Hello All,
I did a thorough search and was able to come up with some dated information, but nothing that is recent. Especially now that a lot of banks are diverting bonuses to base salaries.
Can I ask all of you that are Associates in IBD to list recent salaries and perhaps some accompanying information like BB/MM/botique, and whether you are direct promote from analyst, or from MBA.
In exchange I dug up these stats for MBB for those that want. (courtesy of www.managementconsulted.com)
For McKinsey…
Signing Bonus: $20,000
Base: $135,000
Performance Bonus: up to $35,000 for your first year
Relocation: $2-9,000 depending on distance
Total compensation: at least $192,000
Retirement: up to $20,400/12% of bonus + salary is put into retirement fund, no contributions required
For Bain…
Signing Bonus: $20,000
Base: $135,000
Performance Bonus: up to $35,000 for your first year
Total compensation: $184,000
Retirement: 401(k) contribution up to $8,000
For BCG…
Signing Bonus: $20,000
Base: $135,000
Performance Bonus: up to $40,000 for your first year
Relocation: $2-5,000 depending on distance
Total compensation: at least $197,000
Retirement: up to $9,000/5% of bonus + salary is put into retirement fund, no contributions required
Down the road: Project leaders at BCG (approximately 2-3 years out of B-school) were paid $185,000 base.
All BB's:
100K base 40K sign on stub bonus of approx 30K in the december and a bump to 125K (although some banks froze the bump)
Stub is 35-40 at many places though it is down from street standard of 40 a couple years ago. Many banks were paying year end bonuses in varying structures of cash, immediately vested equity (essentially the same as cash) and deferred equity. Typically sub 100K bonuses all cash.
@trailmix: Which one are you leaning towards? Consulting or Banking?
How does INSEAD's recruiting look for NYC MBB or Banking?
Couldn't tell you right now. I saw Bain at a campus presentation and fell in love. Saw BCG, McK, Siemens but ly put them down as a maybe. But I am far from convinced to go to consulting. I am looking to meet with some physical commodity trading shops this month (trafi/glencore/mercuria/etc). And IBD is also not out of the question as I am talking to some bankers as well. So I am just feeling around to see whats what.
I guess its the beauty of being a first month MBA, its an information gathering process. Because no matter what I go with, I want it to be my long term career, so research is vital.
Do you mind sharing what made Bain so much more enticing than McKinsey or BCG? How has the overall experience at INSEAD been so far? Anything like Brady states, or just constant networking and fairs? Curious to hear.
I think if anything it was a personal preference. I feel that I better related to the partners that spoke and would feel very comfortable working in the environment that they conveyed. Nothing too specific that isn't directly related to my personal preferences.
Insead experience has been great so far, granted its only been a few weeks, but no complaints. As far as what Brady writes, I guess the best way to put it, is that it is as true as you make it. Work hard, play hard atmosphere.
Just realized I never answered the second part of your question.
It totally depends on the company. Some of the firms are very specific that they want you to work in London/Frankfurt/Zurich etc.. But others let you give them the top three picks for the office you want to work at.
MBB in general all seem to have a culture where you can move offices whenever you please (within reason of course).
You're getting the at least total compensation numbers by adding up the base + upper limit of performance bonus . That doesn't seem to make much sense . Or are consulting bonuses not organized into buckets?
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