Curious to know what the starting salary at MBB firms is for Associate Consultants / Business Analysts (straight out of undergrad or masters).
Sep 02, 2020
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From 10 rejections to 1 dream investment banking internship
“... I believe it was the single biggest reason why I ended up with an offer...”
It's low compared to investment banking, no exact figure but I imagine £35-48k, 10% bonus and other perks.
However learning experience / skills is probably better than banking (especially if you want to exit the industry altogether), people will be smarter, and it's pretty probably more prestigious (unless you're doing M&A at a BB / EB).
Put it this way, if I were to choose starting my career at McKinsey vs Credit Suisse, on purely an optionalkty based mentality, I'd choose McKinsey. Add in other banks (GS / JPM / EVR / LAZ), it gets more interesting.
I'm happy I chose banking and plan to stay in it long term.
Base is effectively same as banking, only bonus differs
OP, answer is ~£45k Y1, all in comp up to ~£60k. If you're fine foregoing a bit extra bonus for having weekends it's a good trade-off. Much more competitive recruiting process than banking so be realistic and open to "Tier 2s" etc.
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