add some commentary here.
1) Yes - much like IB in Canada / Toronto, client mix tends to follow core industries in the region like FS (banking, insurance) and natural resources (e.g., check out largest market caps on the TSX). That said, leadership / partners will have both an industry (financial services) and capability (performance improvement, merger integration, procurement) expertise. There's definitely still opportunity to be on projects in other industries, I've only spent a combined ~8 months in FS / natural resources in a 3 year career at MBB in Canada.
2) Yes - if a local partner/principal sells a case in the US, or is pulled into an existing US case then there's a good chance it could be staffed locally or nearby (e.g., CPG case in NY/Chicago could be served out of Toronto pretty easily pre-COVID)
3) Starting salaries are benchmarked very frequently across MBB and there's no way any of the three would intentionally offer less from a recruiting standpoint. If you had 2 offers you could probably get them price-matched pretty easily. I also know that Bain offers a profit-share and additional RRSP contribution that might bring comp above McK / BCG as an added performance / retention incentive. Not sure where you're getting your estimates here but safe to say Glassdoor / WSO are likely outdated and this is nothing to spend time thinking about. Expect ~$200 - $230 across the board and don't make a choice between the 3 based on $5k.
Hey Auntie-Consult, thanks for sharing your perspective on this! It sounds like the "MBB experience" is generally not be too different in Canada vs the US.
Would you mind telling me which visa you had to use to be staffed on US projects? I'm asking because I'm a permanent resident of Canada, not a citizen (I can get a B1 visa but not the TN visa which is reserved for citizens of Canada/Mexico, and it's unclear which one is needed). Just wondering if I'd be restricted to Canada-based projects.
With regards to the salaries, I only know about the base for post-MBA offers given this summer from friends recruiting at all three in Canada (BCG/McK's base is 190k and Bain is 175k). You're right that the bonuses could add up to the same total comp, I didn't ask about that. I thought it was maybe due to BCG/McK being significantly stronger than Bain in Canada (vs US where I'd say they all have their strengths). Either way, I wouldn't base my decision just based on salary, but it's good to know.
I graduated from my MBA ~6 years ago and Bain was lower by ~$15K then so I assume it's something that's been going on for a while.
BCG's Canadian offices are also known to be some of, if not the chillest worldwide. Friends in those offices generally have dinner at home and almost never have to work weekends.
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