Thanks, congrats as well.

The relocation assistance is "available upon request." I don't really expect much because my parents house, my school and the office are within like 50 miles.

 

BCG wasn't at 65 last year, and McK was. BCG shifted comp from its retirement match to salary. It all works out the same between McK and BCG, but BCG last year was 72+5 signing +2 relocation, and McK was 65+5 signing + 2 (I think) relocation, but with a higher % in retirement. No idea what 2011 is going to look like.

Life, liberty and the pursuit of Starwood Points
 
bbjhva:
I got an offer from Oliver Wyman FS but in Singapore. I was impressed by the salary. All figures in Singapore Dollars -

15k signing, 80k base, 6% contribution to Central Provident Fund (simply added to my salary as I'm not a Singapore PR), 25% min guaranteed bonus.

I will take that to the bank my friends.

So 119,800 guaranteed. Is that USD or SGD?

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

That's really impressive, I know someone who got Bain singapore at 85k, but no signing. I know for a fact that McK and BCG offers about 15%-20% lower than that. Seems like McK and BCG are lowballing their entry level salary compared to Bain and others. I wonder why..

 

Yes, I have to admit I was surprised at the offer. I would've taken it for much less, but they don't need to know that :)

I actually specifically applied to the Singapore office as I was keen to work there. I contacted Singapore's HR team with my resume and a cover email, and called as a follow up. Then things kind of just happened, did 2 rounds of interviews, and got the offer. I did my interviews in Boston/NY but my interviewers were aware that I was applying to the Singapore office.

 
Nikkisixx:
What are you guys' expectations for performance bonus? It's quite low at my firm (2-5K)

which firm are you at? mine is about the same, roughly 5-10% for entry level, however it obviously exponentially rises as you progress through career

 
Best Response

You guys should not discount other benefits, in particular points and per diem.

From my experience, each year you should have enough points/free nights that can be valued at around $6K-$7K (or $9K-$10K if it was taxed) or even higher if you get enough free nights.

Some firms give you per diem, some let you expense anything. Expense policy is better if you eat steak/lobster every night. But if you try to limit how much you eat at night (and utilize the hotel lounge not just for breakfast, but also dinner) u can save up $30-$35/day from per diem. That's another $5K-$6K (or $8K-$9K if it was taxed).

I drive to airport (mostly for convenience because I meet up with friends Thursday night) and expense the mileage. I guess I can say my SUV (I get 15 MPG in a V8) gas is also paid for in a monthly basis.

This is probably not as effective when comparing offers between consulting jobs, but might be handy when you compare with non-consulting jobs.

 
abacab:
You guys should not discount other benefits, in particular points and per diem.

From my experience, each year you should have enough points/free nights that can be valued at around $6K-$7K (or $9K-$10K if it was taxed) or even higher if you get enough free nights.

Some firms give you per diem, some let you expense anything. Expense policy is better if you eat steak/lobster every night. But if you try to limit how much you eat at night (and utilize the hotel lounge not just for breakfast, but also dinner) u can save up $30-$35/day from per diem. That's another $5K-$6K (or $8K-$9K if it was taxed).

I drive to airport (mostly for convenience because I meet up with friends Thursday night) and expense the mileage. I guess I can say my SUV (I get 15 MPG in a V8) gas is also paid for in a monthly basis.

This is probably not as effective when comparing offers between consulting jobs, but might be handy when you compare with non-consulting jobs.

i agree 100%. its a nice benefit, although not always noticed.

 
abacab:
You guys should not discount other benefits, in particular points and per diem.

From my experience, each year you should have enough points/free nights that can be valued at around $6K-$7K (or $9K-$10K if it was taxed) or even higher if you get enough free nights.

Some firms give you per diem, some let you expense anything. Expense policy is better if you eat steak/lobster every night. But if you try to limit how much you eat at night (and utilize the hotel lounge not just for breakfast, but also dinner) u can save up $30-$35/day from per diem. That's another $5K-$6K (or $8K-$9K if it was taxed).

I drive to airport (mostly for convenience because I meet up with friends Thursday night) and expense the mileage. I guess I can say my SUV (I get 15 MPG in a V8) gas is also paid for in a monthly basis.

This is probably not as effective when comparing offers between consulting jobs, but might be handy when you compare with non-consulting jobs.

