MBB salaries ($75,000 to $6,000,000+)
Hi guys,
From our conversations with others in MBB firms, we put together our definitive guide on MBB salaries. If you are in MBB, please let me know if this is consistent with what you know:
Not surprisingly, the management consulting salary is quite attractive. Most of the top consulting firms offer three components that make up the total compensation for the management consultant:
Base salary
Signing bonuses
Year-end bonus
Retirement contributions
The lower your rank in the consulting firm, the lower proportion of your total compensation is from the year-end bonus. For example, base salary makes up the majority of total compensation for a Pre-MBA, while year-end bonus makes up a higher proportion of total compensation for someone close to making Partner.
The following data is based on base salary ranges and year-end bonuses of the top 3 management consulting firms: McKinsey, BCG, and Bain
First year out of undergraduate (Pre-MBA)
Base salary: $75K
Signing bonus: $5-10k
Relocation/moving expenses: $5-10k
Year-end bonus: $5-20K depending on firm and individual performance
Second year out of undergraduate (Pre-MBA)
Base salary: $75-80K
Year-end bonus: $5-20K depending on firm and individual performance
First year out of business school / MBA
Base salary: $140-145K
Signing bonus: $20-35K
Relocation/moving expenses: $5-10K
Year-end bonus: $10-40K depending on firm and individual performance
Second year out of business school / MBA
Base salary: $145-155K
Year-end bonus: $10-40K depending on firm and individual performance
Engagement Manager / Project Leader
Base salary: $160-185K
Year-end bonus: $30-70K depending on firm and individual performance
Associate Principal / Senior Project Leader
Base salary: $200-220K
Year-end bonus: $60-120K depending on firm and individual performance
Principal / Partner
Base salary: $300-500K
Year-end bonus: $200-500K depending on firm and individual performance
Managing Director / Senior Partner
Base salary: $500K
Year-end bonus: $1-6+M depending on firm and individual performance
Can you visualize this with salaries from other firms (Big 4, boutique, etc.)?
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