MBB starting salary for PhDs
Can anyone comment on the typical MBB starting salary/comp for someone with a non-business-related PhD?
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which phd? that should help with advice
I have a PhD in Physics from a well-known university, and I've done a couple years as a postdoc. Arguments about whether I'd get the job, etc, aside, I'm just trying to sort out what would be a typical starting package, since it is one part of the decision of whether I want to try going the MBB route. The info I've seen here and elsewhere has been about starting salaries either coming from undergrad or with an MBA, which I guess brackets what a PhD would get, but that's a pretty wide range!
Same as MBA Salary.
Source: Bain OCR
I overheard a guy ask a rep.
A friend of mine was a princeton undergrad, and did his phd in math from a top20 school. He started at BCG at 120K. This was 4 years ago.
Recently accepted an offer with an MBB with a PhD in engineering. They hire you at the MBA level. Salary this year at my firm
135 base, 20 signing, up to 40 performance bonus, ~9 retirement, and relocation depends on where you move from.
I know of other PhDs accepting offers at another MBB with nearly identical package, just different distribution of base and salary.
Thanks for the data points, folks. Do you think that holds true at places where MBAs and PhDs start at different levels? For example, at BCG PhDs start at "Senior Associate" and MBAs start as "Consultant" so I was thinking there'd be a salary diff.
PhD's at MBB all start the MBA level. McK - Associate, BCG and Bain - Consultant.
Other firms generally do not start PhDs at the MBA level, but at some mid-level (eg Senior Associate) with a salary commensurate with that level (80-100, typically). However, you are expected to advance and move up into the MBA level role faster than someone entering straight from undergrad. LEK and ZS are two companies that come to my mind that have PhD specific roles in between undergrad and MBA levels. Even yet, other firms put very little value on a PhD and if you manage to get an interview and offer, it would be at the bottom of the rung.
Check the website of the firms you're looking into and you can usually find the starting role for a PhD.
Hmmm. A friend of mine (another PhD) was told by a BCG recruiter about the "Senior Assoc" vs "Consultant" roles, which is where that info was coming from.
I went through their US recruiting process last month and PhD's are definitely hired as Consultants. If your friend is looking international, maybe that's different. Otherwise, your friend gave you incorrect information.
ah, maybe that was the difference. my friend was looking at non-US offices.
Does having a business related PHD give you an advantage in the hiring process?
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