This. Frequent flyer miles, if you use them well, are probably worth like 5-10 cents a mile.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 
Consultant2011:
Anyone have compensation figures for boutiques? Really interested in Monitor Group, LEK, Parthenon, etc.

Any word from friends/first hand accounts is appreciated

One of those three is 68 base + 10 signing + ~12% bonus

 

just a curious question... say you got the offer at Wyman in Singapore - do they hook you up with a business class flight on the A380 to get over there? Singapore airlines = so fucking amazing (service, prices, loyalty program, etc) = a great thing about living in Singapore.

 
International Pymp:
just a curious question... say you got the offer at Wyman in Singapore - do they hook you up with a business class flight on the A380 to get over there? Singapore airlines = so fucking amazing (service, prices, loyalty program, etc) = a great thing about living in Singapore.

Doesn't OWFS have a reputation for being a cheapskate on travel? Which means Y until you rack up enough miles to upgrade?

$120k SGD=roughly $91k US. And that's the minimum comp. That sounds awesome, except for the fact that Sing is the 11th most expensive city in the world according to its friend Mercer. So it should be higher than NY (which is 27th).

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

it's true SG is expensive, but probably not more so than NYC. Also, his taxes will be low... not sure exactly what SG's rates are, but I think they're pretty competitive (way lower than the US)... he will not be subject to US federal income taxes on his first 92,500 USD of income.

that's lame that Wyman is gonna skimp on travel... skimping on travel is actually a fucked up thing to do as traveling on business is often painful even in first class / five star hotels

 

It's only from hearsay, I have no idea what the actual OWFS policies are, but I heard they were total cheapskates. And yes I think it's totally lame. They should really spring for J on flights over 6 hours. If they expect you to work on the plane, they should spring for J all the time, no way you could actually work in a Y seat.

SG taxes on $120k of income is $9,900. Not bad at all. And the income falls within the $92.5k limit ($91,450) so no US tax either. There might also be more exemptions based on nonresident status but IANAL.

And if SG CoL is too much I guess you could cross the border and live in Malaysia...

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

Guys I've lived in Singapore for 6 years so I can def say that while it is ranked higher in the 'most expensive cities to live in' list, above NYC, one thing to keep in mind is that it's an absolutely tiny island nation so that even if I live away from the downtown area, I'll still be at work using public transport in like 30 mins, as opposed to 10 if I lived in a sweet location. My plan is to stay in a Tier 2 location, so I think rent will probably not be ridiculously high.

Taxes are about 10-12% in Singapore, so disposable income definitely beats the US hollow. As for the flight to Singapore...well what they told me was that their signing bonus is so hefty for that same reason - get your ass to Singapore, set up your apt, etc etc with the bonus (that's the official HR line in OW).

Don't know how cheapskate they are on travel. I guess I'll find out when I join in a few months time!

 
Stratus:
Urgent - silver banana for anyone with info on # of vacation days/PTO

Interested in MBB vs boutique vs large shops like Deloitte

What does it matter? You'll probably never get to use them anyway.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

Guys, I just posted about this on managementconsulted.com before seeing some of the numbers here. Here's a snippet from BCG (verified):

Base: $72,000 Performance Bonus: up to $16,200 (22.5% of base salary) Profit Sharing Retirement Fund: up to $4,400 (expected to be 5% of sum of base salary and performance bonus) - – - – - Total compensation: up to $92,600

Signing bonus is $5,000, and BCG also contributes 15% of your base + bonus into your 401(k) retirement account, with $0 required contribution.

***If you guys have detailed info for McKinsey, Bain, Big 4, post-MBA, advanced professional degree, etc, please email me directly (kevin@website), would love to compile and share (ANONYMOUSLY) in a clean fashion. Thanks in advance!!

 

Great info, thanks MC! Keep up the great info on your site, it's helped a lot of us out

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

Did anyone in an MBB international office get a housing / transportation allowance? Does anyone know how we can spend that? For instance, can I buy a car with the transportation allowance? Make payments towards car payment? My allowance is quite high, but I'd much rather just get the cash in hand...

5 weeks paid vacation to answer a previous question.

 
persimmon:
Did anyone in an MBB international office get a housing / transportation allowance? Does anyone know how we can spend that? For instance, can I buy a car with the transportation allowance? Make payments towards car payment? My allowance is quite high, but I'd much rather just get the cash in hand...

