Management Consulted 2019 Salaries out. Wow!!!

I don't know if this has been posted here already, but I could not find it with a quick search.

But I just looked at the [Management Consulted MBA salaries]((https://managementconsulted.com/consulting-salarie...) for 2019 and OMG!

McKinsey and BCG are at 165K. That's insane. It shows the T2 type firms still at 150K. Even though we all know that over the long run you make a lot more at MBB, T2s do try to match starting salaries. So that probably means S&O and ACN will try to go above 150.

Any thoughts?

Comments (34)

Feb 1, 2019

That's higher than banking base... Damm

Feb 2, 2019

To be fair, the real difference in banking vs. consulting comp is in the bonus. None of these bonuses really exceed 20-30%.

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Feb 7, 2019

Like the guy above me said, the difference is in the bonuses, which are significantly higher in IB than consulting.

At the post-MBA level, consulting base salaries have been higher than banking for a while, but the gap is actually closing. Before 2018, street pay was at $125k base for the stub year, now it's $150k across the board. Consulting bases were $145k-$155k, and now they're roughly $160k.

So now, there's really only a $10k-$15k difference in starting base salaries, but IB still has WAY bigger bonuses. The pay gap only widens as you progress too.

Feb 2, 2019

Bain and McK pay the same, BCG has to pay extra, and T2s are 2-3 years behind pay wise. Nothing new execpt an overdue inflation adjustment

Feb 7, 2019

Why does BCG have to pay extra? And, all three have the same base pay (post-MBA).

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Feb 2, 2019

Kind of surprised at how low that is for post MBA.

Feb 2, 2019
m_1:

Kind of surprised at how low that is for post MBA.

What are you smoking?

Feb 3, 2019

200k cash after bonus for a 26-28 year old isn't bad. Not to mention most of them pay MBA tuition if you stay for a period of time.

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Feb 3, 2019

Maybe I should have rephrased. I hire a lot and didn't realize I could snipe from top consulting firms that inexpensively. I think it's a good deal for that quality of talent. Lately I've been hiring ex-ibankers but this will make me look @ ex-consultants too.

Feb 3, 2019

Ha sounds like you have been overpaying... btw do you have any openings??

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Feb 3, 2019

No, we pay less but make up for it with equity opportunity and most guys are more than willing to take a salary cut to work with our team. Our cash on cash returns in the first 10/12 months are also pretty ridiculous so I'm not really worried if I am overpaying. We have a very performance driven culture and if someone isn't paying for their seat I have no problem firing them.

Feb 3, 2019
m_1:

No, we pay less but make up for it with equity opportunity and most guys are more than willing to take a salary cut to work with our team. Our cash on cash returns in the first 10/12 months are also pretty ridiculous so I'm not really worried if I am overpaying. We have a very performance driven culture and if someone isn't paying for their seat I have no problem firing them.

Damn at least tell us what industry and if you directly hire from B School.

Feb 3, 2019

No B-school hires because they're frequently unproven unless they have solid ops experience pre-b school.

We buy/invest in eComm/DNVBs.

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Feb 3, 2019
m_1:

No B-school hires because they're frequently unproven unless they have solid ops experience pre-b school.

We buy/invest in eComm/DNVBs.

Then you are an idiot, sir. I started a thread about 1.) Management Consulting 2.) Salaries out of B School.

You have nothing to contribute to to this thread, except a snide remark / humblebrag about how much people in your fake VC firm make.

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Feb 3, 2019

Good to see your reading comprehension is up to par. Might want to re-read.

Feb 5, 2019
m_1:

No B-school hires because they're frequently unproven unless they have solid ops experience pre-b school.

We buy/invest in eComm/DNVBs.

Lol, weren't you also the guy who made the post complaining about no longer being able to sexually harass your employees?
@AndyLouis I'm really surprised to see individuals like this with certified user tags.

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Feb 5, 2019

What are you on about? I made a post about how metoo has affected willingness to mentor.

