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Comments (29)

Apr 26, 2021 - 10:43pm

Does banking give you free health insurance? Or a 7% free 401k contribution? Or free first class flights on trips over 90 minutes?

I actually don't know anything about banking, but wanted to throw various perks out there. 

Apr 27, 2021 - 12:07am

And a ridiculous amount of airline / hotel points? And PTO? And light Fridays / protected weekends? And, let's be honest, social interaction?

McK pays 90k base out of undergrad. With signing bonus and 401k contribution, everyone's making over 100k before performance bonus.

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  • Analyst 1 in IB - Cov
Apr 27, 2021 - 12:57am

$140K all in for a fresh graduate. 

Source: classmate who landed a McKinsey job out of a resepcted MSF/MSM program. 

  • Prospect in Consulting
Apr 27, 2021 - 1:27am

that's for a masters student tho correct? not straight out of undergrad

  • Prospect in Consulting
Apr 27, 2021 - 9:28am

I'm assuming this includes 401k and other types of comp-not just cash comp?

Apr 27, 2021 - 10:30am

The salary seems to be pretty transparent at analyst level. Unclear how you square that $140k  # ? I guess is you add base plus bonus plus sign on plus 401K plus value of " meal /daily expense tab" you could get close.  85k base + 15K bonus + 10K sign on + 7.5K 401K + 7K (meal allowance/travel point value) = 125K .  Would be interested in knowing if 140K is a reality or if that is a bit of a stretch.

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Apr 27, 2021 - 1:37am

current MBB first yr max comp is between 110 and 120, depending on the specific company. M has the most upside for performance bonuses, though I hear the max first year bonus is only given out to like the top 5-10% of analysts

comp growth is pretty nice though. at M, you can get promoted to manager in 3 years and make between 250 and 300 all in. 

the lower comp compared to banking is made up for by better hours, more varied exits, and more interesting work (subjective)

Apr 27, 2021 - 4:13am

You *can* get promoted to manager in 18-24 months. They're really not kidding when they throw around the word "meritocracy." 3-4 years is more typical but either way, comp growth is solid for those who stay.

Apr 27, 2021 - 9:17am

No Engagement Manager at Mckinsey is making 300k all-in Y1 unless all-in means (Base + Bonus + EM Bonus + 401k + Hotel Points) x ego multiplier. Also, you won't get to stick around for a 4th year to make EM (and not sure why you'd want to).

First year, you'd be around 250.

Edit: If you start as an Associate (post-MBA role), then you'd hit it as an EM. But not as an Analyst. Analysts and Associates both get promoted directly to EM in the USA

  • Prospect in Consulting
Apr 27, 2021 - 10:52am

110-120 is what i've heard as well. That's good $$$ damn

  • Intern in Consulting
Apr 28, 2021 - 12:07pm

I can confirm BCG's total year 1 comp is ~118k, which consists of base, performance bonus, signing bonus, and 401k.  Pretty nice haul until I compare it to my banking friend's income and I'm like... Damn I should've done IB!

  • Prospect in Consulting
Apr 28, 2021 - 11:38am

Bain is 90k base, 15k target bonus (22.5k max), 5k signing, 5k relocation, 4.5% 401K contribution (base + bonus) = about 5k, profit sharing 0-20% of base + bonus that vests after 3 years

All-in, the max total comp for a 1AC at Bain is $127,500 not including profit sharing. 

Source: recent AC offer

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  • Anonymous Monkey
  • Rank: Chimp
Apr 28, 2021 - 11:48am

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Total Avg Compensation

September 2021 Consulting

  • Principal (22) $269
  • Director/MD (43) $260
  • Vice President (35) $246
  • Engagement Manager (77) $217
  • Manager (132) $165
  • 2nd Year Associate (126) $136
  • 3rd+ Year Associate (94) $128
  • Senior Consultant (280) $126
  • NA (10) $116
  • Consultant (495) $114
  • 1st Year Associate (441) $113
  • Engineer (4) $110
  • 3rd+ Year Analyst (114) $107
  • 2nd Year Analyst (256) $97
  • Associate Consultant (139) $94
  • 1st Year Analyst (863) $84
  • Intern/Summer Associate (137) $82
  • Intern/Summer Analyst (392) $67