5 weeks paid vacation to answer a previous question.

Which int'l location is this? Sounds pretty perkalicious!

 

MC, that's good to hear, the info on your site definitely helps. Itll be nice to see some updates/new info and whatnot.

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 
managementconsulted.com:
mas1987:
MC, that's good to hear, the info on your site definitely helps. Itll be nice to see some updates/new info and whatnot.

Yeah, I've updated now to include Oliver Wyman and AT Kearney. Bain, Booz, and McKinsey coming later tonight when I get some free time. Numbers roughly in-line, as expected. Hoping to get more post-MBA/grad school data soon too!

Kevin can you get some boutique numbers up?

Monitor, LEK, ...

As well as quotes from smaller shops (if you have any sources).

Also, how negotiable are boutique salaries?

http://ayainsight.co/ Curating the best advice and making it actionable.
 
abacab:
I generally value them at 1 cent/mile, but redeemed them at 2 - 2.5 cents/mile. 10 cents would be a nice value on some 775K miles I earned in last 2 years.

That ~390k miles a year. Did you fly SQ22/21 (the one that goes NYC-SIN nonstop-longest nonstop in the world) every week for the past two years or something?

Plus that's enough to get the top tier on all three of the world's major alliances (Star, SkyTeam, Oneworld) for two years and more....btw, getting to use the lounge when you wait for your flight to wherever on your personal travel instead of with the kettles is total win (presumably you'd be flying business or higher on business, therefore giving you lounge access, elite or not)

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

I can get 20 cents on the dollar for some miles....fly a transcon (5,200 or so miles), pay $350 and you get a one-way domestic trip in Korea, worth $60.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

Ok yeah that makes sense. I forgot the elite bonus. Do those count for elite status though? Because on my FFP it doesn't-only BIS on itself/Star Alliance. It's totally lame.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 
bbjhva:
Holymonkey - looking good in Singapore, firms are definitely hiring, though of course office sizes in Asia-Pac are much smaller than in NA/Europe.

No way the SEAsia offices are even on the same scale of small of the Korean offices. BCG Seoul gave offers to like 2 people last year. They have a whopping 12 consultants total there (yes, partners included).

Anyway that's good to hear. My mom is under the impression that the job market throughout the world is going to hell in a handbasket.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

That's like 81k euros or 67k pounds. I'm still in utter shock. How the hell did you pull that off?

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

I can totally confirm that comp in switzerland is insane right now, I could choose between germany and switzerland when I got my offer and besides the much lower tax rate (something like 25% vs 45%) the comp is 1.5 times higher simply because of the CHF... Having worked in IB and AM for some time, I don't think the CHF is going to come down anytime soon! :-D

I like pickles...
 

German, the office is in Zurich and it counts as part of GSA (German Speaking Area). Staffing is supposed to be international but they seem to need a lot of german speakers right now so projects will mostly be in GSA (like all consulting firms in GSA right now).

I heard that AT Kearney is paying 120K CHF for entry level + about 10% bonus

I like pickles...
 

No idea. I got that info from hearsay (friend of mine has an offer at McK HK). She applied directly to the HK office btw. I don't think she got anything for housing since she applied directly. But HK$640k is pretty awesome. Then again, HK is pretty damn expensive...I think it was like at least $15k a month for a nice apartment in the city (no idea about Kowloon or somewhere near the airport, didn't look. I suspect Kowloon costs more.) Glassdoor.com I think said Bain was like half that. But their data tends to be pretty old so yeah...

Some more hearsay info (South Korea): US$1=~1,080KRW

McK: KRW 50 million+up to 30% bonus (approx up to US$60k) Bain: KRW 50 million+up to 10% bonus (approx up to US$50k) BCG: KRW ~53 million (approx up to US$48k) OWFS (signing/base/perks?): KRW 10mil/65mil/5mil+bonus (approx US$73k+bonus) ATK: KRW 50 million+up to 30% bonus (about 63 million last year) (approx US$58k) OWGMC: same as OWFS but base 50 million for a total of 65 million+bonus (approx $60k+bonus) Monitor: KRW 50 million (approx US$46k) AD Little: KRW 48 million (approx US$44k)

All those rates for local hires. This is pretty crappy given the cost of living in Seoul almost matches New York.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

Holy crap Deloitte pays a lot post MBA. I thought BCG was like $197k. That's $210k-$220k. Those are like IB numbers.