Feb 5, 2019

Completely agreed with you on that one.

I am absolutely enjoying what's going in VA right now.

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Feb 4, 2019

When would the first bonus be paid (assume mid/late summer start date)? And what about future bonuses thereafter? Thnx.

Feb 4, 2019

Why do PwC Undergraduate Consultants now get paid the exact same as Strategy& consultants now? From what I know, the S& folks work longer hours, have a significantly harder recruiting process, and have the most "elite" kids and backgrounds.

Seems like a really raw deal for new Strategy& analysts.

Feb 4, 2019

They're still figuring out the final amount, but it's been made clear they're increasing S& (including for those who signed this fall - i.e. increasing before start date). Keep in mind $75k was fine before everyone else bumped up, it's just that S& has been slow to make a final decision and announce it.

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Feb 4, 2019

That's really interesting (and reassuring for prospective S& analysts)!

Where did you hear this - is this internal, or has this been made clear to everyone looking at Strategy&?

Feb 4, 2019

Internal discussion + communication to offerees have been conducted regarding raising salaries. But a better way to think about the compensation is 1. Bonus differences and 2. YoY Delta. Our bonuses are high to the overall market (up to ~30% for Associates)

This is just my take on why associate pay is the same Y1 as PwC and not official S& statement so take it as you will, but in my mind, undergraduates don't bring that much hard skills in the first 6-9 months with the firm. Most are learning how to adjust to a full-time job and getting the whole consulting toolkit down. Now after year 1, our associates receive 15-20% cohort raises until promotion to SA where salary jumps up to post-mba level (or you're counseled out), which definitely reflects how much value you're bringing to projects. Experienced associates are by far the most coveted position (besides Managers) for projects because of how much relative value each contributes to their bill rate and our compensation definitely reflects this

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Feb 4, 2019

Thanks for the insight!

So if I've accepted an S& offer, but haven't received said communication about a potential salary raise, what would you advise - should I sit tight until my start date and wait for things to be worked out?

Feb 4, 2019

Sit tight and wait, probably until April.

Feb 4, 2019

Yep just sit tight! So far only post-mba SA roles have been released. Associate adjustments will be announced before the summer starts. In the meantime, feel free to ask any questions about the firm or the work itself :) Y1 base salary means so little in the marathon that is our careers!

Feb 5, 2019

@Bullish, post-MBA SA salary bumps--above the 150 base-- for Fall '18 offers (Summer '19 starts) have been announced to those folks?

Feb 6, 2019

That's what leadership has said. Whether or not it has been actioned yet I'm not sure, but I doubt it'll be a long delay if it hasn't. S& puts a lot of effort and resources into recruiting MBAs, hence why they expedited (still painfully slow thanks to Audit Mother PwC) the compensation adjustments for the new MBAs before any other adjustments.

This isn't surprising though, all MBA offers were given with the verbal message that an adjustment was being internally discussed and would be reflected in offer letters when confirmed.

Feb 4, 2019

T2 have all announced pending or current adjustments except Deloitte. Not sure what they're thinking. I would venture that they are focused on MBA recruiting. Historically they win all t2 cross offers because they pay second year tuition if you intern there and they no longer recruit full time, so they don't lose out in second year process. I'm guessing the strategy group had a hard time convincing the audit partners that they need to raise to keep winning talent.

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Feb 5, 2019

T2 have all announced pending or current adjustments except Deloitte. Not sure what they're thinking. I would venture that they are focused on MBA recruiting.

If I'm interpreting this correctly that you're saying undergrad hasn't bumped up yet bc focusing on MBA, that's not true. They just bumped up this year to 80k + 12.5k signing this fall.

Feb 7, 2019

No - I'm referring to post-MBA. I should have made that clearer.

Gibbs providing a lot of value as usual.

Feb 5, 2019

You should take a Writing refresher course. I have no clue what you wrote there, chief.

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Feb 5, 2019
Feb 5, 2019
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