Offers and Salaries for '08 ACs
Anyone gotten an offer? Anyone finish a summer internship in '07?
What did first year salary + bonus look like at McK, BCG, Bain, etc for 2006? Base in 2007? Any bonuses yet? Offers in 2008?
Anyone?
Offers for 2008 are 65 + 7 signing, i think.
a best friend of mine just got McK - $50 salary, $1 signing...ugly right?
Damn. Are you in a really low COL area?
its 65K + ~13-14 signing for mbb
All figures above are for analysts. Associate in Continental Europe make 95 k EUR base, which is 140k USD + 20k USD bonus + 25 k USD put in long term investment thing + firm car (e.g., BMW Z4) - thats the deal, of course numbers sound high due to low dollar...
Actually, your numbers sound high due to a low dollar AND the fact that you're misinterpreting the original post. By AC the OP is referring to an Associate Consultant position, which is a direct from undergrad hire (at McK, these are known as BAs).
I thought AC = ASC = Associates...for Junior Associates it's about 90 + 15 + 17 + firm car (e.g., Audi A3) + guarantueed sponsorship for MBA after 2 years without need to come back (50 % of tuition + 90 k to live of); but again: all due to the high Dollar, but maybe some Americans want to come over;-)
spiderman - what firm is that? sign me up!
Spiderman, where the hell are you getting your numbers?
those sound kinda ridiculous
I do know that getting firm cars is common at MBB in many Europe offices, but those comp numbers are definitely overstated.
associates, post mba : 67k gbp base, sign on 15k gbp, + cash allowance for car 5k gbp...bonus stated to be upto 20%.
I agree with the firm cars, but that usually only kicks in at post-MBA. I don't think analysts get cars....
Btw, Middle East > Europe in terms of perks, money etc.
what kinds of perks do mbb's ME offices offer? pre-mba analysts?
Bain and Mck are both ~80k, incl signing bonus and relocation: 65k base 5k signing 3k relo 4k 3 months prior to strt (for apt or whatever) ~5k end of year bonus and, in NY, they pay broker's fee too for finding apt up to 15% of 1st yrs rent
BCG's total is closer to 90k. They need to pay more becuase they are a (marginally) shittier firm to go to straight out of college (less "prestige" than McK, less exit ops than Bain)
Lol questions, you have no idea what you are talking about. If that were true, then Monitor would pay 100k. I have no idea what the pay packages are this year but I can 100% guarantee they are identical across all major firms.
MBB is 65K + 15K or so.
BCG isn't paying more.
What are these "greater exit ops" from Bain that you're talking about? In what sense? The only place Bain has an advantage is perhaps in PE exit opps. BCG has a fantastic international brand-name, far ahead of Bain practically everywhere outside USA. They have fantastic exit opps into industry, probably better than or equal to Bain, especially since Bain does a lot of Middle-Market work. Their PE placement may not be tops, but they also a have a smaller analyst class and it may even be a function of diverging interests. Bain does a lot of PE work, their analysts get exposed to it, they go for it later. It subsequently attracts individuals interested in PE and PE consulting. BCG was always seen as a more "academic" firm and the individuals I know who went to BCG were every bit as impressive as their Bain-bound counterparts, but most of them weren't interested in PE or Finance.
McKinsey's exit opps are probably the same as Bain and BCG, likely better internationally where Bain/BCG are not as big (quite a few places). Don't know about this incremental "prestige". Meh.
Yeah, it's all on the margin, and in industry & b-school they're all the same, with Bain trailing the industry placement a (very little) bit. But if you work at any of the big 3, practically set on that end. In buy-side, Bain prob leads them both, esp for PE.
I go to a top target, and a few BCG interns interviewed with Bain (not McKinsey), but no Bain or McK interns interviewed with the other Big 3. For a consulting "career," it's fair to claim that BCG or McK is better than Bain--more academic, more international, etc. But straight out of college, tough to see the comparative adv of BCG...at least that's what actual interns at BCG found.
I got offers from Bain and Mck and BCG (working at none of the 3, not in consulting) so I'm not making these numbers up. Maybe BCG doesn't pay more because of optns difference--their revenue per capita is actually higher than Bain's, and Mck's too (I think true for McK), so that could explain it, I guess. But either way, the tradeoff in picking it would be pretty clear--5-10k more today, for worse optns down the road.
Last point: incremental prestige matters. Not much, but it does somewhat. Why would McK place as well as it does into PE when BCG doesn't, given that the two have similarly small PE practices? Think about it.
If you don't want to be buy-side and know 100% that that's true, then go ahead and take the extra money today and do BCG, or take the very marginal extra prestige and go Mck. But if there is any chance of wanting to go buyside, you're relatively DOA at BCG.
In EUR the figures are 55 k + 10 K + 10 K Longer term investment (you get it when you leave the firm) + the mentioned firm car. But what is really important is that you also get a guaranteed MBA sponsorship (50% of tuition) + 55 k for living the year you are off to MBA (typically INSEAD 1 year program). In total this is a 3 program: 1st and 3rd year (MBA) as described above and in your 2nd year you get kind of 90-100 k EUR all in...it's a really good deal as you can do this in cities as Berlin where everything is INCREDIBLY cheap (e.g., appartment with 2 large rooms at 500 EUR / months)...Nevertheless it's a bit above BA as in Cont. Europe BAs where non-existent so far as averyone graduates as Master (4 years). I think that has changed recently due changes in the uni system. No they also hire classical BAs (3 years of uni)
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