MBB salary changed based on local rate/pay?
Let's say you are newly hired MBA graduates of MBB with a salary of $135,000 in USA, and after one year of work at MBB, you decided to move to your MBB office in Europe (Paris or Berline for example). My question is: will your salary in the new Europe office be the same/equivalent as the original $135,000 in euro, or will this figure now be based on the "local rate" which are significantly much lower than the salaries of North America counterparts? It does seem like that the starting salary for MBB out of MBA in Europe is much lower than that of USA, so yeah...anybody has experience before?
interested as well
Interested as well... what about a transfer to an office in a developing country (say the Beijing/Shanghai office). How about a 1 year exchange?
Longterm Transfer - You will be paid the local rate. But at least for the European offices, the difference is not that much, considering the exchange rate etc. As far as I know (MBB in Germany would pay around 100k EUR +car deal) - this might be different though if you were asked to transfer (for example if a new office opened and they need experienced consultants to help build it up)
Short- to Mid-term Exchange - At least at my firm, you will be paid your normal salary + an additional negotiable bonus
I'm not sure how it works but atleastimnotabanker's response seems pretty accurate. Also, your ability to actually switch offices after only a year will likely differ by firm.
I'm at a top consulting firm (not MBB, think OW, Booz, LEK, Parthenon) and from what I hear, for short term transfers (3 months - 9 months), employees are paid either their normal salary from their home office (usu. shorter transfers) or are paid a percentage of their normal salary as well as the other percentage of their transfer office salary (longer transfers).
For permanent transfers, you will definitely be paid in line with your colleagues at your new office.
Out of MBA salaries at MBB are not that different across offices.
Salaries in Europe are definitely not "significantly much lower" than in the US. It could be partly true in Eastern and certain Southern European offices, but not in Paris and Berlin.
My summer intern salary at an Eastern European office was significantly higher than 135K on an annual basis. It depends on the country that you are looking into.
May I know which European office was that?
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