Any ideas on if the big 3 are gonna match?

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

MBB def matches. Bcg's base is 135. They pay the most.

Deloitte also pays for tuition if you intern and then work full time. They are doing what they can to poach kids from MBB, which can be very tough for obvious reasons

 

Can you confirm Deloitte post MBA? I have a friend in Canada who gets close to 100k base, not 130, and he didn't get close to that sign-on. What level is this - senior consultant or above?

I like pickles...
 
mk2012:
Can you confirm Deloitte post MBA? I have a friend in Canada who gets close to 100k base, not 130, and he didn't get close to that sign-on. What level is this - senior consultant or above?

I think comp varies by country especially local rates. Bain HK pays locals like US$30k and Bain Korea pays US$50k all in.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 
Variability in comp is nothing compared to variability in exits and learning opps, which should be your main driver. If you head to MBB or second tier shops like Deloitte/OW/Monitor/Booze, your exits can vary big from one tier to the next

Hmm, in what way, and pre or post mba? What kind of opportunities would you not have from T1 to T2? Also, OW is clearly T2 but OW FS is T1 (at least in a lot of countries, don't know about US)...

I like pickles...
 
mk2012:
Also, OW is clearly T2 but OW FS is T1 (at least in a lot of countries, don't know about US)...

there's some truth to that, still the overall OW brand in your resume stays T2 though. exit-opportunities immensely profit from this aura of you being "that guy who joined us from McKinsey!!1" when you enter a new company.

With the only exception perhaps being Roland Berger in Western Europe - let's face it, MBB is simply untouchable as far as prestige and exits go.

 

I agree with some but not all you say. I think it really depends on what you consider exit opps. I'd say that exit opps to industry jobs are of course better at MBB than any other consulting firm. And even here there are differences, Bain is an incredibly weak brand in Europe, in Germany (biggest consulting market in Europe by far) they only have midcap clients and their brand recognition is almost 0. Roland Berger is respected in germany but almost nowhere else, they take that #3 position from Bain.

But then the question is, do you really want to work in the industry and do you consider that a viable exit opp...?

As far as exit opps to PE, HF, IB goes, it depends on what you did and where. McK places better in PE and IB for sure, BCG does ok in PE...then everything else its really more up to you...at least thats the way it is in Europe.

I like pickles...
 
mk2012:
Roland Berger is respected in germany but almost nowhere else, they take that #3 position from Bain.

Berger is also Tier 1 i.e. in China, where interestingly >70% of its costumers are local, more than for any other firm. I feel they're somewhat underappreciated because they can't seem to crack the US market!

but truth be told, even in Germany MB both perhaps place their alumni better - RB was founded less than 40 year ago, so they are still building their network/brand.

 

yeah I heard RB was really successful in China though I don't really know why/how! I am not sure if its about building the network/brand, Bain is a bit younger than RB for example. I think its all about people as consulting firms tend to have a very strong culture (very little mobility between firms as opposed to IB/PE/HF), maybe this is why they place differently...

I like pickles...
 

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Inventore ut necessitatibus iste. Nihil perferendis provident dicta magnam.

 

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Ad harum explicabo et in enim omnis magni. Sit est inventore deleniti omnis et. Aut illo accusamus earum eos vero veritatis saepe. Soluta non alias adipisci qui aut quas.

Cumque quidem et quis sit. Molestias minima voluptas est id ratione quibusdam. Exercitationem sunt consectetur in assumenda officiis. Soluta tenetur cum dolorem incidunt. Vel harum quae officia illum ut. Laborum blanditiis impedit consequuntur animi. Id dolores provident doloribus et et.

I like pickles...
 

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Est dolor voluptate recusandae explicabo. Magni et sed libero ut. Magnam eius est rerum a sit aspernatur modi. Perferendis dolorem veritatis et laborum impedit.

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
 

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Pariatur aspernatur voluptatum ratione sunt aliquam ab. Id fugit repellat consectetur debitis sunt velit. Iste hic deleniti et unde consectetur delectus. Non molestiae error libero rerum.

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